Dear ATOMARS Community,
We are pleased to announce the listing of Papyrus (PPR) on ATOMARS exchange. Papyrus (PPR) deposits are effective starting from December 7, 2019, and the trading pair will be available: PPR/ETH.
PAPYRUS PROJECT SUMMARY
Papyrus Network is an open-source blockchain and decentralised applications platform, based on the Papyrus protocol, which was created as a refined version of Ethereum protocol with Proof-of-Authority consensus combined with resource management based on token staking 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.
• 10000x cheaper then Ethereum (no power waste, limited amount of Authority Nodes)
• 100x faster then Ethereum (1500 tps, 1 second blocks)
• 10x more decentralized than Ethereum (47 Authority Nodes vs few Mining Pools controlling 51%+ of hashpower in Ethereum)
MAJOR ADVANTAGES OF PAPYRUS NETWORK:
• Proof-of-Authority consensus 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 subscription 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 an empty wallet, if application smart contract allows it. In EOS each user requires to pay for account creation, while in Papyrus Network users do not need to pay to engage with dApps, if dApp cover resource consumption with token staking. That is a major advantage and enabler for user-friendly dApp interfaces and improvement of user acquisition and onboarding.
• Programmed decentralized governance and high network security, based on User Agreement 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 upgrades of its BIOS contract, which may be executed by the community according to certain rules.
• Ethereum ecosystem compatibility, including developer libraries and productivity tools, wallets and Solidity smart contracts. It enables smooth usage of Papyrus Network by the Ethereum developers community.
PAPYRUS OPEN SOURCE SOFTWARE:
• Papyrus Wallet: https://wallet.papyrus.network/
• Papyrus Explorer: https://explorer.papyrus.network/
• Papyrus network is connected to the Ethereum MainNet via Papyrus bridge: https://bridge.papyrus.network
PAPYRUS NETWORK USE CASES:
• Asset tokenization
Using blockchain technology, previously illiquid assets can now be converted into its tokenized form and cheaply and efficiently fractionalized, traded and settled on chain (rather than go through the lengthy process of clearing and settlement process through third parties like clearing houses). It is estimated that the total value of illiquid assets, including gold, real estate and more, is $11 trillion. Tokenization is envisioned as a biggest area for blockchain technology application.
• Supply Chain Management
One of the biggest problems that firms face when managing their supply chain is the issue of transparency. Blockchains allow multiple parties to access a database to act as the single source of truth. Blockchain technology helps enhance transparency into an otherwise opaque network, helps stop counterfeits and thefts, improves regulatory compliance, reduces paperwork and lessens costs significantly. From a consumer’s point of view, blockchains can empower end consumers to find out precisely if products are what they claim to be. Permissioned blockchains are applicable for this case.
• Online Gambling
The decentralized apps, which are governed by a smart contracts sitting on a blockchain, continue to pull in users. Non-blockchain-based, legal site PokerStars -- the most popular online venue for poker -- attracted around 8,600 people on an average day over the last week, according to traffic tracker PokerScout.com. More than 10,000 people were playing application Fomo3D on a recent day in late July, according to DappRadar. The $40 billion-plus market for online gambling is already growing at the compound average rate of 11 percent a year, according to Transparency Market Research. Public blockchains represent a good fit to ensure trust and transparency for gambling applications.
• Digital Identity
A self sovereign ID can be used to verify identity without needing an individual to produce numerous documents and paperwork each time they need their identity verified. This could be done with a single key that can be matched against an immutable ledger.
• Energy Market
Blockchain technology enables the smart metering of electricity generated through an individual’s solar panels to be recorded, traded and settled on a ledger. If electricity can be traded like any other commodity, energy prices instead of being a fixed regulated price, will respond to forces of demand and supply in a fully functioning distributed electricity market.
Using blockchain technology to record patient information on a distributed ledger can allow different stakeholders conditional access to a single source of truth where each interaction with a patient’s health data can be recorded on a ledger as a transaction with a time stamped audit trail. This makes access to a patient’s health information more secure (patient data is encrypted), can take out the inefficiencies with current data management practices and offers patients more control over their own health data (including monetizing their own health data for research purposes). Permissioned blockchains are applicable for this case.