Scalability is one of the central problems facing the blockchain industry today. Most digital currencies cannot be widely adopted because their corresponding blockchains are incapable of handling a large number of transactions in a short period of time. Bitcoin, for example, has a block data limit so the BTC network can’t process more than ~7 transactions per second.
Komodo Platform has developed a new scaling solution that provides more transactions per second (tps) than any other blockchain project in existence. And it’s not even close— it’s a landslide victory.
We have innovated a solution that has already achieved more than 20,000 tps. It sustained an average of 19,500 tps for a period of 14 minutes in the first live public test on May 16, 2018. These figures have been verified.
And Komodo’s scalability tech is capable of handling much more. It’s theoretically possible to achieve 1 million tps or more with the appropriate infrastructure. We’re currently working to get the hardware required to conduct a scaling test of this magnitude. Komodo is on the Road To 1 Million.
In addition, the scaling solution uses a special protocol that allows up to 100 payments per transaction. At 1 million tps, this would amount to a grand total of 100 million payments per second. At that rate, Komodo would be able to process one payment for every person on Earth in less than two minutes.
We realize these might sound like wild, unsubstantiated claims (which, regrettably, are not uncommon in the blockchain industry). However, Komodo’s tech is functional and the results are publicly verifiable. This post explains exactly how the Komodo Platform scaling solution works.
Notary Nodes And The Notarization Process
Komodo’s scaling solution shares a few similarities with Delayed Proof of Work (dPoW), Komodo’s innovative security mechanism. To make understanding the scaling solution easier, let’s first understand how dPoW works.
The dPoW mechanism starts by taking snapshots of the entire Komodo ecosystem every ten minutes. These snapshots record the balance of every address in the ecosystem at that very moment. This means the snapshots can serve as backups of the entire Komodo Platform. For additional security, these backups are then saved onto the ledger of a different blockchain with a powerful network.
At present, Komodo stores its backups on the Bitcoin blockchain, as it currently has the largest hashrate and would be the most difficult blockchain to hack. So, in order for the KMD blockchain to be altered, corrupted, or destroyed, both the Komodo network and the Bitcoin network would have to be successfully overtaken. Under present circumstances, an attack of this nature is essentially infeasible.
The process of creating backups of the KMD chain and saving them onto the Bitcoin ledger is called notarization. It is the backbone of the dPoW consensus mechanism and thus Komodo Platform’s security.
The technical work required to successfully complete notarization is carried out by Komodo Platform’s 64 notary nodes. Notary nodes are servers dedicated to fulfilling this vital role in the Komodo ecosystem. Annual elections are held to elect the notary node operators. Anyone can run in the elections so, if you’re interested and think you’re qualified, learn more about how to become a notary node here.
Komodo’s Federated Multi-Chain Syncing
Komodo’s scaling solution follows a procedure similar to to the dPoW notarization process. To put it simply, Komodo’s scaling solution works by creating many blockchains that can each process transactions simultaneously, while also syncing with one another to achieve interoperability. We call this new technology Federated Multi-Chain Syncing.
There are a currently total of 1,024 chains that exist for the purposes of testing Komodo’s scalability solution. Each of these chains is independent and can process transactions without being slowed down by the activity on any other chain on Komodo. We call these independent chains “assetchains.”
It’s worth emphasizing the fact that there is no limit to the number of assetchains that can exist on Komodo Platform. Assetchains are created for the purposes of Komodo’ scaling solution, but they can also be created for independent projects. If you’re a developer, entrepreneur, or enterprise leader and you’re interested in launching your own scalable, secure blockchain, contact Komodo at [email protected]
All of the assetchains using the Federated Multi-Chain Syncing tech communicate with the KMD chain. This interoperability can also be extended beyond the scaling solution tech. The federated chains can also communicate, via the KMD chain, with every other chain that exists on Komodo Platform. This allows any chain on Komodo to verify transactions that took place on any other chain in the ecosystem. Here’s how it works.
The first step in Komodo’s scaling solution is to create thousands of Merkle Trees out of all the transactions taking place on each and every chain on Komodo. If you aren’t familiar with Merkle Trees and how they work, we recommend that you read this post first. It will make understanding Komodo’s scaling solution much easier.
Traditionally, each block in a blockchain has one (and only one) Merkle Root. That Merkle Root is the digest of all the transactions IDs for all of the transactions written onto that particular block. This is also true of each block in each of the assetchains on Komodo Platform.
New blocks are mined roughly every 60 seconds for each assetchain. This means one new block, with one unique Merkle Root, is produced every minute or so, for each chain.
Then, every ten minutes, Komodo’s notary nodes create a new Merkle Tree out of all the Merkle Roots that have been generated since the previous notarization. This happens for each assetchain in the Komodo ecosystem utilising the Federated Multi-Chain Syncing feature.
Since blocks are mined roughly every 60 seconds and the notarization process occurs roughly every ten minutes, there are between 8 and 12 Merkle Roots that get organized into a new Merkle Tree. Each new Merkle Tree fingerprints these 8 to 12 Merkle Roots into a new Merkle Root. We might call these new digests the “Merkle Root of Merkle Roots” or the MoM for short.
Next, Komodo’s notary nodes take the MoM from each assetchain and sync them all with the KMD chain. This is similar to the dPoW process except, rather than notarizing a snapshot of the KMD ecosystem to the BTC chain, the notary nodes are notarizing a single digest— the Merkle Root of Merkle Roots, or MoM— from every federated assetchain onto the main KMD chain.
This doubles as a security feature for every assetchain in the ecosystem. Learn more about Komodo’s dPoW security services here.
Once all the MoM have been synced with the KMD chain, they are organized into yet another Merkle Tree. So all 1,024 digests are fingerprinted into one new Merkle Root— the Merkle Root of the Merkle Roots of Merkle Roots (MoMoM).
This single code is the fingerprint of every single transaction that has taken place on Komodo Platform since the previous MoMoM notarization occurred. That’s true because every transaction on each block is hashed into a Merkle Root. All of the Merkle Roots for all the new blocks are hashed into a MoM. This happens for each chain in the Komodo ecosystem. Then those MoM are sent to the KMD chain, put into a new Merkle Tree, and hashed to form the MoMoM.
The fourth and final step in Komodo’s scaling solution process is to notarize the MoMoM back onto every assetchain in the ecosystem. Komodo’s notary nodes perform this operation, too.
This last step is crucial because it allows interoperability between all chains within the Komodo ecosystem. That is, transactions that occur on one blockchain can be quickly and efficiently verified on a completely separate blockchain. This increases the speed at which the ecosystem can process payments and transactions.
It bears repeating that all four steps of Komodo’s scaling solution are repeated approximately every ten minutes. This is an ongoing process that continually puts all of the chains in Komodo’s ecosystem in sync with each other.
Security And Speed
Because Merkle Trees present such an efficient method of verifying data, Komodo’s scaling solution can process more transactions per second than any other blockchain platform in existence. The Federated Multi-Chain Syncing tech has already proven it can handle over 20,000 transactions per second.
Currently, Komodo is working with Amazon Web Services to obtain the infrastructure necessary to increase the magnitude of our scaling tests. The goal is to achieve a sustained result of 1 Million transactions per second. Komodo is on the Road To 1 Million.
Komodo’s Federated Multi-Chain Syncing technology doesn’t just allows an enormous number of transactions per second. In essence, it creates a massive, fully-interoperable ecosystem, with a multitude of chains all simultaneously processing transactions and syncing with all the other chains in the federated cluster. It’s a thing of beauty.
If you’d like to learn more about Komodo, sign up for our email list and join our community on Discord to chat personally with Komodo team members. Join us as we continue to accelerate the global adoption of blockchain technology.