Yellow Paper

Introduction

The evolution of Blockchain has opened doors for research and development in this ¬eld. Since Satoshi Nakamoto’s introduction of Bitcoin back in 2008 the world of technology changed completely. It gave the world a new advanced technology to explore. Blockchain system has evolved, from solving problems to keeping up with future development, the cycle has not ceased. The reason it has become a huge success lies in the nature of this system, where it is consensus based and works without intervention of any authority. Blockchain records data that is immutable, which is encrypted and given a unique hash. The hash of the previous block is connected to the hash of the new block. To solve the hash and add further data on the blockchain a consensus is reached among the nodes that are connected. Consensus protocols still have to face many problems and their latest solutions have also become a problem. POW, POS and DPOS have still failed to provide a solution for Byzantine General problem and double-spending. Libonomy Blockchain is one of its kind blockchain systems that will use Arti¬ficial Intelligence at its core, with dynamic threshold, utilizing all the benefi¬ts of POW, POS and DPOS and introducing a whole new system which is much more transparent, decentralized, fast and robust.