Blockchain Algorithm

Despite the fact that Bitcoin and Ethereum are the founders of the cryptocurrency market, the technologies on which they were created are outdated and have a number of fundamental flaws.

Security and speed of work have become the main problems of blockchain technologies in recent years. It's no secret that the complexity of performing operations (calculating a hash) in Bitcoin and Ethereum networks has led to the fact that transactions have become quite expensive and time-consuming. There are two options - wait longer and pay less, or wait less but pay much higher transaction fees. All this leads to the need to increase the productive capacity of miners, to purchase more and more productive computer equipment and create an artificial rush.

Today, there are several main problems:

1. Poor performance with high transaction and withdrawal costs;
2. Lack of protection of user rights, built-in evidence base of ownership of crypto assets, and, as a result, the inability to cancel erroneous transactions;
3. High volatility, lack of support;
4. Significant influence of the information background on the fluctuations in exchange rates;
5. High difficulty of mining cryptocurrencies.

The idea of ​​blockchain technologies (or rather the first cryptocurrencies) was initially to make transactions as simple as possible and at the same time cheap, and most importantly, secure. In other words, the idea was to improve the lives of people, ordinary consumers, with this technology. But, unfortunately, at the end we got not only slow computations and transactions, high cost, high volatility, but also a rise in prices for computer equipment, which affected even those who were not very interested in the crypto market, and maybe even completely did not know about its existence.

The Bitcoin network is built on the ECDSA algorithm, i.e. uses elliptic curves and trailing fields to sign data, which allows a third party to confirm or deny the authenticity of transactions. Often, the "security" of Bitcoin is based on the fact that knowing the secret key and the starting point, we can easily calculate the public key. Today, this is no longer enough to feel completely safe, because the power of quantum computers is growing exponentially and in the near future, hacking the Bitcoin network will not look so out of reach. Therefore, when creating new technologies, it is worth focusing on post-quantum cryptography, for example, on the ZK-STARK cryptographic solution

In this regard, the demand in 2020-2021 for other, more modern Blockchain projects has grown among cryptocurrency users. People are looking for a faster and more profitable solution that will allow instant anonymous transactions with full control and maximum security.

Looking back at the complexity and large size of Bitcoin hash-blocks (and hence the difficulty of making transactions), Cybor Holding specialists decided to develop their own algorithm for distributing points on the graph, providing connections between points and a unique transaction confirmation system based on Dijkstra's algorithm and zero-knowledge protocols, which was named Blockchain Algorithm.

The main idea behind the Blockchain Algorithm was the idea of ​​returning ease of use to people, reducing the cost and becoming the next round in the development of blockchain technologies.

Studies of the cryptocurrency market and the technologies used in it, carried out by Cybor Holding specialists, have shown that the rapid development of technologies makes users worry about the safety of their data, and technology companies create more and more sophisticated and complex systems.

Thanks to the time-tested Dijkstra algorithm and the progressive post-quantum technology ZK-STARK, the Blockchain Algorithm has the opportunity to return users to the simplicity and speed of working with the crypto market, while ensuring the highest level of data security.

Due to its transparency and uniqueness, Blockchain Algorithm can be easily scaled and integrated into all spheres and industries of the modern world. The goal of the Blockchain Algorithm is not just to create something new, but to create the best.