Seele is a big step forward in the development of blockсhain technology. Following the Internet of Information, the Internet of Payments and the Internet of Things, there is a new concept - the Internet of Value.
The developers based their project on the concept that all the data stored in the blockchain is a value.
The world's first blockchain is an excellent solution, but for a very narrow range of tasks. For other tasks, other blockchains are used. They are created so that between them there is nothing in common, they are like islands in the ocean.
They use different types of data, addresses, protocols, encryption algorithms, codes. Now enthusiasts are trying to build bridges between them, but the process is quite tricky and very slow. This inhibits the technology development.
The Seele team offers a whole bunch of ideas that should fundamentally change the situation. The model was based on the work scheme of the human brain with its asynchronous processing and simultaneous sorting of information. This approach gives high efficiency and fault tolerance, and also allows linear scaling of the network. The more nodes involved in achieving consensus in the Seele network, the faster it is and the cheaper is the processing of each transaction.
One of the main parts of the project is the neural consensus algorithm. According to developers, it increases the fault tolerance of the network by 33% -40%, without loss of performance. It is based on the transfer of discrete voting into the convergence function of asynchronous requests, with a given differential interval and sampling rate. In the long term, this approach will transfer network nodes into continuous voting.
Another important innovation is the structure of the blockchain itself, built in accordance with the architecture of the heterogeneous forest. In simple words - it will be a hierarchical blockchain, consisting of a large number of subordinate chains. Each of these chains of lower levels can be created for specific tasks and will be optimized for them. Such an architecture provides a high speed of information processing and the possibility of parallel computations. These "trees" in the blockchain are subject to a single chain, called "Meta-blockchain". Blockchains are able to perform absolutely independent tasks, but they can also interact with each other.
New parameters of network protocols are created. They adapt to the new challenges that Internet of Value pushes forward. The IP and HTTP protocols are turned into Value IP, Value HTTP. And TCP and UDP are replaced by the fast protocol Quick Value Internet Connection.
All this will allow to process millions of transactions per second. At the same time, minimal energy consumption will be needed, since operations to reach consensus are simple arithmetic operations with integers. They use the minimum computing power.
The cost of processing transactions will be very low, since the network structure does not require the participation of a large number of computers in the achievement of consensus.
The basis for the economy of the heterogeneous forest blockchain network is Seele token. It is used to pay a fee for processing transactions. These tokens are collected by the fund, from which the nodes receive rewards for recording blocks in the chain.
Gas mechanism is used in analogy with the Ethereum network to collect payment. The cost of gas is dynamically adjusted with the current situation in the system.
According to ICODrops, the project began open sale on April 3, on the same day fundraising was closed and a $12,000,000 hardcap was successfully reached. At the moment, Seele is traded on several exchanges: Hadax, Hotbit, Idex, CoinBene.
Summary
Seele is a great project. Thanks to the new consensus algorithm, a new network structure using the heterogeneous forest architecture and the ability of each of the subblockchains to handle their own tasks, a truly distributed cloud supercomputer using blockchain technology is created.
It has already been called Blockchain 4.0. And judging by the speed of fund-raising and market activity, the community has great hopes on it.