By M Systems
Welcome to Electroneum’s Moderated Blockchain. The lifeblood of most Digital Assets are their Blockchains, and as we have seen with other cryptocurrencies the biggest threat is a 51% attack. What if a blockchain existed where there was ZERO chance of a 51% attack; where the miners all did what was best for the project, and improved the reputation of the cryptocurrency by ensuring criminals never choose to use it? Electroneum’s Moderated Blockchain accomplishes precisely this.
· Public Blockchains Risk 51% Attacks
· Elctroneum Moderated Blockchain Has ZERO Chance of 51% Attacks
· Maintained by Multiple Trusted Organizations
· Many Benefits…
If you take a look at public blockchains, the danger exists of a rogue entity taking control in a 51% attack, but this is not possible in a Moderated Blockchain because multiple trusted organizations, such as NGOs and other approved entities, maintain the network for their own benefit as well as that of the network. Working together, without having to be aware of one another, the benefits of this type of decentralization are many.
· ZERO Chance of a 51% Attack
· Unique Mining Authentication Codes Issued by Electroneum
· Each Miner is a Trusted Entity
· No Single Miner Can Apply Two Blocks in a Row
· Immediate Action Network Fail-Safes:
· Remotely Throttle the Hashing Rate
· Completely Revoke Authentication Keys from Mining
Utilizing a closed source mining codebase, Electroneum’s Moderated Blockchain means that there is ZERO chance of a 51% attack because each miner must obtain a unique mining authentication code directly from the Electroneum Team, and no single miner can apply two blocks in a row. In the realm of What If’s — let’s say in the unlikely event of a network compromise where both the Authentication Code and the mining software are compromised — the Electroneum Team can remotely throttle the hashing rate or completely revoke Authentication Keys immediately from mining access.
· Public Blockchain Vulnerabilities Appeal to Criminals
· ETN First Cryptocurrency with Mandatory KYC and AML Checks
· Moderated Blockchain Model Takes This to Another Level
· Known Originators of Every Block
· Electroneum’s Commitment:
· Improve Reputation of Cryptocurrency
· Ensure Criminals Never Choose ETN
Public Blockchain vulnerabilities Appeal to Criminals. Electroneum was first to introduce mandatory KYC and AML checks. The Moderated Blockchain model takes the level of protection to another level by knowing who the originators are of every block. In its commitment to improving the reputation of cryptocurrency, Electroneum wants to ensure criminals will never choose to use ETN.
· Electroneum’s Priority of Low Fees
· Less Data Redundancy
· Simplified Data Handling
· Reduced Transaction Fees
· ZERO Risk of Being “Held to Ransom”
· All Transactions are Processed, No Matter How Small the Fee
Keeping mining fees very low, to an absolute minimum, has always been a priority for Electroneum. The Moderated Blockchain has less data redundancy and simplifies data handling — what this means is reduced transaction fees and an assurance that, unlike public blockchains, Electroneum’s will never be held to ransom. With the Moderated blockchain all transactions are processed no matter how small the fee miners will not be able to mine empty blocks while refusing low fee transactions.
· Anti-Spam Transaction System
· Moderated Blockchain Eliminates “Blockchain Stuffing”
· Removes Vectors of Attack
· Further Reduces Fees
· Supreme Scalability
For scalability, the Moderated blockchain provides Electroneum with the ability to implement an Anti-Spam transaction system, effectively putting an end to “blockchain stuffing” or filling the blockchain with nonsense and spam transactions. By removing these vectors of attack Electroneum’s blockchain further reduces fees, and the speeds increase, including utilization of Electroneum’s Instant Payment Technology. This is a blockchain with Supreme Scalability.
· Public Blockchains Network Consensus
· Time Consuming
· Drags on Performance
· Electroneum’s Moderated Blockchain:
· Maintains 10 Minute Consensus Model
· 5 Blocks
· Easily Reduced Further, If Needed
Public Blockchain applications require considerable time to validate and agree on transactions, known as a network consensus, and it constantly drags on their performance. Electroneum’s Moderated Blockchain maintains a simple 10 minute consensus model of just 5 blocks, and can reduce that further if needed in future forks.
Electroneum Moderated Blockchain Ecosystem
Electroneum has set a new standard, establishing the first Moderated Blockchain. By utilizing a redundant array of highly trusted nodes to moderate the decentralized node layer of the blockchain, and ensure there is no untoward activity, this Proof of Responsibility model sets a new uncompromising level of performance and security. Operating under multiple trusted authorities working together to validate blocks, Electroneum’s Moderated Blockchain is an extremely efficient, secure, and complete ecosystem.