This document describes EtherZero or ETZ as the evolving platform for the implementation of a general smart contract development, with 0 transaction fees, high transaction processing capacity, near realtime transactions. By utilizing ETZ platform, developers can build more general-purpose decentralized applications, these applications can revolutionize current narrow scope of financial and commercial applications, ETZ can help blockchain and decentralized-services to reach a wider range of people and services, ETZ will change blockchain application industries. EtherZero extends the Gas mechanism of Ethereum, and extends the concept of Power on the basis of it, giving each account access to network resources that are positively correlated with the amount of coin it holds, and the speed of reply when such access is used. Thus, the characteristics of zero
transaction fee are carried out safely through mitigating possible attacks or hacks. Based on the knowledge of Masternode and PoW double-layer network and distributed autonomous architecture nature of DASH Coin and Clique protocol from Ethereum’s Proof of Authority Rinkeby testnet, an EtherZero consensus algorithm called MPoS (Masternode + PoS) is designed and implemented. This consensus algorithm enables standard transaction exchanges between accounts as well as empowering the community with autonomy to run masternodes. A pre-requisite to be a masternode participant is to hold an agreed amount of EtherZero coins and running it on a performance-compliant hosted server. Currently, based on network parameters such as MPoS consensus and properly set out block time, EtherZero can achieve a high degree of decentralization with a high number of masternodes and with transaction processing capabilities of above 1400 TPS.
ETZ