Powered by the Moonshot consensus mechanism, the Supra network brings blazing-fast performance along with robust security guarantees to its Oracle data feeds.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
3 mins read
Layer 1 blockchain and oracle service provider Supra recently announced that it would introduce its consensus mechanism at the DSN 2024 annual conference on dependable systems and networks. At the upcoming event, Supra’s team wishes to present an official whitepaper of the consensus mechanism Moonshot while demonstrating how it sets a new standard for the blockchain industry.
The demonstration highlights Moonshot’s significant surge in throughput as well as the reductions in latency to the world’s fastest and most-performant decentralized consensus algorithm Joltean. Furthermore, Supra is also popular for its industry-leading oracle price feeds along with verifiable randomness services adopted by over 80 blockchain networks.
The Supra Distributed Oracle Agreement (DORA) advances blockchain capabilities while making way for the integration of real-world data. It addresses crucial challenges around Byzantine faults as well as data integrity for smart contracts in the Web3 ecosystem.
DORA features both on-chain and off-chain use cases for spot and perpetual DEXes, payment protocols, and lending protocols. It also plays a key role in bridging deterministic blockchain networks with the real world.
Powered by the Moonshot consensus mechanism, the Supra network brings blazing-fast performance along with robust security guarantees to its Oracle data feeds. During its advanced global testing phase, Supra showcased Moonshot’s impressive capability to handle 530,000 transactions per second across 125 globally distributed nodes. With 500-millisecond optimistic finality and approximately 1.5–2 seconds full block finality, Moonshot sets a new standard, outperforming many competing consensus mechanisms.
In its advanced global testing phase, Supra demonstrated Moonshot’s remarkable ability to process 530,000 transactions per second across 125 globally distributed nodes. Achieving 500-millisecond optimistic finality and approximately 1.5–2 seconds full block finality, Moonshot outperforms many competing consensus mechanisms, setting a new industry standard.
The Moonshot acceptance reflects how supra is becoming a leading force in building the technical capabilities of decentralized networks. It also leads to a novel approach balancing the need for performance and robustness with top-notch security.
Along with presenting Moonshots, Supra’s database has been awarded Reproducible Badges, certifying that their performance has been independently verified using research objects, code, and analysis. Supra is pushing the boundaries of consensus mechanisms with its newly introduced DAG-based protocol, “Sailfish.” Designed to surpass the current state-of-the-art in terms of latency, Sailfish, when combined with Supra’s Moonshot consensus algorithm, is expected to deliver outstanding performance results.
The University of Queensland will host the DNS 2024 event at its campus in Brisbane, Australia. It is one of the most popular and longest IEEE conferences in the world.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
