Background
Concept
Throughout the last two decades, and even in more recent years, our lives have been transformed from the bottom-up by technological progress and innovation.In 1988, Timothy C. May projected the world of today with almost visionary abilities and drew attention to the importance of protecting privacy.For the past 12 years - since the advent of Bitcoin - humanity is exploring the technology that showed the world: In designing complex networks and systems, centralisation is not the way forward! The genuine application of decentralised technologies can eliminate the need for trusted intermediaries and third parties - leading to more efficient and reliable processes and considerable reductions in operating costs. In the pursuit of mass adoption, user-centric design has to be one of the key fundamentals in creating digital experiences that stand the test of time. In the future world of interoperating ecosystems, isolated networks are a thing of the past, and a variety of blockchain protocols peacefully coexist, and together contribute to our species’ shared and mutual progress.
Throughout the last two decades, and even in more recent years, our lives have been transformed from the bottom-up by technological progress and innovation.In 1988, Timothy C. May projected the world of today with almost visionary abilities and drew attention to the importance of protecting privacy.For the past 12 years - since the advent of Bitcoin - humanity is exploring the technology that showed the world: In designing complex networks and systems, centralisation is not the way forward!
Ethereum
The genuine application of decentralised technologies can eliminate the need for trusted intermediaries and third parties - leading to more efficient and reliable processes and considerable reductions in operating costs. In the pursuit of mass adoption, user-centric design has to be one of the key fundamentals in creating digital experiences that stand the test of time. In the future world of interoperating ecosystems, isolated networks are a thing of the past, and a variety of blockchain protocols peacefully coexist, and together contribute to our species’ shared and mutual progress.
As cryptocurrency prices soar to previously unseen heights, and the number of users correspondingly increase, blockchain networks are operating notably overloaded, and with intense pressure to scale. In the presence of a deadlock in consensus, the struggle with scaling and transaction costs remains ongoing. Although solution proposals are being worked on already, it will likely take years for Ethereum to move any further, due to internal community politics and the disadvantages of the Proof-of-Work consensus.
Binance Smart Chain
As cryptocurrency prices soar to previously unseen heights, and the number of users correspondingly increase, blockchain networks are operating notably overloaded, and with intense pressure to scale. In the presence of a deadlock in consensus, the struggle with scaling and transaction costs remains ongoing. Although solution proposals are being worked on already, it will likely take years for Ethereum to move any further, due to internal community politics and the disadvantages of the Proof-of-Work consensus.
Binance Smart Chain has created a standard for both businesses and development. Smart contracts and decentralised applications run on Binance Smart Chain - and developers are familiar already with the blockchain’s architecture and coding language. RaccoonSwap is built on theBinance Smart Chain blockchain’s foundations and implements many solutions from legacy blockchain technology and new academic proposals - resulting in significant performance and efficiency, a future-proof governance model, and the ability to scale.
Protocol Architecture
The Raccoon Ecosystem relies on a uniquely modified sovereign version of the Binance Smart Chain blockchain and has a similar protocol architecture design. Raccoon Ecosystem, the goal was to modify the protocol to allow for better scaling and to result in a future-proof governance model that enables the fine-tuning of parameters - all without the risk of compromising the integrity of the blockchain with hard forks, and fully preserving backward compatibility with Binance Smart Chain.
The Raccoon Ecosystem relies on a uniquely modified sovereign version of the Binance Smart Chain blockchain and has a similar protocol architecture design. Raccon Ecosystem goal was to modify the protocol to allow for better scaling and to result in a future-proof governance model that enables the fine-tuning of parameters - all without the risk of compromising the integrity of Binance Smart Chain.
Governance
Validators
Legacy blockchain technologies tend to lag in development mostly due to the inability to reach a broad consensus on the direction of technological advancements.The Raccoon Ecosystem runs on a nation-state governance model. With off-chain governance, a system-of-actions align the users’ interests on a set of governing crypto-economic principles, incentivising work towards the making of a more efficient and prosperous union.
Transactions on the network are organised in blocks and cryptographically chained together for immutability. Network Validators verify the authenticity of newly minted blocks. As network maturation progresses, Raccoon Ecosystem will implement the Proof-of-Stake consensus mechanism, and the option to become a Validator will be available for the public.To kickstart the initial stages of development, and to protect the network from external threats, at first the operation of Validators’ is carried out internally.
With built-in governance processes promoting the free flow and cultivation of ideas, and in a culture of scientific research and expert opinion, the focus is on building and maintaining a sustainable infrastructure that serves all individuals and organisations, robust, reliable, and yet able to adapt to any new and unforeseen circumstances
Already by late 2021, the number of external validators will begin expanding through special invitations. Respected institutions and reputable organisations will be onboarded as first trusted Validators, further bolstering the network’s security and immutability Security is additionally improved by shielding Validators behind The Onion Router (TOR) protocol, so any hostile attempt is much harder to realise due to layered and hidden routing.
Nodes
Transactions on the network are organised in blocks and cryptographically chained together for immutability. Network Validators verify the authenticity of newly minted blocks. As network maturation progresses, Raccoon Ecosystem will implement the Proof-of-Stake consensus mechanism, and the option to become a Validator will be available for the public.To kickstart the initial stages of development, and to protect the network from external threats, at first the operation of Validators’ is carried out internally.
The primary bastions of every network: Nodes are automated network units, and serve as information relays between other network nodes. They store the full or partial transaction history of the blockchain and Nodes verify broadcast transactions, and produce the blocks for the Validators to verify. The Raccoon Ecosystem Ecosystem utilises four types of nodes, differentiating them based on function, and network position
• Boot Nodes are nodes with fixed, public IP addresses, acting as entry-points to the network and route traffic to other nodes.
• Nodes store a copy of the blockchain’s complete transactions history. As ecosystems age, and get larger, the blockchain’s stored copy also grows in length, and disk space requirements continue to increase.
The primary bastions of every network: Nodes are automated network units, and serve as information relays between other network nodes. They store the full or partial transaction history of the blockchain and Nodes verify broadcast transactions, and produce the blocks for the Validators to verify. The Raccoon Ecosystem utilises four types of nodes, differentiating them based on function, and network position
• Service Provider Node is a node that allows the better servicing of smart contracts, decentralised applications, and other connected external units. Users can operate a node specifically to access, read, and write data into the blockchain..
• Light Nodes are the lightweight version of nodes and equipped only with a partial copy of the blockchain’s transaction history. Light Nodes are not yet present in the ecosystem due to the early stage of Lord Land’s developments and the network’s short blockchain transaction history.The system requirements of operating a node are relatively low, and the technical skills necessary are not considerable either
System Requirement Of Running Node On Raccoon Ecosystem
Recommended CPU | Four or more CPU cores |
Memory | 16 GB or more |
RAM Storage | SSD with at least 500 GB free space |
Internet Connection Speed | 25+ Mbit/s |
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