A broad view of Topl might divide the world into two major parts: the blockchain and commitments
A BlockchainBlockchain - In general terms, a blockchain is an immutable transaction ledger, maintained within a distributed network of peer nodes. These nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that binds each block to the preceding block. is best described as an append only public ledger or database that is distributed across many computers in a network. The blockchain logs the network's state at specific times after transactions have altered the state.
The term "block" refers to the fact that data and state are stored in sequential batches or "blocks". "Chain" refers to the fact that each block cryptographically references its parent through a (hashed) linked-list. Each block does not store all the data in the blockchain network (it would be far too large).
The state data is stored in an abstraction called a Box. User Address data and CommitmentCommitment - Hashed data. data are stored within these Boxes.
Each new block must be agreed upon by every node in the network. This is so everyone has the same data. For this to work, BlockchainBlockchain - In general terms, a blockchain is an immutable transaction ledger, maintained within a distributed network of peer nodes. These nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that binds each block to the preceding block. s need a consensus mechanism.
Topl uses a proof-of-stake Consensus MechanismConsensus Mechanism - A consensus mechanism is a fault-tolerant mechanism that is used in blockchain systems to achieve the necessary agreement on a single data value or a single state of the network among distributed processes or multi-agent systems, such as with cryptocurrency. It is useful in record-keeping, among other things , which unlike proof-of-work ConsensusConsensus - Blockchains are inherently decentralized systems which consist of different actors who act differently depending on their incentives and on the information that is available to them. Whenever a new transaction gets broadcasted to the network, nodes have the option to include that transaction to their copy of their ledger or to ignore it. When the majority of the actors which comprise the network decide on a single state, consensus is achieved. does not require large amounts of energy consumption to remain secure.
New blocks are broadcast to the nodes on the network, checked and verified, updating the state for everyone. The blockchain is Topl's public ledger, an ordered and timestamped record of transactions. This system is designed to protect against double spending and modification of previous transaction records.
Topl can handle proof of a wide range of different types of data using CommitmentCommitment - Hashed data.s. Commitments are hashed versions of the data which act as one part of a proof of data integrity since the owner must provide the original data in order to get the hashed value.
Updated about 1 year ago