Today’s blockchain encounters the following challenges: scalability and
interoperability etc. To address these challenges, we propose PalletOne, Protocol for
Abstract-Level Ledger Ecosystem.
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.