Subgraph Manifest is a proposed new blockchain protocol that seeks to improve the scalability, privacy and security of existing blockchain networks. It was first proposed by Vitalik Buterin in 2017 as an alternative to Ethereum’s current consensus mechanism, Proof-of-Work (PoW). The Subgraph Manifest proposes a more decentralized and efficient system for verifying transactions on the blockchain.
The Subgraph Manifest is based on directed acyclic graph (DAG) technology which allows multiple nodes to process transactions simultaneously without conflicting with each other. This approach not only helps increase transaction throughput but also provides improved scalability and privacy compared to traditional blockchains. Additionally, its distributed architecture ensures better resistance against malicious attacks such as double spending or 51% attack.
Under this protocol, users can define their own rulesets for validating blocks instead of relying solely on miners or designated authorities. This enables users to customize their network according to their needs while ensuring that all participants abide by the same set of rules. Furthermore, DAG technology allows for lower fees since there are fewer intermediary nodes required for processing transactions compared to PoW networks like Bitcoin and Ethereum.
In conclusion, the Subgraph Manifest has potential applications across different industries including finance, healthcare and supply chain management due to its increased levels of transparency, scalability and security enabled by DAG technology . It could become an essential part of future blockchains if properly implemented within existing protocols like Ethereum or Bitcoin Cash .
