Era Swap Network (ESN) is a PoS-based side-blockchain on top of Ethereum blockchain using the Plasma Framework. To achieve the necessary consent on the single state of the network among distributed parties within the network, Era Swap Network (ESN) uses Proof of Stake (PoS) Consensus Mechanism - It is a fault-tolerant mechanism used in Blockchain systems
Era Swap Network will offer Scalability, Speed and Low-Cost Transactions to users of Era Swap Ecosystem. Era Swap also offers the benefit of trustless security for users by remaining on an alternative chain. ESN testnet could do upto 500 transactions in every 5 seconds at 98% lower costs as compared with Ethereum Blockchain.
The core strength of ESN comes from its Proof of Stakes Consensus Protocol (PoS CP) via TimeAlly 1L1T Smart Contract staking and Node Validators. The consensus permits Blockchain to function without being dependent on a single actor, as different participants in the network, offer their consent which makes Era Swap network.
Anybody can participate to accumulate ES in long term to safeguard the future, and have the control over their growth. The sole purpose and reason for TimeAlly 1L1T holders should be to participate, not to earn profits, but to protect the interest of ESN and their own long term Era Swap Stakings.
The real motivation of TimeAlly Holders is to focus on Staking so they can withstand the inflation of the Era Swap and secure Era Swap network instead of assuming profit from the participation. The value of Era Swap will decrease and eventually will become worthless if the Era Swap Holders fails to stake and participate in Era Swap Network.
For ESN PoS CP, A New User can stake Era Swap in TimeAlly`s 1 Life 1 Time Smart Contract. To participate in ESN PoS CP, Existing users can Sign an accord Signature on Era Swap Life / Era Swap KYC DApp for ESN PoS CP via TimeAlly 1L1T Staking to migrate towards Era Swap Network
Era Swap Network (ESN) is a decentralized Blockchain Network, and the growth of ESN is solely dependent on the community and doesn’t depend on the Promoters/ Developers. In ESN, a person can create liquidity with their own efforts and solely responsible for the rewards generation. So, the efforts of Era Swap Community makes ESN sucessful.
A participate incentive is secured in ESN by his / her stakings in ESN PoS through TimeAlly 1L1T Smart Contract. All the incentives to stakers are distributed via Smart Contract to participant of ESN.
In ESN there are multiple opportunity available to accumulate ES and it increases its value with individual efforts and responsibility by community members and participants. This contribution by everyone will determine their success whether or not the enterprise is successful.
ESN Newly released token distribution is designed to take care of network and withstand inflation, and also gives additional power on Swappers Wall to incentivize new ES Ecosystem participants. Also stakers receive TimeAlly 1L1T Staking Rewards which are designed to enable the incentive mechanism for stakers who can participate to secure Era Swap Network
Due to Proof of Stake (PoS), participants can protect Era Swap Network as ESN is governed by Proof of Stake Consensus Protocol (PoS CP) through which Era Swaps are staked in Smart Contracts and Stakers agrees to participate in Era Swap Network.
The TimeAlly Holder is not exposed to any risk of losing their Era Swap which are staked, but only the risk that he or she will not earn TimeAlly 1L1T rewards. If the holder is abstained from TimeAlly 1L1T staking they both way forgo Rewards and suffer from Era Swap Network Inflation.