Breaking Through Blockchain Bottlenecks — Technical Advantages of Qitmeer Network
In the wave of blockchain technology, latency and throughput are crucial metrics for measuring blockchain performance.
As an emerging blockchain network, Qitmeer Network aims to surpass the performance bottlenecks of traditional blockchains to meet the diverse needs of various applications. This article delves into the issues of latency and throughput, along with their solutions.
Throughput and Latency Issues in Bitcoin Chain
Bitcoin, as a pioneer in blockchain, was originally intended to create a decentralized digital currency paradise. However, over time, the Bitcoin network has shown limitations in transaction speed and efficiency.
Throughput Limitations
Bitcoin’s network generates a block every 10 minutes, creating a slow transaction processing pace. Additionally, Bitcoin’s block size is capped at 1 MB, which acts like a small pipe unable to handle a high volume of transactions.
Although technologies like SegWit and segregated witness have attempted to expand this capacity, their improvements have been limited.
Latency Challenges
Achieving consensus on the Bitcoin network involves solving complex computational problems, leading to prolonged transaction confirmation times — akin to waiting for a green light at a busy intersection, which can feel exceptionally long.
Bitcoin’s throughput, typically measured in transactions per second (TPS), is approximately only 7 TPS, proving inadequate in today’s fast-paced digital world.
Introduction to Qitmeer Network
Qitmeer Network, a DAG-based blockchain network, is designed to overcome the performance bottlenecks of traditional blockchains. By leveraging its unique consensus mechanism and innovative technologies, it ushers in a new era of blockchain efficiency and security.
Qitmeer Network integrates PoW and MeerDAG (SPECTRE + GhostDAG) consensus protocols, enhancing both security and scalability.
Improvements in Latency by Qitmeer Network
Latency refers to the time required for a blockchain network from transaction submission to transaction confirmation. For Qitmeer Network, reducing latency is key to enhancing user experience and transaction efficiency.
Optimizing Transaction Broadcast Latency
Qitmeer Network employs a DAG structure, allowing multiple transactions to be confirmed simultaneously. This is akin to parallel lanes on a highway, where transactions can swiftly pass through, reducing waiting times.
Shortening Transaction Confirmation Latency
Compared to Bitcoin’s longest-chain mechanism, Qitmeer Network’s MeerDAG consensus protocol allows for the simultaneous existence of multiple blocks.
Consensus is reached by selecting paths containing more honest blocks, similar to an intelligent scheduling system at a busy airport that accelerates flight departures, thereby reducing transaction confirmation times.
Reducing Consensus Latency
By incorporating the SPECTRE + GhostDAG protocol, Qitmeer Network’s hybrid consensus mechanism significantly reduces consensus latency while maintaining decentralization and security.
Its greedy algorithm rapidly identifies sets of honest blocks to achieve consensus, enhancing overall network efficiency.
Enhancement of Throughput by Qitmeer Network
Throughput refers to the number of transactions a blockchain network can process within a given time. Qitmeer Network is designed with a strong focus on improving throughput to meet the demands of large-scale Web3 applications.
Enhanced Parallel Processing Capability
Qitmeer Network’s DAG structure allows for parallel transaction processing, enabling the network to handle a large volume of transactions simultaneously without the constraints of traditional chain-based structures such as block size and generation speed.
Faster Block Generation Speed
Qitmeer Network’s SPECTRE protocol accelerates block generation frequency while ensuring network security, enhancing transaction confirmation speed and processing capacity.
Compared to Bitcoin and Ethereum, Qitmeer Network demonstrates advantages in block speed and size, achieving higher throughput.
Balancing Latency and Throughput
In blockchain system design, balancing latency and throughput is often crucial.
Qitmeer Network cleverly achieves this balance through its unique DAG structure and MeerDAG hybrid consensus mechanism, reducing latency significantly while markedly improving throughput.
Future Outlook
Qitmeer Network’s innovations and optimizations in latency and throughput lay a solid foundation for its widespread application in the Web3 domain.
