What is Elisia?
Elisia is a new cryptocurrency based on its own unique Blockchain technology. Elisia provides lightning fast, free transactions and enables users to easily create free DAPPS and the ability to create their own cryptocurrency with the click of a button!
Elisia has been designed with 4 pillars of strength:
1. Speed - as fast as a lightning
2. Free - it does not cost even a dime
3. Security - even a savage criminal hacker can't handle
4. Simplicity - nothing less, nothing more !
The industry has been waiting for Elisia.
Now the time has come!
The Problem Elisia Want's To Solve
Some projects focus on security, some focus on speed and some focus on the multiple usages of the platform. Different blockchains target different sets of user groups; ie Ripple’s main user groups are financial institutions, Tron’s main user groups are social/entertainment channel users, Ethereum’s main user groups are token builders, etc.
With blockchains, we come to consensus over a block of transactions, such that no transaction conflicts with any other, neither in this block nor prior blocks. However, with the emergence of different blockchain platforms, neither a single blockchain developer nor a blockchain user is arriving at a consensus over using a blockchain platform for building their Dapps. Apart from this existing blockchain platforms are burdened by large fees and limited computational capacity that prevents the widespread blockchain solution adoption by businesses.
Each and every business wants to develop a Dapp on such a platform, which provides the lightning fast transaction speed with security and zero fees along with providing an option to migrate from one blockchain app development platform to another as per their business vision and need.
Every blockchain is plagued by either of two problems:
1. Interaction with Other Blockchain: There are currently 2,000+ different coins and tokens in existence as per the CoinMarketCap data. However, not a single blockchain platform allows migrating of one blockchain to another blockchain as a fully functional sidechain. This problem creates a doubt over the sustainability of a blockchain developed by small group of members or unknown group. It also restricts the blockchain to reach its full value potential. Over the period of a time the blockchain becomes dysfunctional and results in wastage of monetary, infrastructure and other resources.
e.g. Trig token by the Blocksafe Foundation. Trig Blockchain’s aim was to resolve the problem around licensing and usage of arms/ammunitions globally. Trig token was listed on only one exchange Binance with a Market cap of $10,400,663. The moment Binance announced the delisting of Token the market value dropped by almost 60% to $3,747,663 in 2-3 trading sessions.
What was the reason behind such a massive fall in price? It was the inability of the Blocksafe Foundation to migrate the Trig token to their separate Blockchain in a given time.
Imagine the situation of a business, who has developed a Dapp on platform like Trig. The instability of their main network, will cost a fortune to the said business and the business will be forced to develop the Dapp from scratch to another blockchain platform.
2. Wide spread adoption: While a number of blockchain platforms have struggled to support functional decentralized applications, application specific blockchains such as the BitShares decentralized exchange and Steem social media platform have become heavily used blockchains with tens of thousands of daily active users. They have achieved this by increasing performance to thousands of transactions per second, reducing latency to 1.5 seconds, eliminating per-transaction fees, and providing a user experience similar to those currently provided by existing centralized services.
But the real question is how many existing developers have started building their applications using aforesaid blockchain architecture whether for file sharing or for social media or for anything else? Blockchain is known for its security. Almost everyone understands that a decentralized application cannot be hacked and most of them are equipped with Byzantine fault-tolerant system, still how many cryptocurrency exchanges are decentralized exchanges? The problem with existing blockchain application development platforms is either they don’t allow migration of apps over one blockchain to another platform with a single click or minor fixes or they don’t come with a pre-defined tool set to develop an application.
Quantum Resistance
While Elisia works on the principal of a DPOS, it is secured against the threat of quantum computing. However, Elisia’s sidechain network adopts various kind of protocols like Proof-Of-Stake, Proof-Of Work, etc. which are not secured against the threat of quantum computing. To protect the Elisia’s Main chain from being corrupted by the side chains, for a security measure we have decided to introduce the quantum resistance ledger system.
Introduction To Winternitz OTS + Algorithm
Buchmann introduced a variant of the original Winternitz OTS by changing
the iterating one-way function to instead be applied to a random
number, x, repeatedly but this time parameterized by a key, k, which is
generated from the previous iteration of fk(x).
This is strongly unforgeable under adaptive chosen message attacks
when using a pseudo random function (PRF) and a security proof can
be computed for given parameters. It eliminates the need for a collision
resistant hash function family by performing a random walk through the
function instead of simple iteration.
Huelsing introduced a further variant W-OTS+, enabling creation
of smaller signatures for equivalent bit security through the addition
of a bitmask XOR in the iterative chaining function. Another difference
between W-OTS(2011 variant)/ W-OTS+ and W-OTS is that the
message is parsed log2(w) bits at a time rather than w, decreasing hash
function iterations but increasing keys and signature sizes.
Introduction to XMSS
The extended Merkle signature scheme (XMSS) was first reported by
Buchmann et al. in 2011 and was published as an IETF draft last year. It
is provably forward secure and existentially unforgeable under chosen
message attacks with minimal security requirements: a PRF and a second
pre-image resistant hash function.
The scheme allows extensions of one-time signatures via a Merkle tree
with a major difference being the use of bitmask XOR of the child nodes
prior to concatenation of the hashes into the parent node. The use of
the bitmask XOR allows the collision resistant hash function family to be
replaced.
Security Measures
In the design of the ledger it is important that the cryptographic security
of the signature scheme is secure against classical and quantum computing
attacks both in the present day and also future decades. XMSS using
SHA-256, where w = 16, offers 196-bit security with predicted safety
against brute force computational attack for hundreds of years.
An extensible stateful asymmetrical hypertree signature scheme
composed of chained XMSS trees is proposed. This has the dual benefit
of utilizing a validated signature scheme and allowing generation of
ledger addresses with the ability to sign transactions avoiding a lengthy
precomputation delays seen with giant XMSS constructions. W-OTS+ is
the chosen hash-based one-time signature in the scheme for both security
and performance reasons.
Blockchain Parameters
DPOS System Architecture:
Elisia will launch its main net with 51 block producers authorized to
process the transactions. For consensus building the block producers are
elected into a round of 51, each producer gets one block per round,
and is rewarded for the validation of incoming transactions and production
of the block of transactions. A block released by one producer is
validated by the next and the next and so forth; if not validated, it is not
built upon.
A block that is accepted by a quorum of producers is declared
immutable, and the chain of immutable blocks becomes in effect a
checkpoint. Like proof of work, producers can censor (ignore) messages,
or they can front-run by introducing their own from their superior knowledge
of the future.
Governance In Architecture
To provide transparency in block producer selection and their governance
over bad acts by producers, each round of producers is
continuously elected by the community using proof of stake (PoS).
Block Production:
Bitcoin has a time between blocks of roughly 10 minutes, but with
natural variance this can on occasion lead to fairly long periods before
the next block is mined. Newer ledger designs such as Ethereum have
improved upon this and benefit from a much shorter block-times (15
seconds) without the loss of security or miner centralization from high
rates of orphan/stale blocks.
Elisia will have a block production rate of 5 seconds!!!
Conclusion
Elisia is neither just a cryptocurrency nor a blockchain app development
platform. It is a decentralized ecosystem. By building the Elisia platform
on top of a highly secure blockchain, integrating the mixture of different
technologies, Elisia aims to provide a user-friendly platform to increase
user adoption of blockchain technology as a whole. Elisia is aimed at becoming the game changer for the Blockchain industry
and creating a revolutionary application building experience for
businesses as well as developers with zero fees.
Website: https://elisia.io/
Bounty: https://bitcointalk.org/index.php?topic=5066831.0
WP: https://elisia.io/white-paper.pdf
Telegram: https://t.me/elisiaio
Twitter: https://twitter.com/Elisiaio
Facebook: https://www.facebook.com/Elisia-199175400981031/
Reddit: https://reddit.com/r/elisia
Github: https://github.com/Elisia-io
My BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2182909
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