1COIN Network Technical Overview

1COIN Network Asset Bridge is built using the substrate framework–The same framework used to build Polkadot network and the majority of associated networks/parachains.

Why Substrate?

The substrate framework gives us all the tools we need to build 90%+ of our network right out of the box. This includes full support for additional assets (similar to assets issued on Stellar network and ERC20 tokens on Ethereum). As well, all functionality related to operating a decentralised network with community governance is ready to include with only configuration parameters needing to be changed.

Perhaps the biggest reason we like substrate, is the ability to perform forkless runtime upgrades. Initially, 1COIN Assets will have what is known as “sudo” privileges on the network. This will allow 1COIN to upgrade the runtime to add additional features at anytime, without requiring node operators to update their clients.

We will be able to transition to full community governance via runtime upgrades, once the network has enough participation that we feel it is safe to do so.

Democracy, Bounties, Treasury, Staking

By utilising the substrate framework, we have access to many features will help to grow our network and provide incentive for others to help build it out.

For example, we can use treasury funds to support bounties to add support for additional networks, or to add features to our user interface.