Our novel Distributed Ledger Technology powers our platforms and solutions.
peaq’s Distributed Ledger Technology combines our two most important inventions - the DAGchain and the ADDBFT consensus algorithm. We developed the DAGchain as our novel database structuring and node communication protocol. The DAGchain is structured so as to require minimum complexity and time for search and verification of transactions by our novel consensus algorithm, ADDBFT. peaq was designed specifically for the Internet and Economy of Things. This is the technology that powers the platforms and solutions we and our partners develop.
The DAGchain is built to handle over 20,000 transactions per second with confirmation times of 0.5s. These are boundaries we're already pushing further. Efficiency, speed and scalability are essential.
The DAGchain was built to exceed business requirements. It fulfils the all-important needs for speed, scalability and security while ensuring stable prices and predictable fees, and being fully GDPR compliant.
The DAGchain leverages distributing computing power and PQC (Post Quantum Cryptography) to ensure its long-term viability. It's also built to fit a sustainable future by not requiring large amounts of energy to operate.
Smart Contracts on peaq are used to execute all sorts of business logic depending on the particular use case. Smart Contracts can be programmed in any programming language compiled with WASM (WebAssembly).
DAGchain technology combines the Directed Acyclic Graph with blockchain technology to create a high-performance hybrid infrastructure for industry. Transactions are grouped into blocks which are stored in a database of full nodes. Full nodes sync blocks once validators reach ADDBFT consensus.
The DAGchain represents a novel way of structuring and communicating data which is fit for our increasingly hyperconnected world. We filed a patent for the DAGchain to protect it from corporations who may wish to use it in centralized ways which conflict with its original purpose. We plan to open source parts of our technology when the time is right, towards a common, open future.
ADDBFT stands for AI-Delegated DAG Byzantine Fault Tolerance. Artificial Intelligence (AI) helps to reduce the dependance on humans in the consensus process by utilising randomisation algorithms and optimisation methods. DAG is short for Directed Acyclic Graph, the structure by which nodes communicate, while BFT refers to Byzantine Fault Tolerance by Tendermint, of which we follow the best practices. We developed the ADDBFT consensus algorithm in-house, designed specifically for the DAGchain. Here’s how ADDBFT reaches consensus:
The node selection process is done by AI (Artificial Intelligence). There are three types of full nodes: Validator, Generator and Storage nodes. Roles are randomly delegated each round based on node weight by using randomisation algorithms and optimisation methods.
The best practices of Byzantine Fault Tolerance by Tendermint are followed in the Transaction Flow and in the Block Flow. Two thirds of chosen Validator Nodes per round must agree for consensus to be reached.
Full nodes communicate using a DAG (Directed Acyclic Graph) structure. Full nodes use messages, hashes and state flags to communicate consensus statuses and to synchronise the ledger.
Consensus is reach without the need for mining, only rewards and fees. ADDBFT leverages Distributed Computing Power, and consensus is reached in 0.5s in private networks and ~ 1s in the Interoperability Platform (public network).
Smart Contracts on peaq are used to execute all sorts of business logic, varying according to use case. They run on-chain for maximum trust and enabling Smart Contract to Smart Contract calls. Smart Contracts on peaq can be programmed in any programming language compiled with WASM (WebAssembly) such as Python, Go, Rust, Java and C. WASM is continually developed by major companies such as Google, Apple, Microsoft and Mozilla. Additional benefits of WASM include:
– Memory-safe, Sandboxed, and platform-independent.
– Floating point operations can be removed to make Smart Contracts deterministic.
– 64 and 32-bit integer operation support. Maps one-to-one with CPU instructions.
– Supported by the LLVM compiler infrastructure project. WASM benefits from over 10 years of LLVM’s compiler optimisation.
peaq is designed for the Economy of Things - a hyperconnected world where machines and people constantly interact and transact at scale. Performance, therefore, is key. Our novel data structuring mechanism combined with our ADDBFT consensus algorithm allows our DLT to hit 20,000 transactions per second with confirmation times of 0.5s for enterprise platforms and 5,000 transactions per second with conformation times of 1s for the interoperability platform.
Data protection and privacy are of utmost importance. peaq doesn’t only fulfil GDPR compliance requirements but also helps to transition us into a world of better data protection and privacy by enabling self-sovereignty of data and identity. Peaq ensures GDPR compliance by only storing non personalised data on the ledger, while enabling stakeholders to store and access relevant data on a separate meta-database.
There are many ways to attack today’s cryptography algorithms such as Simple Power Analysis (SPA) or Lattice Attacks on ECDSA. In order to prevent these and ensure security which is relevant far beyond the 2020s, we are using the U.S. government’s National Institute of Standards and Technology (NIST) proposed algorithms for Post-Quantum Cryptography (PQC).
peaq’s ADDBFT consensus algorithm is not energy intensive. Elected nodes do not compete against each other but work together in achieving consensus. The DAGchain solves the most significant issue with consensus protocols - the amount of computational power needed in order to search for hashes on the chain. peaq ensures environmental and economic sustainability and efficiency.
Our technology is already being used by some of the world's largest and most forward thinking companies. Get in touch with us to find out how you can leverage peaq for your business today.