Hello! It's me again. Remember my article "The Achilles' heel of Blockchains?" Well consider this a part two. After thinking about the article I wrote, I decided to act on it. I made a list of what I thought were the flaws in current blockchains. The list went like this:
- High gas fees
- Slow transaction times
- Known private key range
The last one was obviously the biggest. While the private key range is still huge, I wrote in my last article how one could potentially find a specific private key in this range. At this same time, I discovered something called brainwallets. The infamous concept of storing your crypto with a private seed you made. The phrase you come up with was still SHA hashed though, creating a limited key space. I had an idea, why not remove SHA from the equation entirely? Using a Vigenere cipher like tool to encrypt private data on the blockchain, while all data would be stored on IPFS. The user would make changes to their personal section of this "database" by pulling a local copy of what section they need, and decrypting it with their private key. The data would then be encrypted again, and resubmitted to the IPFS database for the peers to copy. There would be an almost infinite key space, as anything from your name to a quantum number could be used as a private key.
Another awesome aspect of this hypothetical chain would be gas-less transactions. You would make a change to your section in the database, and changes would only be verified by the user sending the transaction, and the user receiving it. If multiple users teamed up to create a false token, they wouldn't be able to use it with legitimate sellers, as it wouldn't be in the main database. Transactions would be near instant as well, because you would handle your own. Unless you are sending hundreds of transactions at a time, then it should be instantaneous.
Of course, using a new chain shouldn't mean having to give up old ones. With this chain, you would be able to import block data into IPFS and have multiple peers host it, allowing you to have sub-chains on the network. These wouldn't just be tokens pegged to a value, these would be a copy of a blockchain from the exact block it left off on. Imagine gas-less BTC, ETH, BCH, BSC, MATIC, and others all in one wallet? This chain hopes to make it a reality. NFTs would've course be supported as well. The blockchain is very early stages, so don't expect much right now. ??
Github Organization for this blockchain: https://github.com/Universe-Blockchain
