DMD Diamond Blockchain is one of the few blockchains that survived unprecedented crypto winters. Beyond that, from 2013, which dated the inception of the blockchain, it has exhibited a lot of revolutions to meet blockchain industry demands. That is where switching to the Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm began.
DMD Diamond Blockchain – Using HBBFT Algorithm
Adopting the Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm by the DMD diamond blockchain is to solve the market demands for speed and security. While the DMD diamond team analysed available options of consensus algorithms, HBBFT appears to be the most promising – it has the potential to dramatically increase the efficiency and enhance the security of the DMD diamond blockchain.
Andrew Miller, Yu Xia, Kyle Croman, Elaine Shi, and Dawn Song developed the Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm in 2016 specifically to solve the problem of slow transaction times and the ordeals of having synchronous communication on an extensive global network.
Below are the advantages moving to the HBBFT algorithm offers the DMD diamond blockchain:
- It improves the security for Byzantine Fault Tolerance. Hence, the security of our blockchain is assured.
- There is no mining, and hence, no excessive energy consumption and carbon footprints.
- It ensures instant transaction finality, i.e. Immediate transaction approval, without waiting for synchronous approval.
- It offers higher throughput, i.e. higher transactions per second, at least 400 TPS.
- Increases popularity with implementations in the Helium blockchain and xDAI (upcoming) Artis.eco (upcoming).
- Fosters robustness of the blockchain.
- Offers the inability to fork the protocol and eliminates the problem of orphan blocks in the chain. Therefore, no accidental or intentional forks.
- Helps to Identify and eliminate malicious nodes.
- Ability to implement dynamic block times – the creation of a new block can start 1 second immediately after the previous one, and therefore, there are no empty blocks
An exciting read, right? Stay tuned for more!
