Scalability has become a bit of a buzzword in the blockchain space. Some blockchains are torn to shreds because they can’t scale quite like their competitors, meanwhile other projects are boasting their insane scalability metrics without any other context. Is it all a farce?
The truth is, scalability does matter… a lot – depending on the application.
As this space grows it has become increasingly clear that the scalability required for real-world use is lacking, especially in areas that would require high data throughput.
In many cases a highly scalable solution isn’t just desirable, it’s imperative. For businesses and larger enterprises to embrace digital ledger technology, there needs to be guarantees of consistent, efficient transaction times with low latency and fees. Real use cannot be plagued with unpredictable processing times or any network downtime due to overload.
As existing blockchain networks become adopted and the daily use grows, there is noticeable friction in terms of scalability. Performance is limited by consensus mechanisms and block size limitations.
If scalability and real-world application of cryptocurrency is something that interests you, Constellation is a cryptocurrency project that is making some very interesting developments. Let’s take a look.
An introduction to Constellation
Constellation is a cryptocurrency project designed to handle Big Data with extreme scalability, low transaction costs, easy integration, and top tier security. Amongst it all is $DAG, the native token that fuels the ecosystem.
With Constellation, companies would be able to handle massive datasets in a secure, efficient and cost-effective manner.
Fueled by the recognition that existing blockchain technology is incapable of scaling, Constellation took the leap to utilize a different form distributed ledger technology (DLT).
The core data structure of Constellation uses a Directed Acyclic Graph (DAG) within which transactions are stored in multiple data structures. Each transaction is sent intelligently throughout the network instead of being sent to every single node to maintain constant network stability.
Constellation doesn’t utilize DAG like other cryptocurrency projects such as IOTA or NANO. Network transactions and observations are stored in multiple data structures instead of just storing them in a linked block structure. Consensus is formed asynchronously in small clusters and then gossipped across the entire network for efficiency.
The end result is significantly enhanced scalability compared to other options. Furthermore, because of how the network is set up, as the number of nodes in the network increases, so does the processing power of the network.
The Strengths of Constellation
It’s not just scalability that makes Constellation stand out from the competition. It was built from the ground up to facilitate easy adoption so it’s straightforward for developers to get on board and begin to use DLT. There is a focus on Java and Scala, two common programming languages, to appeal to the mass market.
To facilitate easy onboarding, Constellation had to consider what their target market actually needs. Developers aren’t interested in using something that is hard to use or doesn’t solve their problems. Therefore, in order to create a decentralized data marketplace, Constellation undertook the task of building open source tools that solve the common problems developers have.
Since Constellation is decentralized there is no single point of failure like there would be with a centralized alternative, a strong security benefit. Companies are also able to toggle their data storage on and off-chain to meet personal security parameters.
By leveraging DAG, Constellation is able to offer a highly efficient, cost-effective solution for data processing.
Constellation and Data Management
Constellation can unlock additional value from large datasets. By using Constellation companies would have a secure, tamper-proof audit trail that vastly improves data management. What’s more, access is designed to be simple – just plug in via an API.
Data is highly valuable. Industries are always searching for new ways to leverage enormous data sets, hence the explosion of technologies such as machine learning and artificial intelligence. Constellation is the next step beyond these data revolutions. It is a distributed system that can facilitate big data analysis with countless real-world applications.
Over time a portal will be built on Constellation where Developers will be able to monetize applications and services that they build on Constellation via a marketplace. This is great for both parties. Developers are able to monetize their work, and users are able to find and use applications that revolutionize their data management process.
Spore is a platform on top of the Constellation network which can be simply integrated with existing tech stacks to provide early visibility into data pipelines by acting as an added layer of validation and security. The Spore dashboard provides analytics and insight so companies can be sure their data is reliable and auditable.
Constellation is a cryptocurrency project that is utilizing distributed ledger technology to provide a decentralized data marketplace and management solution.
Constellation is focused on scalability and ease of use and has already secured a number of promising partnerships that will utilize their data solution.