On Tuesday, October 2nd, we were delighted to hold an event that really helped us get plenty of feedback — Essentia’s first Technical AMA session. Though it lasted for only an hour, we were able to have quite a few lively discussions!
Hot on the agenda were masternodes and supernodes! Of course, even though it is still being designed by our development team, we made sure to answer a few questions on the topic and give a tiny bit of a sneak peek at the system.
We answered a bunch of questions related to the masternodes/supernodes — check out our official subreddit (r/essentia) to find all the in-depth answers.
Regarding the question of whether the supernodes will be available only to presale contributors — it’s currently under internal discussion. We’re still looking for a solution that will be the best option to keep the system completely stable and fully operational.
To set up a masternode you will be required to lock 100,000 ESS. There is a simple but solid reason behind it — tokens will be a guarantee that this particular masternode is valid.
The way masternodes and supernodes interoperate with each other is another interesting topic we haven’t touched yet.
To lay it out simply, masternodes are needed for a block to be created. Supernodes are used to sign the mentioned block and thus validate the transactions. Their interconnection is the base on which the Essentia blockchain will be built.
Masternodes also ensure the Essentia blockchain’s most prominent functionality. They act like a gateway to other networks, allowing for atomic swaps to be conducted and providing the much blockchain interoperability. What also needs to be taken into the consideration is that all the network dApps run on the masternodes as well.
Now that we’ve covered the masternodes/supernodes, let’s move on to some other topics that were discussed in the AMA!
Great question! Let’s take a look at the Essentia Superwallet!
Having made a thorough analysis of the existing solutions, we are currently working on incorporating a lot of novel (and what we believe to be a breakthrough) features into our Superwallet.
We’re designing a solution that will be highly functional but still intuitive and user-friendly. We’re adding a large number of currencies and tokens in order for our users to be able to manage all their digital assets in one place, without having to switch between multiple services. Quick, intuitive, and highly functional — that’s what we’re building.
We don’t get tired of saying that the Essentia Team is made up of the biggest decentralization fans out there! That’s why we have never even considered using any kind of centralized server or database to store our user’s data. Quite honestly, that would defeat the whole purpose of decentralization!
We also noticed that you were all especially curious about the upcoming Essentia blockchain! We’re working on designing a secure and highly scalable solution, in order to increase the throughput and enable a much wider functionality. That’s why we’re implementing such features as Hybrid consensus, Atomic swaps, and Sharding among others. This way we will ensure that Essentia’s users will able to build dApps running on multiple blockchains, create millions of transactions and conduct and participate in ICOs using our blockchain with everything going completely smoothly.
If you want to learn more about the upcoming release you can always check out the blockchain architecture document that is available on our official website. We’ve also prepared a number of articles devoted to the topic — Technical overview and General overview.
That’s all for now, but again, you can find all the in-depth discussions on our subreddit!
It was honestly a pleasure to discuss with all of you at our AMA session and we appreciate all the enthusiasm you’ve shown. We hope that our future AMAs will be just as much fun and that we will be able to share even more of our vision!
Feel free to reach out to us via our social media channels!
P.S. Have a look at our team while answering your questions!