Discover Aura Network, a high-performance Layer 1 blockchain designed to drive Web3 adoption in emerging markets. Learn about its eco-friendly infrastructure, modular architecture, and key concepts like Validators, Delegators, and Governance.

Introduction Aura Network

Founded in 2021, Aura Network aims to create “the Internet of NFTs” by offering foundational blockchain infrastructure and developer tools optimized for emerging countries. Aura Network is a Layer 1 blockchain built using the Secure Proof of Stake (SPoS) consensus mechanism, ensuring high throughput, low fees, and eco-friendliness. Leveraging Cosmos SDK modules, Aura Network facilitates seamless integration of decentralized applications (DApps) and cross-chain capabilities.

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Key Features of Aura Network

Aura Network provides the infrastructure and tools needed to unlock the full potential of Web3 through an eco-friendly, high-performance blockchain optimized for emerging markets and NFT use cases. Its modular architecture allows the network to evolve rapidly through community governance.

Modular Architecture

Built using the Cosmos SDK, Aura Network features a modular architecture that allows for easy upgrades and the integration of new features over time.

High Throughput

Designed to process thousands of transactions per second, Aura Network uses its proprietary consensus layer to achieve high throughput.

Low Fees

Transactions on Aura incur minimal fees, making it ideal for users in emerging markets.

Eco-Friendly Consensus

The Secure Proof of Stake (SPoS) consensus mechanism is highly efficient, requiring minimal energy compared to other protocols.

Cross-Chain Capabilities

Aura Network supports interoperability with other blockchains through standards like IBC, enabling the seamless flow of assets, data, and value across different networks.

Developer Tools

Aura Network offers tools such as Aura Playground for smart contract development and AuraScan for transaction exploration.Aura Network provides tools like Aura Playground for smart contract development and AuraScan for transaction exploration.

Focus on NFTs

As a foundational platform, Aura Network aims to drive blockchain adoption through practical NFT use cases for digital ownership and content monetization.

Emerging Market Optimized

The platform is designed to overcome connectivity and UX challenges prevalent in developing economies.

Concepts of AuraNetwork

Validator

Validators are Aura holders responsible for committing new blocks to the blockchain. They participate in the consensus protocol by broadcasting votes that contain cryptographic signatures.

Validators must also participate in governance by voting on proposals and are weighted according to their total stake. Validators can bond their own Aura and have Aura delegated to them by token holders (delegators). Both validators and their delegators earn Aura through block provisions and transaction fees.

Delegator

Delegators are Aura holders who cannot or do not wish to run a validator node but can still participate in the staking process by delegating Aura to a validator.

Delegators share in the validator’s revenue but also share the associated risks.

Mint

Minting refers to the process of creating new blocks and recording information on the blockchain via the PoS consensus mechanism. This can include minting NFTs, tokens, or new cryptocurrency coins.

Commission

Validators and delegators earn revenue through block provisions and transaction fees. This revenue is divided among validators’ staking pools according to each validator’s weight, and then among delegators based on their stake. Validators apply a commission on delegators’ revenue before distribution.

Staking

Validator

Validators can have three statuses:

• Unbonded: Not part of the active set and cannot commit blocks or earn rewards.
• Bonded: Part of the active set, can commit blocks, earn rewards, and receive delegations.
• Unbonding: Left the active set due to slashing or insufficient bonded tokens, requiring a waiting period before tokens are transferred.

Delegation

Aura holders who cannot commit blocks may delegate Aura coins to validators and receive rewards.

Slashing

Slashing penalizes validators for malicious activities to maintain network integrity. Penalties vary from token deductions to banning the validator. Aura Network implements two main types of slashing:

• Liveness (Downtime) Slashing: For not signing enough blocks within a specified time frame.
• Double-sign Slashing: For dishonest behavior like double-signing.

Governance

Token holders can vote on proposals through a structured process:

• Proposal Submission: Users submit proposals with a deposit.
• Vote: Bonded Aura holders vote on proposals once the minimum deposit is reached.
• Claim Deposit: Users can refund their deposits if the proposal is accepted or never enters the voting period.

Vesting

Aura Network defines vesting accounts initialized during genesis with a starting balance, vesting start and end times, and vesting periods. Types of vesting include:

• Delayed Vesting: Keeps coins locked until a specified time.
• Periodic Vesting: Coins vest periodically according to configurable periods and amounts.

Conclusion

In conclusion, Aura Network pioneers blockchain innovation for emerging markets with its eco-friendly infrastructure and focus on high efficiency. Through key concepts like Validators, Delegators, and Governance, it fosters participation and growth. With practical NFT use cases and community-driven governance, Aura Network aims to accelerate global blockchain adoption, promoting inclusivity and opportunity.

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