What is NYZO?
NYZO - the blockchain of time and diversity
NYZO is a complete novel and innovative blockchain, developed from scratch to deliver a robust, fast and especially energy efficient operational network. We all know or atleast have heard about Bitcoins enormous energy consumption generated through Proof-of-Work (PoW) – NYZO doesnt have that. With Proof-of-Diversity (PoD) a fully new approach is used to reach consensus – secured by time and diversification.
So, how does it work?
The NYZO network (Mesh) is build from “Verifiers” verifying new blocks every 7 seconds. The Mesh is seperated in two groups – the so called “In Cycle” and the “Queue”. In Cycle-Verfiers are building the actual blockchain network and generating earnings through verifying blocks, while Verifiers in the Queue are waiting for joining the Cycle.
Every two full cycles, a new Verifier is chosen to join the Cycle by receiving votes from In Cycle-Verifiers. This process is fully automatic and random and every Verfifier has the same possibility to join the Cycle. That guarantees the greatest possible diversification.
Ok, but what role is time actually playing?
With every new Verifier joining the Cycle, the Cycle Lenght is increasing and therefore the time between the last join and the next join is increasing too. That will make it harder over time to get new Verifiers into the Cycle – and harder for an entity to try a 51% Attack. The only way to doing it is by having the majority of In Cycle Verifier in your control. With our actual Cycle Length it would need multiple years and big ressources to succesfully attack NYZO.
Here is a video from one of our community members comparing PoW and PoD – Nyzo: Proof-of-diversity VS Proof-of-work 51% robustness comparison
NYZO is extremly fast and scalable. With a blocktime of 7 seconds and thousands of transactions in a single block NYZO is ready for the future and mainstream adoption.
To make sure that the Mesh stays in “shape”, every In Cycle Verifier has a performance score based on response times and time needed for producing a block. If the score crosses a certain value, the verifier is kicked out of the cycle.
With over 70 Updates just in 2019 a main priority for the NYZO Developement Team is the stability and improvement of the network. Several updates were minimizing the ressource usage of the verifiers, making them 50% more efficient compared to the initial release in 2018. Also the “waste” of computing power by the always growing number of queued verifiers waiting to join the mesh got eleminated by introduciong the “loose tracking mechanism“, putting them in an idle mode while waiting for joining the mesh.
Every voice matters –
as an In Cycle Verifier you have a voting right which can be used to vote for future developments or approving Cycle Fund Transactions. Only if 75% of the Cycle agrees with a Cycle TX a decision is final.
The NYZO Development Team announces their upcoming ideas for updates as so called NTTP (NYZO Team Technology Proposals).
You don’t agree with their upcoming proposal? Just don’t vote or make a statement by voting with “no”.
NYZO is built to be highly efficient. That’s why a NYZO Verifier can be run on a low-tier VPS (Virtual Private Server). A small VPS with just 1 CPU Core and 512MB RAM is more than enough for the Queue. But also In Cycle Verifiers doesn’t need much power. Our tests have shown that 1-2 CPU Core(s) and 1GB RAM are sufficent.