Why Web3 will build on a parallel architecture?

Capability

What counts as "big"? Scalability is the key. Applications on the scale of the Internet need technology that is hundreds of times larger than the current capacity of blockchain, and can be scaled on demand.

Unified Credit Domain

The cross-chain protocol can only connect data, but does not solve the problem of credit isolation. Layer0 put all chains in same Chain space create a unified credit.domain

Arbitrary Data

In addition to asset and transactional business in the Crypto industry, Web3 applications also have many key-value type data that needs to be processed.

In the so called "Blockchain 3.0 Era", most protocols try to improve the transaction processing speed. However, the bottle neck of blockchain scalability is its sequential structure, namely, data block must be generated one by one. This means that no matter TPS is improved to what degree in consensus level, scalability issue will not be solved completely. Therefore, we transfer our focus from increasing speed to changing data structure and come up with the one and only parallel blockchain data structure consisted of limitless solo-chains and periodical Hyper Block ensuring structural consistency.

Most of the traditional blockchain protocol requires some sort of competetion to achieve consensus, such as PoW, PoS, DPoS etc. Individual node must compete for the bookkeeping right with computing power or stake holding ratio. However, such consensus algorithm can not allow multiple nodes simultaneously participate in the block generation. Therefore, they are not suitable for parallel chain structure,not to mention the energy waste. To match the parallel structure and the Hyper Block generated among solo-chains, Paralism invents Buddy algorithm - seeking the greatest common divisor of node consensus. With Buddy, consensuses are formed by nodes with similar on-chain request validating each other. This process ensures that all nodes can participate in the parallel block generating process and the equivalent status of the nodes. It truly realizes decentralization and avoids privileged nodes and computing power waste.

In parallel structure, solo-chains can be dynamically increased and reduced without affecting data consistency. With customized script and Buddy consensus algorithm, Paralism users can define the trigger condition for sharding during hash. When it satisfies the condition, nodes running Buddy consensus will automatically conduct grouping according to on-chain registration request and newly grouped nodes will form new solo-chains according to the need of the volume. "Dynamic sharding" means the grouping of nodes and the adding of solo-chains change in real time according to the load of the block.

Just like the birth of AWS, Alibaba Cloud and other cloud technologies, as a constructor for blockchain infrastructure, Paralism allow users to create a totally customized virtual chain via user-defined script thanks to its unlimitedly scalable parallel structure. On one hand, virtual chain can maintain the absolute data isolation and independence features as if they are on self-made chains; On the other hand, in the same parallel space, it can share the on-chain and off-chain resources to the maximum including technology, nodes, communities etc. It also can realize the coexistence of independence and interconnectivity.

Major application scenarios of existing blockchain technology are still limited to digital currency. Most blockchain technology only supports trading or trading relevant structural data. Paralism decouples blockchain from digital currency, it does not need to be bound with distributed ledger so that the type on-chain data will not have to fall into the category of trading. It can provide better support for proof of existence of discrete data (non-structural data and big data). This will expand the application scenarios to both financial or non-financial areas.