7 min readSep 21, 2020

CYPHERIUM-A Decentralized Framework

Introduction

Since the inception of Bitcoin, the first public blockchain, researchers, engineers, and entrepreneurs throughout the world have wanted to expand this technology to a broader range of applications. Ethereum, the world’s first blockchain with Turing-complete smart contracts, made a bold attempt to transform blockchain into a general-purpose computing platform. But this blockchain itself was not free of its own problem.

Problems of Ethereum

Ethereum has several serious problems that are also commonly found in other smart contract platforms:

· Using 256-bit integers results in serious performance degradation. Most popular computer processors are built on 32-bit or 64-bit RISC architecture.

· Missing standard libraries and tool libraries. In the development of their smart contract platform, Ethereum developers realize that no standard library presents in their language, Solidity.

· No data object support. Data objects are nowadays widely used in object-oriented programming. The lack of data object support has made Solidity extremely burdensome to process data input and integrate with external APIs.

· Difficult to debug and test. This problem not only presents a design flaw of EVM, but also relates to its difficulty of implementation.

· Floating point and fixed-point operations are not supported.

· Poor security. Since safe math is not supported by default, there are often “one-hundred-million-dollar code losses” caused by integer overflow vulnerabilities.

Blockchain Technology

Although the early pioneers first mapped out blockchain’s potential as a digital payment network and a collaborative data sharing platform, poised to reshape human society entirely, the stark reality of the last ten years has shown us that these technologies were simply not ready to achieve these lofty goals.

A blockchain is a data ledger shared across a network of nodes, which store and replicate a consistent state of transactions. Since its inception as the first public blockchain, researchers, engineers, and entrepreneurs throughout the world have wanted to expand this technology to a broader range of applications.

However, blockchain technology’s revolution has never stopped. Two of the most prominent digital currency projects were announced in 2019: Facebook’s Libra and People’s Bank of China’s DC/EP. Although these projects appear to have abundant resources and a huge potential user base, they are not the best use cases of blockchain technology because they revert back to the use of trusted third parties to expedite their regulatory compliance. However, true decentralization should not run into conflict with any regulator. Just as the internet is permissionless, blockchains can be both fully realized in their decentralization and governed with meaningful oversight.

In order to address the shortcomings of the existing blockchains is the evolution of a third generation Blockchain known as Cypherium.

CYPHERIUM BLOCKCHAIN

Addressing the key shortcomings of existing public blockchain infrastructures and enabling interoperability in every corner of the ecosystem, comes a truly decentralized and scalable framework known as cypherium.

Cypherium is a highly scalable & permission-less hybrid blockchain platform based on proof-of-work and Byzantine fault tolerance consensus. The design goal of Cypherium focuses on achieving the apex of scalability, decentralization, and commercialization viability.

Cypherium is an enterprise-level smart contract platform that features a unique dual-chain hybrid consensus mechanism. The Cypherium blockchain decouples the traditional mining process into a keychain with Proof-of-Work (PoW) and a transaction verification chain with HotStuff BFT (also adopted by Facebook’s Libra). This infrastructure allows the Cypherium blockchain to achieve a throughput speed of thousands of transactions per second, all without compromising decentralization. Our innovative Cypherium Virtual Machine (CVM) not only revolutionizes smart contract technology but also lowers the barriers to blockchain adoption by enterprises. CVM provides instant and absolute transaction finality and Turing complete smart contracts that run on Java, the most reliable and widely utilized programming language in the world.

Cypherium have a long list of enterprise partnerships with global conglomerates and government agencies, including Google, Amazon, IBM, Randstad, and the Federal Reserve Board. Cypherium has also been working closely with IC3, a world-class blockchain technology research & academic consortium, to advance the integration of blockchain technology as a service. With our global network of partners and innovative blockchain infrastructure, Cypherium provides leading-edge solutions to the world’s leading enterprises.

The Cypherium team, hereby set forth five goals for their project:

· An instant ledger to process real-time transactions for billions of users.

· A smart contract platform to enable enterprise use cases for all industries.

· A trusted database to connect isolated data islands around the world.

· An open network to enfranchise any participant or contributor.

· A secure vault to combat the increasing threats to data privacy.

· To achieve their goals, they have built Cypherium only on a foundation of the most cutting-edge and bulletproof technologies to date.

Cypherium Virtual Machine

The consistent execution of smart contracts must derive from the deterministic nature of its main blockchain’s execution results, which means that all transactions must be handled strictly by their chronological order (total order).

By way of introduction, here are some features of the Cypherium Virtual Machine (CVM):

· Compatibility with other VMs and smart contract languages.

· Functionality modularization. Most of the current blockchain designs use unified computing of all smart contracts.

· Nodes can upgrade new virtual machine functionality without downtime.

· Secure docking and external storage package. Storage in the blockchain is very expensive, but the current IPFS solution can solve this problem well.

· Enhanced security. All operations Cypherium virtual machines are executed under sandbox isolation, and internal procedures will always provide its own operating status to an external monitor.

· Self-contained cross-chain atomic operation package. With the diversification of blockchain applications, there are more and more public chains, consortium chains, and private chains.

Cross-ledger Support

Today’s financial systems are built on permissioned architecture, creating barriers for monetary flow and interoperability. For example, Eurozone’s TARGET2 cannot directly connect to China’s CNAPS, and transactions between two systems must be processed through a third party, the SWIFT network, which charges hefty membership fees and becomes a threat of power concentration. In order to establish a seamless transition from the current financial system landscape to a global digital asset network, blockchains must be able to interact with assets running on various legacy systems. To date, three types of cross-ledger scheme exist:

Notary Scheme

This method can be understood as a Witness mode of centralized or multi-signature functionality, where the witness is a legitimate user of chain A, responsible for monitoring the events and status of chain B, and then operating chain A. The essential feature here is that there is no need to pay attention to the structure and consensus characteristics of the cross-chain mechanism separate from the normal workings of each blockchain. Assuming that A and B cannot trust each other, this method simply introduces a third party that both A and B can trust together to act as a notary public. In this case, A and B can indirectly trust each other.

Hash-locking

Hash locking originated from the HTLC (Hashed TimeLock Contract) of the Lightning Network and is now widely used. The process can be diagrammatized as shown below;

Sidechain/relay

The side-chain system can read the events and status of the main chain and operate distinctly based on that information. That is, a side-chain system operates through SPV (Simple Payment Verification) and can verify the information of the header and Merkle tree of the block. The distinguishing feature here is that one must pay unique attention to the structure and consensus characteristics of the cross-chain mechanism. In general, the main chain is oblivious to the existence of the side chain, while the side chain depends entirely upon the existence of the main chain; similarly, the double chain does not know the existence of the relay, and the relay must know the two chains.

Digital Currency Interoperability Framework

Cypherium introduces the Digital Currency Interoperability Framework to enable cross-chain transactions. The notary could be any trusted third party. Compared with many others and taking into account the characteristics of its particular network, Cypherium has developed a notary mechanism CypherLink, which is based on the InterLedger protocol, an open protocol initiated and led by the Ripple company. Any company or individual can participate in joint development and use it for free. It is not linked to any blockchain or XRP. Its original intention was to establish a global unified payment standard. It has been supported by Microsoft and World Wide Web (W3C) since its inception and it has already accessed and traded among many different financial networks.

Team and Advisors

The following are the executive team of cypherium

Sky Guo- Chief Executive Officer

Dr. Solomon Zhang- Chief Technical Officer

James Chang- Head of Business Development

Jake Orbison- Blockchain Researcher

Hobai Gong- Business Development Manager

Conclusion

By providing a truly decentralized and scalable framework, combined with an accessible and intuitive user interface, Cypherium lays a comprehensive foundation for developers to create groundbreaking apps capable of transforming the future of business, law, and enterprise solutions.

Cypherium has set a standard for the blockchain industry to bring about a new era of mass blockchain adoption. By building a prosperous blockchain ecosystem that yields solutions for enterprises, Cypherium will be at the forefront of cutting edge blockchain use cases in solving real-world problems.