The team behind Constellation Labs explains how their third generation blockchain technology works and what it brings for the future of distributed systems.
Our guests in this episode are Constellation Labs’ Co-Founder and CEO Brendan Playford, Head of Marketing Zac Russel, and COO Benjamin Jorgensen. They introduce us to Constellation, a third generation blockchain technology, called a DAG (which stands for Directed Acyclic Graph). DAGs can scale horizontally, so any device connected to the network increases its scalability, and the capacity of the network is proportional to the number of users.Constellation uses off-chain applications that execute smart contract logic. In this way it enables fast transactions that can be performed from any mobile device. Another innovation is using “Proof of Meme,” which represents benevolent behavior across the Constellation network that is rewarded and is meant to improve the nodes’ reputation. As the Constellation team puts it, Proof of Meme is a meritocracy compared to Proof of Stake which is a plutocracy.With all these technological advances, Constellation aims to overcome blockchain’s scaling problems and bring forth a more robust technology. They have partnered with several venture firms, investment groups and crypto hedge funds such as Shasta Ventures, Connect Capital, Kx and Chainrock.The whitelist registration opens on April 20, 2018. Constellation is planning a token generation event and the launch of a community portal in May 2018, whereas Constellation testnet has been scheduled for release in June 2018. The launch of the Mainnet is planned for the beginning of 2019.