I’m reading about Transaction Managers in
- Introduction to MaidSafe: what it is, how it works, and how it compares to Bitcoin
- Paper: Safecoin : The Decentralised Network Token
but so far there seems to be only a high level description on what they are. I’m interested in how NTM exactly reach consensus.
That as a question:
How does a Network Transaction Manager Reach consensus? i.e. how do the 32 vaults that act as a Transaction manager reach consensus, what does the protocol look like?
Related to 1., the webpage above reads "The only difference with transaction managers is that there is an additional layer of security: there is a 7-group chain; the first group of transaction managers must get permission from another group of 32 nodes, and so on."
2.a So, it’s not only 1 NTM that reaches consensus, it’s 8 (1 + 7) NTM’s that have to reach consensus on a transaction; would that conclusion be correct? If so, back to one, how does the protocol look like?
2.b Would it be possible that one NTM receives confirmation of another NTM, which basically consists of 31 similar nodes (the first NTM) + 1 new node (creating a new NTM)?
In the above paper, an odd being is introduced: Third Party Transaction Validator. What is the role of this entity and where does it come from; is it a vault, too?