Ontorand Consensus Engine: A Closer Look at Ontology’s VBFT Mechanism
The Ontorand Consensus Engine is an implementation of the VBFT (Verifiable Byzantine Fault Tolerance) consensus mechanism on the Ontology blockchain.
VBFT combines proof of stake, verifiable random function, and Byzantine fault tolerance.
In traditional blockchain systems, every node in the network must maintain a complete copy of the blockchain, which can hinder scalability.
By integrating proof of stake, VRF, and BFT, the Ontology Consensus Engine (OCE) creates a blockchain that theoretically enables near-infinite scalability, enhanced security, and improved transaction speed.
Exploring Ontology Blockchain
Ontology blockchain is a public project and distributed trust collaboration platform.
It aims to make decentralized trust systems accessible to all by connecting different blockchains, enhancing the efficiency of business applications, and enabling mainstream users to utilize public blockchains without requiring in-depth technical knowledge.
The Ontorand Consensus Engine operates using VBFT (Verifiable Blockchain Fault Tolerance) technology, which doubles the processing power of consensus to mitigate faults.
It incorporates a proof-of-work algorithm and ensures that nodes verify transactions on the VBFT blockchain by performing computations.
Simplifying Security Through Pairings
VRF is a part of an innovative cryptographic scheme that employs pairings to create a new, equally secure, yet simpler function.
It offers more power than traditional two-party protocols such as Diffie-Hellman (DH) or Elliptic Curve Diffie-Hellman (ECDH), providing similar security levels with fewer steps in many cases.
Byzantine Fault Tolerance
Byzantine fault tolerance is a fault-tolerant consensus protocol that ensures the system continues to function even if an arbitrary number of processes fail.
This is crucial for distributed systems where a central server cannot dictate and validate the execution of networked applications.
The term “byzantine fault tolerance” is used to describe fault tolerance in computer systems where failures may be caused by Byzantine faults, which are arbitrary faults not solely due to faulty hardware, including software crashes.
This distinguishes it from more common terms like “fault tolerance,” which implies that only failed hardware can cause potentially erroneous behavior.