IOTA’s ‘Tangle’ is the most well-known project built on a direct acyclical graph (DAG), the most common blockchain alternative with the aim of creating a more scalable, energy efficient and time efficient network than the classical blockchain.
The protocol de jour appears to be EOS/Dan Larimer’s delegated proof-of-stake (DPoS) which has spawned other projects and also hybrid protocols like resulted delegated-proof-of-stake. Tron’s proof-of-authority and Neo’s delegated byzantine fault tolerance protocol also work on a similar premise to DPoS. In fact, it almost seems the more esoteric-sounding acronyms a project can fit into its whitepaper the more credibility it garners.
“One of the bigger issues with smart contracts is that even if there is not an explicit bug, there might just be something in the contract that gives a single party a massive amount of control. We’ve seen several ICO contracts that allow the creator to freeze or in some cases even execute custom code inside the smart contract. This can defeat the purpose of using a decentralized smart contract completely and is the reason we provide tools that allow for more responsible governance of individual contracts,”
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