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Petrachor

Build. Trust.

Petrachor is a secure and scalable digital asset platform, empowering a decentralized Internet experience.

Our light-weight architecture blockchain can run from a phone, tablet, or desktop - never trust a third-party again.

Petrachor uses 100% original code for the Ariel Protocol - a resource efficient and censorship resistant Proof of Stake consensus.

Millions of nodes can actively participate in mining - eliminate the need for mining pools, and providing optimal security.



Proof of Stake v4

The Ariel Protocol is a Proof of Stake v4 consensus, improving upon problems found in current PoS implementations. Like Bitcoin, our PoS consensus provides probabilistic finality. There are no checkpoints - the chain with the most cumulative difficulty is the canonical chain. Miners can join and leave at anytime, there is no minimum balance required, and staked balances can be spent without restrictions. By providing rewards to full-node operators and using a predefined, and permanently inflationary issuance schedule, Petrachor establishes a platform with exceptional scalability and long-term security.
The consensus itself is very simple, and works a little bit like Bitcoin's Nakamoto consensus. Each miner creates a hash, and this hash must exceed a certain minimum difficulty. The difficulty constantly adjusts in order to target our 30 minute block time. Unlike Proof of Work, which depends solely on computational power, our miners are rate limited to one hash per second, so that virtually any device can participate in mining and earn block rewards. Petrachor miners must create a hash based on a combination of:
  1. a timestamp that comes after the parent timestamp, but not in the future
  2. the public key of the miner, and
  3. the stake modifier
This hash is generated using the BLS signature scheme and the BLS12-381 elliptic curve, in order to provide a secure random beacon. Once a miner finds a hash meeting the required difficulty, they can sign the block with their BLS private key, and add transactions to the blockchain. Anyone running a full-node can easily verify that the block is valid by reproducing a hash of the 3 items listed above.


Technical Overview

Petrachor uses the Ariel PoS protocol, which is our custom implementation of the original iChing Proof-of-Stake consensus, a secure and eco-friendly Satoshi-style protocol. iChing is a natural mimic of Bitcoin consensus; as a result, scalability solutions for Bitcoin can be immediately used in Petrachor. By applying this blockchain protocol to a fork of the Ethereum source code, we deliver a powerful new dApp platform combining the energy-efficiency of PoS with the power and versatility of Ethereum.

Proof of Stake

Keeping in the spirit of naming consensi after ghosts, Ariel incarnates an academic protocol that was proven to satisfy important formal chain properties including common prefix, chain quality, chain growth, and chain soundness.

BLS Signature Scheme

The Boneh-Lynn-Shacham unique signature scheme is used for the core random beacon of Ariel. By also securing accounts with BLS, we pave the road towards interesting future extensions, such as multisignatures, threshold signatures and aggregate signatures.

BLS12-381 Elliptic Curve

The elliptic curve used by our signature scheme is BLS12-381, a Barreto-Lynn-Scott curve. This curve was introduced in Sapling, the latest upgrade to the ZCash protocol, with the aim to improve efficiency and security while reducing memory intensivity.

Specifications

Blockchain:
Native Unit:
Resource:
Consensus:
Initial Supply:
Target Block Time:
Minimum Coin Age:
Block Reward:
Compute Engine:
Signature Scheme:
Elliptic Curve Pairing:
Mainnet Launch:
StakeModifier:
Petrachor
Petra (PTA)
Proof of Stake
Ariel Protocol
1,000,000,000 PTA
30 minutes
256 blocks
3% annually
Ethereum Virtual Machine
Boneh-Lynn-Shacham
Barreto-Lynn-Scott - BLS12-381
March 13, 2019
Bitcoin Hash Block# 566795

Petra Supply

Total Supply:
Circulating Supply:

References

A Scalable Proof-of-Stake Blockchain in the Open Setting
Short signatures from the Weil pairing
BLS Multi-Signatures With Public-Key Aggregation