Bystack — Blockchain as a Service Platform (BaaS)
To create a harmonized functioning between byte and atom assets, Bytom is leveraging blockchain technology to develop a diverse programmable and asset economy. Bystack, a Blockchain as a Service (BaaS) platform, was recently introduced for managing and establishing blockchain networks quickly for commercial purposes.
The innovative mainchain-sidechain model optimizes consensus algorithm, smart contracts, privacy, scalability and cross chain interoperability. Consumers can utilize the new cost-effective and highly efficient platform to execute and manage blockchain networks in various business operations; This is what makes it secure and user-friendly with minimum complexity.
The mainchain and sidechain have their designated functioning. Mainchain uses decentralization and security to destroy and issue assets while sidechain accounts for higher performance by compromising a part of the decentralization and runs commercial operations on a larger scale. Another advantage of sidechain is to meet different application needs; the number of sidechains can go beyond specific.
The out of the box model enables Bystack to serve several purposes like Copyright confirmation, supply-chain Finance, Royalty Redemption, Company Equity Management, and a lot more applications.
Breaking the conundramatic blockchain triangle
Blockchain, undoubtedly, is revolutionary at the moment and yet there exists an impossible triangle that demands to be broken; decentralization, security, and scalability is the issue every blockchain company faces. One cannot overlook the binary paradox of decentralization and scalability if security in Baas platform is made essential.
Bystack is the solution and it helps achieve decentralization while maintaining high performance. How? In this model, the Bytom blockchain (mainchain) is connected to Vapor (sidechain) through Federation, a cross-chain solution.
Layer one in Bystack offers an environment that requires no permission, guaranteeing decentralization. Mainchain also supports in initializing issuance, transmission, and destruction of assets and then later securely attach them to sidechain using Federation protocol. Simultaneously, mainchain allows storing and certification of digital fingerprints of all the assets in the process. Transaction security and data immutability is ensured by the Bytom blockchain’s Proof of Work (PoW) algorithm.
Layer 2 embraces Byzantine Fault Tolerant (BFT) algorithm for better efficacy in each transaction. The transaction speed per second under this protocol can hit the 100,000 marks. The duo (mainchain-sidechain) together prospers decentralization for public chain and scalability for private chains. Bystack, secures and brings stability to its mainchain and sidechain handles all the performance, scalability and other necessary attempts required for a successful transaction.
Bytom also developed a unique DPoS and BBFT for the sidechains, based on the consensus algorithm. How does it work? Voting is done for the nodes resourcing DPoS. The selected nodes are then made to reach a consensus through BBFT; This results in new block generation under 0.5 seconds. The combination remarkably enhances sidechain’s efficiency.
Furthermore, enterprises or individuals can create their sidechain and build an application from it; they can also use the existing ones.
No Compromise high performance with security and privacy
What makes Bystack stand out is its combination of mainchain-sidechain and sidechain-sidechain. The development is on par with anything seen before. Say, there’s an attack on one sidechain, the attack will not affect the mainchain or other sidechain operation, ensuring complete stability in the blockchain network and since the asset transfer protocol is divided into several processes, one misbehaving validator will not have any effect on others.
DPoS+BBFT consensus algorithm in Bystack offers high BFT. Security and stability of the blockchain network is guaranteed through recovery of data, automatic recovery of the consensus state and automatic routing of the node service.
BUTXO is an upgraded version that carries multiple asset transactions and enhances Bitcoin UTXO model. Here, independent contracts lock each BUTXO so when there is a hacking attack on a contract; hackers can only get to the assets locked inside that contract. Other contracts and assets remain unaffected.
This solution could drive the blockchain future; it has everything a customer would look for on a blockchain network; security, transaction speed, high performance, scalability, and decentralization. Everything adds to cater to enterprises or individuals having different scenarios. You could be climbing Kilimanjaro and not worry about your assest.