Streakk Blockchain is a super blockchain on which you can build your own blockchain. Streakk helps you explore the potential of your cryptocurrencies, powered by the following features
- Fixed fee of $0.0001
- Over 100,000 transactions per second [TPS]
- 2 to 4 seconds transaction confirmation time
- 0.00012 KWH energy consumption per transaction
- High scalability
The Streakk blockchain is a highly advanced blockchain with unique features and capabilities. Customers can create their specialised blockchain on top of the main Streakk chain. This will help developers to create a specific, customised blockchain without affecting the main blockchain.
Building a side chain on top of Streakk's main chain offers increased flexibility and scalability while leveraging the security and trust of the main chain.
Streakk's multi-chain architecture provides a flexible and scalable solution that can handle high transaction volumes and support multiple use cases. The multi-chain architecture uses multiple independent chains to process and store transactions. This approach improves the overall efficiency of the network.
The Streakk main chain stores the most critical and sensitive data. The master chain plays a critical role as the anchor chain that ensures the security and integrity of the entire network. It is the primary blockchain that serves as the backbone of the sidechain network, providing a reliable and trusted platform for the sidechains to operate on. Its robust consensus mechanism and high level of security help prevent any malicious activity or tampering within the sidechain network. The main chain also ensures that any asset or data transfers between the sidechains and the main chain are secure and immutable.
On the other hand, the side chains are the secondary blockchains that operate alongside the main chain, but are designed for a specific purpose. Each side chain has its own independent validators and governance mechanisms. Sidechains can be used to process certain types of transactions, create new applications or provide additional capacity to the network. Sidechains are connected to the main chain through a two-way peg mechanism, which allows data to be securely transferred between the sidechain and the main chain. Sidechains can operate with different rules and consensus mechanisms than the main chain, providing greater network flexibility and customisation. The main and sidechains work together to create a more efficient and scalable blockchain network, providing a seamless and flexible experience.
Sidechains are a solution to two fundamental problems with blockchains:
- Scalability: It is difficult to scale a blockchain that serves multiple purposes, as new implementations and upgrades would likely favour some use cases while clashing with others. On the other hand, having multiple blockchains allows them to add functionality without clashing with the others.
- Flexibility: It is reasonable to assume that a blockchain will either be incredibly good at solving one problem, or not so good at trying to solve numerous problems. A blockchain that specialises in solving a specific problem has more leverage over itself and its users. The highly specialised, purpose-built blockchains, known as sidechains, can benefit from each other by working together.
- Shared security: One of the benefits for chains thinking about becoming sidechains and joining Streakk is shared security.This basically means that the economic security provided by the mainchain's validators is shared by all the sidechains connected to the mainchain.
Validators play an important role in both the main and side chains.
Validators (main chain): On the main chain, validators are responsible for verifying blocks and adding them to the blockchain. They use Streakk's proprietary consensus mechanism to validate blocks and ensure the security and integrity of the blockchain network.
Validators (Side Chain): On the sidechain, validators perform a similar function, but with a focus on processing transactions within the sidechain network. Validators on the side chain use a consensus mechanism specific to the side chain to validate transactions. They are responsible for verifying transactions, adding them to the sidechain and completing the blocks that allow blocks to be validated on the main chain.
Side chain validators receive rewards in the native side chain asset for validating the transactions and completing the blocks.
Main chain validators, on the other hand, validate the blocks created on the side chain and earn the rewards in the STKK.
In both cases, validators play a critical role in maintaining the security and integrity of the blockchain network. They are responsible for ensuring that transactions are processed accurately and efficiently, and for protecting the network from malicious activity or tampering.
Streakk's proprietary consensus algorithm
Streakk uses a proprietary consensus algorithm that is a combination of Proof of Stake [PoS] and Simple Time Protocols [STP]. The combination of PoS and STP creates a hybrid consensus mechanism that combines the advantages of both protocols.
Proof of Stake [PoS] is a consensus mechanism that uses a form of virtual mining where validators are selected to create and validate new blocks based on the amount of stake they hold in the network. This means that validators with more stakes have a greater chance of being selected to create new blocks and earn block rewards.
The Simple Time Protocol incorporates a clock into the blockchain. The clock verifies the time between two events. It provides validators on the network with knowledge of the
timestamp of the events. This feature reduces the redundancy of checking back and forth with all the validators when recording a transaction. STP helps to encode a trustworthy passage of time into the ledger. This allows nodes to create the next block without waiting for the entire network to synchronise. This reduces the consensus overhead.
When PoS and STP are combined, the STP component can be used to create a reliable and tamper-proof time-based record of transactions, while PoS can be used to validate new transactions and create new blocks based on the stake held by the validators. This hybrid consensus mechanism provides faster transaction times, lower power consumption and improved security.
This combination creates a more efficient and secure blockchain network that supports a variety of decentralised applications and use cases.
Streakk follows the DAO (Decentralised Autonomous Organisation) governance mechanism. It enables decentralised decision-making and community-driven development.
DAOs are implemented as smart contracts executed on the blockchain. The smart contract code defines the rules and governance structure of the DAO, including the decision-making process, voting procedures and management of the DAO's assets.