Convex Global DLT: A hosting infrastructure and decentralised ledger for the Next Generation Internet

ABOUT THE PROJECT

Convex Global DLT: A hosting infrastructure and decentralised ledger for the Next Generation Internet

Convex Global DLT provides an energy efficient and scalable platform for the ONTOCHAIN Network. It supplies documentation, ecosystem services, training and API implementation support for selected ONTOCHAIN use-case partners. The network operates with any number of peer operators that confirm the global state in real time at thousands of transactions per second.

Elements of the infrastructure are:

Decentralised and permissionless peers running Convergent Proof of Stake consensus
APIs for connecting with partner systems
Full stack development system for open-source developers
Documentation and training for partners
Strategic advice for managing on-chain and off-chain storage

Motivation for the project:

Existing blockchain systems cause unsustainable use of electrical energy or are unfit for scaling up for fast and secure consumer retail decentralised ledgers. Convex Global DLT supplies the infrastructure for an ontological solution to the problems of interoperability.

Generic use case description:

Convex Global DLT network has:
• Test network
• Sample wallets
• Sample game engine
• Sample personal coins
• Sample NFT marketplace
• Sample automatic market maker
• Sandbox for developers
• CLI for running peers
• Network analytics

Essential functionalities:

Convex Global DLT provides the APIs to a real time, scalable, immutable, decentralised Layer1 ledger infrastructure. It creates and maintains a global state via the Convex Virtual Machine that runs smart contracts written in Convex Lisp. Enhanced security features reduce the risk of front-running, double-spending, 51% stake attacks and weaknesses created by the need for bridging and sharding.

How these functionalities can be integrated within the software ecosystem:

The decentralised ledger can be used to secure any data of value to businesses, citizens, academia and public services. It provides an Internet of Value exchange for fungible and non-fungible tokens via smart contracts.

Gap being addressed:

Global state is essential for building decentralised economic systems. Information such as asset balances, and publicly verifiable data must be available to network participants on a decentralised basis, without being subject to centralised control or arbitrary modification.

Expected benefits achieved with the novel technology building blocks:

Reduced financial friction by the elimination of intermediaries – especially cross-border. Events in complex logistics chains can be validated and payments made via smart contracts. Convex Global DLT is suitable for high data rates from energy management tools and IoT devices.

Potential demonstration scenario:

The Convex Global DLT project provides an underlying infrastructure that ONTOCHAIN use-case partners are free to use in their solution scenarios. Convex Global DLT demonstrates the power of the Convergent Proof of Stake algorithm that converges a global transaction order in milliseconds with zero block delay. The Convex Virtual Machine achieves real time settlement of economic transactions with 1M+ transactional state updates per second. It truly supports the Next Generation Internet.

PROJECT OUTCOMES

Convex provides an energy efficient and scalable platform for the ONTOCHAIN Network

Demo:

Repositories:

GitHub:
Convex Core: https://github.com/Convex-Dev/convex
Convex Tooling: https://github.com/Convex-Dev/convex.cljc
Convex Lisp Tooling: https://github.com/Convex-Dev/lab.cvx

Documentation:

https://github.com/Convex-Dev/lab.cvx/tree/main/module/example

TESTIMONIAL

Unlike other teams from this third open call, we have entered the ONTOCHAIN ecosystem as a research project under the sustainability category. In that regard, our coaches have helped us throughout the discovery process to ensure that our plan for deliverables was adding value to the status quo, displaying our joint efforts towards sustainability and efficiency. Retrospectively, we can assert that our collaboration has indeed been synergistic: we have accomplished our goals and the tooling produced has already been proven to be of great benefit for the Convex core technology and the future value of DLT throughout Europe.