A public Bring Your Own Identity (BYOI) system with "DLT stack as a library".
Fundamental question:
"Why do we need yet another blockchain network?"
Before we answer this question, lets re-cap what current blockchain networks offer:
- Anonymous private identities
- Promiscuous public transactions
- Applications as "second-class" citizen
- Network as the application controller
Above properties make it very difficult, if not impossible, to build decentralized native applications that require following:
- a strong and well known identity of the user
- application level privacy and encryption of transactions
- DLT support in native applications
- custom/exensible DLT capabilities
- applications using multiple decentralized ledgers
This is the reason TrustNet was created and designed from ground up as "DLT stack as a library", making it possible to build decentralized native applications.
For Users:
- Bring Your Own Identity (BYOI)
- Privacy (You control who sees what about your Identity)
- Security (No single point of mass vulnerability)
- Availability (Resilient to high number of node failures)
- Ownership (You decide which node on the network can be used as an Identity service!)
For Applications:
- A public Identity Management Network
- Private applications using strong public identities
- Native Decentralized Application with custom DLT capabilities
- Abstracts p2p protocol and consensus algorithm into library
- Allows application complete control over transaction processing
- Library automatically adjusts “world state” based on consensus
Application (transaction business logic)
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DLT Consensus Platform (protocol layer)
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DLT Consensus Engine (consensus layer)
| Feature | TrustNet | Ethereum |
|---|---|---|
| Objective | Identity and privacy, Native DApps | Smart contracts based DApps |
| Identity Model | Strong Public identity, BYOI IMS | Anonymous private identities |
| Privacy Model | Strong privacy, application level encryption | Public/non-private transactions |
| Application Model | Native (full control) DApp | EVM bytecode based DApp |
| DLT Stack Model | Multi-network, stack as a library | single network, stack as the controller |