In our previous article we covered the technical side of protocol in blockchain, now let’s move on to how an individual network’s ‘protocol’ is defined. When referring to a specific network’s protocol, such as the CENNZnet protocol or the Bitcoin protocol, what is being described is more an outline of the overall project, some of its functionality and its overall mission, rather than the deep technical detail we looked at above. See it as a bullet point list of its essence or character.
With this in mind the key elements of the CENNZnet protocol are…
What is included in the CENNZnet protocol?
Objective: To create an accessible blockchain that allows DApp developers to take ideas to market fast while providing users with a quality UI and unmissable experience.
- It is a public blockchain. Specifically, it is a native permissionless blockchain where anyone can join securely.
- State transition function includes pre-built runtime modules: DApp builders have access to core CENNZnet modules which provide the building blocks to common functions required for DApp users, these are:
- Generic asset
- Doughnut integration
- It uses a Proof of Stake consensus algorithm
- Smart contracts: a transactional protocol which automatically executes the terms of an agreement. On CENNZnet these are coded in ink!, a Rust-based eDSL for writing Wasm smart contracts.
- Dual token economy: Native coin is CENNZ, gas token used for staking is CPAY.
What are the CENNZnet runtime modules?
The prebuilt modules within CENNZnet’s state transition function are where the CENNZnet protocol is truly different from other existent blockchains. To make build times faster and development more streamlined, we have created pre-built core services (or modules) within the blockchain runtime. DApp developers can opt to use all, some, or none of these modules within their DApp.
The CENNZnet modules available are:
CENNZX is a spot exchange module which enables a seamless fee payment experience on CENNZnet and makes token exchange instant and easy. The CENNZX Spot eliminates rent extraction and centralised services while prioritising decentralisation, usability and security.
Generic Asset protocol enables CENNZnet’s multicurrency economy. The module allows transaction fees to be paid in any asset, provided there’s liquidity in the CENNZX in-chain GAS exchange. CENNZX will then seamlessly convert the asset into the official gas token, CPAY. This streamlines onboarding and in-app experience by eliminating the need for new users to learn about different token types and simply opting for their favoured currency.
The Doughnut module is the secret sauce of the CENNZnet blockchain. Doughnuts are proofs of delegation between two or more cryptographic keypairs. They allow us to prove that one address delegates something to another address and allows permissions and rules to be carried between different networks without the need for a centralised server. This supports user data privacy whilst maintaining a good user experience.
CENNZnet Attestations protocol provides on-chain claim registry for digital identity use cases. This allows personal data to be protected to reduce security risks.