CEO of Koinos Group, creators of the Koinos blockchain
On this submit I’m going to discover arguably the only most progressive characteristic of Koinos; its modular upgradeability. At Koinos Group, we aren’t designing the Koinos blockchain round any single characteristic like transactions per second or sharding. As a substitute, we’re designing Koinos in order that it may enhance at a a lot quicker fee than another blockchain, and proceed enhancing even when it achieves a excessive market capitalization, which is exactly when different initiatives cease getting higher.
As essentially the most skilled decentralized software growth workforce on the planet, we’ve discovered first hand that there isn’t a such factor as excellent code and so you’ll by no means know which piece of your code you have to an replace. That is why we make use of modular designs at each layer of the stack. We take nice care to make sure that all programs are damaged down into manageable sub-systems with small footprints and deliberate bridges (or “interfaces”) in order that we are able to isolate faults, pinpoint bugs, and quickly challenge patches.
Whereas modular designs shield the system and make it simpler to seek out and repair bugs, blockchains introduce distinctive challenges as a result of their immutable nature. When modifications need to be made to the system itself, a hardfork is commonly required. A hardfork a blockchain-specific system reboot and reloading course of that’s extraordinarily disruptive, technically difficult and time consuming, and political.
If you happen to needed to extend the speed at which a blockchain might be improved by an order of magnitude, then eliminating the necessity to hardfork could be the best way to do it, in order that’s precisely what we sought to do. When common function blockchains initially launched, upgrading sensible contracts was tough as a result of immutability of the database, which meant that both a hardfork needed to be executed simply to switch one developer’s sensible contract, or a sophisticated system needed to be developed to allow one sensible contract to get replaced by a brand new and completely different sensible contract.
To handle this challenge blockchain builders constructed applied sciences that enabled sensible contract builders to improve their sensible contracts with out requiring a hardfork or the launching of a brand new and completely different sensible contract. This was an unimaginable innovation that we imagine has been underappreciated as a result of it was now attainable to switch a blockchain with out a hardfork.
The issue was that this solely utilized to the code being run by builders. A lot of the code powering the system itself, nonetheless couldn’t be modified with out a hardfork and it was this code particularly that, in our expertise, had held again progress essentially the most. This prompted us to ask the query that in the end led to the event of certainly one of our killer-features; modular upgradeability.
That query was, “If sensible contracts might be upgraded with out a hardfork why not transfer as a lot of the system code as attainable into sensible contracts?” Effectively, that’s precisely what we got down to do. In an effort to do that we needed to construct Koinos completely from scratch, we couldn’t use present blockchain platforms like Ethereum or EOS, however as a result of we made that tough resolution we had been capable of transfer virtually the entire system code into sensible contracts, leaving solely a quite simple blockchain, with solely essentially the most fundamental features wanted to be able to produce blocks and run sensible contracts. That’s why we’re proud to say that the Koinos blockchain framework is the world’s simplest blockchain!
Pushing the Limits of Good Contracts
This submit is all about how we constructed Koinos from the bottom as much as enhance at a extra speedy fee than another blockchain and also you now perceive that this comes from pushing the boundaries of what sensible contracts can be utilized to do. By pushing virtually the entire system logic into sensible contracts, any habits might be added to the blockchain with out requiring a hardfork. However there are different advantages that come from modular upgradeability just like the creation of an on-chain improve path and the truth that paradoxically, modular upgradeability really makes hardforks simpler and fewer controversial. We’ll be masking these matters in future content material, so make sure you subscribe to our YouTube channel, observe us on social media, and be a part of our e-newsletter by heading over to koinos.io, the place you can too be taught extra in regards to the Koinos blockchain. Thanks on your time.
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