📄️ Decentralized Governance
The eSync Network is built upon the robust Ethereum protocol, a well-established open source blockchain technology. Having been adopted and extended, this technology serves as an ideal foundation for cultivating a rapidly expanding ecosystem.
📄️ Consensus
In its initial stages, the eSync Network adopted the Proof-of-Authority (PoA) consensus mechanism, leveraging its inherent advantages. This strategic choice allows the network to initiate with fewer nodes, minimizing susceptibility to malicious actors. The decision aligns with the core objective of rapidly decentralizing the eSync Network, mitigating single-point-of-failure risks, and solidifying trust in the ecosystem.
📄️ Nodes and Validation
To make the eSync Network secure, its integrity needs to be ensured by different participants, the so-called “node operators”. These node operators implement the PoS consensus method by verifying transactions and keeping the ledger up to date across the network. This is also important for the governance of the eSync Network.
📄️ Gas Fees
Gas fees are being distributed to Validator Nodes as a reward for confirming transactions and providing additional security to the blockchain. As opposed to other blockchain protocols, the transaction fees on the eSync Network are intended as a percentage value instead of an absolute value. However, this is not implemented on the blockchain protocol itself (i.e. on a technical level) but is rather a suggestion to all providers of wallets.