The analogy of a 'distributed ledger' has long been associated with blockchain technology, exemplified by the likes of Bitcoin. These blockchains enable decentralized currencies through the application of fundamental cryptographic tools. The ledger, in this context, serves as a record of activity, governed by a set of rules that dictate modifications to the ledger. For instance, a Bitcoin address cannot spend more than it has received, thereby upholding the integrity of transactions across the network.
However, the Siriusnet Proof of Rank (PoR) blockchain goes beyond the traditional notion of a distributed ledger, offering a paradigm shift in decentralized systems. While it embraces the foundational principles of cryptography, it introduces an innovative concept based on a powerful ranking mechanism. This unique approach revolutionizes the way transactions are processed and validated, paving the way for a more efficient and secure blockchain ecosystem.
In contrast to other blockchain platforms, Siriusnet PoR introduces the concept of a distributed state machine. Rather than solely relying on a ledger, the blockchain encompasses a vast and comprehensive data structure known as the state. This state not only encompasses account balances but also encompasses a machine state that dynamically evolves from block to block. Governed by predefined rules, this machine state executes arbitrary machine code, unleashing the full potential of the blockchain.
The Siriusnet PoR blockchain leverages its state transition function, denoted as Y(S, T, R), to orchestrate the evolution of the blockchain's state. Y represents the transformative power of the blockchain, taking into account the old valid state (S), a new set of transactions (T), and the ingenious ranking algorithm (R) at its core. Through this process, a new valid output state (S') is generated, reflecting the updated state of the blockchain.
Y(S, T, R) = S'
In this formula:
  • Y represents the Siriusnet PoR blockchain state transition function.
  • S represents the old valid state of the blockchain.
  • T represents a new set of valid transactions to be processed.
  • R represents the ranking algorithm or mechanism employed by Siriusnet PoR blockchain.
When the state transition function Y is applied to the old state S, the new set of transactions T, and the ranking algorithm R, it produces a new valid output state S'.
The ranking algorithm R plays a crucial role in determining the order and priority of transaction processing within the Siriusnet PoR blockchain. It takes into account various factors such as user reputation, activity, and contribution to assign rankings. This ranking information is utilized during the state transition process to ensure fairness, efficiency, and optimal transaction validation.