Blockchain technology has arguably revolutionized our conventional ways of transactions and managing data. Nonetheless, it’s associated with limitations. One imperative challenge that has prevailed in the blockchain ecosystem is the concept of fixed block times. This results in inefficiencies, as apparent in traditional blockchains like Ethereum and Bitcoin that operate on fixed block time, especially when there are needs to respond to higher transaction demands.
That’s the gap the DMD diamond blockchain has come to fill, by bringing a sustainable solution termed as dynamic block time. This article aims to explain the concept of dynamic block time, its existence as an offering on the DMD diamond blockchain and how it benefits the blockchain ecosystem in its entirety.
The Dynamic Block Times
The dynamic block times ability of a blockchain refers to its capacity to adjust the time it takes to create new blocks based on the ecosystem condition and needs. This helps eliminate inefficiencies such as slow transaction confirmation times during higher transaction demands and wasting resources during low transaction traffic, as seen in blockchains with fixed block times. Hence, dynamic block times on a blockchain offer adaptability and flexibility.
Why Dynamic Block Times?
A major advantage of dynamic block times on blockchains is the enhanced scalability of the network. In conventional blockchains, surges in transaction traffic do result in users experiencing delays and increased transaction fees due to backlogs of unprocessed transactions.
However, blockchains employing dynamic block times, like the DMD Diamond blockchain, can quickly adjust, and process more transactions per second during higher transaction traffic and fewer during smaller transaction volumes. This scalability enhancement facilitates a seamless user experience and reduced transaction fees. Furthermore, it helps the ecosystem to efficiently utilize its resources, and seamlessly adapt to ever-evolving demands/use-cases in the dynamic blockchain space.
The DMD Diamond Blockchain – Changing The Narrative
The DMD diamond blockchain has come to change the narrative in the blockchain industry by offering dynamic block times in its ecosystem. This innovation is made possible because the DMD diamond blockchain leverages a cooperative HBBFT algorithm, supplemented by a delegated proof of stake (DPoS) based validation election mechanism and EVM smart contract abilities. These leverages afford the ecosystem the capability to dynamically adjust its block times based on ecosystem needs – resulting in all-time optimal efficiencies.
Bitcoin which operates on the PoW algorithm utilizes a mining difficulty that on average the network mining hash rate would be able to solve the complex PoW riddle in the 10 min target block time. However, cooperative consensus like HBBFT employed by the DMD diamond blockchain doesn’t pass through such difficulties, and hence, present ecosystems like ours with highly demand-driven block times.
When there are higher transaction demands on the DMD diamond blockchain, our ecosystem creates blocks almost immediately, one block after the other. The block creation continues in such momentum until there is no transaction anymore to be included in a block. The ecosystem waits until it sees a new transaction to start creating a new block. The minimum waiting time between blocks is 3 seconds and the maximum time without a block is 10 minutes, followed by an empty heartbeat block. Just like the minimum gas fee used on the network, both values are also prone to adjustment by the dmd diamond blockchain DAO.
In most blockchains, block finders are rewarded per block creation, which results in unpredictable amounts of blocks generating unpredictable reward distribution. In contrast, DMDv4 rewards aren’t per block created but after every epoch – a 12-hour timeframe with which an active validator candidate acts in the HBBFT consensus engine to validate a transaction. This generates more blocks if needed, without a negative impact on the DMD diamond coin economic framework.
In conclusion, dynamic block times as exemplified on the DMD diamond blockchain represent a paradigm shift in the blockchain industry. It not only facilitates a scalable blockchain ecosystem but also enables a user-friendly and sustainable network. Therefore, blockchain adopters who don’t mind benefiting from this first industry feature should consider hosting their projects on top of the DMD diamond blockchain.
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