The Fido Blockchain Architecture: How It Works
The Fido Blockchain Architecture has five layers: Layer Zero, One, Two, Three and Four
Layer Zero: Infrastructure Layer
Fido cubes are distributed parallel processing nodes that enables the network to scale indefinitely and provide the back-up needed for an undisrupted service. They also act as full nodes that generate gas for the protocol transactions.
Layer One: Network Layer
Layer Two: Protocol Layer
Layer two also includes gas which encourages redundancy to the network, such that the Fido protocol becomes undisruptable. The Fido cubes therefore provide additional layers of security on top of existing data centre networks around the world. Instead of SHA256 encryption, we are also basing the encryption on Iris technology. Your iris would be the key to log in instead of a private key, eliminating the need to worry for loss of funds.
Layer Three: Modules
Modules refer to smart contracts, multi-signature, e-identity, oracles, governance, off/on-chain computing, fungible/ non-fungible tokenization.
Users are free to write, create and execute secure smart contracts for token issuance. They need not know how to code in order to generate smart contracts as the interface layer is designed to be intuitive and user-friendly. Users can trade digital assets and raise funds off exchanges that are built on layers three and four. They are able to also create stable coins, wrapped tokens and other derivatives.
Layer Four: Swap Engine
The Fido Blockchain Architecture:
Our Competitive Advantage
Layer zero
Both hardware and software work together to provide a strong layer for enterprises to build on as they provide a low-level logic that supports the scaling up of network for nodes to join the legacy network. Thereafter, with a strong foundation, the higher levels can then be easily customizable.
As a result, the expected transaction per second (TPS) of the Fido protocol would be at least 100x higher than any of the existing blockchains, resulting in a high speed and secure platform for enteprises and governments.
Each Fido cube is also designed to be affordable and easy to maintain, which makes it environment-friendly and sustainable choice for many in the world, even in rural areas.
All nodes will be able to produce blocks to go onto the Fido blockchain, and dynamic block producing will be encouraged. This is because the number of blocks produced will be based on the exponential growth of the network, rather than fixed algorithms.
Non tech-savvy users need not worry about the technicalities behind the Fido consensus model, because the interface layer of the Fido blockchain is designed to be intuitive. Applications built on the Fido blockchain allow the user to conduct transactions as easy as a few clicks.
Layer Two
What this means is that nodes surrounding the user, or held by the sender and receiver
allow transactions to go through.
This shared algorithm allows the user to hold any tokens on the Fido protocol as well as to indicate the type and quantity of token the user is willing to hold.
This specification also ensures that the user does not get any untrusted tokens that he or she is not willing to hold.
In order to participate in the Fido ecosystem, the user has to first agree to this shared consensus and connect to the issuing account, which is one of any of Fido’s trusted anchor accounts.
The shared algorithm allows trusted networks to be created within the system and reach a consensus result rather than to follow traditional consensus models such as the environmentally unfriendly proof-of-work, or easily congested proof-of-stake. It will also decide the turnaround of each block production and which nodes will be able to produce blocks.