Dev Update July 4

Dear CyberVein community,

Following our vision of a universal network of decentralized databases, interconnecting human knowledge in a trust-less environment, it comes more than natural to us to develop the CyberVein network as an open-source platform.

Our development team is hard at work to produce the building blocks needed to improve DAG technology to a point where it can serve as a powerful distributed data management tool. You are of course invited to take part in the auditing process and to provide feedback as needed. Please join us on GitHub and participate in the conversation!

This month we updated the essentials of the CyberVein DAG ledger. It is now possible to perform basic operations, create accounts, transfer tokens over the DAG network and retrieve token balances.

You may already know that one of the major development challenges we took upon ourselves is solving the centralization problem, troubling existing DAG-based projects. DAGs have many advantages to traditional blockchains, however, in small networks they struggle to provide complete protection against double spending attacks. Most projects solve this by introducing “Master Nodes” or “Coordinator Nodes”, which are appointed by the network’s developers or by its participants. This adds a layer of centralization to the system which we at CyberVein seek to avoid.

Ultimately, on CyberVein the concept of “Master Nodes” will be replaced by a network of “Full Nodes”, which are ordinary (not appointed) nodes, that volunteer to store the entire DAG ledger. The storage resources required to become a Full Node act as a “spamming fee” that would prevent an attacker from hacking the network with sybil nodes. This is akin to how Bitcoin’s Proof-of-Work makes attacks artificially costly and hence infeasible, only that with this method, storage resources are put to good use rather than wasted.

The algorithm governing this process is called Proof-of-Contribution and is still under development. Until PoC is up and running we have implemented a temporary solution which utilizes a secondary (traditional, PoW-based) blockchain to connect CyberVein’s Full Nodes. The integration of this secondary chain is now live on GitHub, accompanied by CVScan - a blockchain explorer, designated to this consensus maintaining ledger.

Further submission are in the making, and we will keep you posted here on a bi-weekly basis - so stay tuned, follow us on twitter, and join us on telegram.

Warm regards,

The CyberVein Team.

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