About the Blockchain Service
Z.com Cloud Blockchain / ConoHa Blockchain provides a similar service to the public Ethereum network.
We call this a "Semi-Public Blockchain" and we believe that the view of the world expressed by Ethereum can be realized just like a public blockchain.
Ethereum's view of the world
Semi-Public Blockchain is an "almost" public blockchain.
The network is fully disclosed as a shared environment at all times, and anyone can connect as a node.
Users can freely deploy contracts and can call them freely.
By deploying contracts on the network of this service, you can create an application that runs constantly and automatically executes like the public Ethereum environment.
The difference to the public blockchain is that "only miner nodes are limited". This is the main distinction.
Semi-Public Blockchain conceptual image
The image of the position of the Semi-Public Blockchain is as follows.
If various applications operate on the same network and applications collaborate with each other, it will be possible to construct a world where computing can autonomously operate at low cost without intermediate players.
Merit/Demerit of the Semi-Public Blockchain
The Semi-Public Blockchain mechanism has the following Merit/Demerit compared to the public blockchain.
The mining speed on the blockchain depends on the consensus algorithm, the performance of the mining node, and the network performance.
By limiting the mining nodes, it becomes easy to select consensus algorithms, adjust the performance of mining nodes, network performance and so on, thus enabling high-speed mining processing compared to public blockchains.
Control of the Execution Cost
By restricting the mining nodes it is possible to control the price of the virtual currency needed to run applications.
For this reason, in contrast to public blockchains, where execution costs can not be calculated, semi-public blockchains can provide services with stable prices.
Less Concerned about Network Division
In the blockchain environment, situations such as the network's overall interest separating from individual miner interests can occasionally occur.
In semi-public blockchain, mining nodes are restricted, and there is little possibility that interest relationships will occur between minors.
Therefore, even though a fork may occur and a block may be temporarily separated, it is anticipated that no such misalignment of interests will occur that will break the entire network.
Difference from decentralized concept
Restricting mining nodes is in some aspects outside the 'decentralized' concept of blockchains.
Dealing with this service
Anyone can connect to this Semi-Public Blockchain service, and connected nodes can always check the status of all transactions and constructed blocks.
If a mining node performs arbitrary mining, malicious mining, block alteration or the like, it is shared with all nodes connected immediately, so that it is very difficult to do malicious mining or block falsification.
Reduction of fault tolerance
Compared to the public environment, mining nodes are fewer, so the possibility of failure of mining nodes is higher than public environment.
Dealing with this serviceBy managing all mining nodes, API nodes, data storage and so on in multiple regions, we are offering a robust environment that keeps running even if an entire data center goes down. (Currently under construction for production service)