BigTangleWebsiteWhitepaperThe BigTangle is a decentralized cryptocurrency, payment, exchange, supply chain and e-commerce platform.
BigTangle is a cryptocurrency network with intrinsic token BIG extending the directed acyclic graph (DAG) architecture Tangle.
It combines feeless, low latency transactions with scalability and mining.
Through the use of industry standard big data technology (Spark, Kafka, etc.) in conjunction with the parallelizable Tangle architecture,
it is intended for nodes to run on computer clusters, removing single machine limitations.
BigTangle employs a Proof-of-Work-based DAG mining process to introduce inflation and network validation incentives.
The transaction consensus is achieved in a completely decentralized manner and does not rely on any centralized instances.
Finally, custom token self-issuances, also known as "Colored Coins", and smart contracts are supported to enable leveraging the network capabilities through a number of economic key use cases.
Properties Fully feeless transactions Performing transactions only requires validation of other transactions plus very light Proof of-Work
Near infinite scalability Under the assumption of sufficiently powerful nodes, the Tangle base architecture can scale to near infinite transactions per second due to its asynchronous nature.
Low transaction confirmation time The transaction confirmation time scales logarithmically with the transaction throughput and stays in the range of seconds for millions of transactions per second.
Permissionless, trustless, decentralized Network participation is completely permissionless, resulting in a fully decentralized and trustless network.
~2% inflation per year Inflation through the mining process is (proposed to be) set to 2% of the initial total supply.
Low variance mining Due to the DAG structure, BigTangle moves away from the "winner-takes-it-all" mining of traditional blockchains.
Instead, most of the honest transactions are rewarded through the mining process.
Custom token self-issuance BigTangle allows for custom issuance of tokens, e. g. any network participant can create new tokens that can be transferred.
UTXO model and Bitcoin's stack language Script BigTangle uses Bitcoin's Unspent Transaction Output (UTXO) model and their input / output scripts.
This allows BigTangle to provide at least the same functionality as Bitcoin.
PoW hashing algorithm To prevent problems arising from light Proof-of-Work and specialized mining hardware, the Equihash Proof-of-Work algorithm is considered.
Do note however that this is not final and may be changed.
Extends Tangle base architecture BigTangle uses the DAG base architecture called Tangle.
It is a DAG structure where every block references two previous blocks and confirms the validity of all (directly or indirectly) referenced blocks.
You can check out the white paper and a prototype feature test wallet on our website. 