The EVEN team pursues several goals by this project. As a result of the project, we want to create a blockchain platform with characteristics that are in demand in the market. We focus on logistics, finance, IoT, and mass-market products. Potential use cases for the blockchain platform: real estate tokenization, consumer protection, distributed file storage, custom tokens with a fast exchange rate, cross-platform interaction with other blockchains.
We started working on the platform at the end of 2017 and released its first version in mid-2019. A fully decentralized peer-to-peer network was created. The client software consists of a node (network node) and a wallet. To become a member of the network, it is enough to install the lightweight client software on a computer running Windows, Linux, or macOS.
This network has several features that distinguish it from most other blockchain projects.
1. Derivative multicurrency wallet. It allows you to use one pair of keys for transactions with several types of cryptocurrencies. We integrated the wallet with Bitcoin, Litecoin, and Ethereum. It is possible to add 80% of the existing blockchains to the ecosystem of this wallet. The only requirement for them is the use of an elliptic curve as a cryptographic signature algorithm.
In the next release, we set a goal to create our transport network. In 2020, we began to develop the transport layer and continue to develop it. To get rid of the issues, we made many changes to the platform architecture.
In particular, we introduced sorting nodes that create blocks of transactions and send them to the network. Because network participants still sign transactions, it is not possible to counterfeit the network. We also developed mechanisms to trace the publication of all transactions that came from the network. So, the network is protected from the risks associated with centralization.
In the second release, we included Turing-complete smart contracts, which are tools for solving any computable problem. This feature distinguishes the EVEN platform from blockchains like Ethereum and Bitcoin.
In the fall of 2020, we tested the second release of the network. With the new architecture, the platform has become more stable and faster, allowing 2000-3000 transactions per second.
Today we continue to develop the platform and are ready to demonstrate it. We no longer publish the platform code in open sources.
2. The ability to store on the network not only object hashes but also the objects themselves, including large files. Hashes are used as addresses of files on the network. This allows you to protect your files from edits.
3. The consensus algorithm does not require significant resources and allows to carry out transactions fast. The network reached a speed of several hundred transactions per second.
1. transactions with the internal currency of the network;
2. transactions with Bitcoin, Litecoin, and Ethereum;
3. transfer of any files on the network.
In the first release, we achieved a speed of 150-300 transactions per second. To increase the speed, we decided to revise the storage and transport systems in the next release. So we had to dismiss the idea of using OrbitDB and IPFS.