Blockchain Decrypted: The Block Lattice - Visualisation
iwan.spillebeen
Published: 04 Apr 2018 › Updated: 04 Apr 2018
Blockchain Decrypted: The Block Lattice - Visualisation
Part 5, it is high time we get visual, here we take a look at how the block lattice actually works from a visual perspective, what is the sequence of a transaction and how well does it all operate together. A long post because of loads of images.
The block lattice is based on the double entry accounting principle, which is unique in comparison to other blockchains. In order to process a transaction, the user needs to submit a send and a receive transaction and each user has his/her own blockchain (one per node).
Only the node owner can perform transactions on his her own blockchain and the node manages the ledger. The node connects to other nodes over the internet, using IPV6/IPV4 and UDP.
Process in brief
Each transaction is captured in its own block, on the nodes' blockchain (both sender and receiver)
When a receiving block is added, the receiving node broadcasts the block back out to the network to announce it has been observed.
The node then waits and observes incoming publish and confirm messages to see if any conflicting blocks are published
Non-voting nodes will transmit unsigned publish blocks and voting nodes will sign the block with their voting key and publish a confirm message
A message is considered confirmed if there are no conflicting blocks and a 50% vote quorum has been reached.
If there is a conflicting block the node will wait 4 voting periods (1 minute total, 15 sec/period) and confirm the winning block
Basic transactions
The lattice is a set of blockchains per node:
• Alice
• Bob
• Carol
Each have their own chain
Alice is a voting node
Every transaction is 1:1
In order to perform a transaction the node creates a send transaction in its own blockchain (Bob sends to Carol)
The node also creates an identical receiving transaction which is sent to the recipient chain (Carol receives from Bob)
Carol’s chain needs to accept the transaction
It runs the confirmation procedure
It broadcasts the block to the network
It waits for network confirmation (check for conflict)
A voting block (Alice) will sign with their key and publish a confirm message (50% quorum – 15secs)
Simultaneous / Asynchronous
In the block lattice, a large number of transactions happens simultaneously
Some are asynchronous
Example 1
• Carol sends a transaction to Dave
• Dave sends a transaction to Alice which is instantly received by Alice
• Dave accepts Carol’s transaction (1)
Example 2
• Alice sends a transaction to Bob
• Bob sends a transaction to Carol which is instantly received by Carol
• Bob sends a transaction to Alice which is accepted by Alice some time later
• Bob accepts Alice’s transaction (1)
Start of the Lattice / Genesis
Each chain starts with a genesis block, containing the genesis balance
The genesis balance is fixed and can never be increased
The genesis balance is divided and sent to other accounts who further divide it and sent it to other accounts
This provides traceability back to the Genesis block for each account (the sum of all balances of all accounts will never exceed the initial genesis balance)
Now that we’ve outlined the workings of the lattice network, we can look into Network flooding and network echo in more detail, which will be covered in the next two chapters.
Acknowledgements / References
Artwork:
• Title page “Intelligent Solutions” courtesy of http://www.hloom.com/cover-pages/
• Page header / footer “Abstract blue lights” created by Kotkoa - Freepik.com
I write these papers to - hopefully - help make blockchain more accessible to people new to the technology, I don't get paid, nor sponsored to write these papers. If you absolutely feel inclined to donate something to the writing of this document, you can do so at the following address:
Blockchain – Decrypted is written as a series of chapters, aimed at demystifying the various workings of blockchain technology. Where appropriate I use examples from existing or to-be cryptocurrencies, these examples are just that, examples, and do not aim at promoting or otherwise endorsing any given cryptocurrency.
This document does not constitute legal or financial advice and I do not make any guarantees or promises as to any results that may be obtained from using my content. No one should make any investment decisions without first consulting his or her own financial advisor and conducting his or her own research and due diligence. I disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses.
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