Perlin tag-line: "Leaderless PoS Blockchain. The way blockchain should be."
The project promises below
31K Transactions per second
0 to 4-second finality
Using Leaderless Proof of Stake
Does this project need to use blockchain technology?
Yes, Perlin has its blockchain called Wavelet. They are aiming to improve the blockchain scalability to the next level keeping fully decentralised blockchain and without compromising security using leaderless PoS protocol.
Can this project be realised and feasible to implement?
It’s difficult to believe but based on their testing benchmarks it seems it’s possible to achieve 31k transactions per second using leaderless PoS protocol.
Does anyone need this project?
I think yes millions of people around the world can benefited including regular people doing shopping every day or enterprises want to build fast blockchain truly decentralized application.
Is this project protected from commonly known attacks?
Yes, Wavelet has No committees, no leaders, no central authority; absolutely zero trust. Wavelet is open, permissionless, and leaderless.
Quality of whitepaper?
Wavelet whitepaper is concise, explains the directed-acyclic-graph (DAG)-based leaderless PoS consensus protocol.
They have explained the leaderless concept in depth here — https://medium.com/perlin-network/why-leaderless-1e8fb5831fad
DAG-based Distributed Ledger
The validators and staking mechanisms of the current POS, but the validators aren’t deciding which blocks are valid. Wavelet utilises its unique system, which you can learn more about in Wavelet: Staking and Decentralisation.
This leaderless POS solution doesn’t make any compromises between security and performance as Wavelet isn’t dependent on its validators for its POS protocol to work. The validators aren’t leaders in Wavelet. There are no leaders in Wavelet.
WASM Based Smart Contracts
The intermediate language that Wavelet’s smart contract engine utilises is WebAssembly — which is a universal binary format designed for secure, fast and sand-boxed execution. Along with Rust, WebAssembly can compile many other languages as well.
Wavelet: A bleeding fast ledger with a powerful compute layer.
Wavelet guarantees under a partially synchronous network
Total ordering of transactions: All nodes will finalise and apply the same set of transactions in the same order, allowing for consistency between the nodes.
Transaction irreversibility: Once transactions are accepted and finalised, they cannot be canceled.
Noise: A decentralised P2P networking stack written in Go. Used gRPC at the transport layer.
Life: A secure WebAssembly VM catered for decentralised applications.
Smart-contract-rs: Writing WebAssembly smart contracts in Rust.
Lens: A TypeScript/React/MobX web interface to a Perlin node's API.
Documentation - https://wavelet.perlin.net/docs/setup
Overall I liked the Perlin project and their vision and unique leaderless PoS protocol.
The CTO, Kenta is very strong technically and he knows what he has been doing - very clear on the concepts.
They have a few decentralised apps deployed on Perlin blockchain.
I liked the DAG implementation of their blockchain and the vision to make it possible to run a full wavelet node on any smartphone with internet connection and 512MB Ram.
Their tests benchmark proves the 31k transactions per second but the only concern I have is whether this will be work the same way in real-life!
If it does then Perlin will be at the frontline of addressing blockchain scalability without compromising security and still be fully decentralised.