What is Synapse?
Phore Synapse is a revolutionary architecture which makes use of sharding technology and will have a theoretical capacity to process hundreds of thousands (100,000s) of transactions per second, support high-performance execution of fully Turing-complete smart contracts to support complex decentralized applications (dApps) and business models, and allow the creation of customized shards that are optimized for different use cases while allowing full interoperability between shards.
Unlike other proposed sharding platforms, the architecture being developed by Phore will retain a FULLY decentralized nature, as Synapse features a completely decentralized governance system, (though with extended capabilities), allowing much broader participation from the community as Synapse nodes will have much lower collateral requirements than current Phore Masternodes. These nodes will also take on the staking functions, which is not currently possible with traditional Masternodes. Phore Synapse will allow Synapse node owners to run their nodes whilst storing holdings offline or in cold storage, such as when protected within hardware wallets.
Unlike Phore’s current architecture which uses the Proof of Stake (PoS) 3.0 consensus algorithm, Phore Synapse makes use of the CASPER algorithm which enhances security by helping blocks become finalized more quickly, and reducing blockchain forks. This solves known issues with previous PoS algorithms such as the nothing-at-stake problem and increases performance by supporting BLS aggregation signatures that vastly reduce block processing and validation.