RANGERS PROTOCOL: MAKING THE CONSENSUS WORK
THE CONSENSUS PROTOCOL
This fault-tolerant, age-old protocol or mechanism have been used to establish consensus among database nodes, application servers and recently blockchains in cryptocurrency.
Why the Consensus?
This allows a state of harmony in a ‘cryptoeconomic’ system
It also helps deter against certain security breaches by controlling 51% of the network, theoretically mitigating such threats with many mechanisms which are engineered to solve this security problem in different ways.
Origin of the Consensus Protocol
Dissecting Consensus Algorithms is improper without defining what a true Consensus is. A Sybil attack, pseudospoofing or sock puppetry occurs when a malicious actor masquerades as many attackers to garner many resources. A blockchain thus employs a Sybil resistance mechanism combined with a chain selection rule. This is what a censusus is basically . However, for simplicity and educative purposes, there are 2 main types of Consensus, Proof-of-stake and Proof-of-work.
This much maligned Consensus protocol utilizes a proof of computation power which is offered by miners. These use CPUs, GPUs or ASICs with more computer processing power translating into higher hashes and thus the faster calculation of the hash value of the block, with the quickest miner rewarded. With the sheer number off miners required to impose a 51% attack, this brand of Consensus can theoretically stop a Distributed Denial of Service. This is a method where cybercriminals flood a network with multitudes of malicious traffic causing disruption of legitimate packets, to come to a halt.
This is the opposite of Proof-of-work where whales garner much of the crypto, subjugating the minor holders of the token gaining more benefits. So it is easier to spread fake currency because people can quickly purchase such. Thus this Consensus is less secure than PoW but more energy efficient.
However there is a new type. This is a modified PoS called Delegated Pos or simply DPOS.
Proposed by Dan Larimer of EOS in 2018,this is based on voting. There are two roles in DOS-notary and witness. The notary can vote to elect the block producer, the “authorised” party, and the witness refers to the selected node and authorised to conduct block production and verify transactions. The advantage of this mechanism is that when a node with a large number of coins does not have enough expertise to meet the requirements of a high-performance node, the notary can take advantages to vote for high-performance nodes for block verification and transactions. This ensures the efficient operation and block generation of the chain, which is more efficient than POS. However, DPOS is currently unable to solve the dilemma caused by POS.
Incubated by MixMarvel and alpha developed for HyperDragons, with a successful IDO on Polkastarter, this scalable and multichain Layer 2 solution is trying to improve on the Consensus Algorithms utilizing efficient mechanisms.
Rangers Protocol leverages a combination of VRF and BLS to produce a juggernaut of a consensus mechanism. These mechanisms are recent alterations.
Verifiable Random Function
In 1999,Silvio Micali, Michael Rabin, and Salil Vadhan developed this algorithm and then later improved by Yevgeniy Dodis and Aleksandr Yampolskiy in 2005. This is a cryptographic function that processes inputs and produces verifiable pseudorandom output, with absolutely nil knowledge of the private key. In integrating this, the VRF algorithm selects candidate block packagers and candidate block verification groups.
This pseudonym is a combination of its originator surnames Dan Boneh, Ben Lynn and Hovav Shacham. The main idea of BLS is to hash the message to be signed to a point on an elliptic curve and use the exchange property of the bilinear mapping E function to verify the signature without revealing the private key. BLS in Rangers Protocol is mainly used to aggregate the signature of each member in the verification group for candidate blocks to generate the verification group signature.
The Rangers Protocol solution
With a combination of the above algorithms, Rangers Protocol produces a consensus with true randomness via a much reduced computational waste
RANGERS PROTOCOL RESOURCES
About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain connoisseur
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