As it stands, current blockchains and consensus protocols have several performance issues that prevent mass adoption. Ledgers need to be fast, secure and scalable to support the development of decentralized applications (DApps).
Wavelet is a directed-acyclic-graph (DAG) that bootstraps a hardened version of the Avalanche consensus protocol with a novel implementation of proof-of-stake to produce a ledger that is metastable, Sybil-resistant, truly decentralized and fast.
Perlin’s compute layer is bootstrapped on top of it’s DAG-based ledger unlocking a plethora of underutilized compute resources from everyday devices, to form a decentralized cloud computing marketplace that combats the inflated pricing models set by the oligopolistic cloud computing market.
Miners with everyday devices such as a smartphone, can securely rent away their idle compute capacity in exchange for a virtual currency termed PERLs, to customers of the network (researchers, startups and enterprises) who are in need of computing power.
This is where Perlin’s cryptographic tying of compute resources into a virtual currency is transacted on an open, self-audited distributed ledger, establishing a novel liquid market for computing power.
This paradigm shift in cloud computing will set the precedence for truly decentralized economies - a world where smartphones can collectively process computationally intensive algorithms in areas such as cancer research and artificial intelligence alike.
India Development Manager
Perlin is the first practical, trustless and decentralized cloud computing marketplace that leverages underutilized compute power in everyday smart-devices to make supercomputing economically viable and accessible globally. This is achieved via a DAG-based distributed ledger using Avalanche consensus.
Researchers, developers, startups and enterprises incur excessive costs to power up the cloud machines/instances they rent from centralized cloud computing providers.
Perlin is creating a decentralized, trustless cloud computing marketplace which delivers massive computational throughput and power with the ability to attain high transaction volume and market activity, effectively reducing the cost of computing power.
Perlin has offices in Singapore, New York, Sydney and Hong Kong.
Perlin’s ledger is DAG - a data structure that maintains a topological sorting. It is comprised of a series of nodes with directed edges between earlier and later nodes within the sequence and it presents itself as one of the first monumental alternatives to blockchains scalability issues.
To reach consensus, Perlin’s ledger uses the Avalanche protocol - a leaderless Byzantine fault-tolerant metastable distributed ledger protocol that holds high magnitudes of confidence thresholds despite the potential presence of Byzantine adversaries. A technical paper released by the group Team Rocket titled ‘Snowflake to Avalanche’ details the protocol here.
Avalanche consensus achieved 1,300 tps on a network with 2,000 nodes and a median consensus latency of 4.2 to 5.8 seconds.
In comparison, Ethereum achieves 10-15 tps with inconsistent latency times spanning minutes to several hours. Over time, we have seen highly congested blockchains suffer as per queueing theory.
The recent introduction of metastable consensus protocols from the Snowflake to Avalanche has intrigued researchers and engineers across the cryptocurrency space, and has been the basis for much of the exciting research and development efforts we have undertaken here at Perlin.
However, misnomers, edge cases and minor discrepancies around this new family of protocols have yet to be addressed and that is why we have pieced together a novel, practical high-throughput ledger: Wavelet that is metastable and Sybil-resistant.
Avalanche consensus achieved 1,300 TPS on a network with 2,000 nodes and a median consensus latency of 4.2 to 5.8 seconds.
In comparison, Ethereum achieves 10-15 TPS with inconsistent latency times spanning from minutes to several hours. Over time, we have seen highly congested blockchains like Ethereum suffer as a result of queueing theory.
The ledger stores network data. The compute layer is Perlin’s own decentralized application bootstrapped on top of the DAG-based ledger.
Yes, Perlin’s ledger provides developers with the infrastructure to create DApps with ease, security and scalability.
Perlin ties the remote allocation of a specific amount of computational time and resources through cryptographic means into a virtual currency termed PERLs.
PERLs will initially be distributed as ERC20 tokens. However PERLs will be swapped with our native token upon the release of our mainnet.
Very few (if any) projects reveal their seed round metrics, however with full transparency these are our official token-sale metrics.
Seed Sale (Dec, 2017 to Jan, 2018) - 20% of Tokens Issued. At the seed round the project was pre-whitepaper, had no technical development and no strategic partners. Token price of $0.04 with a 12-month lockup from time of investment and a 12-month vesting period from token-generation-event. This means that any vested tokens are not accessible within the lockup period.
Strategic Sale (April, 2018 to May, 2018) - 20% of Tokens Issued. At the strategic round the project had a 3 person team, whitepaper v1.0, 3 months of technical development and over 60+ strategic partners. Token price of $0.12 with 6-month vesting from token-generation-event.
Private Sale (June, 2018 to July, 2018) - 7.5% of Tokens Issued. At the private sale round the project had 10+ person team, whitepaper v2.0, 3 separate independent code reviews with high marks, 5 months of technical development and over 200+ strategic partners and token purchasers. Token price of $0.20 with 3-month lockup from exchange-listing.
Further Sale Details. TBA