Era Swap (ES)

What is Era Swap?

Era Swap Network (ESN) aims to solve the problems (mentioned in ESN Abstract) faced by Era Swap Ecosystem users by building a Proof of Stake Consensus Protocol (PoS CP) based sideblockchain on top of Ethereum blockchain using the Plasma Framework.

Era Swap Network leverages the Decentralization and Security of Ethereum and the Scalability achieved in the side-chain, which solves the distributed blockchain trilemma for Era Swap Ecosystem.

Era Swap Network consists of Bunches of Blocks of Era Swap Ecosystem Transactions. A miner in ESN produces blocks, and collection of these blocks are selected and a merkle tree is created. The root of the merkle tree is submitted to the ESN Plasma Smart Contract on Ethereum mainnet. This way, all the transactions happening on Era Swap Network are fingerprinted to the Ethereum chain

What is Era Swap DAO?

Era Swap DAO is governed by a set of software rules in smart contracts on Era Swap Blockchain Network. Era Swap DAO is the most complex form of smart contracts where distribution of Newly Released Era Swap Tokens is embedded into the code. Era Swap is an open-source organization that is completely transparent and can be presumed incorruptible

Era Swap DAO uses the consensus mechanism to align the interests of the organization with the interests of its stakeholder. Here, the Interests of the participating members i.e. Stakeholders of TimeAlly are aligned to DAO reward rules to claim Era Swap native token. To approve proposals, stakeholders should vote to reach the majority of 66% consensus in Era Swap DAO. Every transaction record & rule has been secured on Era Swap Network. Era Swap DAO is free to adopt.

Development Overview

Initially, a simple Proof-of-Authority (PoA) based consensus of EVM starts the development and testing of Era Swap Ecosystem Smart Contracts, as quickly as possible on the test-net. Era Swap will call this as an alpharelease of ESN test-net and only internal developers will work with this for developing smart contracts for Era Swap Ecosystem. User’s funds in a Plasma implementation with a simple consensus like PoA are still secured as already committed bunch-roots cannot be reversed.

Eventually, Era Swap wants to arrive on a more control-decentralized consensus algorithm like Proof-of-Stake (PoS) probably, so that even if the chain operator shuts down their services, a single Era Swap Ecosystem user somewhere in the world can keep the ecosystem alive by running software on their system and similarly more people can join to decentralize the control further. After achieving such an implementation, Era Swap will release this as a beta version to the community for testing the software on their computers with Kovan ERC20 Era Swaps (Ethereum test-net).

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