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GEN Protocol

GEN Protocol is a solution to activate the Generation ecosystem. GEN Protocol is a solution that provides Pinetree Space and 3 Seconds Club, which constitute the Generation ecosystem, to have lower fees, faster transaction speed, and stability.
Various users who want to build an ecosystem using Generation Proudct Based on the low fee and fast TPS of the GEN Protocol, it is possible to build an ecosystem faster through various scalability possibilities.

Detail:

Purpose

GEN Protocol Mainnet is a solution that helps the practical use of blockchain technology through short block generation time and the edge nodes. In the same way as the Hyperledger blochain, the overall technology utilizes the blockchain as a tool to help improve technology, providing an opportunity for rapid mass adoption of various DApps from Web 2.0 to Web 3.0.
GEN Protocol Diagram

Validator Node

Validator Node
  1. 1.
    GEN Protocol adopts PoA consensus and the Foundation operates Validator nodes. The TX Fee generated by the Generation Protocol is taken by the Validator node, and this quantity is all distributed as Gate Keeper Staking rewards.
  2. 2.
    The Validator node is connected to the Sentry Node operated by the Foundation, and the rest of the external access is blocked.

Sentry Node

Sentry Node
  1. 1.
    Sentry Node plays a role in communicating with the validator node whose external access is blocked for security.
  2. 2.
    Sentry Node helps to connect Validator node and Edge node.
  3. 3.
    Since there are Sentry nodes for each continent, Edge nodes can connect with the Sentry nodes closest to them, and Sentry nodes are operated by the Foundation.

Edge Node

Edge Node
  1. 1.
    Edge nodes are required to access the GEN Protocol from various geographic locations. With the use of the edge node, the latency for broadcasting a transaction can be reduced, and the closer to the device, the better the user experience can be acquired
  2. 2.
    The Gate Keeper will operate the Edge node, the RPC endpoint of the Edge node will be open to everyone, and the compensation for the Edge node operation will be paid as a GEN reward
  3. 3.
    Users can delegate GEN to the Edge Node Operator Gate Keeper. Users can receive the same reward as the Gate Keeper through the delegated GEN, excluding the fee set by the Gate Keeper

Function

  1. 1.
    Transaction Fees: Very Low
  2. 2.
    Block Time: 1 Seconds

Gate Keeper

  1. 1.
    Gate Keeper performs edge node operation and bridge asset validation through Generation Protocol node execution and gate-Keeper-tool execution.
  2. 2.
    Gate-Keeper-Tool - Setup · Gate Keeper Staking Address: Ethereum address being staked by Gate Keeper · Delegating Fee: The fee that Gate Keeper will receive from the users when GEN is delegated.
  3. 3.
    Edge Node Operation Edge nodes are needed to geographically and physically get closer to the devices to lower the hurdles of the users to access the blockchain. Gate Keeper needs to expose RPC endpoints and perform block synchronization.
  4. 4.
    Bridge Asset Validation
Birdge Asset Validation
- Gate Keeper serves as a validation for Asset peg from Ethereum to GEN Protocol. Gen Bridge rewards Gate Keepers with GEN as a reward for validation.

- Process

1) The user sends 100 USDT from the Ethereum network to the Reserve Wallet
2) The Gate Keeper checks the amount received in the Reserve Wallet, signs it with each Gate Keeper Private Key, and broadcasts it to the GEN Protocol
3) According to the staking ratio of Gate Keeper, if the value is more than 2/3 of the signed value, the same amount is generated in the GEN Protocol. In the above diagram, because the sum of A + B + C staking exceeds 2/3 of the total, 100 gUSDT is generated and paid to the user