Chips as blockchain nodes

To carry out the main load of generating new blocks, validating blocks and voting for them, there are chips. This is a cheap processor capable of executing our project code to become an independent node in the blockchain. Each chip belongs to a user and works in his interests. It performs the basic functions of a blockchain node: monitoring new unapproved transactions and maintaining a pool of new transactions, attempting to create new blocks, checking new blocks proposed by other chips, voting for blocks.

A new user of the project buys one or more chips. The more chips, the higher the amount of reward for generating new blocks (but from the point of view of one user, it is more profitable to buy only one chip, and put the money from the purchase of others in the form of tokens into the account of a single chip).

Each chip operates independently of other chips and user actions. The company provides their startup, backup power, repair, replacement, appropriate software, fast Internet access, etc. The chip is sold turnkey and does not require any action on the part of the user. The user acquires a lifetime right to rent such a chip free of charge. The user only needs to install the application on his mobile phone and identify himself, after which his application works with the API of his personal chip. No technical knowledge is required from the user. The chip, in turn, understands that this is its user. When purchasing, the public key of the user’s wallet is recorded in it (the private key remains with the user). The chip stores software that can only act as a node in the blockchain. The user cannot somehow damage or overload his chip with a parasitic load so that it affects a server rack with many foreign chips. The software of each chip runs on different physical cores (chips) and there is not even the potential for any hacking.

The power of the chip may vary according to the price the user pays upon purchase (different tariff plans). There is no subscription fee, one-time purchase. A more powerful chip will earn more rewards because it will be able to do more useful work for the blockchain.

If some user decides to start mining on their own, we provide this opportunity, but with restrictions. You need to buy one of 3 tariff plans, similar to the price of a chip. The purchase looks like one NFT on the user’s wallet and allows for independent mining (block validation). The reward for this is equivalent to how much a chip of the same tariff plan can earn. NFT since the chip is purchased once for the entire life of the project, there is no subscription fee. The company provides software to the user so that he can independently launch his own blockchain node on his computer or server.

The financial limit for running a blockchain node exists to protect the blockchain from malicious activities. In addition to rewards for mining, the blockchain controls destructive actions and can fine the user for sabotage or mistakes. If the user’s account does not have regular tokens, then the NFT will serve as collateral from which a fine can be withheld. NFTs cannot be split into parts. And in the event of a fine for attempting to hack the blockchain, the system seizes the user’s NFT, converts it at the market rate into tokens and charges them a fine (a small part). A regular token can be divided into small parts to pay a small fine. Users who bought chips are not subject to fines - the proven software in their chip works for them. A fine is a very rare situation. But absolutely necessary for protection and also exists in other blockchains. This will be described in more detail in the corresponding chapter.