Blockchain technology is undoubtedly on a trajectory toward mainstream adoption, with a wide range of advantages that can benefit all other industries in some form or another. In fact, the global blockchain market size is expected to reach USD 56.7 billion by 2026, growing at a cumulative annual growth rate (CAGR) of 56.9% from USD 6 billion in 2021.
However, the rapid growth of the blockchain industry has also put the limitations of the technology into the spotlight. Existing blockchains face challenges with scalability and security. They are also slow, complex to use and damaging to the environment. These drawbacks are all dire issues which are now drawing skepticism and frustration from a public preparing to put the technology to mainstream use.
ARCHEthic is a decentralized consensus protocol blockchain that solves all of these problems. Built with cutting-edge technology based on four years of research and development, ARCHEthic uses a unique consensus protocol and security layer to deliver on their promise of being extremely safe and environmentally friendly, as well as infinitely faster and more scalable than other blockchains on the market.
ARCHEthic launched their mainnet beta on June 30 2021. A testnet also runs simultaneously on the same infrastructure as the mainnet.
On building the fastest consensus protocol
At the heart of the ARCHEthic blockchain lies the ARCH Consensus Mechanism, a unique consensus protocol built from the ground up to address the problems of speed and waste that plague other blockchains. The blockchain accomplishes this via a “transaction chain” concept:
All blockchains are composed of linked “blocks” of recorded transactions. In other blockchains, each block contains data pertaining to multiple transactions. ARCHEthic, on the other hand, has made their blockchain much more efficient by reducing each block to contain only one transaction with its own proof of validation. The blockchain then groups and links blocks with similar kinds of transactions, and runs multiple parallel chains of different groups.
This consensus protocol results in a network unhindered by speed-related bottlenecks — it can handle an unlimited number of transactions per second. This makes for a much more scalable solution suitable for mainstream adoption in industries such as retail.
To make some comparisons to other blockchains, the Bitcoin network currently requires a validation time of 10 minutes and can process seven transactions per second, while Ethereum validates in 15 seconds and handles 20 transactions per second. Some modern blockchains are better built and can handle millions of transactions per second — but that is still a limitation. ARCHEthic, on the other hand, is unique in that it can process a truly limitless number of transactions per second, making it alone best suited to high network traffic.
After four years of development and rigorous testing, the team is confident in the value of ARHCEthic’s blockchain protocol. They are also hopeful that it will expand and bring value to every industry where it is deployed.
Blockchain that doesn’t damage the environment
The efficiency with which ARCHEthic handles data also makes it much more eco-friendly than most other blockchains, with each transaction only requiring 0.42w of energy. This allows ARCHEthic to store between 190 to 9000 times the number of transactions of the Bitcoin network.
ARCHEthic accomplishes this through a process it calls “geo-secured sharding”. Instead of broadcasting every transaction to all nodes for validation like other blockchains do, ARCHEthic selects random sets of nodes to validate transactions. This method is still capable of meeting the same high standards as traditionally modeled blockchains, but with greatly reduced power consumption.
In fact, the ARCHEthic Yellow Paper claims to be able to handle the current mining power of the Bitcoin network — comprising 93 million annual transactions — with only 295 ARCHEthic nodes that would consume just over 38 thousand kWh/year, or 3.6 billion times less than Bitcoin itself.
Institutional security standards
ARCHEthic also makes no compromises concerning the security of its network, with a security layer capable of ensuring the risk of network corruption is infinitesimal.
Owing to the way the blockchain is designed, the probability of detecting anomalies in the network rises dramatically as the number of nodes in the network increases. The more nodes in an ARCHEthic network, the safer it is. This allows the ARCHEthic blockchain to continue functioning without concern, even if up to 90% of the network has been compromised.
The team has said that ARCHEthic’s decentralized security layer is on par with that of aviation industry safety standards, making fraud virtually impossible.
About ARCHEthic Public Blockchain
ArchEthic is a highly scalable, tamper-proof Blockchain with scalability greater than 1 Million TPS, and validation time of less than 5 seconds. The blockchain has the capacity to handle up to 90% maliciousness, 3.6 billion times less energy consumption than Bitcoin, and 0.1% of the transaction fees.
The platform aims to replace and improve all current applications with a comprehensive and open ecosystem, allowing people to move from the trust imposed by centralized to decentralized systems while keeping identity and privacy under the control of the user.
With ARCHEthic, you can access your identity but no one owns it. The security and threat issues that centralized systems pose helped us realize that self-sovereign identity is needed now more than ever. An Open Source autonomous & Decentralized network in the hands of the world population created by the people, for the people.
ARCHEthic Official Links