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Phase Breakdown
Aurum will initially reside on a singular virtual machine server that will serve the community's requests.
Only the SIG Blockchain Aurum virtual machine will be trusted to handle these requests.
A consortium will form of multiple peer servers working together to serve the community.
Admittance and ongoing participation in the consortium will be controlled with permissions. The consensus mechanism is accounted for in this policy, however there is also a plan to standardize the frequency of block production. Blocks generated sooner than a universal "cooldown" will be rejected by all parties. This will mean that the rate of transaction confirmation will grow with the network size. Early participants in the network will receive a larger share of the inflationary Aurum to be gained from producing blocks.
There will remain a network of peer servers that maintain the blockchain.
At this point the hope is that there are sufficient participants in the network to maintain the ledger efficiently and safely. In significantly lower the barrier for entry, we will need to address a few goals:
- Ensure that the adoption of a public consensus mechanism does not effect the rate of approved block production
- The consensus mechanism will be energy efficient
- The network distributes authority among its participants equally; that is, there is no centralization or hierarchy
Consensus mechanisms appear to hamstring blockchain performance and scale when the barrier for entry is too low and the network swells to an excessive size. There will always be some barrier for entry for participation in the network; the idea is to keep it low enough to ensure the network workload is distributed in a satisfactory way while also making sure that it is high enough so as to keep it at a size that can achieve consensus rapidly.
The budget for Aurum development is limited so making sure that it is energy efficient is a big concern. A proof of work style blockchain, though thorough and appealing, will be difficult to justify. The provision of services will be contingent upon leveraging efficient code and fair policy.
The policy must ensure that there are no degrees of control and that every participant is assumed to have equal responsibility.