How it works
Governance & Operations
The organisation and governance of Swiss Trustnet International is laid out in the Articles of Association. The operating model of the TRUSTNET blockchain consists of three layers: node operators, validators and members of the association. Members of the association have the right to operate a validating node. All other node operators and validators need to be approved by the members of the association. All decisions are taken via smart contracts on-chain (currently via the TRUSTWISE APP).
Node Operators
A node operator maintains a copy of the blockchain data base. Each Individual or Legal Entity that conducts business on the blockchain has the right to become a node operator provided that 1/6 of the members of the association agree and that they agree to the terms and conditions, especially to the restrictions regarding the commercial use of blockchain data and privacy analysis. There are no limitations on node operators, provided that the number of operators doesn’t affect the relay times and the stability and availability of TrustnetONE. Node operators maintain their nodes at their own cost.
Validators
Node operators can apply to become a validator or or operate validating node. Node operators can apply to operate a validating node if they are willing to contribute the the diversity and high availability of the network. Validators receive a reward for their validation services depending on the availability of their nodes. Details on the reward structure are available on request. The association may limit the number of validators if it affects the stability of the blockchain. On the other hand, the association will guarantee a minimum number of validating node for the same reason.
Members of the Association
Members of the association represent the governing body of TrustnetONE. They are on equal footing and decide on the acceptance of applications for node operators, validators and new members of the association with different quorums. They also decide on their exclusion in case of blockchain abuse or misbehaving or violation of contracts or the articles of associations. They also decide on service providers and protocol changes. An update list of the quorums are available on request. Members pay a membership fee of CHF 500.00 p.a.
Service Providers
Currently, trustwise.io ag as the initiator of the blockchain is the main service provider on the TRUSTNET blockchain.
It also sponsors the initial set-up of the Association as well as its marketing. It pays for the use of CustomETH as occurred.
Applications from other service providers are welcome. Applications can be sent at info@swisstrustnet.org
Technology & Characteristics
Our private Blockchain is Ethereum based and runs with the
eco-friendly proof-of-authority Hyperledger BESU
- Best Block
- 0
- Validators
- 0/0
- Last Block
- 0s ago
- Avg Block Time
- 0s
- Gas Price
- 0 gwei
Financing & Incentives
The Association obtains most of its income through the sale of its capacity to service providers. Like other ETHEREUM blockchains, the capacity is managed through the gas price for transactions. However, Swiss Trustnet International will work with services providers on predictable block times and transaction cost hence invest in capacity increasing technologies. 50% of the revenues resulting from the sale of CustomETH will be redistributed to validators. The other 50% and other income are used to compensate members and board members, to finance infrastructure and especially innovation projects.