Roadmap
Solution: Killer Whale Coin - Enabling Mining on Mobile Phones
Stellar has some options
As of January 12, 2025, the market capitalization of Stellar (XLM) is $12.92 billion. In comparing existing consensus algorithms (the process that records transactions into a distributed ledger), the Stellar Consensus Protocol emerges as the leading candidate to enable user-friendly, mobile-first mining. Stellar Consensus Protocol (SCP) uses a novel mechanism called Federated Byzantine Agreements to ensure that updates to a distributed ledger are accurate and trustworthy. SCP is also deployed in practice through the Stellar blockchain that has been operating since 2015.
A Simplified Introduction To Stellar Consensus Protocol
KW can use the other type of consensus algorithms and is based on the Stellar Consensus Protocol (SCP) and an algorithm called Federated Byzantine Agreement (FBA). Such algorithms don’t have energy waste, but they require exchanging many network messages in order for the nodes to come to “consensus” on what the next block should be.
Each node can independently determine if a transaction is valid or not, e.g. authority of making the transition and double spending, based on the cryptographic signature and the transaction history.
However, for a network of computers to agree on which transactions to record in a block and the order of these transactions and blocks, they need to message each other and have multiple rounds of voting to come to consensus.
Intuitively, such messages from different computers in the network about which block is the next would look like the following:
- “I propose we all vote for block A to be next”;
- “I vote for block A to be the next block”;
- “I confirm that the majority of the nodes I trust also voted for block A”,
from which the consensus algorithm enables this node to conclude that “A is the next block; and there could be no block other than A as the next block”;
Even though the above voting steps seem a lot, the internet is adequately fast and these messages are lightweight, thus such consensus algorithms are more lightweight than Bitcoin’s proof of work. One major representative of such algorithms is called Byzantine Fault Tolerance (BFT). Several of the top blockchains today are based on variants of BFT, such as NEO and Ripple.
SCP is one instantiation of FBA. Instead of burning energy like in Bitcoin’s proof of work consensus algorithm, SCP nodes secure the shared record by vouching for other nodes in the network as trustworthy. Each node in the network builds a quorum slice, consisting of other nodes in the network that they deem to be trustworthy. Quorums are formed based on its members quorum slices, and a validator will only accept new transactions if and only if a proportion of nodes in their quorums will also accept the transaction.
As validators across the network construct their quorums, these quorums help nodes to reach consensus about transactions with guarantee on security. You can learn more about the Stellar Consensus Protocol by checking out this technical summary of SCP.
Q4: Shaping a Transparent and Empowered Crypto Ecosystem
At the Killer Whale Network, we are dedicated to fostering trust, security, and transparency within the crypto domain. As we move forward, our focus is on empowering our community with cutting-edge tools and decentralized governance.
Our Next Step
1. Whale Watcher Algorithm
We are developing an innovative algorithm designed to monitor transaction patterns and identify large transfers—commonly known as whale movements—in real time. Key features include:
- Instant community notifications for significant transfers.
- Enabling users to detect and respond to potential pump-and-dump schemes.
This will provide the community with actionable insights, strengthening their ability to navigate market dynamics.
2. Decentralized Governance Model
Imagine a trading ecosystem where the community holds the reins. Our governance model will:
- Allow members to vote on specific trading activities or establish limits on how much influence a single entity can exert on the market.
- Introduce mechanisms to temporarily freeze transactions flagged as risky due to whale activity.
By empowering collective decision-making, this model will play a vital role in curbing manipulative tactics.
3. Transparent Tracking System
Transparency is key to fairness. We aim to implement a tracking system for large trades, ensuring:
- Visibility into whale activities, discouraging unethical practices.
- Smaller investors can make more informed decisions based on accurate market data.
4. Community Fund Pooling
To level the playing field, we are introducing a liquidity fund where smaller traders can combine their resources. This initiative will:
- Reduce the impact of whale sell-offs.
- Give the community greater control over market stability through collective action.
Gamification Features
To make the experience more engaging and rewarding, we are introducing gamified elements:
- Reputation Points System: Users can earn tokens for reporting suspicious activities, with rewards scaled to the accuracy of their reports.
- Voting Mechanism: Members will participate in crucial decisions, such as setting trading limits or freezing transactions during high-risk periods.
