During the course of the past few weeks, the BCH community has been talking about Avalanche, a newly devised pre-consensus mechanism that will allow for ‘zero-confirmation transactions’ to become a reality.
In this regard, Chris Pacia, a developer for Openbazaar, wrote an interesting op-ed piece where he spoke about the potential Avalanche possesses and how it could ”theoretically” facilitate secure zero-confirmation BCH transactions in the near future.
What Exactly is ‘Avalanche’?
Some of our readers may remember that ever since the BCH hard fork took place last month, many people have been talking about the Avalanche protocol (an idea that can hypothetically add a double-spend protection mechanism to zero-confirmation transactions).
To further elaborate on the matter, we can see that the the transactions processed using Avalanche are broadcast to the network before they are confirmed. In this regard, Pacia spoke at length about how the protocol could potentially secure unconfirmed transactions by making use of participating nodes:
“Avalanche is a new consensus protocol that was first introduced earlier this year — It provides a novel way for nodes on a network to choose between two conflicting transactions and come to a consensus about which one should be included in the next block,”
In addition to this, Pacia also said that by deploying Avalanche within the BCH ecosystem, the native blockchain can improve its overall miner coordination (thus effectively eliminating the issue of double spending)
More on the Matter
To better make sense of ‘Avalanche’, we need to understand that rather than using nodes that can be easily ‘sybiled,’ the protocol makes use of pools of miners that are working to secure the network.
As per his latest post, Pacia mentioned:
“Proof-of-work is used as the anti-sybil mechanism. The miners of the last 100 blocks form the consensus group and participate in Avalanche. This is a rolling membership group. Each new block a new miner is added to the group and the miner who mined block n-100 gets booted,”
While it remains to be seen what the outcome of this entire episode turns out to be, many experts are sure that the BCH network is closing in on making “zero confirmation transactions” a reality quite soon.