What Is DEXON?
DEXON is a distributed ledger technology based on a blocklattice architecture and DEXON Consensus Algorithm (DCA).
By providing an infinitely scalable, permissionless, low-latency, and Byzantine fault tolerant decentralized platform for DApps development, DEXON aims to solve existing bottlenecks that hinder the mass adoption of blockchain technology.
The DEXON inter-chain bridging protocol can support any kind of DLT to be bridged onto the DEXON Network – making it inter-operable between different blockchain systems.
How DEXON Works
DEXON achieves infinite scalability through its blocklattice architecture. The transaction processing throughput scales linearly with the number of nodes participating in the DEXON consensus. Furthermore, when a node has reached its maximum throughput, it can scale out to infinite number of shards to balance the transaction processing loads, achieving theoretically infinite scalable transaction processing throughput.
Traditional blockchains grow blocks linearly, block by block, so they are difficult to scale. By contrast, in the DEXON Network, randomly selected node grows its own blockchain in parallel and in a non-blocking fashion. No node has to wait for any other node’s information as it extends its own blockchain.
DEXON Consensus Algorithm
In order to achieve consensus in a blocklattice each chain broadcast the existence of the new blocks to all other nodes on the network once they have been produced. As other blocks receive the broadcast, they perform an “ack” or “acknowledgement” that serves as a validation and timestamping for the creation of the new block.
In order to generate a globally-ordered chain which contains all the valid blocks that have been produced from all the nodes on the DEXON Network, each chain executes the DEXON total ordering algorithm and the DEXON timestamping algorithm individually. As a result, each chain maintains a copy of the globally-ordered data, called the DEXON compaction chain, so that it can be further compacted into signed state milestone blocks through the Merkle tree technique.
DEXON’s Smart Contract Platform
DEXON’s smart contract platform has a number of unique features that make it stand out from competitor platforms, such as:
DEXON’s proof-of-participation (PoP) mining reward mechanism is the most decentralized and symmetric mining reward model in the market. Every node has equal probability of becoming a block producer at any time, and has equal validation power.
With the state-of-the-art VRF-based cryptographic sortition algorithm, DEXON will be able to operate with millions of nodes while still maintaining low communication overhead.
Asset Trading Protocol
DEXON is best suited for serving as a high-frequency digital asset trading settlement layer across different blockchain systems due to its sub-second transaction confirmation latency, front-run attacks resilience, and inter-chain bridging capability. To facilitate digital asset trading, the DEXON Network is built with an atomic swap digital asset trading protocol.
DEXON’s TPS is substantially faster than Bitcoin, Ethereum, and other “next gen” blockchain platforms
All assets are issued in the account directly and natively, so benefit from DEXON’s high TPS instead of being bounded to smart contract executions. Moreover, DEXON is built with a novel liquidity sharing mechanism, and orders are aggregated by our DEXON DEX, which removes the need for a relayer.
Blockchain Technology Problems DEXON Solves
Blockchain technology is revolutionizing the Internet from a client-server, centralized architecture to a distributed, decentralized architecture. However, existing blockchain technology is still unable to achieve the performance requirements of modern real-world practical mass-adopted DApps because of the limitations inherent to their architecture.
DEXON is designed to solve these problems present in other blockchain systems. Examples of the problems DEXON provides a solution to include:
DEXON Application Scenarios
Due to DEXON’s infinitely scalable, low-latency, and Byzantine fault tolerant properties, it is feasible for any high-throughput applications to integrate decentralized ledger technology into their platform.
Possible application scenarios include:
Want to Learn More?
If you’d like to learn more about DEXON, read the DEXON whitepaper, or refer to our informative FAQ page. If you want to join discussions, join our Telegram group or social media channels. We also have a media page featuring news articles, interviews, and videos about DEXON. If you’re interested in joining the DEXON team, please apply on our jobs page.