Enterprise Consortia Chain
An Enterprise Consortia Chain - ECC is Dijets ‘Blockchain-as-a-Service’ solution. With limited blockspace and demand for blockchain solutions rising, ECCs are Dijets proposed solution to the problem.
Instead of forcing all transactions to take place on a single, shared state, ECCs allow organisations to launch their own blockchains – with tailor made rulesets which not only creates more blockspace and computation to meet demand but also lets the businesses decide how to customize various aspects of the underlying chains.
All ECCs are sovereign networks which define their own rules regarding its memberships and token economics. These rulesets are what differentiates one ECC from another. For example: ECC(A) can decide to implement features like sending gas fees to a treasury smart contract and ECC(B) can require all users of its chain to pass through KYC before they can interact with any of its applications.
Similarly ECCs can deploy a permissioned blockchain, unlocking use cases for more traditional institutions.
Each ECC is composed of a dynamic subset of validators working together to achieve consensus on the state of one or more blockchains. Each blockchain is validated by exactly one ECC, and each ECC can have multiple blockchains.
ECCs are independent, they specify their own execution logic, determine their own fee regime, maintain their own state, facilitate their own networking, and provide their own security. They don’t share execution thread, storage or networking with any other ECCs including Dijets Network. This allows organisations to scale up their network easily all the while enabling lower latency and higher transactions per second (TPS).
As an ECC manages its own membership, it can create its own token economics and membership rules. It can also decide to have qualification properties for all of its validators.
Another major advantage is that ECCs can have their own token economics with their own native tokens and fee markets completely independent of other chains operating under Dijets umbrella. They can launch multiple blockchains with customised virtual machines each being an instance of a separate blockchain. Put simply, VMs define the behavior of the ECCs and their blockchain networks.
Virtual Machine defines the application-level logic of a blockchain. It specifies the blockchain’s state, state transition function, transactions, and the API through which users can interact with the blockchain.
Organisations can choose from a number of boiler-plate VMs provided by Dijets or write their own VM. Businesses can finally launch entirely new blockchain network from scratch without worrying about things like networking, consensus, and the structure of the blockchain etc. as Dijets does all of that behind the scenes so developers and businesses can focus on the specifics and the rule-sets of the blockchain instead.
ECCs architecture makes regulatory compliance possible. We already discussed that an ECC may require its validators to meet a set of requirements.
These requirements can range from absolutely anything the organisations choose them to be including:
- All validators of an ECC must reside in a certain country.
- An organisation looking to build an institutional grade ECC for its DeFi application or a futures exchange can require all of its validators to pass a KYC/AML check.
- An ECC can also require all of its validators to meet certain computational or hardware obligations or even be affiliated with a real-world organisation or hold a certain license.
Organisations or developers can create an ECC where only certain pre-defined validators may join and create a completely private and permissioned network where the contents of the blockchains would only be visible to those pre-qualified validators only. Such an ECC would be ideal for organisations interested in keeping their information private.
Flexibility & Customisability#
Building a custom blockchain network with its own rulesets and high scalability has mostly required a great deal of time and effort in the past. The results offered limited security, and generally produced bespoke yet fragile blockchains that never got off the ground.
Ethereum with its smart contracts was a step in the right direction but The Ethereum VM has low performance and imposes restrictions on smart contract developers. Solidity and the other few languages for writing Ethereum smart contracts are vague and unfamiliar to most programmers.
Dijets value proposition to businesses is its ability to create highly scalable and customizable blockchains. We envision a future where thousands of ECCs form a heterogeneous interoperable network of many blockchains, that takes advantage of the blueprint Dijets is building. A safer, fairer and globally distributed, interoperable and trust-less framework of unprecedented decentralisation. The new internet.