We’ve told you about AmazeWallet. Now it’s time to learn about AmazeChain, the Layer 1 blockchain on which our entire ecosystem sits.
- The Blockchain Trilemma
- Jay’s solution to the Blockchain Trilemma
- AmazeChain’s revolutionary tech
- The AmazeChain-AmazeWallet relationship
What is the Blockchain Trilemma?
AmazeChain was launched in 2017, when founder and creator Jay, noticed a problem. Decentralized networks, in their current configurations, cannot scale while remaining affordable and secure. This is known as the Blockchain Trilemma.
The moment blockchains get too popular, gas fees go up. Or when too many people use them, transaction speeds start to slow down. Maybe a few platforms have solved the problems of speed and transaction costs; but as 2022 showed us, bridging technology leaves networks open to hacks.
Smartphones: The key to scalability
Mobile phones.
Spread the network across the five billion smartphones across the world. Give everyone the power to own and secure AmazeChain. There will be so many people validating transactions, and no way for a single organisation to take control by buying up all the tokens and running all the nodes. And it’s all Layer 1, so there’s no bridging back to an underlying blockchain and risking exposure to security flaws.
So for the past six years, a core team of around 75 people, and a wider group of over 400 contributing coders have been creating a product that can deliver a new internet that works for everyone.
This is where AmazeWallet enters the story. But before we get onto that, let’s take a look at the tech behind AmazeChain.
Warning: the following explainer contains some high-level conceptual ideas, suitable for avid learners, genius developers and radical engineers.
AmazeChain’s revolutionary tech
Miner Verification Structure
Miners generate blocks through three steps:
- Proposal
- Verification
- Final confirmation
Proposal involves the global sorting of transactions, checking the layered pre-sorting, labelling input and output state dependencies, and non-parallel transactions. This generates input states and proofs, zk-EVM processing proofs, output states and commitments, minimizing data and generating a sorting structure.
Verification is divided into tasks that are performed by smartphones, PCs, and servers connected to the internet for nearly 24 hours every day. The verification calculation for millions of transactions involving polynomial commitments and zk-EVM proofs is very small, and can be completed in milliseconds by ordinary smartphones, without causing overheating or visible reduction in battery life.
Most of the time is spent on receiving data and returning multi-signature results. Smartphones act as light nodes for verification, earning transaction fees and rewards. We call this mobile mining.
Final confirmation involves merging the received verification results. Millions of transactions per second can be split into tasks of a million each, including redundancy and game theory algorithms to prevent collusion among hackers.
The number of participating mobile nodes and the chain’s TPS grows nearly linearly. The system is considered valid when it receives a 2/3 vote. We’ve developed the verification process to continue, even in the face of communication delays or the occasional loss of signal or battery life.
If there is a large-scale node dropout or internet outage (such as a complete disconnection between America and Europe), the system postpones the final confirmation and records the locally correct transactions in uncle blocks (which are usually used for offline transactions).
ZK-EVM
This is a virtual machine that generates zero-knowledge proofs to verify programme correctness. Its aim is to execute smart contracts in a zero-knowledge manner. Unlike conventional virtual machines, the zk-EVM verifies programme execution correctness, including the validity of the inputs and outputs used in operations.
Thousands of transactions and contract executions no longer need to be repeated by each node, and only a small amount of verification computation is required to ensure their correctness.
The developers divide the zk-EVM into three parts:
- The execution environment
- The proof circuit
- The verification programme
The execution environment is where programmes (smart contracts) run in the zk-EVM. The execution environment in the zk-EVM is similar to that of the EVM: it uses an initial state and the current transaction to output a new (final) state.
The proof circuit generates zero-knowledge proofs to verify the validity of transactions calculated in the execution environment. The process generates proofs using the previous state, transaction input, and new state information as input. The prover then obtains a concise proof of the validity of that particular state transition.
The verification programme submits the validity proof to the verification programme on the mobile device, including the input and output states. The verification programme then runs the calculation on the provided proof to confirm that the submitted output state is correctly calculated based on the input state.
The AmazeChain-AmazeWallet relationship
We built AmazeWallet as a portal to AmazeChain. Our users can access all the benefits and perks of the latest blockchain technology, all from one place: their mobile. Our community helps us truly decentralize our network while giving us their computing power so we can process more transactions per second than any other network.
In return, users receive AMT tokens.
Long gone are the days when users were passive members of their network, expecting nothing in return for their time, content and effort. With AmazeWallet and AmazeChain technology, everyone is an active participant. And for their effort, they get tokens. We’ve created what Web3 has been promising for years.
Our smartwallet app has four features:
Each one of these are built on the principles of ownership, control and security. Blockchain technology ensures transparency and accountability. And we created these so that what you own – your digital assets – remain in your custody.
Whether it’s your tokens, your NFTs, your mining rewards or your conversations, you will maintain control of them with AmazeWallet.
