EVEN Network innovations

Fundamental EVEN Network technologies

The EVEN Network’s architecture consists of three sub-networks or layers, each of which has its own function:

  1. Graph Layer: execution and storage of transactions and smart contracts;
  2. SoDA Layer: distributed storage and management of digital assets from various external blockchains, providing cross-chain exchange operations for digital assets;
  3. Application Layer: a working layer for storing and executing decentralized apps, as well as the necessary infrastructure.

Cross-Chain Interaction Protocol (CIP)

The Cross-Chain Interaction Protocol (CIP) performs transfers and the decentralized cross-chain exchange of any digital assets.

The Cross-Chain Interaction Protocol (CIP) is the original version of interaction among processes for the exchange of digital assets in a decentralized environment when the assets involved are located and/or running on two or more different blockchain networks.

External blockchain networks (Bitcoin, Ethereum, etc.) connect to the network’s Application Layer via Bridges, which are both nodes in external blockchains and parts of the EVEN Network.

The Cross-Chain Interaction Protocol (CIP) algorithm for process organization allows cross-chain exchanges of digital assets to be carried out in four different ways:

  1. Directly via Safe of Digital Assets (SoDA)-type storage of digital assets. This model is known as Exchange through Safe of Digital Assets (E-SoDA).
  2. Via a multi-signature wallet. This model is known as Exchange through Multi-Signature Wallet (E-MultiSig).
  3. By means of an insurance deposit that underwrites the user’s intention to make the transaction. This model is known as Exchange through Insurance (E-Insurance).
  4. By executing atomic swaps (SWAP) using Lightning Network technology.

Each technology used in the Cross-Chain Interaction Protocol (CIP) represents an independent form of business logic and provides different technical possibilities and functions for the operation of the EVEN Network. The combination of different technologies makes it possible to fulfill a variety of payment tasks and perform a broad spectrum of different financial operations.

The Cross-Chain Interaction Protocol (CIP) will have an open API, which will allow third-party developers to use EVEN Network technology in external services and apps.

Safe of Digital Assets (SoDA)

For working with diverse blockchain protocols the cross-chain operations layer will use Safe of Digital Assets (SoDA) conceptual storage.

This is distributed storage for digital assets operating under the Cross-Chain Interaction Protocol (CIP). This storage solution makes it possible to securely store cryptocurrencies and digital assets and carry out cross-chain exchanges. The cross-chain operations layers are simultaneously part of the EVEN Network infrastructure and blockchain nodes on other networks. These nodes can be compared to a network of centralized cryptocurrency exchanges, each of which supports one or more specialized (native) wallets on different blockchains and performs cross-chain operations according to a single set of rules.

Rated DAG

Rated DAG is a directed acyclic graph that takes nodes’ ratings into account. The algorithm is a quasi-determined asynchronous Byzantine fault tolerance (aBFT) protocol with a choice of leaders based on a rating with regard to disseminating information to the network at the moment the consensus is computed. The algorithm uses the memory of the network state and the transaction dissemination history.

The Rated DAG algorithm is horizontally scalable, so as the number of network participants rises, the number of transactions will also rise in direct proportion to the growth of the EVEN Network. The important factor is transaction processing time which is up to 3.5 seconds.

The algorithm works in an untrusted environment on the condition that at least two thirds of network participants broadcasting transactions are trusted. Rated DAG does not use Proof-of-Work and does not form a blockchain in the usual sense. This means that all productivity is directed to transmitting data within the network. At the same time, confirmation of transactions depends on a reverse analysis of the history back to the initiator, which makes the system more effective when compared to first-generation blockchains.

Cross-chain Smart-contracts

The core purpose of the EVEN Network is to support interaction with external blockchain platforms, which means that it will be possible to manage not just transactions, but also smart contracts on other blockchain networks.

Cross-chain smart contracts will define the request hierarchy and execution conditions of smart contracts on various blockchain platforms, acting as a router.

The EVEN Network makes it possible to store external blockchain platforms’ smart contracts within the Graph Layer and execute them using Bridges as points of contact into the external systems.

Commissions for executing smart contracts on external platforms will only be charged on external blockchains. There are no plans to charge commissions within the EVEN platform. The platform will also feature a library of standard and tested smart contracts (templates) for external blockchain platforms that can be used via the API to create either light or full smart contracts. The library of smart contract templates will be added to by the community.

Our partners
The University of Blockchain & Investing Master Ventures Blockchain Forum BBay Token Fundation Linkbox Foundation