Welcome to Papyrus Network documentation!¶
Papyrus Network is a blockchain and decentralised applications platform, based on the Papyrus protocol, which was created as refined vesrion of Ethereum protocol with Proof-of-Authority consensus for better scalability, security, robustness and user-friendly application interfaces.
Mission of Papyrus Network is to stimulate adoption of decentralized applications in B2C and enterprise segments across the globe by resolving issues, which are slowing down their practical adoption, such as limited network throughput, security risks, volatile transactional fees, complicated user onboarding process.
Papyrus Network is compatible with Ethereum ecosystem of 3rd party software, user wallets, developer libraries and productivity tools. Ethereum dApps can be launched within Papyrus Network, achieving improved stability, scalability, speed and security, while also simplifying user onboarding process by removing barriers like calculation of gas limit and gas price, and enabling removal of transactional fees for users completely.
Major advantages of Papyrus Network are:
- Proof-of-Authority conesnsus with variable Authority Nodes count, which is energy-efficient (no PoW waste), faster (one second blocks interval and fast block finality), cheaper (no need to store thousands of data replicas and involve thousands of nodes to consensus protocol, if protocol have governance model, which deliver same or higher level of security by utilising small number of credible Authority Nodes) and more secure (small scale PoW networks are subject to 51% reorg attacks, dPoS networks are subject to the power of minority (“whales”) of large token holders), than other approaches for the public distributed ledger network consensus.
- Token staking as a way to allocate network resources, similar to the one in EOS network, where network resources are tokenised and application developers are able to use subscriptional model to pay for network resources by staking resource tokens. Staking enables developers to have predictable cost on their application operations, ability to have reliable models for their financials, and allows developers to provide free-of-charge transactions for their application users, so that dApp can be accessed even by those with empty wallet, if application smart contract allows it. That is a major step for building user-friendly dApp interfaces and improving user onboarding conversions.
- Programmed decentralized governance and high network security, based on Constitution and Network BIOS contract, which splits power between Authority Nodes and token holders, and tries to establish system of checks and balances to ensure that everyone is incentivised to behave in a best way to achieve better Papyrus Network service and wider Papyrus Network adoption, also providing instruments to tolerate attack attempts and maintain efficient self-governance. Papyrus Network sets initial governance vision and implementation and supports evolution of it by BIOS contract upgrades, which might be executed by the community according to certain rules, as likely there will be new things to address as network develops.
- Support of Ethereum ecosystem of developer libraries and productivity tools, wallets and Solidity smart contracts. It enables usage of Papyrus Network by the Ethereum developers community.