IMesh is our take on an innovative new distributed ledger which is based on a DAG (directed acyclic graph). Even though IMesh doesn’t suffer from the same problems as a Blockchain (e.g. scalability) it is still based on the same underlying principles: it’s still a distributed database, it’s still a P2P Network and it still relies on a consensus and validation mechanism.

The structure of the Mesh is defined by the following concept: Each transaction directly verifies two other transactions and therefore confirms that they are valid and conform to the protocols rules. This directly influences how we reach consensus:
Instead of having PoW (miners) or PoS (stakers) be responsible for the overall consensus the entire network of active participants are directly involved in the approval of transactions. As such, consensus in ADK is no longer decoupled from the transaction making process: it’s an intrinsic part of it, and it’s what enables ADK to scale in an unrivaled fashion without any transaction fees.

This makes it so ADK can operate as an autonomous decentralized and self-regulating p2p network.

The issuing of a transaction in ADK consists of three simple steps:

1. Signing:
First the transaction inputs are signed with your private keys

2. Tip Selection:
Then a Random Walk Monte Carlo algorithm is used to randomly select two tips (i.e. unconfirmed transactions), which will be referenced by your transaction.

3. Proof of Work:
For your transaction to be accepted by the network, you need to do solve a cryptographic puzzle – similar to Hashcash. After all above steps your transaction is broadcast to the network.

After that someone else just has to reference your transaction in the tip selection process and therefore validate it. After that your transaction will be confirmed.

Technical Data:
Total amount: 25.000.000
Premine: No
Mining: No
Technology: IMesh ( DAG )
Application fields: Finance, Internet of Things, Smart contracts