Soloneum
💢SOLONEUM @Soloneum
Soloneum is designed to provide substantial value to a wide audience, building on strong governance, economic, and technical foundations. It aims to fulfill and extend the original vision of Bitcoin.
As a Layer 1 blockchain platform Soloneum aims to significantly increase the adoption of cryptocurrencies across multiple sectors.
It addresses the industry's key challenges, including scalability, governance, and economic viability, with the goal of becoming the financial platform of choice for everyday use around the globe.
>>Are u ready for a deeper dive for tech?
💢Decentralized and Uncensorable
Soloneum emphasizes decentralization as a core principle, enhancing security, transparency, and trust while preventing manipulation and censorship.
he network aims to maintain low operational costs for full nodes, targeting a capacity of 20,000 transactions per second (TPS).
>>This is achieved by offloading compute requirements to specialized open-source hardware for blockchain validation, keeping full node operation accessible and affordable.
>>Soloneum plans to implement software and hardware scaling technologies to make running a global-scale full node affordable, maintaining decentralization and censorship resistance. This includes parallel transaction processing and various hardware accelerators.
💢Secure
The security of Soloneum is based on a cost-efficient Proof-of-Work (PoW) consensus mechanism, with dynamic annual adjustments of emissions for security to ensure cost efficiency and citizen governance. Soloneum's security cost per transaction could be significantly lower than that of Bitcoin, due to its potential to handle a much larger volume of transactions.
Continuous improvements in security are a priority, with openness to new technologies and collaborations to enhance the network's resilience.
💢Fast Finality
Soloneum adopts the Ethereum GHOST consensus system for quick 15-second block confirmation times, reducing stale blocks and ensuring efficient confirmations. This makes the blockchain suitable for real-time transactions and smart contracts.
💢UTXO vs EVM
The scalability of blockchain networks is addressed by comparing UTXO-type networks, which allow for parallel transaction processing, with EVM-type networks, which often require sequential processing. UTXO networks, like Bitcoin, use multiple CPU cores to process transactions concurrently, enhancing scalability and reducing congestion during high demand.
Soloneum aims to leverage this parallelism for improved network resilience and capacity.
---------- XEVM ----------
At the core of Soloneum's technological breakthroughs lies the XEVM, a pivotal innovation set to redefine blockchain scalability. Traditional EVM chains are constrained by their sequential transaction processing, which inherently limits their throughput. In stark contrast, Soloneum's XEVM protocol shatters these limitations by introducing parallel transaction processing. Each processing core only needs to access the specific state and contracts relevant to the transaction it's processing, making the system highly efficient and parallelizable.
This transition from sequential ---➡️ parallel processing represents more than a mere enhancement; This shift signifies a notable advancement in blockchain technology, potentially positioning Soloneum as a prominent player in the industry.
**Now that we have described this new scability tech, we can talk about more techn LoL
Let's see how soloneum's miners are doin.
💢Block Building
