What is Waterfall (WATER)?
Waterfall is a high-performance, decentralized platform designed to address the scalability and transaction throughput challenges of blockchain technology. Based on a Directed Acyclic Graph (DAG) structure and using Proof-of-Stake (PoS) consensus, Waterfall aims to offer a scalable and efficient solution for decentralized applications (dApps) and financial services.
Key Features of Waterfall
- Scalable Distributed Ledger
The core of Waterfall’s design is its scalable architecture. By utilizing DAGs, Waterfall enables multiple blocks to be processed in parallel. This means the system can handle a higher volume of transactions compared to traditional blockchain systems, making it a more scalable solution.
- Coordinating and Sharding Networks
Waterfall consists of two main networks: the Coordinating network and the Sharding network. The Coordinating network ensures that the blocks are finalized, and validators are assigned roles within the network. Meanwhile, the Sharding network focuses on handling transactions and creating blocks, which are then referenced in the Coordinating network for finalization. This separation helps increase overall system performance and scalability.
- Proof-of-Stake (PoS) Consensus
Waterfall uses a PoS model, where validators participate in block production and transaction validation. The system operates in epochs and slots, where validators are selected to produce blocks within specific timeframes. This method not only boosts security but also improves transaction throughput.
- Transaction Finality and Cross-Chain Interoperability
One of the standout features of Waterfall is its finality for transactions. Once a block is created, it is confirmed and finalized in the network, providing strong assurances to users. Additionally, Waterfall is designed with cross-chain interoperability in mind, meaning assets can move across different blockchain networks, facilitating smoother interactions between them.
Addressing Industry Problems
Waterfall was developed to solve several key issues facing current blockchain systems:
- Low Performance: Traditional blockchains face challenges when scaling, especially in terms of transaction speed and network congestion. Waterfall’s use of DAG structures and parallel block production solves this problem by allowing for higher transaction throughput.
- High Transaction Fees: In many blockchain systems, high fees can deter users from transacting. Waterfall’s scalable structure reduces the need for expensive transactions, helping keep fees low as the system grows.
- Scalability vs. Centralization: Many blockchain projects sacrifice decentralization to achieve scalability. Waterfall aims to overcome this trade-off by using a decentralized approach that maintains high scalability without compromising on security and decentralization.
Conclusion
Waterfall offers a promising solution to some of the most pressing challenges in the blockchain space. With its innovative use of DAG, PoS, and sharded networks, it aims to provide a scalable, efficient, and decentralized platform for the next generation of decentralized applications and financial services.
What is unique about Waterfall (WATER)?
Waterfall is unique for its high scalability and decentralized design, using a Directed Acyclic Graph (DAG) structure and Proof-of-Stake (PoS) consensus to achieve fast transaction throughput without sacrificing decentralization.
Who are the founders of Waterfall (WATER)?
The founders of Waterfall are Sergii Grybniak, Igor Mazurok, Dmytro Dmytryshyn, Oleksandr Nashyvan, Yevhen Leonchyk, and Ruslan Shanin, all of whom are researchers and professors from Odesa Polytechnic State University and Odesa I.I. Mechnikov National University in Ukraine.
Where can I buy Waterfall (WATER)?
Gate.io
Join
OGAudit
