A Glance of Persistence Chain(s)
One of the Persistence technology stack is Persistence chain(s). Persistence chain(s) is a matrix of sovereign business distinct ‘App-chains’ with security supplied by the Persistence main-chain and its set of validators
As stated in the previous article, Persistence is a network of sovereign chains that host Open Finance dApps (Exchanges & Marketplaces), which allow entities with excess capital (lenders) to connect with entities that need capital (borrowers) (borrowers).
The chains' sovereign nature permits for customizations in terms of speed vs. security, as well as privacy concerns, which is subject to the business requirements.
Furthermore, the design allows dApps to function in isolation, unaffected by higher transaction loads encountered by other dApps on the chain.
This is critical in ensuring a seamless end user experience and meeting institutional users' expectations.
Chain security can be either independent or shared, depending on the speed, security, privacy, and economic limitations.
As a result, the consensus method can range from Proof-of-Authority (PoA) to delegated Proof-of-Authority (dPoA) or delegated Proof-of-Significance (dPoS).
Certain essential factors will be governed at the main-chain level via interchain communication, while others will be decided at the app-chain level (more details below).
Validator incentivization mechanism
App-chains, in most situations, will not include a native token (with monetary value or transferable on open markets) to ensure that the dApp end user is not burdened with additional complexity. As a result, validator (dis)incentivization occurs at the main-chain level.
Storage of Asset data (using NFTs)
NFTs, which are typically storage intensive, are kept in app-specific chains to avoid interfering with other chains' performance.
Permissionless chain using the Byzantine Fault Tolerant (BFT) Tendermint consensus engine based on delegated Proof-of-Stake (dPoS).
Byzantine fault tolerance refers to the capacity to accept computers malfunctioning in random ways, including turning malevolent (BFT).
A dispensed collection of Validators and the native Persistence token, $XPRT, protect the Persistence main-chain. App-chains can be secured by the main chain via shared security. App-chains, on the other hand, can have their own security mechanism (depending on business needs).
Using the Interchain Communication Protocols1 (IBC and ICMP), the Persistence main-chain will be able to communicate with other chains.
Persistence Platform Governance
The Persistence Platform's main-chain serves as the primary location for governance (indicating to the Persistence main-chain and all of the app-chains in the Persistence ecosystem).
Validator incentivization mechanism
In the absence of monetary tokens in some app-chains, validators working at the app-chain level are (dis)incentivized at the main-chain level.
Asset ownership and trade
For all of the app-chains, the Persistence main-chain keeps track of asset ownership (ownership of NFTs) and allows asset ownership exchange.
The Interchain Communication Protocols connect the app-chains to the Persistence main-chain. Interchain communication provides three key purposes within the Persistence ecosystem:
1. Interchain dis(incentivization)
2. Interchain NFT transfer
3. Interchain (app-chain) governance
Persistence is an Interoperable Middleware that offers sovereign settings for the development and operation of Decentralized Institutional Finance Applications.
The Persistence design and technology stack were developed with the above issues in mind, and after numerous iterations of attempting to address them.
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