What is PalletOne?
PalletOne adopts Jury consensus mechanism which combines the whole network consensus and part consensus to ensure the efficiency and safety of cross-chain smart contract execution. Besides, Contract Template and Token Abstract Layer are introduced to decrease the difficulty and complexity of contract development. PalletOne makes inter-chain transactions possible by decoupling the state of contracts from the blockchains. Developers can choose the language they are familiar with and the platform they need. PalletOne interacts with mainstream underlying blockchains and accomplishes interchain interaction.
In PalletOne, we only need a group of verifiers to execute one contract. This group of verifiers is called Jury, which consists of individual verifiers called Jurors. Similar to the IP protocol that separates the physical layer, data link layer from transport layer and application layer, the PalletOne fully decouples the Dapp, contract status, and underlying blockchain three-tier architecture.
PalletOne contract supports multiple blockchains. Through Jury Consensus and Adaptor Layer, it is possible to build a contract that can interact with different blockchains simultaneously, so users can trade tokens from different blockchains in one PalletOne contract invocation to make the inter-chain token exchange distributed, atomic, and immutable. The PalletOne contracts of inter-chain token exchange can be executed in a multi-tasking way by different groups of selected Jury, which can effectively reduce the congestion of the whole network compared with consensus throughout the whole network. We plan to use PalletOne VM as the core technology to build the contract executable and execute the contracts, which makes the contract execution more secure and developers can choose the language they are familiar with and the platform they need. Token Abstract Layer and Contract Template ensure the convenience and security of Dapp development further.