Alephium-Launches its Mainnet Providing Secure Smart Contracts
- Collaboration of these two features provides a secure, decentralized network.
- Alephium employs the core bitcoin stack design and UTXO transactions.
Alephium has officially launched its mainnet after robust testing and auditing. This launch is set on its recent achievements, including the $3.6 million pre-sale funding round, which just concluded a few months back. It has been designed to bring innovation on various proven features of legacy networks similar to Bitcoin’s security and Ethereum’s smart contract capabilities.
The network load is effectively distributed by deploying its unique BlockFlow sharding technique in such a way that it provides scalability for smart contracts and Dapps, making sure the network fees are at a minimum, thus making sure developers don’t look for other options. Unlike other sharding approaches, the sharding technique takes single-step cross-shard transactions and a structure that removes any chances of a 1% shard attack.
Speaking on the mainnet launch, Alephium Founder and core developer Cheng Wang states:
“It’s made to support powerful, scalable yet user-friendly decentralized applications and protocols. We welcome the community of developers and miners to join us in improving the ecosystem one project at a time.”
In a case of a 1% shard attack where a singular party dominates a single shard hashing capacity, thus it compromises the entire network. Alephium makes sure that only a 51% attack can compromise the network through the decentralized way. Moreover, efficiency in energy achieved through the Proof-of-Less-Work (PoLW) consensus mechanism proves that the difficulty that arises from mining is figured through a set of tokenomics and physical work, thus decreasing the network’s footprint on the environment.
Core Bitcoin Stack Design
Remarkable stability and security are offered by the bitcoin network, although there are throughput and scalability drawbacks. Alephium takes a different way of solving this drawback even though layer-2 scaling solutions aim to solve it. Alephium employs the core bitcoin stack design and UTXO transactions and incorporates sharding to achieve similar results at the layer 1 level.
Further highlighting the network’s EVM capabilities, Wang states,
“Alephium offers a whole new programming paradigm for decentralized applications, ideally suited for performance-oriented and secure DeFi. Leveraging Alephium’s custom virtual machine, dApps can now benefit from the security offered by the stateful UTXO model without sacrificing the power and expressiveness of smart contracts.”
Moreover, the incorporation of Ethereum-native features like smart contracts and Dapp support is taken place, thus assisting in making the network lucrative for DeFi developers allowing for stronger security of the Bitcoin network. Collaboration of these two features provides a secure, decentralized network. Thus provides accessibility, user-friendly applications, and open protocols.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
