What is Papyrus Network?

Papyrus Network is a decentralized blockchain platform for supporting smart contracts and high throughput designed for mass adoption and enterprise usage. Papyrus Network is an operating system which will allow developers to deploy their own decentralized applications and will allow companies integrate custom blockchain for their business needs.

What is the prospects of Papyrus Network?

We aim to build a Papyrus Network ecosystem that everyone can participate in and benefit from. Some of the features of Papyrus Network are:

  • Users are able to reduce costs, enjoy convenience, and build fortunes by using different DApp functions deployed in Papyrus Network. Instead of gas transaction fee model token staking model is implemented to allocate network processing power and storage facilities.
  • Developers have a vast range of rights including deploying DApp in Papyrus Network net, expanding business and gaining traction as influencers and authority leaders.
  • Authority node holders demonstrate support for Papyrus Network and its abundant returns.

Everyone will devote their energy to the construction of the Papyrus Network ecosystem, and will benefit from helping to build Papyrus Network regardless of their role as users, developers or Papyrus Network Authority node holders.

What differs Papyrus Network from Ethereum, EOS and TRON?

Papyrus Network combines the best features of Ethereum and EOS avoiding their weaknesses and having something different inside:

  • Consensus Module

Instead of energy intensive Proof-of-Work lightweight Proof-of-Authority consensus and Separation of Powers are realised, where fixed amount of network nodes called Authority Nodes are operated by credible organizations with public exposure. As a result resource wastage can be eliminated inherent to Proof-of-Work and ensure reasonable transaction costs.

  • Token Staking

Instead of gas transaction fee model token staking model is implemented, where token supply represents total available network throughput and each token represents fraction of it. Application developers need to stake tokens (locking them for specific period of time) for their dApp contracts to receive access to required network bandwidth and may adjust staked amount from time to time accordingly to their needs. Developers don’t need to worry about token price volatility between revisions of their bandwidth requirements.

For more information on what differs Papyrus Network from others, go check Comparison page in the Docs.

What are Authority nodes?

They are active network nodes, which participate in Proof-of-Authority consensus. Initial set of Authority nodes was appointed by Papyrus team. After network is launched Authority nodes self-elect themselves from current set of eligible node candidates. Inclusion or exclusion of Authority nodes is based on votes from other Authority nodes. Maximum amount of Authority nodes is fixed as 47, as in our view it is good tradeoff between network speed, scalability and resistance to attacks.