Perlin is a leaderless and scalable PoS smart contract platform with a mission to power the future of decentralized technologies and accelerate the transformation of international trade to a purely digital, autonomous industry.
- Perlin is a highly scalable, PoS smart contract platform that achieves throughput of 31,000+ TPS and consistently has 0 to 4 second time to finality, all of which is made possible by Wavelet, a DAG-based probabilistic consensus mechanism.
- Perlin has a leaderless PoS protocol which does not use committees or delegation, thereby ensuring the security properties of bitcoin but speeds comparable to private chains.
- Perlin is pursuing several adoption strategies but is currently focused on the $US 11 Trillion international trade market with its distribution partners such as the International Chamber of Commerce, Enterprise Singapore, Dubai Chamber of Commerce and others.
KEY FEATURES & HIGHLIGHTS
- Leaderless Proof of Stake: A new proof of stake protocol that doesn’t require committees or delegation.
- Minimal Hardware Nodes: PERL holders will have the option of running a validator node with minimal hardware requirements (512MB RAM and 2 CPUs) and join in earning a share of transaction fees.
- Commercial / Market Traction: Perlin is initially targeting applications in the International Trade space with endorsements from the International Chamber of Commerce, Enterprise Singapore and several other organizations and companies.
- Efficient and Scalable: Wavelet is benchmarked at 31k+ transactions per second and a time to finality between 0-4 seconds.
- Engaged, Global Developer Community: Strong developer adoption through AssemblyScript/Rust smart contract SDKs and two previously released libraries, Life and Noise, which have over 2,300 stars on Github and 150 forks collectively.
WHAT IS PERLIN?
Perlin offers the first true leaderless proof of stake which allows ledgers to be run securely and efficiently.
Perlin introduces WebAssembly smart contracts with developer friendly SDKs where even existing software can be modified to become decentralised with a few lines of code.
Perlin has an equitable platform that not only promotes genuine decentralisation through a leaderless implementation like Bitcoin but removes the minimal hardware requires instilled by it, allowing nodes to run on mobile phones.
Token Supply Distribution:
- Seed Sale tokens comprise 20% of total token supply.
- Strategic Sale tokens comprise 19.49% of total token supply.
- Private sale tokens comprise 8.36% of total token supply.
- Public sale tokens comprise of 8.38% total token supply.
- Team tokens comprise 15% of total token supply.
- Advisors token comprise 9.65% of total token supply.
- Treasury tokens comprise 19.12% of total token supply.
Seed Sale Overview
- Conducted in January 2018 and raised a total of ~$12.4MM at ~$0.06 per token, selling 20.0% of total token supply.
Strategic Sale Overview
- Conducted in May 2018 and raised a total of ~$24.2MM at ~$0.12 per token, selling 19.49% of total token supply.
Private Sale Overview
- Conducted in July 2018 and raised a total of ~$17.3MM at ~$0.20 per token, selling 8.36% of total token supply.
Public Sale Overview
- Sale will be conducted in August 2019 for a total raise of $6.7MM USD worth of BNB at $0.07743 per token for 8.38% of total token supply. PERL/BNB exchange rate will be determined prior to day of sale.
BLOCKCHAIN & NETWORK DATA
Wavelet is a leaderless proof of stake protocol that powers WebAssembly smart contracts and has the following features:
- Scalable: Under testing environment, the Wavelet ledger has been able to achieve over 30k transactions per second.
- Practical: The Wavelet ledger aims to achieve 2-4 second finality with millions of nodes
- Succinct: Running a full Wavelet node only requires 512MB of RAM
The Wavelet prototcol is structured with partially synchronous communication, or namely the network runs Gossiping and Querying at the same time.
- Gossiping: The process where all nodes communicate with each other and update the information of transactions on their graphs until they have the same graphs. This only happens when there aren’t any new transactions made for a certain period. However, the transactions aren’t finalized through this process, the next step in finalizing transactions is querying.
- Querying: The querying process segments a nodes graph from the bottom-up into non-overlapping graph depth intervals called consensus rounds. The start and end point of a consensus round is marked by the depths of two individual critical transactions, which are chosen by nodes within the network through the invocation of the binary consensus protocol Snowball. The network initializes on consensus round 0, with the rounds start marked by a genesis transaction at depth 0. Transactions that exist within the overlap of any single known consensus round are considered to be finalized, and are either applied to the ledgers state, or otherwise rejected in a consistent order.
For each and every transaction created, there exists a chance that a transaction may randomly be marked to be critical based on a dynamically adjusted system parameter known as the difficulty parameter.
This chance is modelled as a verifiable random function akin to the Bitcoin’s difficulty puzzle, based on the number of prefixed zero bits of the BLAKE2b checksum over the contents of a transactions sender wallet address and the transactions parent transaction IDs concatenated together.
If the number of prefixed zero bits exceeds the difficulty parameter, the transaction is considered to be critical. Hence, any adjustment to the difficulty parameter would change the frequency of how often a critical transaction comes into fruition throughout the gossiping process.
Snowball, albeit being a consensus protocol with minimal communication complexity, takes time to execute in comparison to any gossiping or message flooding protocol. The querying process is slower than the gossiping process, to the extent where it is possible that new transactions may sprout from the gossiping process faster than the speed in which the querying process may finalize batches of transactions zoned in consensus rounds.
A remedy is to have the interval span of consensus rounds be dynamic, such that the querying process would finalize larger amounts of transactions per second when needed. The start and end of the interval is roughly determined by the frequency in which critical transactions come into fruition.
The Load Factor
In order for the network to know how frequent a critical transaction would come into fruition, Perlin developed a method known as the Load Factor which is a consistent heuristic computable by any node across the network.
The load factor approximates how many transactions are being gossiped roughly around the network. The heuristic is derived by computing ratios over the width and height of prior consensus rounds.
By incorporating the load factor into the frequency in which critical transactions come into fruition throughout the network, the querying process is able to process larger or smaller batches of transactions in a single Snowball invocation with respect to the transactional load yielded from the gossiping process.
Wavelet utilizes 2 different consensus protocols, namely S/Kademlia for gossiping and Snowball for Querying.
- S/Kademlia: S/Kademlia is the overlay network protocol for Wavelet. With its formation of De-Bruijn network topology, it allows messages to be sent easily, even if troublemakers try to drop, redirect, or delay messages. A message flooding protocol on top of S/Kademlia’s reliable message broadcasting is utilized as Wavelet’s gossiping protocol.
- Snowball: Snowball is a protocol inspired by the snowball sampling technique, where a node exchanges information, namely the critical transaction, with neighbouring nodes multiple times in rounds. This process keeps repeating until the critical transaction being received is consistent for a large number of times specified beforehand. This protects a partially synchronous network from adversaries that attempt to jeopardize the consistency and fluidity of the network.
- A traceability/provenance decentralised application allowing enterprises to trace their products to source efficiently, immutably and transparently.
- Asia Pacific Rayon (“APR”) is currently using this product on the Ethereum testnet.
- Perlin has partnerships with several other companies who will be launching on the platform in the next few months including MFused, one of the largest marijuana producers in North America and Asiservy, a tuna company in Ecuador.
- An anti-counterfeiting solution utilizing a specialized dual-QR code lock to track and analyze the opening of counterfeits.
- Binance Charity and Perlin jointly initiated Global Ledger at the 2019 Annual Meeting of the New Champions, also known as Summer Davos, by the World Economic Forum in Dalian, China.
- Global Ledger is a coordinated international initiative launched by a coalition of Young Global Leaders from the World Economic Forum to support greater environmental transparency and accountability using blockchain technology.
Every decade, the International Chamber of Commerce releases the Incoterms which are the rules and guidelines for international trade. Perlin, in collaboration with the International Chamber of Commerce, is looking to release Smart Incos, a platform that utilises oracle data and smart contracts to automatically track Incoterms used by trading parties.