Supra To Present Moonshot Consensus Mechanism At DSN 2024

Supra, an all-in-one Layer-1 blockchain platform that offers oracle data feeds and verifiable randomness to more than 80 blockchains, will present its Moonshot consensus mechanism at the upcoming DSN 2024 Conference.

According to a press release obtained by crypto.news, Supra’s team will present the Moonshot whitepaper, which describes the consensus mechanism and demonstrates how it sets a new standard for the blockchain industry. The presentation will compare Moonshot with Jolteon, a leading decentralized consensus algorithm known for its high performance.

In November 2023, Microsoft’s IVy Verifier formally verified Moonshot. The system’s algorithms were designed to prevent forking as long as less than a third of its network consists of malicious validators. 

Supra has gained prominence in the blockchain industry with its Distributed Oracle Agreement (DORA), which integrates real-world data into blockchain systems. It seeks to improve blockchain capabilities by tackling Byzantine faults and data integrity issues, vital for smart contracts in Web3 environments. 

Byzantine fault tolerance measures a system’s ability to continue operating even if one or more components fail.

Moonshot has achieved an impressive processing rate of 530,000 transactions per second across 125 globally distributed nodes. The mechanism also showcased a 500-millisecond optimistic finality and complete block finality within 1.5 to 2 seconds, outperforming many other consensus mechanisms in the market.

The DSN 2024 conference will be held at the University of Queensland in Brisbane, Australia, from June 24 to 27. 

Supra is a powerful platform designed to serve as a comprehensive solution for blockchain development. It integrates oracles, bridges, automation, and randomness into a robust Layer-1 with MultiVM compatibility. This means that Supra provides a solid foundation for building and deploying decentralized applications, supporting multiple virtual machines, and ensuring developers’ flexibility and scalability. 

It also provides developers with tools to create advanced decentralized applications (dApps) and offers oracle price feeds and verifiable randomness services with Layer-1 security to multiple blockchains.  

Supra is innovating further with its newly introduced DAG-based protocol, Sailfish. Sailfish aims to enhance latency performance, and when combined with the Moonshot consensus algorithm, it is expected to achieve significant performance improvements.