A Robust Blockchain Protocol
Last updated
Last updated
NetDex harnesses the most advanced blockchain technology to achieve remarkable scalability, security, and nearly instant transactions. This decentralized Web3 infrastructure is made possible by a proficient in-house team of blockchain developers boasting years of top-tier experience in leading IT corporations and software development firms.
As elucidated in Sections & , significant challenges must be surmounted to ensure that Distributed Ledger Technology (DLT), namely blockchain technology, can serve as a viable technological solution.
NetDex aims to deliver a decentralized blockchain devoid of a central authority, offering irreversible and cost-effective transactions on a large scale. Unlike systems employing Delegated Proof of Stake (DPoS), NetDex employs no leader selection, and its voting process necessitates no "master nodes."
With the Lachesis Consensus Algorithm (LCA), the NetDex chain implements leaderless Proof of Stake (LPoS), supporting:
Asynchronicity
Leaderless consensus
Byzantine Fault Tolerance
Fast finality
This leaderless consensus mechanism is fundamental to achieving Byzantine Fault Tolerance, ensuring the system can operate even in the presence of fraudulent transactions. The NetDex chain's asynchronous transactions are confirmed within seconds, as explained in Section 5 for a more detailed technical overview.
Parallel processing allows nodes to validate transactions without all working through the same queue simultaneously. Notably, nodes in the NetDex blockchain don't need to transmit entire blocks to each other; only events are synchronized between nodes.
This consensus mechanism empowers validator nodes to scale to hundreds or even thousands, enhancing decentralization and consequently bolstering security. Additionally, this Proof of Stake (PoS) approach not only facilitates rapid transaction speeds and decentralization but also conserves both computing power and electricity compared to a Proof of Work (PoW) approach.