Features and Benefits
A metagraph functions as an independent network that converges with the Hypergraph's Global Layer 0 (L0). Each metagraph operates as a subnet of the Global L0, equipped with its own business logic, technical infrastructure, and consensus model. Collectively, metagraphs form a distributed network capable of handling large-scale data in various real-world contexts. Metagraphs can be thought of as microservices or application-specific DLTs within the ecosystem.
The Hypergraph network employs a generative economic system wherein all participants benefit from the success of individual nodes and metagraphs. As a result, the network's security, throughput, and economic growth are collectively greater than the sum of its individual components. By fostering a collaborative environment, the Hypergraph network empowers developers to create innovative solutions that leverage the unique capabilities of metagraphs and contribute to the network's overall success.
Metagraphs vs Smart Contracts
| Metagraphs | Smart Contracts |
|---|---|
| Free to define their own business logic, rewards, and metrics | Bound into an economic relationship with their blockchain (e.g. Ethereum) |
| They define their own custom parameters and can execute complex logic | Execute logic in a limited context based on pre-set conditions |
| They solve the oracle problem by validating data itself directly from real-world sources | They require an oracle to validate information from the real world |
| Able to process arbitrary data from multiple blockchains or any data sources | Limited to specific blockchains from which they emanate |
| Allows validation of multiple data types simultaneously due to HGTP’s horizontal data architecture | Slow and bottlenecked because of their built-in limitation on blockchain networks |
Interoperability
Metagraphs possess the capability to accept, process, and validate third-party data from a variety of real-world sources. Examples of these data sources include vehicles, consumer electronics devices, temperature sensors, advertising exchanges, financial exchanges, and other blockchains. By acting upon triggers from these sources, metagraphs facilitate efficient data processing and decision-making.
Developers can seamlessly integrate metagraphs into both legacy and modern applications, enabling end-to-end security and frictionless deployment. The inherent interoperability of metagraphs establishes a smooth bridge for centralized systems looking to transition or incorporate decentralized elements into their business models.
Additionally, metagraphs have the ability to accept, process, and validate data from other blockchains, such as Ethereum. This flexibility allows developers to leverage the power of metagraphs to create interoperable applications that interact with various blockchains and data sources, further expanding the potential use cases for decentralized solutions within the Constellation Network ecosystem.
Extreme Scalability and Speed
The Hypergraph enables nearly-infinite horizontal scalability of the network, which enables metagraphs to use the bandwidth to run complex operations of huge sets of data in order to implement business logic specific to their needs. This also enables metagraphs to provide fast and cost-efficient transactions, ensuring that users do not have to wait for long periods of time or pay high gas fees in order to complete their transactions.
Custom Consensus Mechanisms
One of the most powerful features that Hypergraph provides metagraphs is the ability to define custom consensus mechanisms. This enables them to validate real-world data and implement complex business logic in a secure context. This is impossible on any other blockchain solution currently available on the market.
Metagraph Token Standard
Metagraphs can mint their own tokens following the Metagraph Token Standard. Metagraph tokens follow a standardized interface that allows their token economies to connect to the Global L0 network and fosters interoperability between metagraph networks. Read more about Metagraph Tokens.
The Oracle Problem
Data oracles play a crucial role in bridging the gap between blockchain networks and the real world. They offer on-chain APIs designed to facilitate the transmission of real-world data to and from smart contracts or other on-chain services. However, these oracles rely on off-chain data sources to feed information into the blockchain. As a result, they may be exposed to issues concerning the integrity, validity, and security of the data involved. Moreover, they are vulnerable to potential attacks by hackers who can manipulate the behavior of smart contracts by controlling the underlying data. This predicament is commonly known as the Oracle Problem.
The Hypergraph network addresses this challenge by enabling seamless interoperability and data exchange between metagraphs while orchestrating complex validation logic throughout the consensus process, from the data's origin to its destination. This approach effectively resolves the Oracle Problem, allowing for the validation of the state of external off-chain data at its source before incorporating it on-chain. By leveraging the Hypergraph network's capabilities, developers can create secure and reliable applications that efficiently access and process real-world data on-chain.