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The technological underpinnings of the VIVAconomy are, by necessity, far more complex than those of a traditional cryptocurrency.
Not only does the ecosystem include three interrelated currencies, “VIVA Crowns” (VC), vX (vUSD, vEUR, etc) and “VIVA Coins” (VIVA).
The economy’s prime mover is TradeQwik – a fully functional multi-currency online exchange. An entire software suite engineered to provide seamless functioning of the VIVAconomy via effortless on/off ramping, and exchanging between the ecash world and the “real world”.
To accomplish this the VIVA team has built our base from a foundation utilizing some of the world’s most innovative blockchain technologies, then raising the bar by an entire order of magnitude.
Core functionality of the VIVAconomy is derived from the open source “Hyperledger Fabric”, we have innovated significantly over their architecture to the point where it is effectively it’s own project.
One simple page that explains how the VIVAconomy can help you reach your financial goals. Includes a direct link to our complete white paper.
UltraLedger, began with a fork of the Hyperledger Fabric codebase, and incorporates the ability to perform seamless ndimensional, on-chain graphing. In fact, using the term blockchain doesn’t accurately reflect the VIVA architecture at this point. It’s more akin to an infinitely expandable graph database with the same cryptographic guarantees provided by more traditional blockchains, we just got rid of the drawbacks, by rethinking problems such as Byzantine Fault Tolerance.
With UltraLedger, there isn’t a single canonical blockchain. Instead, there is a mutual agreement of summaries. Simply put, the order of transactions isn’t held in as high a regard as the fact that all balances work out correctly in the end.
Unlike every other blockchain technology out there, so called forking isn’t considered a bad thing. In fact, forks under UltraLedger are not only normal, but expected. Forks are just the blockchain evolving in different places at different times.
UltraLedger is actually a data graph of immutable timestamped records. This is important to keep in mind. It’s an ndimensional graph, not a chain and not a directed acyclical graph (DAG).
Our graph is capable of efficiently searching across an arbitrary number of dimensions, because each data point is considered an atom of information in and of itself located within an n dimensional matrix. Attributes can be added and removed arbitrarily according to business needs, thereby providing arbitrary soft links between datapoints.
In this regard a complete blockchain can be thought of as a large molecule like DNA or RNA whereas UltraLedger itself may be thought of as a complex organism made up of many different cells each with their own DNA. To better understand this we first need to establish some terminology:
1. Channel: an isolated channel of communications. Each channel has its own rules and and can form its own blockchain.
2. Stream: a stream of data generated by the mixing of channels.
3. Fault Tolerance: the ability for the network to compensate when there is a lack of consensus. In the VIVAconomy the penalty for polluting the primary VIVA consensus stream with non-consensus data is severe enough to prevent it, but it’s always majority consensus and the only players in that stream are the mints themselves.
For all other streams, consensus is a by product of business logic of the stream creator and it is up to the players in those channels to determine for themselves if consensus is important and even what constitutes consensus on a given stream. The default block rate is 1 second per block and all messages are valid if signed by someone who has submitted a public key to the PKI stream. To compress this, only non-empty blocks are ever stored in a channel.
Within the VIVAconomy there is a single channel “per coin”, and a complementary channel “per pair”. Orders are placed in the “per pair” channel, and gateways (such as the TradeQwik Exchange) deal in the “per coin” channels.
Each of these channels is its own blockchain with its own rules. Gateways make the interaction between channels simple and seamless.
TradeQwik is the first gateway, and its exchange logic is being ported to UltraLedger and will thus be utilizable by anyone wishing to develop a new gateway into the VIVAconomy.
One of the primary handicaps that other cryptocurrencies like bitcoin have suffered under is the enormous computing resources necessary to maintain themselves.
The multi-dimensional architecture of the VIVAconomy together with the power of a true graph database, resolve this fundamental problem. Worker nodes are able to assume small atomic work transactions that don’t require knowledge of the entire universe of work.
This allows us to offload these atomic units of work into partitioned workspaces of individual computers / miners. Thus, everyone in the economy benefits without the need to purchase, manage and administer huge server farms and complex installations.
Our technological architecture is an engine that provides the power for our primary goals in society – providing a stable economy to all, a solid infrastructure for businesses to build on and a lifetime “living income” to all Vivos (people who utilize VIVA in their daily lives).
If you are interested in a more in depth look into the technological underpinnings of the VIVAconomy, direct access to our team of developers is open to all VIVA Crown Holders.
Dennis H. Lewis is our CMO and is a serial entrepreneur and self-proclaimed digital storyteller. An author of three books, he has an uncanny knack of being able to distill complex technologies and explain them in ways that are fun and approachable. Over his extensive career he has lead startups both in Europe and the United States and currently runs a successful digital marketing firm in Orlando, FL. He has been featured on mainstream media outlets like The New York Times, Good Morning America and the BBC.