The Tipset Of Filecoin: An Efficient Way To Increase Throughput
A tipset is a collection of blocks that make up a blockchain. A tipset is a phrase that mostly refers to the blockchain of the decentralized storage system Filecoin. Filecoin’s consensus method is based on tipsets since its Expected Consensus system is election-based and enables many miners to be chosen leaders in a round, unlike Bitcoin.
This means that Filecoin (or another comparable storage system) allows several storage miners to generate blocks in a single epoch, increasing network performance. The use of tipsets in a blockchain can also help to secure the network: because each tipset‘s weight is proportional to the amount of storage it offers, any node that seeks to disrupt the formation of valid blocks must compete with the consensus’ inclination for heavier chains.
Filecoin’s Tipset Mechanism
Filecoin‘s tipset mechanism is similar to Ethereum‘s in that it encourages members to participate and prevents work from being wasted by increasing chain throughput.
The benefits of employing a tipset system include that miners will band together to promote the heaviest chain or the chain that is producing value – this is due to the fact that decentralized storage systems inherently favour chains that offer more storage. Lighter chain tipsets become orphan blocks because they lack the pull of increased storing power.
How does the Tipset Work in Filecoin?
Since Expected Consensus elects several leaders in each epoch, a Filecoin chain may include zero or numerous blocks at each epoch (one per elected miner). Tipsets are made up of blocks from the same period. By processing all messages in a tipset, the VM Interpreter alters the Filecoin state tree (after the de-duplication of identical messages included in more than one block).
Each block refers to a parent tipset and validates its status while also suggesting messages to include for the current epoch. The state to which the messages of a new block apply is unknown until that block is included in a tipset. As a result, executing the messages from a single block in isolation is meaningless.