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