Public EVM-Compatible Blockchain for the Future
Urzo Network aims to be a public, EVM-compatible blockchain, offering significant advantages such as low transaction fees, fast confirmation times, double validation, and randomization for enhanced security. Urzo Network envisions an ecosystem of diverse DApps running on its blockchain infrastructure, fostering a decentralised social economy.
Platform Capabilities
To achieve this vision, Urzo Network has developed a platform that enables developers to create decentralised applications (DApps) on a public blockchain. The platform offers:
Open Source: Available for public use and contribution
Customisable: Allows developers to tailor solutions to specific needs
Extensible: Supports growth and adaptation over time
Addressing Blockchain Bottlenecks
Urzo Network proposes a solution to the transaction processing performance bottleneck that limits Ethereum’s adoption, particularly in finance. Key issues and Urzo Network's solutions include:
Efficiency
Problem: Low throughput in Bitcoin and Ethereum
Solution: Implementing an efficient and secure consensus protocol to increase transaction throughput
Confirmation Times
Problem: Long confirmation times (1 hour for Bitcoin, 13 minutes for Ethereum)
Solution: Reducing confirmation times through a new consensus protocol
Fork Generation
Problem: Fork chains consume computational energy and time and pose security risks
Solution: Implementing mechanisms to reduce fork generation and improve network security
Urzo Delegated Proof-of-Authority (d-POA) Consensus
Urzo Network introduces the Urzo Delegated Proof-of-Authority (d-POA) consensus, a PoA-based blockchain protocol featuring:
Double Validation
Strengthening Security: Ensures additional verification to reduce forks
Reducing Forks: Enhances network stability and security
Randomization
Fairness: Guarantees fair distribution of validation tasks
Prevents Handshaking Attack: Mitigates risks associated with pre-arranged collusions
Fast Confirmation Time and Efficient Checkpoints
Quick Finality: Reduces transaction confirmation times
Efficient Checkpoints: Ensures quick and reliable network updates
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