Graphene implements an industrial-grade technology focused on businesses, organizations or individuals, with an amazing ecosystem and free-market economy. Based on open-source MIT-licensed Graphene technology, blockchain and its dApps have been maintained and developed by workers (through consensus) elected via core-token holders.Important links
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The Graphene Blockchain, as it exists today, is based on the open source Bitshares codebase was originally launched on 13th October 2015 with its community being established already in 2013. It implements an industrial-grade decentralized platform built for high-performance smart contracts with focus on the financial technologies sector.
Furthermore, Graphene represents the return to the vision of the first decentralized autonomous cooperation that lets holders of its core native token GPH decide on its future direction and governance aspects. For sake of clarity and to avoid confusion with other smart contracting platforms, the Graphene Blockchain implements its contracts in form of operations. Its architecture as well as its governance system using the core native token GPH.
The Graphene Blockchain is industrial-grade technology focused on businesses, organizations or individuals, with an amazing ecosystem and free-market economy through DeFi tools
Those of you who are following the Bitshares platform certainly know about the recent event, that caused a lot of debate. During the BTS4.0 protocol upgrade, one of the hired core devs (abitmore) added a community unapproved backdoor to the code, which led to the change of the voting rights, and a major change of the consensus procedure. As a result multiple conflicts ensued with a significant portion of community leaving Bitshares.
After thoroughly analysing the consensus changes, that were made without voting or any discussion by community members, we verified that the resulting system is unscalable and doomed to stagnate. As a result our team decided to launch a fork of stable and time tested Bitshares3.0 consensus code using Graphene — the original name of the technology.
You can read the summary of the situation that happened in Bitshares that caused this fork
in this article (https://blckchnd.medium.com/bitshares-drama-f20df1c29b93) Graphene Blockchain Specifications- Consensus algorithm: Delegated Proof of Stake DPOS
- Block time: 3 sec, ~1.5 sec latency for 99.9% irreversibility certainty
- Block reward: 0.3 GPH (from treasury)
- Irreversible blocks: (2 * BLOCK_INTERVAL * WITNESSES / 3) ~ 22s
- Coins not in reserve fund: 3 068 217 GPH (2021 June 29)
- Coins in reserve fund: 96 931 783 GPH (2021 June 29)
- Maximum Coins: 100 000 000 GPH (constant)
- Maximum Transactions Per Second: ~100k
- Launch date: 2021
Features / Technology- Token Factory
Create your own cryptocurrency tokens by publically representing and listing a User-Issued Asset on the blockchain
User-Issued Assets enable entrepreneurs to issue their own tokens. Event tickets, company shares, crowd-funding, loyalty/credits are just a few of the examples. Whitelist to create fully regulatory compliant KYC/AML tokens. Publically describe, list, and provide liquidity for your assets. - DPOS consensus
The DPOS algorithm is divided into two parts: electing a group of block producers and scheduling production. The election process makes sure that core-token holders are ultimately in control because stakeholders lose the most when the network does not operate smoothly. DPoS (Delegated Proof of Stake) specifically replaces environmentally reckless ‘mining’. - Permissions
The Graphene Blockchain designs permissions around accounts and then cryptography for ease of use. Every account can be controlled by single or weighted combinations of other account/s and/or keys. This creates a hierarchical structure which can be built to reflect real-life permissions – for example a company or organization approval and signing processes in digital form. - Transactions
Any user interacting with a Blockchain does so with transactions which are authentic and authorized.
Transactions are constructed then transmitted to the network, containing instructions the user wants to perform. The most simple form is the transfer operation, which contains sender, receiver, amount, and optionally, encrypted memo. - Extensibility
Operations on the Graphene Blockchain allow for extending its range of functions towards built-in or external dApps. The Graphene Blockchain is extensively modularized and implements operations independently of one another. Graphene is considered so stable because core blockchain modifications require vetting by the core developer team, followed and approved by GPH holders before any network-wide protocol upgrade. - Identity
Human-readable account names that must be registered together with public-keys in the blockchain prior to usage. The Graphene Blockchain acts as a name-to-public-key resolver in a similar way to the traditional Domain Name Service (DNS). Users can easily remember and pass on their account information instead of error-prone addresses. - DeFi tools
Wallet inbuilt DEX and prediction market, market pegged assets (MPA), future nft market and automated liquidity pools - Processing Speed
Fastest block confirmations. Transactions get written to the blockchain within 3 seconds, and on average in under 1.5 seconds - Lowest Fees
Like other Blockchains, Graphene also has fees yet they are much lower than average, with 80% vesting cashback for lifetime members. - Security
Delegated Proof of Stake (DPOS) is virtually impossible to hack, as it would involve taking out many active and backup, global, trusted delegates. - Dynamic Account Permissions
Enabling management for the corporate environment, control wallets using a weighted combination of other account approvals. - Recurring and Scheduled Payments
Supports recurring payments, subscription payments, allow users to authorize third parties to make withdrawals within certain limits. - Self-Sustaining
Powered by an ecosystem of dApps which self-fund the core token GPH, ensuring the blockchain covers costs to keep going in perpetuity.
Coin distributionInitial distribution for Graphene was made through win-win lottery. All the registered tickets of the lottery were formed into the genesis block of the blockchain. Max blockchain supply: 100 000 000 GPH. Total drop for lottery participants: 2 541 000 GPH.
GPH token has limited total supply that differs from circulating (liquid) supply. 97 459 000 tokens are reserved for subsequent project financing and witness rewards. These funds will become available to the worker system only after approval of the GPH token holders. This working budget is also known as “reserves”. Please note that blockchain transaction fees are not divided between GPH holders, but returned into the worker pool for further blockchain development. No rewards are given for holding GPH on your account.
The difference between max supply and circulating supply is called the Working Budget and has often in the past been referred to as the reserves. The Graphene Blockchain has a daily budget to use for development. This budget has a hard-coded upper limit of Total funds in the working budget / 2924. From this daily budget, block production as well as for project funding are made. Of course, the GPH holders have the choice and need to approve GPH tokens leaving the working budget.
Block production comes at a cost for running and maintaining equipment. The Graphene Blockchain acknowledges this fact by rewarding block producers in core GPH tokens per produced block. Depending on the valuation of GPH, the committee can modify the amount of GPH rewarded per block. At launch, each block is rewarded with 0.3 GPH. Those GPH are taken from the working budget.
A certain amount of the daily available tokens can be allocated to make development possible by means of workers. Anyone can set up a worker on the Graphene Blockchain and ask for a daily allowance in GPH. If the GPH holders approve a particular worker, the GPH are transferred from the daily budget. A Soft-limit defines the maximum amount of the daily budget that is given to all approved workers. Consequently, those workers that have received more votes from GPH holders will receive their funds first. This means that workers, even if approved, may not be funded if the aforementioned threshold is hit. Furthermore, workers constantly stand under the scrutiny of the GPH holders who can disapprove (e.g. fire) workers that do not deliver.
White paperwp.gph.aiFor Developersdocs.gph.ai/en/latestdevelopers.gph.ai/en/latestExchangesmarket.rudex.orgWallets/Appsmarket.rudex.orggithub.com/graphene-blockchain/graphene-ui/releasesgithub.com/blckchnd/rudex-ui/releasesplay.google.com/store/apps/details?id=org.rudex.appBlock Explorersmarket.rudex.org/#/explorer/blocksContactsGithubgithub.com/graphene-blockchainForumforum.gph.aiTelegramt.me/graphene_dext.me/RU_DEX (RU)
