Supported by the Paris start-up Consilium, the blockchain protocol will be delivered in final version at the end of January. It uses machine learning to orchestrate the proof of consensus.
In the line of sight, the two partners intend to design a more economical and less energy-consuming environment than the main current blockchain protocols (proof of work, proof of stakes). The main challenge: to propose an alternative to Ethereum. Consilium intends to deliver its technology, currently in beta, in final version by the end of January 2019.
Under the hood, NeuroChain leans on a mechanism called “proof of involvement and integrity”. Aimed at securing and making reliable the chain of blocks, it comes in three layers. The first estimates the weight of the transaction. “Does it represent 10 or 100 euros?”, For example. The second performs a scoring of the actors involved according to their level of activity: the number of transactions they realize (in one direction or the other), the variety of the latter, the diversity of stakeholders with whom they interact , the own level of activity of the latter … Finally, the third layer detects the methods deemed suspicious (duplicate transactions, forks, etc.) to identify “cheaters”.
After Google’s page rank, the rank block
In the end, the whole building is reminiscent of so misunderstanding page rank, the algorithm used by Google to classify its results and eliminate web pages with low score of notoriety, with little audience or little (or no) backlinks, etc. “We are also considering adapting our protocol to the field of search engines in parallel,” says Billal Chouli. To consolidate everything, NeuroChain uses machine learning to refine the scoring progressively, with regard to the history of the chain of blocks.
“NeuroChain can also be deployed to create privateblockchains”
Like Ethereum with its smart contracts, NeuroChain will also be able to set applications to music. To do this, Consilium puts forward the concept of smart app. Based on the IPFS (InterPlanetary File System) distributed file sharing protocol, this environment is based on a meta-algorithm tailored to orchestrate the interactions between the various actors and links in the chain. It has an addressing system, in the form of encrypted digital fingerprints, which, like a URL, provides the path to follow in order to solicit each application.
“Via NeuroChain, a trading software can
The target: the data lineage
NeuroChain is equipped with a meta-algorithm ensuring the traceability of information exchanged from end to end. Hence the main use targeted by Consilium: data governance or data lineage, with the key RGPD compliance. An area that is strategic for many sectors of activity: insurance, banking, logistics, media, retail, public sector … “NeuroChain can also be deployed to create private blockchains,” adds Billal Chouli.
With a staff of 17, Consilium closed last May an ICO for 15,000 ethers, equivalent to about 10 million euros at the time of the operation. At the end of June, the young girl introduced her tokens to Hadax, the world’s third-largest financial market for cryptocurrencies. An operation that allows its investors to speculate on their assets. Once the release of version 1.0 of its protocol delivered in late January, the start-up account to focus on promoting its technology. Its business model: commercialize a range of services and support services for organizations wishing to adopt the solution.