Ontorand Consensus Engine: Reinventing Blockchain Agreement
Ontorand Consensus Engine is a VBFT consensus engine on the Ontology blockchain.
What is Ontorand Consensus Engine (Ontology)?
Ontorand Consensus Engine is a VBFT (verifiable Byzantine Fault Tolerance) consensus engine on Ontology blockchain.VBFTS consists of the combined share-proofing, VRF and BFT, that make it difficult for scale to scale in any network. By combining share checking with VRF and BFT, the Ontology Consensus Engine (OCE) enables an open blockchain that can theoretically provide near infinite scalability, high security and speed.
Because Ontorand’s consensus engine operates on VBFT (Verifiable Blockchain Fault Tolerance) technology, the consensus computing power is doubled to mitigate failures. It applies a proof-of-work algorithm and ensures that nodes’ transactions are validated on the VBFT blockchain, forcing them to perform calculations on it.
VRF is part of an innovative cryptographic scheme that uses pairs to create a new, equally secure but much simpler feature. It is more powerful than traditional two-way protocols, such as those that rely on Diffie-Hellman (DH) or elliptical Diffie-Hellman curve (ECDH), and in many cases provides the same level of security with fewer steps.
Byzantine fault tolerance is a fault-tolerant consensus protocol. The algorithm ensures that if an arbitrary number of processes fail, the system will still work. This is very important for distributed systems where you cannot rely on a central server to dictate and check the execution of a network application. The term “Byzantine fault tolerance” is used to describe fault tolerance in computer systems where failures can be caused by Byzantine failures (i.e. arbitrary failures not just related to faulty hardware, such as software failures). This contrasts with the use of more typical terms such as "fault-tolerant" which imply that only faulty hardware is the source of possible faulty behaviour.
What sets VBFT apart from other consensus algorithms is its tight integration with Ontology’s blockchain governance model. It is adapted to deal with Ontology-specific parameters without compromising the randomness and fairness of the consensus process. With VBFT, public blockchains can improve both performance and scalability. As a consequence, it allows dApp developers to maximise their creativity – the blockchain ecosystem is hugely dependent on dApp developers. VBFT has a long way to go, and it will only get better with time.