About - Berylbit

What is Berylbit

Welcome to Berylbit Documentation This document serves as the introduction to Berylbit, how it works and how you can get started with development for the Berylbit blockchain. It serves as an overview of the technical fundamentals, how the network works and what its intended purpose is. The project is currently closed source as development is ongoing. This document will be updated in the future to reflect any changes to the licensing or functioning of the chain.

A blockchain is a publicly stored and shared chronographic record of transactions and state changes within a typically decentralized network of computers. It is called a blockchain because it consists of a string of packets of data called "blocks". As transactions and state changes are made on the chain, they are digitally signed and forwarded to the network for verification. A public ledger, or "bookkeeper" node will pick this data up and verify it according to a strict set of rules that form the basis for the entire blockchain, if the transaction is valid, it will then forward this to the transaction pool and send copies of the transaction to other peers in the network. periodically, mining nodes will pick up these transaction lists and create "candidate blocks". They will then add the cryptographic hash from the previous block to the current candidate block header. From this point on, there will be a race to hash the new candidate blocks and achieve a "nonce" that is less than the hash of the previous block. In other words, the new hash must be smaller than the previous hash, but it must still be a valid hash. This is where difficulty levels come into play. The more hashes that are mined as time goes on, the harder it becomes to find new hashes for the verification of new blocks. As such, miners are rewarded for their efforts. The hashing of the new candidate blocks is typically achieved by brute-forcing, and trial and error. But calculating many trillions of hashes, eventually, a matching hash will be found, validating the block. Once this happens, the block is broadcasted to the network for other nodes to check its validity, and the winning miner collects their BRB reward, with BRB being the main gas token of the Berylbit network. Validated blocks that have reached consensus across the network are then added to the chain of previously validated blocks, and then the process begins all over again. This is where the term "blockchain" comes from. What is important to note, is that all blocks are validated according to a strict ruleset and agreed upon by every node in the network, thus the data is decentralized and immutable, so long as the network exists, the data exists in a forever tamperproof and publicly accessible state.

BRB is the main gas token that the Berylbit network runs on. It is the token that is used to reward block miners and to pay for the facilitation of transactions and contract deployments on the network. people using the network can either use BRB as a currency or use it to pay the gas fee for sending other currencies or contracts across the network. All computational actions on the network must be computed or "mined" and as such, the payment for the miners to carry out these functions is a BRB reward. Therefore BRB is an essential component of the Berybit chain, without it, the network would cease to exist. BRB functions similarly to ETH in this regard.

Dapps are decentralized applications, where the code to run the app is running on the Berybit network instead of on a centralized server. They are fundamentally similar to any app you might use on a mobile device or a computer and can serve many functions. the difference is that the backend resides on the chain in the form of smart contracts. Every interaction is validated, mined, and publicly recorded. Facilitating unrivaled security, immutability, and permanence. No one entity can change or tamper with the data or functioning of the Dapp, they can only interact with what is already deployed to the network. Dapps can be used to power a variety of secure on-chain and off-chain utilities. A Dapp can have frontend code and user interfaces written in any language (just like an app) to make calls to its backend. Furthermore, its front end can get hosted on decentralized storage such as IPFS. Decentralized - Dapps operate on Ethereum, an open public decentralized platform where no one person or group has control Deterministic - Dapps perform the same function irrespective of the environment in which they get executed Turing complete - Dapps can perform any action given the required resources Isolated - Dapps are executed in a virtual environment known as Ethereum Virtual Machine so that if the smart contract has a bug, it won’t hamper the normal functioning of the blockchain network

Smart contracts can be thought of like programs that run on the network. They are sandboxed, meaning they cannot ever interfere with other contracts or influence them in any way, unless they are designed to interact with each other using signed transactions or signed messages. with respect to this, the Berybit network can be thought of as the computer in which the programs or “smart contracts” actually run. It is very important to test each smart contract thoroughly before deployment to the blockchain, as once deployed the contract is now immutable and cannot be changed. This is where the term "Contract" comes from.

Benefits of Dapp deployment  Zero downtime – Once a contract is deployed to the blockchain, it will always be available for clients to interact with so long as the network exists.  Privacy – You don't need to provide a real-world identity to deploy or interact with a Dapp.  Resistance to censorship – No single entity on the network can block users from submitting transactions, deploying Dapps, or reading data from the blockchain.  Complete data integrity – Data stored on the blockchain is immutable and indisputable, thanks to cryptographic primitives. Malicious actors cannot forge transactions or other data that has already been made public.  Trustless computation/verifiable behavior – Smart contracts can be analyzed and are guaranteed to execute in predictable ways, without the need to trust a central authority. This is not true in traditional models; for example, when we use online banking systems, we must trust that financial institutions will not misuse our financial data, tamper with records, or get hacked.

Drawbacks of Dapp deployment  Maintenance – Dapps can be harder to maintain because the code and data published to the blockchain are harder to modify. It’s hard for developers to make updates to their Dapps (or the underlying data stored by a Dapp) once they are deployed, even if bugs or security risks are identified in an old version.  Performance overhead – There is a huge performance overhead, and scaling is hard. To achieve the level of security, integrity, transparency, and reliability that Ethereum aspires to, every node runs and stores every transaction. On top of this, proof-of-work takes time as well. A back-of-the-envelope calculation puts the overhead at something like 1,000,000x that of standard computation currently.  Network congestion – When one Dapp uses too many computational resources, the entire network gets backed up. Currently, the network can only process about 10-15 transactions per second; if transactions are being sent in faster than this, the pool of unconfirmed transactions can quickly balloon.  User experience – It may be harder to engineer user-friendly experiences because the average end-user might find it too difficult to set up a tool stack necessary to interact with the blockchain in a truly secure fashion.  Centralization – User-friendly and developer-friendly solutions built on top of the base layer of Ethereum might end up looking like centralized services anyways. For example, such services may store keys or other sensitive information server-side, serve a frontend using a centralized server, or run important business logic on a centralized server before writing to the blockchain. Centralization eliminates many (if not all) of the advantages of blockchain over the traditional model.

BerylBit and other blockchains Introduction So far we have covered the very basics of what a block is and how it works, generally, they all follow the same principles of operation with a few small but important differences. BerylBit is derived from Ethereum, and as such it shares many of the same features, such as smart contracts, decentralized computing, immutability, and self-governance as well as the same wide choice of development environments.

Scalability Like most blockchains, Ethereum is provided "as is", with its core fundamentals in place and a free environment to develop and launch projects within. The biggest issue facing the network at the moment is the proliferation of scams. the Ethereum network, as well as Binance Smart Chain, Polygon, and many others are saturated with cash grab scams. The networks themselves do not include inherent regulation and serve to provide nothing more than a secure framework in which almost anything can be deployed. This issue makes up a huge amount of traffic on these networks, reducing throughput and driving up operating costs, reflected in the “gas price” per transaction, as well as the waiting times for a transaction to be accepted and confirmed. This introduces unnecessary costs to investors or users of the network and can cause issues such as rejected transactions, which can sometimes be very costly to the person initiating the transaction. This issue is what is referred to as the networks “scalability” Where BerylBit is different, is in the way it introduces rules to this core compute platform that comprises the Ethereum network. The BerylBit network introduces a set of rules that contracts on the network must abide by, or else they will fail to operate. These rules are designed to stop the proliferation of junk traffic and scams on the network, drastically reducing its operating cost and boosting its overall performance. BerylBit is an inherently more efficient network, as it is designed to deter junk traffic.

Layer 1 vs layer 2 A layer one blockchain can be thought of as the fundamental chain on which everything else runs on top. The Ethereum network is a layer 1 blockchain, as are Bitcoin and Litecoin. A layer 2 blockchain is a second chain running on top of the L1 chain, which usually attempts to manage traffic and resources on the L1. This is usually considered within the topic of scalability. Where BerylBit differs is that it provides both a Layer 1 and a Layer 2 blockchain in one. Users can access the L2 chain only, which manages the transactions seamlessly and is confined to the parameters set out by BerylBit developers. Transactions that conform with the Berylbit specification and then executed on the L1 chain. A contract can never interact with the L1 chain directly as the transaction would not be signed correctly and would then be rejected at the public ledger node. This allows the BerylBit network to automatically block functions typically used to scam people. For example, a contract could not be deployed that contained a function to disallow the selling of an asset. A Remove liquidity function call would also be rejected by the network, ensuring that investors cant be rug pulled. This removes the need for laypeople to have to wade through complex and often obfuscated code to tell if they can be scammed or not.

Rules The unique feature of the BerylBit network is in the way it filters transaction types and compares them against a set of conditions to determine if they are likely being used to steal from investors or not. This ruleset is currently in development and this document will be updated as time goes on to describe in more granularity how this is achieved. One of the benefits of using this hybrid L1/2 approach is that many extra features can be included, such as privacy. Since transactions are validated on the L2 before being committed to the L1, it is possible to scramble identifying information before it is made publicly accessible on-chain. This allows users of the BerylBit network to enjoy both a private decentralized network and to be protected from malicious entities and scammers. Of course, fighting scammers is an arms race, and the Berylbit team will be working on this likely in perpetuity, constantly making the network more robust and safe. Being able to work between L1 and L2 in such a manner allows backward compatibility with contracts deployed under an old ruleset without hard forking the chain.

Compatibility with Existing Networks Since Berylbit is forked from several chains, most notably the Ethereum network, it functions in a very similar way from a development perspective. Developers used to create Dapps and smart contracts for other chains will be very familiar with the development process for BerylBit. Allowing them to use the same skills and tools they are used to using, which includes a variety of programming languages such as Solidity, RUST, javascript, ETC. The options are nearly limitless.