Components that implement blockchain and consensus protocol
The Energy Web Chain is comprised of different components that provide the functionalities determined by the blockchain’s protocol.
Broadly speaking, protocols are defined rules and standards. Internet protocols, like HTTP protocol for example, define standard procedures for the transfer of data over the internet.
A blockchain network is no different. In a decentralized and self-executing system like a public blockchain, protocols are of significant importance in establishing how the system works, and then ensuring that the system continues to self-execute as designed.
Protocols exist to determine specific aspects of blockchain behavior, such as:
- How transactions are validated
- Who gets to validate transactions and when
- How validators are compensated
- How peer nodes interact with each other
The system components below ensure that the Energy Web blockchain adheres to Ethereum's protocols, and the protocols established by OpenEthereum's Proof-of-Authority consensus engine. (OpenEthereum is the Ethereum client that is used by the Energy Web Chain. You can read more about the purpose of Ethereum clients here.)
System Contracts are smart contracts that implement the Authority Roundtable Proof-of-Authority consensus engine protocols. Read more about Energy Web's system contracts here.
The validator node architecture monitors validator behavior to ensure consistent and secure blockchain operation. Read more about the validator node architecture here.