About Layer 1- The web3 stack
The layer of protocol of web3 tech stack contains a variety of protocols, consensus algorithms as well as participation requirements. machines.
Consensus algorithms
Blockchains employ consensus algorithms to guarantee that all nodes agree. This is a fantastic way to improve the effectiveness that the system can achieve. They also add a higher amount of trust. Below consensus , protocols are readily available:
ASIC-optimized proof-of-work (POW)
POW in addition to POS with fallback
Proof of Elapsed Time (POET)
Space and Time Proof (POST)
Casper TFG proof of stake (POS)
Delegated evidence of stake (DPOS)
Byzantine agreement with election of the leader (BA)
Stellar Consensus Protocol
Ripple Consensus Protocol
Blockchain consensus that is led by the blockchain leader
Side chains
Sidechain is a revolutionary mechanism that lets tokens and other valuable assets to transfer from one blockchain to the next. Sidechain is a huge opportunity for developers since they are able to develop decentralized applications without needing to be a part of on the primary chain. Sidechains are distinct parts of a different blockchain network, which provide security for themselves. When one of the sidechains is compromised it affects that specific sidechain only , not entire network.
Participation requirements
It refers to the diverse kinds of blockchain networks that will be reflected on the Web3 stack. The brand new decentralized platform in the web3 stack comprises mostly two types of infrastructure:
Blockchain with no permission or public/private.
Private or Permissioned blockchain
Virtual machine
Virtual machines are created to ensure security and run unsafe codes on all the computers on the network. Let's take a look at the different kinds of virtual machines and state transition machines utilized by various blockchains.
Ethereum 1.0, Wanchain, Hashgraph, Ethermint and others -
Ethereum virtual machine (EVM)
Solana, Cardano - Direct LLVM exposure
Ethereum 2.0, EOS, Dfinity, Polkadot - Web Assembly Virtual Machine (WASM)
Kadena, Corda, Tezos and Rchain make use of their own state-of-the-art machines for transitions.
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