Quick jump
Hello and welcome to this blog post about Flash White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Flash white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Flash (FLASH).
I can ensue you that, you will be able to understand every bits and pieces related to Flash (FLASH) after going through the Flash white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Flash White Paper
Flash (FLASH) white paper will be going to provide you, all the information that is needed to get started with Flash (FLASH), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Flash (FLASH).
Abstract
“ FLASH will implement a new delegate-based consensus model called FLASH Consensus (FC). FC retains the decentralized spirit of cryptocurrency by relying on elected Delegates to rapidly reach blockchain consensus and ensure security.
Every user will be able to use FLASH coins to cast votes for Delegates. Delegates will vote on network matters such as transaction fees and miner selection.
Delegates elect 25 Miners who create new blocks on the blockchain. Rather than using PoS or PoW to secure the chain, FC controls the ordering of block generation rights by providing each Miner with a specific timeslot during which they can mine a block.
When a Miner creates a block on the chain, that block serves as a vote indicating legitimacy. This new delegate model maintains network security while simultaneously enabling high transaction throughput.
The FC algorithm also introduces a concept called Consensus Height (CH). CH refers to the moment when >50% of elected Miners have created a block on top of any given block in the chain. When this happens, consensus has been achieved and a block is considered legitimate.”
White Paper Link: Flash White Paper
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