Security

Ethereum paved the way for a new ecosystem of decentralized applications. Eventually, when these applications reach a certain level of use, it may no longer be interesting to maintain their structure within another blockchain and these projects end up migrating to creating their own blockchain. Other projects simply cannot afford to keep only one decentralized token, they need their own blockchain to develop their project due to the technological limitations of smartcontracs. In fact, in recent years, more and more blockchains have been suggested and continue to emerge for the most diverse niches and with different functionalities. Each blockchain has its value, has its niche and has the functionalities to try to achieve its goals.

Blockchain security can be defined by the decentralization of the full-nodes (server that hosts the complete blockchain system), decentralization of the main blockchain currency, number of users and projects on the platform and energy consumption through some proof-of-work algorithm. These requirements In most of the more than 10,000 existing blockchains, none of the requirements are present. Only the main blockchains on the market manage to achieve a high degree of security due to the degree of use of their networks and nothing prevents their use from falling and or increasing. The top blockchains of today may not be among the best of tomorrow. Regardless of its type of consensus algorithm (Algorithm responsible for ensuring the immutability of the blockchain), its security is proportional to the decentralization and popularity of the project in general.

Bywise bases its security on a system that connects to the main existing networks and uses the security of several networks added together to create the most secure network ever created. This process is called Proof of Immutability.