Perlin

As it stands, current blockchains and consensus protocols have several performance issues that prevent mass adoption. Ledgers need to be fast, secure and scalable to support the development of decentralized applications (DApps).

Wavelet is a directed-acyclic-graph (DAG) that bootstraps a hardened version of the Avalanche consensus protocol with a novel implementation of proof-of-stake to produce a ledger that is metastable, Sybil-resistant, truly decentralized and fast.

• - A bleeding-fast ledger ...benchmarking results to come!
• - A leaderless consensus protocol that is robust, decentralized and resource efficient.
• - Sybil-resistant via a novel implementation of proof-of-stake.
• - A privacy-preserving layer even in the presence of Byzantine adversaries.
• - Smart contract SDK to support the development of DApps that are secure, practical and scalable.

Perlin’s compute layer is bootstrapped on top of it’s DAG-based ledger unlocking a plethora of underutilized compute resources from everyday devices, to form a decentralized cloud computing marketplace that combats the inflated pricing models set by the oligopolistic cloud computing market.

Miners with everyday devices such as a smartphone, can securely rent away their idle compute capacity in exchange for a virtual currency termed PERLs, to customers of the network (researchers, startups and enterprises) who are in need of computing power.

This is where Perlin’s cryptographic tying of compute resources into a virtual currency is transacted on an open, self-audited distributed ledger, establishing a novel liquid market for computing power.

This paradigm shift in cloud computing will set the precedence for truly decentralized economies - a world where smartphones can collectively process computationally intensive algorithms in areas such as cancer research and artificial intelligence alike.