What is Vite’s biggest innovation as compared to other public chains?

  • What is Vite’s biggest innovation as compared to other public chains?
    The biggest innovation is the asynchronous design, which can be understood in three aspects:

    First, we are introducing the concept of asynchronous design into smart contracts. The Nano project (one of three well-known chains that use DAG) separates a transfer action into a send and a receive transaction. We are building upon this mechanism, and will separate the call and the response of a smart contract, so they can take place asynchronously.

    Second, the writing and verification of a transaction also happen asynchronously in Vite. In traditional blockchain setup (e.g., Bitcoin), the speed of writing transactions into a ledger is limited by the speed of packing. But Vite allows writing of many transactions into the ledger within the constraints of the TPS. Because the asynchronous setup allows the transactions to happen at an even speed, this reduces the peaks and troughs of the speed of transaction writing, thus optimizing usage of resources and increasing system throughput. Also, the transactions of two users will no longer be blocked; that is, we will no longer see a scenario where a user sends a large amount of transactions that prevents the transactions of other users from taking place.

    Third, calls between contracts will also happen asynchronously in Vite. The calls between smart contracts in Ethereum are implemented through messaging (aka insider transactions); and the calls either all succeed or all fail, as per an atomic ACID semantic. To solve for this bottleneck in performance, we take a page from well-developed solutions in centralized Internet technologies, and will make use of a message-driven architecture. As such, contracts do not share states and communicate via messages.

  • Nice write-up.

    In addition, I think the concept of snapshot chain, which essentially combines the speed of DAG with the security of block chain is a pretty big and clever innovation!

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