Blockchain Integration Democratized: Graphite Network’s Trust-Driven Blockchain Enables Income Opportunities for Entry-Point Nodes

Graphite Network launched a L1 blockchain that lets entry-point node integrators earn 50% of transaction fees passing through their transport nodes. 

This low-barrier income model empowers businesses and developers to earn directly from the blockchain, without needing extensive server setups.

Transport nodes are the ones that keep things moving on the blockchain, making sure transaction data gets from point A to point B smoothly. They don’t require the heavy computing power and resources, and therefore, they can be run by users with minimal setup.

Despite this, most blockchains don’t offer any rewards for running these nodes, leaving a huge potential contributor to the network unrewarded. Networks like Ethereum, Solana, and NEAR Protocol reward only validator nodes (those that process and validate transactions) due to the significant resources required to run them. 

High-end hardware starting at $2,500, fast processors, and substantial monthly costs on top of that to operate ($240 and up) all make validator nodes inaccessible to the average user. Consequently, only those who can afford these systems see any real benefits, leaving out the broader community of participants.

By giving rewards to all types of nodes, Graphite makes the network fairer and more accessible, so literally anyone helping to keep this blockchain running can earn a share.

Reputation-Based Blockchain to Balance Security, Anonymity and Transparency

Graphite’s blockchain brings a reputation-based security system to help clean up the crypto space, all while keeping privacy intact.

“For many people, crypto still feels uncertain—there’s a lack of trust, fears of financial loss, and concerns about scams,” Marko Ratkovic, the CTO at Graphite Network shared in the company’s press release. “While this is a complex problem, Graphite marks a huge step forward in blockchain evolution by merging blockchain technology with a trust-based, inclusive financial model that enables both TradFi and Web3 users to participate securely,” he added.

Within Graphite’s reputation-based framework, users’ credibility is assessed through a Trust Score. This metric considers factors, such as account activation time, KYC level, transaction history, and the trustworthiness of accounts they’ve transacted with just to name a few. Trust Score allows users to assess the reliability of accounts they want to interact with.

Cutting down on fraud from fake profiles, Graphite makes sure users stick to one account, requiring each to pay a small fee to activate their wallet and send transactions.

While KYC verification is still part of the reputation system that helps establish trust without compromising transparency, it is designed to provide users with data privacy and reasonable anonymity. 

All interactions with KYC centers take place off chain, with only the final KYC level being recorded on the network. Graphite uses Zero Knowledge Proof (ZKP) technology to check if the users’ personal information is authentic, without revealing the information itself. 

Plus, Graphite introduces three KYC tiers, with social media verification available in the current release, giving users flexibility in managing their privacy. And with KYC transaction filters, users can further decide who they want to interact with based on the level of verification they designate. 

This means both users and businesses can filter incoming transactions to only allow interactions from more trusted accounts, reducing the chance of fraud or unwanted exposure.

High-Volume Transactions and Reasonable Fees

With the ability to process up to 1,400 transactions per second (TPS) and confirm transactions in under 10 seconds, Graphite offers the speed and scalability that high-traffic use cases demand.

Most blockchains are as slow as a sloth, but we are not one of them. Graphite got 1400 TPS which is slightly less than Visa(1700 TPS), but significantly more than ETH(25 TPS). All thanks to the PoA consensus, which also provides a fixed network fee and excludes gas rates pic.twitter.com/aUdw6VZa8V

— Graphite Network (@GraphiteNetwork) October 6, 2022

For blockchain to truly reach mass adoption, it needs to handle high volumes of transactions quickly and affordably. To put it into perspective, Graphite far surpasses Bitcoin, which handles only 5-7 TPS, Cardano, which handles 250 TPS, and Algorand with its 1,000 TPS.

Thanks to its high network capacity, fees are typically close to the minimum, meaning users can manage their costs effectively without surprise expenses.

As for developers, they can take advantage of Graphite’s compatibility with the Ethereum Virtual Machine (EVM) by easily migrating their existing Solidity smart contracts – without having to overhaul their applications – onto the network powered by a more efficient Proof of Authority (PoA) model.

The Future Belongs to Fair, Secure and Private Networks

Too often, blockchain networks are structured to benefit a small, privileged group capable of running validator nodes, while the majority of users get little to nothing for supporting the ecosystem. 

Graphite, however, introduces a more equitable approach by rewarding entry-level nodes as well, allowing users with minimal setup to earn from transaction fees, all while keeping privacy in check with the reputation-based security system, and offering the low-cost, scalable transactions that can bring Web3 mass adoption closer.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.