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Ternoa Blockchain

What is a blockchain?

A blockchain is a digital concept to store data. This data can be anything from digital assets, account balances, and network states–stored on a ledger that every network user is free to access. This data comes in blocks, so imagine blocks of digital data. These blocks are chained together using cryptographic algorithms, making their data impossible to change and impossible to delete. A blockchain is essentially a digital ledger of digital assets ownership duplicated and distributed across the entire network of computer systems on the blockchain.

How does Ternoa work?

Ternoa is a layer 1 blockchain, it is open-source and built using the substrate framework. A layer-1 blockchain is the foundation of the blockchain architecture, which validates and executes transactions without support from another network.

Ternoa’s blockchain is:

  • Open source, decentralized and secured by a democratic consensus protocol.
  • Built with Substrate framework using Rust programming language.
  • Data records cannot be tampered with, updated or deleted.
  • Consensus mechanism: Nominated Proof-of-Stake (NPoS), it is a mechanism that allows CAPS holders (Nominators) to nominate Validators by staking their CAPS. This Validator will have the responsibility to run a Node that will validate transactions and keep the blockchain secure. Learn how to nominate validators and stake on Ternoa here.
  • Forkless upgrade with the ability to update the runtime logic without forking the code base. This enables Ternoa’s blockchain to evolve and improve over time.

Why Substrate?

Substrate is a Rust-based blockchain development framework created by Parity Technologies, the company behind Polkadot. The Substrate framework was designed to help developers launch a blockchain project in a streamlined and customizable way. They offer a substantial development base using Nominated Proof of Stake (NPoS), which relies on validators rather than miners to govern the blockchain. The framework also provides a substantial development base that is easily updatable and natively deployable on Polkadot, allowing projects to exchange information between other projects in the Polkadot ecosystem.