Briefing
The core research problem addressed is the inability of existing blockchain architectures to support the demands of complex Web3 applications, manifested in inadequate transaction throughput, high latency, and inefficient storage leading to state bloat. Pharos proposes a foundational breakthrough through its deeply parallel architecture, optimizing performance across the entire blockchain stack by embracing parallelism at the network, consensus, execution, and storage layers. This new theory’s most important implication is unlocking unprecedented scalability and efficiency, enabling internet-grade execution for real-world financial applications and driving mass adoption of blockchain technology.
Context
Prior to this research, established blockchain architectures faced significant limitations in supporting the demands of increasingly complex Web3 applications. The prevailing theoretical challenge encompassed inadequate transaction throughput, which caused bottlenecks for high-frequency trading applications, alongside high latency that hindered time-sensitive decentralized finance operations. Furthermore, state bloat and inefficient storage solutions impeded the development of internet-scale applications, collectively hindering the growth and adoption of Web3.
Analysis
The paper’s core mechanism centers on a deeply parallel architecture that optimizes performance across the entire blockchain stack. This new model employs a novel consensus protocol enabling simultaneous block proposals from all validator nodes, which eliminates the single-proposer bottleneck inherent in many traditional designs. The execution layer features a dual virtual machine architecture supporting both Ethereum Virtual Machine and WebAssembly, facilitating parallel transaction execution through a sophisticated scheduler that leverages static analysis and speculative execution to maximize concurrency.
Furthermore, Pharos implements pipelined block processing, dividing the block lifecycle into fine-grained stages for parallel processing, and introduces Pharos Store, a blockchain-native verifiable storage solution that integrates authenticated data structures for parallel Merkleization and accelerated state access. This approach fundamentally differs from previous methods by achieving parallelism at every layer, from network to storage, thereby addressing throughput and latency challenges comprehensively.
Parameters
- Core Concept ∞ Deeply Parallel Architecture
- New System/Protocol ∞ Pharos Network
- Consensus Mechanism ∞ Byzantine Fault Tolerant Proof-of-Stake
- Execution Environment ∞ Dual EVM/WASM VM
- Target Performance ∞ Degree of Parallelism 4 (DP4) and beyond
Outlook
This research establishes a foundational layer poised to unlock the full potential of Web3, with significant real-world applications expected within 3-5 years. Future steps involve optimizing Degree of Parallelism beyond DP4 and leveraging Special Processing Networks (SPNs) for tailored use cases such as privacy-preserving computation or hardware acceleration. This theory enables scalable asset issuance, on-chain liquidity, and modular application development across blockchains, ultimately bridging traditional finance liquidity with Web3. The integration of restaking for SPN security further opens new avenues for flexible resource allocation and enhanced network utility.
Verdict
This deeply parallel architecture and novel consensus protocol represent a pivotal advancement, fundamentally reshaping blockchain’s capacity for internet-scale, high-frequency financial applications.
Signal Acquired from ∞ pharosnetwork.xyz