“Empowering faster payments with the potential for 1.19 millions transactions per second”
Amid the hyper-growth world of blockchain technology, the launch of XDB Chain protocol (v19) marks a key milestone toward bringing the power of web3 to brands and consumers. This release embodies a purpose-driven approach by introducing substantial improvements to the XDB Chain Core, laying the groundwork for the development of Layer 2 solutions that enhance user experience (UX) and enable the tech framework for the mind-blowing payment processing speed of up 1.19 million per second.
XDB Chain protocol (v19) is all about enhancing your experience by making payment channels accessible to any use case. These channels are like a high-speed express lane for Brands and Consumers frequent transactions, allowing users to carry out most of the activities away from the blockchain, while keeping track of users’ starting balances and ultimate settlements securely recorded on the blockchain.
In the world of payment channels, things work a bit like a well-orchestrated dance. When users and another party kick off a channel, it all begins with an on-chain transaction that gives both control over the accounts. After that, transactions flow between parties, like passing notes in class, and they get checked and approved off-chain to ensure the highest throughput.
When one of the parties decides it’s time to wrap things up and settle, it simply announces its intent to close the channel. This action opens a brief window for the other party to voice any concerns. Think of it as having an opportunity to discuss things if there’s a disagreement or if someone’s acting in haste or unfairly. If everything’s smooth sailing, the settlement transaction is sent to the network, marking the final movement of funds on the blockchain.
This Layer-2 approach theoretically opens the door to achieving up to 1.19 payments per second with buffering. However, we emphasize the importance of caution in guaranteeing this level of processing in every transaction, and we maintain a conservative stance in this regard by not enabling it yet in the first stage of protocol v19 launch.
To this end, we’ve initiated preliminary collaborations with potential enterprise partners to unlock the full potential of processing 1.19 million payments per second. We are currently engaged in rigorous testing of this technology stack and are delving into real-world use cases that extend beyond traditional legacy technologies.
While XDB Chain’s easy-to-use multi-signature features have made it simple for people to manage shared accounts, v19 steps in to simplify the complexities involved in the rest of this process. Before this protocol, a transaction would only be considered valid if the source account’s sequence number was precisely one more than the sequence number used in the previous transaction. This constraint prevented the seamless progression of sequence numbers in off-chain channels.
What’s more, introducing time delays into transactions was simply not possible, leaving no room for addressing objections or voiding a settlement transaction. Additionally, authorizing transactions by combining signatures required a cumbersome multi-step process, causing delays and operational friction. XDB Chain protocol (v19) resolves these challenges by introducing new preconditions and an innovative type of signer.
One of the two first additional improvements introduces a user-friendly set of transaction conditions, allowing you to add special requirements to ensure the safety of your transactions. Imagine these conditions as time limits, ensuring that your transactions are only valid within specific timeframes. With XDB Chain protocol (v19), you can craft transactions that don’t follow a strict sequence, set boundaries for your ledger, introduce delays for added security (we call them “relative timelocks”), and require additional signers, such as hash locks.
The real-world value of these conditions shines through in cases like Kaladin, a project making blockchain connections as easy as swapping assets without relying on middlemen. These functionalities will be fully leveraged at a later stage and will be introduced in more details in the coming days. Their innovative solution, built on state channels, an advanced version of payment channels, makes the most of XDB Chain protocol v19’s conditions to add a delay between starting and completing channel closures and to create secure hash time lock agreements that keep asset swaps in perfect sync.
The second additional improvement introduces a brand-new signer type that makes it easy for multiple parties to create and sign a bundle of transactions. Most importantly, if one transaction is signed, authorized, and sent, it shares information that allows all other transactions in the bundle to be authorized as well.
We’re also committed to providing comprehensive documentation in the Developer Documentation and Laboratory sections. These resources are part of our ongoing rebranding efforts and will be ready in the coming days. With XDB Chain protocol (v19), we’re on the cusp of transforming the blockchain world, bringing you unparalleled capabilities and innovations in the realm of digital protocols.
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