Finally, the sweet taste of victory is upon us: DDK Blockchain 2.1 will be escalating our project to a higher level by bringing a lot of new and upgraded functionality for the DDK community and ecosystem.
This milestone marks DDK project’s divergence of the Ethereum blockchain towards a new era of better, more efficient, and scalable infrastructure in DDK Core 2.1
It has been a long and challenging journey that led us here. We are thrilled to start a new phase of development for DDK and bring you up to speed with what has been achieved where we are headed next.
But first, we want to extend our gratitude to the DDK community for having our backs, never failing to stay optimistic, and always showing support. We are truly blessed to be empowered by such an engaging crowd of DDK token holders. Thank you all!
So, here we go. Buckle up and keep reading. It might get a bit technical but there is no other way to put it. Below we tried to provide a concise summary of the most significant DDK Blockchain functions and characteristics:
New Payment Addresses
All new addresses are encoded with the Base58Check which validates entire receiving addresses and prevents faulty transactions & human-errors such as incomplete copy/pasting, typing 0 instead of O and others.
Just like the Bitcoin blockchain, DDK addresses will have a fixed length of 37 characters and will start with a “DDK” prefix making them always easily recognizable.
Improved Key & Cryptographic Signatures
From now on, DDK blockchain will use the Elliptic Curve Digital Signature Algorithm (ECDSA) to issue private/public keys and assign signatures. ECDSA is an improved variant of the DSA standard which is based on modular exponentiation.
What you need to know is that ECDSA algorithms make it possible to send private & secure messages, in our case – transactions of DDK equipped with 3 distinct and very important security properties:
- Source authentication: The receiver can verify the origin of the message and who sent it;
- Integrity verification: The receiver can verify that the message has not been edited or changed since it was signed;
- Non-repudiation: The sender cannot revert back and falsely claim that they have not signed the message;
These aforementioned properties ensure that source authentication, integrity verification and non-repudiation security goals are achieved. DDK ECDSA runs with the most trusted and time-proven Secp256k1 curve which is also the same curve used in the Bitcoin blockchain.
Built-in Smart Contracts
DDK Core 2.1 comes with built-in, pre-compiled smart contracts for DDK Asset Issuing (DAI), Multi-Signature, and possibly for other use cases in the future. Smart Contracts are programmable agreements between multiple parties with transparent rules and irreversible in nature once executed.
Smart contracts provide the ability to shift various agreements between individuals and organizations onto the blockchain thus greatly increasing execution times and essentially making them tamper-proof.
Native Assets: Token Issuance/ DAI
One of the highly anticipated functions which have been built-in in the DDK 2.1 Core is the ability to issue tokens. While ERC20 and other ERC standard-based tokens are created on the Ethereum blockchain, DDK will have its own universe of assets with numerous use cases:(payment vehicles, voting tokens, property rights, collectible items are just some of the examples to name a few) which will able to build useful applications or businesses by using this smart contract.
DDK Asset Issuing will allow users to store and create their own token in DDK Platform. In order to create the new token using DAI, it requires the process of the issuer to burn DDK native coins in order to issue the new token. This burn amount of DDK native coin is directly relative to the minted supply of newly issued token that the issuer wants to create.
The sky’s the limit and with native assets, DDK blockchain enters a whole different world of possibilities to build useful applications as well as businesses.
Multi-Signature is a specific scheme that requires multiple (at least two) signatures in order to verify and execute the transaction. It means that in order to send funds from a Multi-Sig enhanced wallet, all key-holding parties must approve the transaction for it to happen. This is because the account will require the signatures of multiple people before the funds can be transferred out.
It is an extremely useful safety feature utilized by trusts, funds, and organizations managing either vast sums of money or acting on stakeholders’ behalf. Moreover, it makes it near impossible for a fraudster to withdraw funds and get away with the money.
Hierarchical Deterministic (HD) Wallets
HD Wallets are time & effort saving functionality that significantly improves legacy systems of conventional wallets. Since the cryptographic DSA addresses started to be used, the user had to repeatedly generate new private/public key pairs for receiving and sending messages (transactions). This method requires a backup after the creation of every address to keep track of all the private/public key pairs.
With HD wallets, however, all possible key pairs are generated instantly using the 12-word recovery seed phrase. It also allows determining the whole tree of public keys (addresses) from a parent public key – private keys are not required.
Moreover, the owner of the parent private key can set up hierarchical branches and generate public/private key pairs for each branch to delegate access and management rights to others. This way a ‘branch manager’ can spend coins and execute transactions that are located in that particular branch without having access to the whole system.
It allows the compartmentalization of activities and implementation of accounting as well as governance systems – HD wallets significantly improve the management and efficiency of private/public keys.
Enhanced Network Scalability
With the new update, DDK blockchain will operate with increased block sizes and immensely increases the number of transactions that can be included in a single block. It makes space for thousands of transactions being bundled and added to the chain every single time a new block is being created.
Blockchain transactions now will have the option to include auxiliary data also referred to as metadata that may provide additional data about how the block has been generated. Core 2.1 is presented with an estimation of 1 block is 30 second. 1 block can fit a minimum 1 transaction to maximum 6000 transactions per block. 1 transaction is ~64KB and 1 block maximum size is 1MB (Not MiB). Meaning DDK Core 2.1 would be around ~217 TPS (Transaction Per Second).
*Disclaimer: The information contained herein is subject to change and any changes we may make to our development in the future will be notified to you by announcement, where we consider it appropriate. Please check on our announcement frequently to see any updates or changes made to our development.
From now on we can switch to provide a really transparent and fair way for people to be rewarded. People that are bringing more value and transactions onto the DDK blockchain can now be rewarded directly through the blockchain – get a portion of the fees spent by the users they have referred.
We believe this functionality that has been cemented in the ecosystem can save a lot of overhead meanwhile giving a ‘set in stone’ framework for alliance ensuring fair and stable reward distribution.
More features are being rolled out on a daily basis and we keep on improving the architecture and plan to continue building on it. Don’t worry, we will keep you posted on all the major developments that are coming in the nearby future.
Multiple-thread of CPU:
DDK Core V2.1 and the new wallets will run in multiple-thread of CPU in which multiple tasks can be processed at the same time, unlike current Nodejs core which can only utilise a single thread at one time. The tasks to be performed by a process are being broken down into sub-parts, and multiple CPUs (or multiple cores) will process each sub-task at precisely the same time.
- DDK Core V2.1:
– C++ core: Linux, Windows, Mac
– Docker core: Linux, Windows, Mac
- New wallet:
– OS: Linux, Windows, Mac/iOS, Android, Web
Open for passphrase redemption and Send Stake function
Passphrase redemption will be open to those users from the previous ETPS platform (centralized Pre-ICOs) who have not got their account passphrase yet. In addition, In DDK Core 2.1, we will enable the send-stake function which users are able to transfer the ownership of a stake contract to other users. We believe these two (2) features are the most awaited DDK structure that is built for DDK community solutions and bigger community expansion.
In DDK Core v2.1, there will be a few new transactions that will exist. Apart from the current transaction which is vote, unvote, send, stake, 2nd passphrase and Delegate registration, on this 2.1 Core will be others transactions that are going to be added to improve the platform such as send stake function, multi-signature and many more that will be finalized soon. For the transaction fees, there are some upgrades to new fees that will be made and this will be announced once it has been finalized. Please stay tuned for the next announcement from us.
Changes in the number of Active Delegates
There will be a change in the number of Active Delegates from 101 to 51 active Delegates due to ensure the stability of the DDK Core 2.1 Blockchain platform that required only ACTIVE nodes to be operated without a missed block. We can see that 50% of the Delegates nodes as per current status – https://explorer.ddkoin.com/delegates shown were active nodes. Thus this decision was made by assistance of the group of DDK Developers based on the current analysis and nodes performance to make sure that when Core 2.1 was implemented, it would be as efficient as planned.
DDK Core 2.1 Blockchain definitely is going to change the realm of Blockchain adoption in the DDK community and cryptocurrency environment as well as will be spread to the entire Blockchain ecosystem. Thus we really hope that this first (1st) official announcement about the concept and features of the latest upgraded version of DDK Core will give more solutions towards financial technology advancement.
Stay tuned with technology knowledge and implementations. Please be noted that Test-Net Core 2.1 is estimated to be launched in September 2020. Lets moving towards Decentralized Finance (DeFi) solutions platform!
Your cooperation is highly appreciated.
DDK Foundation Team
The information contained herein is subject to change and any changes we may make to our development in the future will be notified to you by announcement, where we consider it appropriate. Please check on our announcement frequently to see any updates or changes made to our development.