Sharder Blockchain “Sharderchain” Uses Proof of Stake and Proof of Credit For Scalability
Is Blockchain The Solution To The Sharderchain’s Scalability?
Blockchain technology has been an innovation since the moment it arrived in the industry. This type of ledger is transparent and immutable, making it highly trustworthy. There is no way to alter it or tamper with the information that has already been logged. It has the power to store many different types of data.
At first, cryptocurrency was the only one with access, but it has been applied to help with land registry, education documents, medical records, government records, and more. The best part about this kind of ledger is the lack of boundary.
Despite the many ways that other industries have taken advantage of what blockchain has available to offer, it is still new. As such, there are companies that are working to perfect the innovation for the whole of human existence. One prime example of this evolving development is Sharder, which is establishing the Sharder Protocol for secure access to personal information.
Both Proof-of-Stake and Proof-of-Credit protocols run cohesively on the Sharderchain ledger. The Sharder Protocol itself is only linked with certain accounts, though the PoS for the chain is specifically meant for certain roles on the network, which includes storers and full nodes.
Storers focus on the storage and any aspect related to it. Storage volume, duration, and penalties are included in these responsibilities. The full nodes are responsible for maximizing the platform’s ability to setup transactions at the most efficient and fast speed possible, while handling the speed of both block generation and fork convergence. The nodes from Sharder are used as an incentive.
Bitcoin has been the example for many cryptocurrency endeavors as to how the Proof-of-Work blockchains should function, as opposed to proof-of-stake. Network miners that abide by the PoW protocols will be rewarded within the blocks. However, Sharder has decided to use Proof-of-Stake instead, which may not be centralized as the industry grows.
Sharder is establishing a project called the Sharder Hub, which is meant to promote a more stable and equitable network for the nodes online. The Sharder Hub requires less power, and it will be combined with the release of the Sharder Box, which is a miner for storage. These two aspects will soon become crucial to the survivability of the Chain. When the Hub is established, miners have the option of earning rewards from the moment that they begin mining.
The only way to add value to these tokens is with PoS, since the tokens will need to be staked. For users that expend the Sharder Box instead, their rewards come from the sharing of storage on a personal computer, though they still generate blocks that will post to the Blockchain. Along with the rewards they receive for mining with the Box, they will also get rewards as a “Watcher.”
A watcher for the ecosystem is basically responsible for observing the actions of the network, though they will have to jump in to support security and correct any loopholes in the process. They will need to remain online to make sure the network is operating as it is supposed to.
Basically, though this role may seem less active, participants who choose this position will be responsible for the security of the whole network, while allowing the Sharder Protocol to examine their data. Most of this is performed with off-chain blocks, which means that they will not clog transactions that would otherwise be delayed.
Though the above discussion approaches the functionality of the Sharder Protocol, Network, and other branches of the company, any participant must first understand the Sharder Chain. This multi-layer blockchain offers all the benefits of a typical blockchain – a P2P network module, distributed ledger technology, and other important information.
The blockchain is only one layer, though. There is also a data layer, that gives the roles of Watcher and Prover, which is outlined with data operating protocols and data sharding. There is another layer called the asset layer, which develops account models, while connecting tokens with accounts for better management. The fourth layer, which is the module layer, handles the packaging of the modules, which are based on smart contracts.
Bean Cloud is a dApp that is only found within the ecosystem of the Sharder Network. It offers a platform that thrives on data storage, proof, and security. This is where all the users’ personal documentation regarding their actions on the network goes. It can be a storage space for e-contracts, payment vouchers, legal certificates, and investment records, ensuring that none of these details can be modified after uploading.
The business applications for this dApp are unparalleled, since companies and organizations have the option to secure all their documentation on a much safer network than what their office offers. The Sharder Protocol is meant to give 100 businesses the change to engage in the beta version of this project, helping to ensure that the alleged security and privacy are effective.