Off-chain payment fields authorize an amount between nodes but the transaction item does not settle until later time. This allows instant transactions processing within the fields and automatically reconcile across all participants.
All transactions details will be encoded within payment fields before sync back to the supernode, which will prevent highly sensitive information (eg. PIThey data) leaked to the public.
The efficiency of decentralized book systems like Bitcoin and Ethereum has always been a challenge. It is usually measured by three major factors: scalability, throughput, and latency. Scalability refers to how the system capacity is increased by adding more physical resources. Throughput measures the volume of transactions for a given period of time, where most current solutions attempt to improve such as NEO, EOS, etc. Latency measures the processing time of any single transaction. In current blockchain based systems, the block generation rate is the main latency bottleneck. Off-chain processes such as state channels are the most recent work that can integrate partial inbound transactions, reducing latency. Unfortunately, the state channel introduces more issues at the same time, such as cross-channel synchronization, which makes the state channel unavailable for full adoption of current blockchain solutions.
In order to solve the efficiency problem, we proposed an end-to-end solution called ALZA, which links the dedicated high-throughput blockchain with self-organizing payment fields. This mechanism allows arbitrary set of users to create payment fields that process extremely low latency transactions within each field. Therefore, users can make transactions almost immediately. Since all transactions are conducted within fields, transaction costs will be reduced by several orders of magnitude. In addition, ALZA distributes main ledger to each client through an innovative replication mechanism. Therefore, the system will be significantly more robust to blockchain system failures. In theory, ALZA can complete millions of transactions in one second, which naturally supports high-frequency trading.
|“||August 2017: Team born within Google blockchain association
December 2017: Idea iteration and consulting
February 2018: Theory consolidated and experiments conducted
April 2018: Research paper finalized and reviewed
January 2018: Acquired talents to join the team
March 2018: Proof of concept
April 2018: Interoperability research
June 2018: Started ALZA system design documentation
July 2018: ALZA payment field protocol finalized
August 2018: ICO
September 2018: ALZA DPOS super node CLI miner
October 2018: Launching testnet
November 2018: ALZA Web/CLI Wallet 1.0
December 2018: Super node election test suite
January 2019: Announcing super node election
ALZA dPOS super node CLI miner 2.0 with Payment Field
February 2019: ALZA iOS, Android and CLI Wallet 1.0
ALZA super node election closed
March 2019: Super node staking reward monitor
April 2019: ALZA Wallet 2.0 with Payment Field
May 2019: ALZA Ecosystem Launch — Blockchain browser and Staking software
June 2019: Deploying sample smart contracts on ALZA blockchain
July 2019: Launching mainnet