Soloneum

February 23, 2024
General, Technology

Welcome to Soloneum!

Soloneum is pioneering a new era in the realm of digital finance with it’s novel XEVM technology built on it’s secure layer-1 resource efficient Proof of Work blockchain.

This groundbreaking technology not only enables global-scale capacity but also ensures backward compatibility with EVM systems and Solidity smart contracts. We enable DeFi projects and assets to be ported over from existing EVM blockchains in a matter of minutes.

At the core of Soloneum’s mission is the ambition to solve the wide-ranging problems found in cryptocurrency, including: the inability to scale, ineffective governance models, subpar economics and poor utility. Soloneum envisions the creation of a vast, self-sustaining system that promises to deliver enormous value to people across the globe. Our goal is to seamlessly integrate with existing legal and financial frameworks to bring the enormous wealth of assets that have yet to have been brought to the blockchain.

Soloneum is more than a network, it’s a revolution in digital financial applications. We invite you to be part of this journey from day one and become a citizen of this incredible experiment and help us shape the future.

Paul Church

We’d like to provide you a brief overview about what Soloneum is capeable of. We’ve got much more up on or sleeves, that we’ll share with the community accordingly.

Key highlights:

  • Novel XEVM Scaleable technology,
  • Layer-1 resource efficient Proof of Work Security,
  • Compatibility with EVM and Solidity,
  • 20,000 TPS estimated at it’s core, R&D for more,
  • Dynamic and adaptive Economic Model, halving schedule for greater coin distribution and faster growth.
  • Sound and responsible Timocratic Governance model,
  • Synthesis with existing legal & financial frameworks,
  • Simplicity in User Experience.

We aim to address the scalability issues of EVMs by incorporating our new XEVM technology based on advanced computing research and parallel processing techniques. We have reengineered the virtual machine to support full parallelism while maintaining backward compatibility.

Pease find below a high-level overview of the technology on which Soloneum is built:

  • XEVM: Embarrassingly parallel transaction processing: In the context of Ethereum and other EVM-based systems, transaction processing and scalability have been perennial concerns, that have limited Ethereum to just 14 transactions per second. Our innovative approach inspired by the UTXO model, termed ‘Keyframe Chains’ is added as an additional constraint to Soloneum EVM system. By embracing the ‘Keyframe Chains’ model, Soloneum unlocks orders of magnitude more scalability for the EVM.
  • Compatibility with EVM and Solidity: Soloneum is backwards compatible with EVM systems and solidity smart-contracts. DeFi projects and assets can be ported over to Soloneum in minutes.
  • Resource efficient proof-of-work: Thanks to the annual citizen vote, coinholders get to decide how much the network will spend on security, putting the decision making power into the hands of those that it impacts most in an open and dynamic system.
  • Dynamic and Adaptive Economic Model: Soloneum will feature an adaptable and sound economic structure, moving beyond the rigid models of existing cryptocurrencies. We plan to introduce mechanisms that can respond to market demands via direct Timocratic governance.
  • Synthesis with existing legal & financial frameworks: We will enhance blockchain’s integration with the real world by providing options to link digital keys to identities and smart contracts to legal contracts. This approach aims to transition blockchain use from limited applications to significantly impacting financial operations and unlocking the full potential of the global economy.

There are many more exciting aspects of the technology we’ll dive into soon. Think about No Miner Front-running, No Blind Signing, Proof-of-Fee Security Assurances, Block Compression, and much more. Stay tuned for more in-depth articles about these technologies.

Thank you very much for reading this article. We look forward to seeing you around in our community.

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