Layer-1 blockchains—base networks where secondary blockchains are built—have experienced a massive influx recently. Conversely, this did not translate to solving existing problems as there is a dearth of networks suitable for high-stakes applications, partly due to the lack of capacity to meet strict requirements like HIPAA and GDPR.
These problems, amongst others, prompt the need for a high-grade blockchain solution. In comes the Circular Protocol project.
A 4th-Gen Blockchain Layer-1 Solution
Circular is a 4th-generation layer-1 blockchain in full compliance with healthcare and medical regulations while being easily adaptable. This project not only caters to the DeSci and healthcare sector, but its underlying architecture also makes it ideal for adoption in the DeFi, GameFi, finance, journalism, and electoral industries.
This project aims to offer a blockchain that addresses recurring issues, provides sustainable solutions, and offers an ecosystem to build scalable, secure, and decentralized applications. To achieve this, the Circular team introduces advanced components that make the layer-1 network a one-of-a-kind project.
Technological Framework
Circular's architecture supports both private and public blockchains and guarantees compliance with HIPAA and GDPR for the healthcare industry, which is unique. Other key tech components include the Peer-2-Peer Discovery Service (P2PDS), which facilitates the registration of nodes and the provision of peers' lists within the ecosystem. It enables nodes to register with the network, and since they (nodes) regularly download network updates from peers, the P2PDS ensures that new nodes are discoverable and subsequently integrated. It helps to maintain Circular's scalability and connectivity.
Another standout component of Circular is the Proof of Reputation (PoR) consensus algorithm. While the PoW and PoS mechanisms have been used by various networks over the years, they have both been plagued by scalability/centralization and cost issues, respectively. PoR, on the other hand, is an efficient and straightforward algorithm for seamlessly achieving consensus on a blockchain. It imitates human behavior in the consensus-building process and, unlike the PoS system, penalizes misbehavior using future earnings as a deterrent.
PoR introduces a reputation index where a reputable node earns the larger share of transaction fees, and the not-so-reputable one earns little. Nodes can improve their reputation by continuously performing at the top level and being in agreement with the majority. On the other hand, they lose reputation points if they disagree with the majority and each disagreement incurs a decrease in rating. Furthermore, within the PoR system, when nodes create a new block, they broadcast it to the entire network. All other nodes must verify various aspects of the block. Once that is done, it is signed with either an acceptance or rejection statement and sent back to the block creator. The creator then collates the responses to determine if the block is accepted or rejected by the majority. This is how Circular's PoR consensus algorithm ensures effectiveness and efficiency within the ecosystem.
Auto Progressive Sharding
Circular classifies nodes based on their performance, determined by their Processing Power and Connectivity Speed. These nodes are categorized into subnets, with Subnet 1 containing the lower-performing ones and vice versa. The 4th-generation layer-1 solution is committed to delivering a lightning-fast ecosystem, and Auto Progressive Sharding helps achieve that.
This system guarantees that the performance of the network is not held back by the slowest node. How? Lower subnets are assigned fewer tasks. The high-ranking subnets, on the other hand, are given visibility of all networks, allowing them to process transactions faster and more efficiently. The introduction of this feature enables peak effectiveness while providing nodes with adequate resources to continue validating blocks promptly. Auto Progressive Sharding enables Circular to reach and exceed any set transaction throughput. However, it is not solely responsible for undertaking this task; the Network Access Gateway (NAG) routes new blocks by generating a subnet index and distributes transactions to different subnets accordingly.
NAGs, in combination with Auto Progressive Sharding, ensure that all transactions on the network are handled quickly without compromising on the high level of security and reliability.
Circular Nodes
Circular's node framework is both simple and efficient, each executing all of the necessary validation functions. The Web Server (WS) allows nodes to interact with each other based on the TCP/IP protocol. Communication between nodes is signed to enable identification and is handled by the Transaction Manager, who is responsible for parsing and redirecting transactions to the right blockchain. The Circular team further introduces the Hyper Code (HC) virtual machine that enables the running of smart contracts on two modes—Interpreter and Compiled.
Circular incorporates consumer hardware compatibility that enables nodes to operate on the consumer hardware level and seamlessly mine blockchains simultaneously. This is aimed at incentivizing nodes to process more transactions, generating loads of revenue for node owners across the network. Circular is eco-friendly, leaving a minimal energy footprint partly because every action on the ecosystem serves a specific purpose or two. Running multiple blockchains concurrently dispels inefficiencies and introduces a tad higher grade of flexibility to the project. This enables it to undertake and accomplish a series of tasks that other layer-1 networks can barely attempt.
Circular aims to become a fully open-source blockchain network with all necessary software components to be launched soon. The layer-1 blockchain solution utilizes the C++ programming language as it offers better control over hardware and memory and delivers a scalable network where high-value transactions can be processed effortlessly. Circular's integration is straightforward and capable of revolutionizing the current healthcare, journalism, electoral, and finance sectors.
Conclusions
Circular's blockchain is interoperable—it allows users to perform transactions across networks conveniently. By leveraging smart contracts, these novel components, and partnerships with other layer-1 platforms, Circular especially supports DeSci and healthcare applications, which require an extra layer of regulatory compliance, thus passing the test of throughput and security at scale.
To know more: https://circularlabs.io
Circular is a 4th-generation layer-one blockchain designed to address the typical limitations of the previous generation layer-one chains. Circular's sweet spot is DeSci: developers and enterprises are finally able to evolve research, innovation, and in-market execution within all areas of applied healthcare, pharma, and science in a journey towards transparency, data security, and democratization of access and data ownership. Circular Protocol provides tamper-proof data auditing with decentralized blockchains and zero-knowledge proofs, ensuring compliance and protecting patient data while certifying processes and content. Privacy and decentralization, maximum throughput and scalability, interoperability, and proof of reputation: all of it is feasible thanks to a proprietary parallelized and multi-chain architecture paired with revolutionary tools and applications.
Circular has offices in Boston and Lugano. Dr. Gianluca De Novi, its CEO and Co-founder, is an expert in high-performance computing with a strong background in 3D real-time graphics, physics simulation, robotics, and blockchain technology. He holds a Master's in Electronics and Computer Science and a PhD in robotics from the University of Bologna. Currently, he directs the Medical Device and Simulation Lab at Massachusetts General Hospital and has been a faculty member at Harvard Medical School and Harvard Extension School since 2011. His work includes US Department of Defense-funded research in the Med-Tech industry.
