Constellation Networks Hypergraph Hour Episode 3: A Deep Dive
In the third episode of Constellation Networks’ Hypergraph Hour, the team delves into a variety of topics, ranging from the intricacies of state channels to the future of decentralized finance (DeFi). The discussion is led by Benjamin Diggles, Wyatt Meldman-Floch, and Matthias Goldman, who provide insights into the technical aspects of Constellation’s technology and its potential applications.
State Channels and the Hypergraph
One of the key topics discussed in the episode is the concept of state channels and their role in the Constellation Hypergraph. Goldman explains that state channels are essentially a network on the Hypergraph, contributing resources to the entire DAG Hypergraph network. This has significant implications for governance, as it allows entities like Lattice to govern their own set of state channel nodes while contributing to the overall network.
The team also discusses the interaction between different tokens within these networks. They hint at an upcoming tokenomics paper that will explore how different values and exchanges of these values interact within the network. This is particularly relevant as most existing tokenomics models are based on traditional consensus mechanisms like proof of work or proof of stake. Constellation’s novel consensus mechanism, however, requires a redefinition of how value generation is tied into the token model.
Lattice and DeFi
The team also discusses the role of Lattice, Constellation’s DeFi platform, in the broader ecosystem. They explain that Lattice is essentially a state channel on the Hypergraph, contributing to the overall network while being governed by its own rules. This allows Lattice to operate as its own entity while still being part of the larger Constellation ecosystem.
The team also touches on the complexity of implementing features like limit and stop orders on a decentralized exchange. They note that while these features are common in centralized exchanges, implementing them on a decentralized platform like Lattice is a complex task due to the need for on-chain data.
Looking ahead, the team discusses their plans for the future, including partnerships in the payment processing space and the development of proprietary liquidity pools. They also hint at the potential for state channels to adapt and change based on real data input, suggesting a form of basic self-awareness within the network.
The team also discusses their plans for community engagement in 2021, with a focus on deploying more state channels and developing more content to help onboard people and build on the network. They also hint at plans to work with the Stardust Collective to create educational materials and distribute information about Constellation.
In conclusion, the third episode of Constellation Networks’ Hypergraph Hour provides a deep dive into the technical aspects of Constellation’s technology and its potential applications. The team’s discussion offers valuable insights into the future of DeFi and the role of state channels in the Constellation ecosystem.