Ethereum: Distributed version of GLBSE possible?
The concept of a decentralized alternative with an open source to the existing platform of the Bitcoin Stock Exchange, GLBSE (Global Binary Barraise of Securities), has recently gained considerable attention. The idea of creating a distributed GLBSE version without any failure point is an interesting and potential change in the game for cryptomen space.
What is GLBSSE?
GLBSE is a Bitcoin Bitcoin Bitcoin Website website that allows users to buy, sell and trade binary options for various assets. This platform has gained popularity among investors looking for alternative investment opportunities beyond traditional financial instruments. However, its basic technology, which relies on a centralized server, poses significant risks for users, including possible loss of access or data violation.
Why is the distributed version of GLBSE?
The distributed GLBSE version would provide several advantages over the current decentralized model:
- High operation and reliability : With multiple servers and redundant infrastructure, the distributed system could ensure 100% availability, minimizing the risk of problems with one point of failure.
- Improved safety : Distributed architecture can distribute offensive surfaces in several nodes, making it difficult to use vulnerabilities to hackers.
- Scalability : As demand increases, a distributed GLBSE version could more efficiently scale, reduce latency and increase the user’s experience.
- Faster transaction processing : With reduced latency, shops would be processed faster, allowing users to trade at higher speeds.
DISTRIBLE -DISTRIBLEed version of GLBSE
To create a functional distributed version of GLBSE, we can follow these key design principles:
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- Blockchain -based database : Use Blockchain technology such as Ethereum or Hyperledger’s fabric to create a decentralized database to store assets, shops and user information.
- Consensation Mechanism : Implement a consensus algorithm (eg evidence of work, evidence of share or delegated evidence of deposit), which ensures an agreement of nodes on transactions and consistency of data throughout the network.
- Node Message : Mark nodes as “Masters” that manage specific aspects of system such as authentication, trading and order processing.
- User Message : Implement registration, login and authorization mechanisms to ensure safe access to the platform.
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Technical implementation
To implement this concept, we would have to consider the following technical aspects:
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- Blockchain protocol
: Select a suitable blockchain protocol (eg Ethereum, Hyperledger fabric) to create and manage our distributed system.
- Nodal software development : develop node -specific software that can communicate with other nodes, perform authentication and manage user data.
- Distributed data storage : Suggest a scalable solution for data storage using techniques such as Sharding or distributed storage in the buffer to handle increased traffic.
Calls and Reflections
While the distributed GLBSE version offers many benefits, it also represents several challenges:
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