The Blink Consensus Protocol can be described as a chain of directed acyclic graphs (DAGs). The timeline is divided into epochs called rounds. A round is linked to the previous one, forming a chain-like structure. Transactions created during the same round form a DAG. The Protocol combines the best of both worlds: performance of DAGs and security of blockchain.
Taking advantage of the protocol’s high throughput and low latency, Blink will build the first cryptocurrency that can be used for real life payments. High throughput translates into very low transactions fees, which in turn enable micro transactions and payments. Once the main net is launched, the Blink team will focus on reaching a global wide spread distribution.
Poor scalability has been the main reason distributed applications failed to reach mainstream adoption. The Blink Protocol is compatible with smart contracts and will be the basis for the most powerful infrastructure for DApps. The virtual machines will be based on Web Assembly, allowing the creation of smart contracts in multiple languages.
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