Block Collider is a brand new technology called a multichain, which is built on an advanced proof-of-work algorithm called “Proof-of-Distance”. Block Collider operates as a method of settling cross-blockchain transactions by weaving together the states of all connected blockchain networks and recording this information into a single immutable ledger.
The Proof-of-Distance algorithm requires the Block Collider miners to produce a valid cryptographic proof which demonstrates that they have observed the most recent blocks issued by each network connected to Block Collider. This proof is included within each block on the Block Collider multichain, creating a unified cryptographic state of the ecosystem with each new block issued.
At its simplest, a blockchain is an immutable ledger that comes from the activity data on a given protocol.
A multichain is also an immutable ledger, but rather than being comprised of blocks of data from only one protocol, it ingests the data from many blockchain protocols to create a block which is made up of other blocks.
For a more thorough review of the evolution of blockchains leading to Block Collider’s multichain, you can refer to this document.
Undeniably, blockchain technology has the potential to transform and restructure our existing economy. However, due to the limitations of incumbent technologies (https://docs.blockcollider.org/docs/blockchain-vs-multichain), there is a lack of interoperability between blockchains which hinders growth and innovation.
Disparate blockchain networks are prevented from reusing, triggering, or executing transactions on other blockchains. Networks seeking to collaborate or interact are forced to rely on middlemen and third party platforms in order to bridge the gap. These third parties are a compromise to the design philosophy of decentralized technologies and introduce significant vulnerabilities to the industry as a whole (read more here).
By connecting disparate Blockchain networks together, and baking connectivity into the technology itself, Block Collider helps organizations and individuals leverage the unique benefits of siloed Blockchain networks from one single platform.
Block Collider currently incorporates the Bitcoin, Ethereum, Waves, Neo, and Lisk blockchain protocols into its multichain.
Yes! This process will be entirely open source and community driven, along with the process of removing blockchains, but the initial cohort of additional protocols will be decided upon by team member’s of Block Collider.
Generally speaking, “blockchain mining” is the process of adding transaction records to a blockchain’s public ledger of past transactions. This process is both difficult and resource-intensive and is done by devoting computation power from a "mining rig", or a single computer system, that performs the necessary computations for "mining".
Being a Block Collider miner or running a Block Collider node is defined as performing the task of continuously observing the states of all connected blockchain networks within the multichain, monitoring for occurrences relevant to the trades and transactions. As a result of miners verifying the current state of all child chains, miners also verify and add new cross-chain transactions by processing them locally.
Miners must expend computational resources to perform this activity, racing to produce cryptographic fingerprints which prove that they have in fact observed the latest blocks issued by connected chains. Those who are able to do so successfully earn NRG as a reward for their contributions to the network.
To read more about how to set up a Block Collider mining node and earn NRG, refer to this document:
They are the economic instruments of the Block Collider ecosystem:
- NRG - “The reward for participating in the network.”
- Emblems (EMB) - “A method of supercharging your mining reward.”
- Leased Emblems (L-EMB) - “A means of liquidity for EMB.”
Refer to the sections linked above for a deep dive on each of these tokens.
Timble, named after Timothy Berners-Lee, is a scripting language which was created to operate the compiler in the Block Collider multichain.
Similar to Bitcoin’s opcodes, Timble is the coding language that allows you to create scripts within the Block Collider ecosystem. These scripts can be fed into the compiler, which also verifies the validity of the script by using the historical Block Collider chain.
Any transaction on Block Collider can be expressed as a Timble script. For example: the transfer of NRG between addresses. That script would be written in Timble and ingested by the compiler, which would validate the transaction. In this case, the compiler would check if the sending wallet has enough NRG to fulfill the transfer. This is a very simple example, but the use cases are endless! Read more details about the Timble scripting language here.