Fast, Final Settlements: Digital Asset moved from Ethereum (e.g. ERC20) to the Eurus network (e-ERC20) can achieve final settlement within a minute.
Confidential Transactions: Eurus network will hide the personal data and private key by blockchain to keep users’ financial data safe.
Lower Gas Fee: Economic Gas fee, enhance the transaction efficiency.
Partnership: Eurus provides support for business like Dapp developer and online shop. All cooperated parties have admin system to allow their service or product to take advantage of features such as Airpdrop and promotion.
Eurus Economic Blockchain Network
Eurus is open-source blockchain protocol based on Hyperledger technology with industry-leading cross-chain transaction speed and flexible network. Our interoperability architecture is one of the most critical infrastructure to reach a prosperous future in the blockchain industry.
The purpose of Eurus a cross-chain solution is to solve the Ethereum transaction speed and fluctuates gas fee. As we known those problems not only narrow Dapp developing also reduces the use of digital asset as a payment channel, which definitely affects the liquidity of it.
Eurus committed to develop and govern a side-chain which specifically provide the interoperability solution of above segment. To create a blockchain network specific solve the economy actives. And all economic data are transparent viewable on Eurus Explorer.
Eurus Merchants Integration is set of open-source code which are available for traditional online merchants. Besides, we will provide most user-friendly Dapp development manual for diversity industry to investigate the transformation requirements.
Eurus Dapp Portal Solution is providing connectivity to Eurus side-chain , developers can deploy Dapp by using our API and SDKs. Developers also with incumbent incentive and monthly reward for their contribution on Eurus.
Community Tool is the tools for the merchants or Dapp developer to increase their brand awareness. Which included advertisement placement and bounty control panel which allow to set up the event anytime. One-stop privacy protection communication tool allow make the instant message from user to user.
Eurus Economic Data are transparent viewable on Eurus Explorer
Role of Network
Master nodes: It is a super node which held by an organization. The organization are required to attach their reputation of identity and EUN.
Validator nodes: It is open for any stakeholder of Eurus. The participants are required to stake EUN.
BAll of Nodes are sharing Eurus Network fee equally.
Eurus ‘s Interoperate solution
Eurus is a sidechain of Ethereum that allows users of the Eurus Network to transfer digital asset between Ethereum. Digital asset (e.g.ERC20) used in the Eurus Network is referred to as e-ERC20 , and each e-ERC20 has a verifiably equivalent amount of ERC20 secured by the Fund Smart Contract. All Eurus nodes are monitoring these Fund Smart Contract.
For every cross-chain transaction, Eurus network ‘s Fund Smart Contract will lock the funds being sent from the Ethereum indefinitely, an equivalent quantity e-Token are minted accordingly and send to the destination Eurus Wallet address. When Eurus Wallet address call “send” digital asset to Ethereum address command, all nodes will verified the command. Then, execute the burn process on the commanded quantity e-token at Fund Smart Contract. Then the equivalent quantity digital will be released to the Ethereum ‘s recipients.
Eurus further make use of the smart contract to provide a more secure consensus models for cross chain bridging, asset transferring that 5/7 of the system consensus must be fulfilled before processing any asset allocation from mainnet blockchain to Eurus chain or vice versa, asset transferring within Eurus, in order to makes it more difficult to malicious attack.
The Eurus node is connected to each other within the networking layer, which is the driving force for delivering information exchange requirements. This includes new block diffusion and transaction information for establishing a better data flow.
Eurus consortium operates for each connected blockchain a group of validator nodes, which as a group provides the proofs of the state of the connected ledger. The group of validator nodes runs a consensus algorithm to agree on the state of the underlying blockchain. Since a proof of the state of the blockchain is produced and signed by several validator nodes with respect to the rules of the consensus algorithm, the state of the underlying blockchain is evaluated network wide.
The validator nodes are ledger-specific plug-ins, hence a smart contract on the connected blockchain can enable the ledger-specific functionalities necessary for a validator node to observe the ledger state to finalize a proof. The validator nodes are easier discovered from the outside than the blockchain nodes. Hence, the benefit of operating the Eurus network to enable blockchain interoperability relies on the fact that for any cross-blockchain interaction the same type of validator node signatures can be used. That means, the cross-blockchain interaction can be done canonically with the validator node signatures in Eurus rather than having to deal with many different ledger-specific types of blockchain node signatures.
Outside entities (verifier nodes) can request and register the validator nodes ‘public keys of a blockchain network that they want to connect. Therefore, they can verify the signed proofs of the state of the blockchain since they have the public keys of the validator nodes. This implies that the verifier nodes trust the validator nodes as such they trust the Cactus consortium operating the validator nodes.
The main benefit of Eurus node
- Analysis of blockchain data on local machines, no remote calls needed.
According to crypto experts, Eurus is much more stable than its peers. Hyperledger products are generally rated positively by companies and developers, which is not the case for most similar clients developed by other companies.
- Sending your transactions from a node you trust.
- Having your node is beneficial if you are developing your decentralized application or service.
For the ecosystem:
- Further decentralization of the Ethereum network enables everyone to access more copies of the blockchain history.
- Less time delay.
How does it work?
Eurus nodes are using IBFT 2.0. protocol to facilitate consensus on the chain. Approved accounts take care of the blocks and transaction validation. The approved accounts are known as validators. The group of validators then acts as an entity of power, where they can vote for adding/removing validators.
In IBFT 2.0 networks, approved accounts, known as validators, validate transactions and blocks. Validators take turns to create the next block. Before inserting the block onto the chain, a super-majority (greater than 66%) of validators must sign the block first.
IBFT 2.0 requires four validators to be Byzantine fault tolerant. Byzantine fault tolerance is the ability for a blockchain network to function correctly and reach consensus despite nodes failing or propagating incorrect information to peers.
Producing a block
The goal of blockchain technology is the production of an independently-verifiable and cryptographically-linked chain of records (blocks). A network of block producers works to advance the blockchain collectively. A consensus protocol provides transparency and decides which candidate blocks should be used to extend the chain.
Submitted valid transactions might be included in any new block. A block is cryptographically signed by its producer and linked to the previous block in the chain. This makes it impossible to delete transactions from a block, alter the order of the blocks, remove a block from the chain (if it already has a number of other blocks following it), or to insert a new block into the chain without alerting all the network participants. This ensures the integrity and transparency of the blockchain expansion.
Eurus repeats the set of transaction pool validations after propagating the transaction. Besu repeats the same set of validations when importing the block that includes the transaction, except the nonce must be exactly right when importing the block.
When adding the transaction to a block, Eurus performs an additional validation to check that the transaction gas limit is less than the remaining block gas limit. After creating a block, the node imports the block and then repeats the transaction pool validations.
Power of Consensus Mechanism efficiency
The concept of gas was introduced to maintain a distinct value layer that solely indicates the consumption toward computational expenses on the Ethereum network. The gas price required for miners to execute transactions. This fee is not constant, it fluctuates depending on network demand. A transaction can be delayed or outrightly rejected if it does not meet the miners’ threshold.
As side-chain of Ethereum, Eurus Network specific to solve the pain point of transaction speed and cost on Ethereum. We adapt Ethereum gas fee concept and modified it to enhance the user experience.
Since Eurus is POA protocol, only authorised validators allow act as node. There are lack of miners ‘s threshold factors. It allow Eurus with steady gas price, and even Eurus with equal demand with Ethereum, it still required that lower gas price.
The gas fee will pay by Sender and settled by Eurus network token EUN.
At initial stage, the min. gas fee of Eurus network is 0.00005 EUN.
Comparison of the Gas fee:
According above Ethereum Gas fee Screenshot from https://etherscan.io/gastracker;
If Tx: ERC 20 with some added metadata or Calling a function on a smart contract
Gas limit 65,000, the Gas price 154 gwei, then Gas fee will be 0.01001 ETH which equal to 6.07 USD. And the estimated confirmation transaction duration is 1min: 15s.
By Eurus economy network, there only required 0.00005 EUN gas fee which equal to 0.000005 USD. The estimated confirmation transaction duration is 2 seconds.
Every Eurus network participants, we named “Eurian” are the contributor of Eurus economic. Eurus have been reserved 20% of total supplied EUN as Financial Interest Reserve as to provide a passive income to them.
EUN also deploy deflationary logic enhance EUN scalability, and increase the liquidity circulation. For the purpose to balance Eurus market capital value and Eurus network ‘s rational position, the deflationary level measured by the economic value.
With the help of blockchain and Ethereum technology, Eurus is secured through a variety of mechanisms that include advanced cryptographic techniques. Blockchain helps in recording transactions of any digital assets exchanged between two unknown parties. Security aspects supported by blockchain are critical in ensuring transparency, confidentiality and protection against fraud. The following are the high-level security features of the blockchain.
Ledger: The ledger records every transaction in the blockchain. The ledger is a chain of blocks and information in the block is immutable. The distribution of the ledger is done to all the nodes.
Chain of blocks: Blockchain is a chain of blocks. Each block has the hash value of the previous block and this forms a chain. Correction to data in a block (say, n) will change the hash value and will not validate with the hash stored in the next block (n+1). This will be a chain reaction and affect the overall chain. Therefore, this characteristic increases the protection of sensitive data or information.
Transparency: Blockchain allows the transactions and the ledger state to be maintained and be managed transparently by sharing the ledger to all nodes and using consensus algorithms to reach consensus among all nodes. Consensus algorithms also ensure the ordering and execution of the transactions.
Cryptology: This enables secure transactions and makes blockchain immutable using hash based algorithms, which produce a fixed hash, based on the content of the block.
Data protection: Data protection is the process of safeguarding important information or data from corruption, compromise or loss. As blockchain is immutable, data cannot be compromised and appropriate measures like redundancy can be taken to protect it from corruption and loss.
Smart contracts: A smart contract is a computer code running on top of a blockchain containing a set of rules, on the basis of which the parties agree to interact with each other. If the pre-defined rules are fulfilled, then the agreement is automatically executed. No contract will execute without the network consensus.
Wallet Private Key: Eurus does not store users’ private key at the server, so no Eurus system operator is able to know the user’s private key. User payment password is securely stored on their mobile phones and the private key is recovered based on the payment password every time the user make a wallet transaction.
Eurus Wallet are supported web-based (PC and Mobile) , Mobile App version.
Scan to Download ( iOS version temporality do not support Mainland China User )
Mobile app device requirements:
Basic Requirement: Android 6.0
Best Performance: Android 10 or above.
iOS 9.0 or above.