Node Transaction Bundle (NTB) – (updated to Node Block Triple)
What does Node Transaction Bundle (NTB) – (updated to Node Block Triple) mean?
As the node prepares to validate a block, its first step is to bundle together all the transactions it has received from users into a Node Transaction Bundle, sign it, and then send it to the hub.
Main Idea
In a blockchain network, an end user contacts an active node in order to send data in the form of a transaction. All valid transactions should end up in the appropriate block of the blockchain.
Note: The term Node Transaction Bundle (NTB) was referred to in older articles and has been retired. The concepts have been retained and are implemented in the Node Block Triple, which contains the Node Content Statement, Node Transaction List, and Node Payload List.
For updated information, please go to the new glossary entry for the Node Block Triple.
The old entry follows in its entirety:
The First Step for a Validating Node
The first step for each validating node* is to collect all the transactions that users have submitted to it in time for the current block. These candidate transactions are called Unverified User Transactions (UUTs).
The node may be receiving UUTs from users continuously. UUTs that arrive too late for the block in progress are held by the node for the next block.
The Second Step for a Validating Node
For each block, a validating node checks the UUTs for sanity, bundles the UUTs that pass the sanity check together into its own Node Transaction Block (NTB), signs it, and sends it to the current hub.
The Significance of the NTB
The requirement that each node must independently submit its own cryptographically signed Node Transaction Bundle before validation for the block has begun, is an innovation in Geeq’s Proof of Honesty. It is the first step for Geeq’s deterministic, leaderless, and completely decentralized validation process.
Used in a Sentence
Geeq lowers the cost of blockchain validation because it is much cheaper for each validating node to communicate its Node Transaction Bundle (NTB) to the hub in its hub and spoke network rather than send messages through a large gossip network.
*This is a simplified, conceptually accurate description of the workflow logic.
Last Updated: July 8, 2023
Read what Geeq has to say about Node Transaction Bundle (NTB) – (updated to Node Block Triple)...
The following articles are written by the Geeq team to share and inform about the industry we are passionate about.
To learn more about events, announcements and learn about other topics visit our news section
Community announcement - Tokenomics Update - January 2024
Why has Geeq taken a no-smart contracts route? To deliver an efficient, reliable, predictable engine to solve these three problems and more.
Choose Geeq as your favorite to win "Best in Class". Here are 5 reasons why Geeq is poised to set the world's standards in blockchain.
8 Ways Geeq is the Essential Foundation for Blockchains. Here are the reasons Geeq provides the Layer 0 (L0) foundation that blockchains and smart contracts need.
UPDATE: Now with links to video and Slides! John P. Conley introduced Geeq's Algorithmic Monetary Policy and Stabilized Token to the public at SFBW.
This is the Geeq token allocation and release schedule. Please note: Geeq did not hold an ICO or IDO.
Ask Me Anything on Telegram: TH 1/24/2019, 4 pm EST
Details are available for the official GEEQ contract address.
$GEEQ has partnered with Ferrum Network to offer non-custodial liquidity staking. Watch this space!
Late Friday Update for Geeq Tokens - The Unlocked-round is fully subscribed. The Pre-round is still OPEN.
April highlights: encryption upgrade, chain state view for chain hash proofs.
Geeq introduces the counterparty NFT, which requires both parties' signatures before there is a transfer of the asset's deed. This reduces risk.