Blockchain : There are special types of dapps on TIM network which are geo-fenced and zero-knowledge proof based, called hyperlocal dapps
The geo-mining module creates multiple sub network, where each network independently adds and validates the transactions in its geographical area. The network splits into 2 variable sized triangles if the transaction fee and waiting transactions fulfill a pre-defined condition. Similarly, the network merges into nearby zones either fully or partially if waiting transactions reduces. Such a system provides high performance similar to large enterprise cloud based solutions.
There are special types of dapps on TIM network which are geo-fenced and zero-knowledge proof based, called hyperlocal dapps. Hyperlocal dapps maintain their own blockchain file and only the TIM coin spending is captured in main network without checks unless a conflict occurs. Conflict resolution is managed by zonal nodes and costs the usual zonal transaction fees. In honest hyperlocal dapps, the ideal cost of transaction is zero as well as realtime. This also creates a network where high volumes doesn’t impact global blockchain performance. Such a resiliency creates an internet grade blockchain.
The proof of belongingness(PoB) is the work-horse for block creation by nodes. The PoB is an improvement over PoS(proof of stake) and PoW(proof of work), so that there is no hogging of ownership by select few and also not as polluting like PoW energy guzzlers. PoB works by geo-location where certain large number of apps act as trusted source of location. And these large swarm of trusted truth source authenticating any node which wants to add a block in its region. This creates resiliency and also a high performance environment. The opportunity to add block also becomes available to a larger number of newer nodes.
TIM blockchain requires only 5 TIM Coins as stake for nodes interested in creating new block. This is an extra protection mechanism where malicious nodes would loose stake for attacking the network. The staking of 5 coins is low and inclusive for democratic participation. The fund will distribute tokens to entrepreneurs in under-developed and backward regions like Africa and Asia, etc.
Exchange of information is already getting enabled in remote parts of the world. An economic media for exchange of value will unlock huge potential of Africa. Easy banking services and commerce are quick wins. Further integration into global economy will aid in uplifting of poverty, health and sanitation.
What is the Blockchain?
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.
Author: DangerousBoard
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