Ep. 47 - TrustNote, a mineable, public DAG ledger with a two-tier consensus mechanism

On this LAB Radio, episode Chris Groshong talks shop with Jeff
Zhou, founder of TrustNote, a mineable public DAG ledger
with a two-tier consensus mechanism. (Cryptographic Algorithms:
BLAKE2, BIP32-Ed25519)


The architecture is designed for high concurrent transactions and
confirmation times. 


Jeff Zhou, Founder of TrustNote 



Jeff's background began with chip making and eventually
led him to realizing the lack of scalability with
Bitcoin:


"A few years back Jeff Zhou started working on blockchain and at
that time he developed BTC+LTC dual mining chips and hardware,
the technology was sold to a world-wide market.Jeff then tried to
develop an IoT software platform based on blockchain technology,
and after several months of trial and development, he encountered
serious issues with scalability and the transaction fees were
very high. Issues like these prevent mass adoption of the
blockchain technology and ultimately drove the foundation of the
TrustNote open source project and its development of a fast,
scalable, and light platform to provide high-performance for
everyone on every device at a lower cost."


Now with TrustNote Jeff aims to create a new alternative
architecture to the traditional Blockchain construct.


The TrustNote whitepaper elaborates on the details of the
project and core architecture:


"Today’s blockchain technologies face many challenges such as
network congestion, high transaction fees, and long delays in
transaction confirmation. TrustNote seeks to address these
problems by building the world-leading public Directed Acyclic
Graph (DAG) ledger which is minable, capable of handling high
concurrent transactions yet still maintain quick transaction
confirmation."


Above is a breakdown of how the TrustNote DAG compares
with two other DAG focused projects, IOTA and Byteball.


After listening to this episode you will learn:


About how Jeff worked on secret projects for the Chinese
Government before moving into the chip-making industry

How they combined multiple algorithms into one chip (allowing
multiple mining algorithms under one unit)

Why Mining is big and concentrated in China

Jeffs thoughts on China and how the worlds borders are
opening up thanks to technology like Bitcoin

What a DAG is and how they are using this technology as a
Blockchain alternative

Why Consensus is one of the biggest challenges to Blockchains

Why they are aiming to solve this through a hybrid approach
of architecture options

What TrustNote is and how it works and when it's mainnet will
be ready

Why Jeff began with learning C languages (like C++) but also
like other languages like Rust



For show notes and more please visit: LAB Radio