What are the advantages of Vite compared to other public chains?
There have yet to be many infrastructure chain projects that employ an asynchronous architecture because there are severall downsides, but the performace is like comparing an automobile to an airplane engine.
Vite splits transactions into pairs according to a “request-response” pattern. The writing and verification of transactions are asynchronously decoupled, which results in ultra-high throughput. Inter-contact communicatoins are based on an asynchronous messaging model.
Vite uses the DAG mechanism because its TPS (Transactions Per Second) is much higher than other infrastructure chains. At present, Vite uses the Snapshot Chain to resolve the security weaknesses in DAG.
Let’s go in detail with the innovation of Vite with the following points!
Comparison Table among Bitcoin, Ethereum, EOS, IOTA and VITE
Firstly, Vite applies an asynchronous architecture to the message-driven of smart contract. Nano (a DAG project) divides the transfer into two actions: billing and recording. Meanwhile, Vite draws on Nano and extends it to the smart contract. Transactions are divided into accounts. A call transaction has two parts: a request and a respond transaction. In Block-lattice, there are a independent chain for each account, while DAG (Directed Acyclic Graph) usually says a tangle structure which does not support the mentioned feature. Transactions in DAG could refer to multiple blocks while in Vite the transaction pair only happens between sender account chain and receiver account chain. In Vite, the transaction is written onto the ledger and is asynchronous.
Secondly, in Vite, users can write a lot of transactions to the ledger within limit TPS, but the throughput is confirmed asynchronously, which smooths the confirmation of transactions, maximizes the use of the system resources, and improve the throughput of the whole system. In the meantime, transactions are sent in one account, leaving those in other accounts unrecognized for a longer periods.
Last but not least, Vite is expected to use the asynchronous design for inter-contract calls. With an event-driven architecture, every smart contract is viewed as an independent service. Contracts communicate via messages without sharing state. Vite adopts message-driven architecture. There is no state sharing between contracts. Users only communicate by sending message to each other.
Transactions in Vite are grouped by accounts. That is, each transaction only changes the state of one single account. Sending transactions are separated from receiving transactions, which obviates waiting for a transaction to be completed before the initiation of another one. The hierarchical design of the consensus algorithm allows horizontally scale in consensus groups.
I believe with those criteria, Vite is a technical coin, and expected to be the most promising blockchains project of 2018.
Aug 3, 2018