Project Research丨Multi-block Parallel Processing Public Chain Transformers Research Report

Table of contents

1. Project Introduction

2. Project vision

3. Features and advantages

(1) Speed

(2) Security

(3) Scalability

(4) Highly Customizable

(5) Cannot be tampered with

(6) All data is open and transparent

(7) Support smart contracts

4. Development history

5. Team Background

6. Financing Information

7. Project structure

(1) Network

(2) Consensus algorithm

** (3) DAY**

(4) Synchronization

(5) Transactions

(6) Node operation requirements

8. Development Achievements

(1) Project Progress

(2) Basic data

9. Economic Model

(1) Token economy (2) Token rights

(3) Incentive Mechanism

10. Industry Analysis

11. Risks and opportunities

12. Cooperation plan

1. Project Introduction

TFSC (Transformers Chain, Transformers Chain) is a completely decentralized public chain, and also a high-performance distributed system with continuous expansion of transaction capabilities, anyone can participate.

Based on the special raindrop consensus protocol (RDCP), the ability of multiple block producers to process transactions on the chain in parallel is realized. The concurrent number of block producers can be realized through its incentive layer protocol network as the network scale continues to expand. Decentralized free development state.

2. Project Vision

Decentralization, autonomy, equality, and freedom are the development concepts of TFSC. TFSC hopes to attract countless Web3.0 entrepreneurs to change the world with its powerful gravity like the sun.

3. Features and advantages

In order to meet the characteristics of high-performance public chains, TFSC focuses on the following core concepts:

(1) Speed

TFSC is written in C/C++, which ensures its cross-platform and high-efficiency processing capabilities. In TFSC, the transaction confirmation and on-chain speed are very fast, and the network consensus and confirmation can be reached within 1 second at the fastest.

(2) Security

In the consensus layer, TFSC has extensively adopted the VRF protocol, Byzantine fault tolerance mechanism, elliptic curve signature algorithm, and self-developed raindrop consensus protocol. Under the premise of ensuring safety, at the same time, the weight of each node is guaranteed to be equal. Even if some nodes have problems, it will not cause much impact.

(3) Scalability

TFSC uses the double VRF random number algorithm to select multiple candidates for block production at the same time stamp, and continuously expands the number of candidates as the network scale grows. Scalability ensures that the TFSC network can handle increased transaction volumes as user demand grows, while also providing higher bandwidth capabilities. In order to meet these needs of the network, TFSC will enable multiple side chain functions.

(4) Highly customized

The business chain can run independently according to different transaction types or business entities. The TFSC main network is powerful, and the scope of application can be expanded infinitely.

(5) Cannot be tampered with

TFSC is a highly decentralized distributed ledger, and it is almost impossible to tamper with data.

(6) All data is open and transparent

Any node can view other nodes' account balances and transaction activity. The verification nodes are distributed all over the world, and everyone can participate in bookkeeping and maintain all data on the blockchain.

(7) Support smart contracts

TFSC fully supports EVM, which means that smart contracts deployed on Ethereum can be executed on TFSC without any modification or minor adjustments. TFSC will also support WASM virtual machine contracts in the near future.

4. Development History

2022.06.25 TFSC Open Beta Test Network

2022.07.06 Release $TFSC economic model

2022.09.16 Launch data visualization website explorer.tfsc.io

2023.04.09 TFSC open-sourced most of its codebase on GitHub

2023.05.02 TFSC node deployment is open to everyone

2023.05.18 TFSC launches fundraising seed round, until June 10

5. Team composition

• Aleksandr lvanov: technical sponsor
• Hans Müller: architect
• Eli Cohen: Core Developer
• Emily Li: core developer
• Cole Anderson: Core Developer
• James Smith: Core Developer
• Sergei Petrov: Core Developer

The project is currently operated anonymously, but judging from the announced founding team introduction and community operations, the core members should come from Russia, Germany, China and other countries.

6. Financing information

TFSC does not have any financing information yet

7. Project Architecture

(1) Network

TFSC adopts a fully connected decentralized distributed P2P network structure. TFSC is connected to the blockchain network through P2P. In the blockchain network, all nodes are equal, both clients and servers.

Each verification node is marked with a unique ID through the node list to ensure the authenticity of the verification node in the network. By verifying the node list data, the qualified verification nodes will be brought together into the verification pool. A discrete random function is used to randomly select block verification nodes to ensure smooth and fair node selection, thereby avoiding unfairness caused by block verification.

(2) Consensus algorithm

TFSC uses the raindrop consensus protocol as a consensus mechanism at the consensus layer. The current mainstream consensus mechanism cannot balance efficiency and decentralization. Compared with the traditional POW, the raindrop consensus protocol is more efficient and will not generate computing power competition. Each node in the network has its own unique node ID, and each node in the main network is selected and verified by discrete random numbers.

You can understand that every transaction in the network can be regarded as a raindrop, and the raindrop falling on the surface of calm water can be similar to every transaction entering the network. The ripples caused by raindrops are like completing the verification of transactions in the network. The whole process of marketing on the chain is the process of reaching a network consensus at the same time for each transaction or even thousands of transactions under certain conditions.

（3）DAY

DAG (Directed Acyclic Graph) is the underlying ledger structure of TFSC. "Directed" means directed, "Acyclic" means no loop, no return, DAG means a directed graph, but starting from any vertex cannot return to the original point.

It is obvious that the Merkle tree belongs to a directed tree (Directed Tree) structure, each vertex in the tree can only point to the previous vertex, and the entire data has a clear flow direction. The DAG structure allows each vertex to point to multiple previous vertices, and the entire data flow has a clear direction. Another data structure is a directed graph (Directed Diagram). The difference between it and DAG is that a directed graph allows data to flow back, and the data flow direction in the entire structure is not very clear. The difference between the three is shown in the figure.

In the context of blockchain, it is difficult to significantly improve scalability while ensuring decentralization and security, making it difficult to commercialize. DAG is theoretically decentralized. If the network is strong enough, security can be guaranteed, and more importantly, scalability can be greatly improved. A distributed database using DAG technology can greatly increase transaction throughput and minimize transaction costs.

(4) Synchronization

Fast and reliable synchronization is the basis for the ultra-high throughput of TFSC.

Synchronization refers to the mechanism used to keep the contents of two or more databases, files, modules, or threads consistent. Consensus and synchronization are essential links in the blockchain. The synchronization process enables all nodes in the entire blockchain network to achieve data consistency, ensuring the verifiability of data in the entire network. At the same time, without affecting the consensus, prepare the data required for the consensus in advance, so that the data of the entire network can reach a consensus and increase the transaction success rate.

Producing blocks on TFSC is a passive behavior, and blocks will only be produced when transactions occur, rather than through a predetermined mechanism for producing blocks. Any user can synchronize all data blocks on the mainnet. When running, it periodically broadcasts its highest block height to other nodes. When a node receives the block height broadcast by another node, it compares it with its own block height. If its block height falls behind, the block download process is initiated. The synchronization of TFSC ensures the consistency of data across the network, provides a security basis for consensus, and ensures the security and robustness of the TFSC network.

(5) Transactions

In the blockchain, in order to avoid user fluctuations and ensure stability, TFSC needs to pledge a certain amount of coins to join the network. The pledged currency can be released after a certain period of time, and the pledged amount is 1000 TFSC, which will be transferred to the special account.

Staked coins can be unstaked after 30 days. As we all know, there is a reward mechanism in the blockchain, which is different from the mining algorithm. TFSC does not use proof of work, but creatively uses the application mechanism algorithm. Users can participate in sharing dividends with a minimum investment of 35 TFSCs. The more you invest, the more you earn.

(6) Node operation requirements

① Hardware requirements

CPU: Intel Pentium CPU series and above are recommended, with 8 cores and above.

Memory: 16G and above recommended

Hard disk: 500G recommended, with NVME protocol

Bandwidth: Uplink and Downlink 100M

② Software requirements

Operating system: running on CentOS 7, ubuntu-22.04-desktop-amd64 system.

8. Development Achievements

(1) Project progress

One of the highlights of TFSC is its Raindrop Consensus Protocol (RDCP). Compared with the traditional POW, the Raindrop Consensus Protocol is more efficient and will not generate computing power competition. Each node in the network has its own unique node ID, and each node in the main network is selected and verified by discrete random numbers.

In a year, the TFSC client has been updated dozens of times, and the current TFSC network has proven that it can efficiently process a large number of transactions in a completely decentralized state.

At present, TFSC has released the new version v0.28.0 of the latest client program.

In addition, TFSC also launched ecological wallet projects TFSC Wallet and TickWallet.

(2) Basic data

Twitter: 14,000

Discord: 7921, inactive

Telegram: 8517, inactive

Validators/Network Nodes: 118/139

Pledge rate: 2.26%

Current pledge annual interest rate: 22%

9. Economic Model

(1) Token Economy

The above picture shows the token economy officially released in the early days. It can be seen from the picture that the total amount of $TFSC designed in the early stage is 200 million pieces, of which: 3% for the team, 6% for pre-destruction, 10% for global development, and 5% for the ecological development fund %, community airdrop 2%, strategic cooperation 2%, node incentive 35%, consultant 1%, circulation 35%, event airdrop 1%

However, in the latest announcement of the token economy, the data has been adjusted. The initial total amount of TFSC tokens is 70 million, as follows:

(2) Token rights

Transformers is a decentralized high-performance public chain system. All delegators and verifiers in the network have no interest by default and cannot participate in any work of the Transformers network. They need to lock a certain amount of TFSC to obtain Transformers Related interests in the network.

The pledge of Transformers is to participate in the network by locking a certain number of TFSC. The pledge is to increase the cost of operating the Transformers network for a small number of people, which can effectively prevent malicious nodes from using the Transformers network, greatly increasing the cost of Sybil attacks, and is conducive to evildoers to give up Motivation to earn illicit income on the web.

The minimum pledge amount of the delegator of the Transformers network is 35 TFSC, and the maximum stake amount accepted by the verifier is 65000 TFSC. At the same time, verifiers and delegators will share the incentives of the Transformers network. It should be noted that when the verifier selected by the delegator is in an abnormal state in the network, it will cause the loss of the delegator's income. Validators also suffer severe losses, they are risk-sharing and reward-sharing.

The number of pledges of validators is 1000 TFSC, and at least 10000 TFSC must be entrusted to the validator. After the above conditions are met, the verifier can obtain Transformer's network access permission and obtain all network rights and interests. It should be noted that the maximum delegated pledge accepted by a single validator is 65,000 TFSC. When the pledged amount reaches the maximum value, the validator will not be able to delegate the pledge.

The validator's pledge freeze period in the network is 30 days, and this freeze period does not affect the pledge freeze period of customers. After the above pledge conditions are met, the verifier will be confirmed as active, and the inactive verifier will not be able to obtain any benefits from the network.

(3) Incentive mechanism

In order to promote the long-term sustainability of its system and achieve a healthy self-governing economic cycle, Transformers has established a long-term incentive mechanism for its network participants to ensure its long-term security and decentralized characteristics.

The core participants of Transformer are clients and validators, which provide a secure and decentralized network foundation for various interactions on Transformer. Rewards are issued based on the initial circulation of the genesis block, and inflation will decrease or inversely expand according to the elasticity of time and the total equity of the verification cluster.

Transformers has formulated a destruction protocol. In the process of maintaining the balanced development of the ecological economy, the system automatically destroys the share of the founding block, and at the same time destroys 100% of the verification node Gas, so as to achieve the long-term economic stability of Transformers.

10. Industry Analysis

The public chain is currently a topic of interest to the web3 industry. A good new public chain project is basically valued at $1 billion. Any public chain project has huge potential and deserves attention.

TFSC's raindrop consensus protocol is different from POS and POW. It has a strong narrative and emphasizes the concepts of decentralization and equality for everyone. The project has the opportunity to arouse certain repercussions in the market.

11. Risks and opportunities

TFSC’s Raindrop Consensus Protocol is unique and novel, and it is also a new public chain project. It is still in the testnet stage, and the reward mechanism has also been clarified. There are community airdrops and event airdrops, and early participation is possible. In addition, it is launching a partner recruitment plan (see below), Eligible teams or individuals can join.

But precisely because the project is relatively new, there is little information, and the team is anonymous and cannot be trusted 100%. It is still unknown how much value it can create and how many high-quality project deployments it can attract. Whether the public chain project is still popular depends on the market environment, and there are risks in investment.

To sum up, a professional team that is looking for suitable projects and co-construction partners is now in the early stage and can continue to pay attention to its development this year.

12. Cooperation plan

On May 5, 2023, the team tweeted to recruit global partners, including:

(1) Technical partners: looking for individuals or DAO organizations with rich experience in blockchain technology, distributed systems, etc., to accelerate the next step of TFSC's technological development.

(2) Community building partners: looking for individuals and DAOs with extensive experience in community building to build an open, inclusive, and active TFSC community.

(3) Media partners: Looking forward to cooperating with experienced media to jointly publicize TFSC's core technology and development process and expand its popularity and influence.

(4) Investment partners: Some partners with rich investment experience in the field of blockchain and digital assets will be selected to create high-quality web3 entrepreneurial projects related to TFSC and TFSC ecology.

(5) Ecological partners: Look for individuals or DAO organizations in other industries to jointly create a more open, fair, and efficient ecosystem to meet the needs of different scenarios.

At this stage, co-builders of TFSC can start from the following three aspects:

1. In-depth understanding of TFSC's vision, technology and value.

2. Participate in the node deployment of TFSC testing phase: node users are very important to TFSC. Participating in the deployment of nodes can help improve understanding and familiarity with TFSC, and provide experience for subsequent development, deployment and promotion. Therefore, institutions that have participated in the establishment of nodes during the TFSC test phase will receive higher points.

3. Have global community, media or KOL resources in terms of ecological promotion: Community, media and KOL resources are very important for the promotion and development of blockchain projects. If an individual or organization accumulates these resources in ecological expansion, they can better publicize and publicize TFSC, thereby obtaining higher bonus points.

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