AVOUM - Account View On UTXO Model
Our innovative AVOUM (Account View On UTXO Model) technology can enhance your existing or future Blockchains to combine the best of UTXO and Account models:
- UTXOs make it easy to check past transactions in parallel, making it simpler and faster to add new full nodes (in hours or days rather than weeks or months), significantly increasing the security of the blockchain.
- Accounts enable users to concurrently queue many future transactions on a same smart contract, allowing for a much richer contract ecosystem.
Public smart contracts, which any user can join or leave at any time, are at the heart of most projects that made DeFi (Decentralized Finance) successful (e.g. Automated Market Maker contracts such as Uniswap). But these public smart contracts are currently only available on blockchains using the Account model, or by resorting to centralized “sequencers” on blockchains using the UTXO model, thereby losing the decentralization.
AVOUM combines the UTXO model for past transactions with an Account view for future transactions. AVOUM works by encoding public smart contracts with intentionally malleable transactions. Each such transaction comes with an accompanying malleation scripts with which miners can automatically rebase the transaction on top of the latest contract state UTXOs.
We at MuKn can port AVOUM to your Blockchain, so it will be noticeably better than competing blockchains that lack the technology.
- Porting AVOUM to your UTXO blockchain only involves a relatively simple change to your UTXO’s “mempool” protocol, without any change to the consensus protocol itself.
- Porting AVOUM to your Account blockchain is also possible, though it will require deeper changes to your consensus protocol itself.