This section sheds light on the technicals of different products and services that we offer. The purpose is to explain how different blocks of the ecosystem will be connected to serve the entire feasibility.
We are developing an EVM-compatible L1 blockchain called the “Dione Protocol” and the core architecture will be based on the principles of Avalanche, because it is a proven technology with a highly modular architecture and a keen focus on resilience and scalability.
We will introduce a few architectural changes to serve the energy trading use cases and collectively, our mainnet will have the following benefits over the competitors.
- 1.Higher throughput
We are achieving a higher degree of throughput by allowing more than 5,000 transactions per second without compromising the security or decentralization of the network. This number is on the L1 chain currently and can increase significantly if scaling solutions are integrated.
Gradually, we will introduce updated validator configurations as well, enabling us to enhance the throughput even further.
The other reasons enabling us to reach higher TPS are subnets, near-instant finality, optimized code, and a unique consensus mechanism (if compared with Bitcoin and Ethereum). These are explained further in this document.
- 2.Enhanced scalability
We can scale to hundreds and thousands of nodes without compromising any other crucial aspect of the network.
We do not use a delegation mechanism as that may compromise the security of the network. Instead, every node is entitled to have the same “weightage” in the system.
- 3.Better data privacy
Ultimately, we will opt for a multi-chain hybrid architecture. It implies that while the primary network (i.e. the L1 blockchain) will be permissionless and host all the public data, we will form an L0 communication chain as well with “virtual channels” or “containers” to store private data under strict access control. This data will not be accessible by anyone outside the channel for data privacy and security purposes, however, the hash of the data will be shared on the public chain with metadata only.
- 4.Enhanced transaction security
To have better transaction security, it is important to have as little time to reach finality as possible. Therefore, for every transaction, the network can reach finality in around a second and once the result is committed to the chain, it becomes irreversible.
This is further enhanced by eliminating the longest-chain rule from our consensus.
It is also worth mentioning that, unlike several popular blockchains, we validate all transactions as part of the consensus mechanism.
- 5.Lower transaction fee
The transaction fee will automatically be reduced when the throughput of the network is increased and the scalability is enhanced. We will also use a variable fee mechanism to ensure when the network congestion is low, the network charges transaction fees accordingly.
However, it should be noted that to keep the network functional and every validator incentivized, we have to maintain a balance between the two factors (mentioned below) and ensure we are being fair to both parties:
- How much we can benefit the sender by lowering the fee
- How much we can incentivize the validators
- 6.A friendly explorer
Explorers have never received special attention from the blockchain community and we want to transform the user experience around this as well. Apart from all the mainstream functionalities offered by the popular explorers, we will enable more tags and categorizations that will allow the viewers to filter the wallets belonging to suppliers, consumers, distributors, marketing, liquidity, treasury, etc.
To facilitate our consumers, we will also launch a Green Certificate program, that would enable everyone to publicly verify the certifications issued to energy providers. The certificates will also be visible on Nebra (our energy trading marketplace).
It will be an utterly simple yet powerful explorer!
- 7.Lower carbon footprint
Since we are using the Proof of Stake consensus, our carbon footprint will be lower than several mainstream blockchain networks. Additionally, we will also introduce a policy allowing the node operators to earn extra rewards by simply running their nodes using renewable energy, thus creating an ecosystem that is entirely powered by green energy.
Note: After the launch of the Dione Protocol, all of the Dione ERC20 tokens will be consolidated and moved to our mainnet while preserving the dollar value of the wallet at the time of migration.