Era Swap Network (ESN) is an EVM-compatible sidechain joined to the Ethereum Blockchain through Plasma Framework, and this allows the off-chain processing of Era Swap Ecosystem transactions and posting only the hash of the bunch to Ethereum. ESN helps to scaleDApps of Era Swap Decentralized Ecosystem to onboard the increasing numbers of users. Having a separate EVM-compatible not only greatly reduces the high network fee, but also improves the user experience to a higher extent and reduces the confirmation time issues faced by the current Era Swap Ecosystem DApps deployed on Ethereum.
Followings are the questions answered to guide user thoroughly about Era Swap Network (ESN)
What is Era Swap Network
Era Swap Network (ESN) is a PoS-based side blockchain on top of Ethereum blockchain using the Plasma Framework. ESN utilizes Proof of Stake (PoS) Consensus Mechanism –which is a fault-tolerant mechanism that is used in the blockchain system, to achieve the necessary consent on the single state of the network among distributed parties within the network.
Benefits of Era Swap Network
ESN offers Scalability, Speed, and more importantly Low-cost Transactions to users of Era Swap Decentralized Ecosystem. ESN testnet has the capability to go up to 500 Transactions in every 5-second at 98% Lower costs as compared with Ethereum Blockchain.Era Swap with ESN also offers the benefit of trustless security for users by remaining on an alternative chain.
The Core Strength of Era Swap Network
The Proof of Stakes Consensus Protocol (PoSCP) offers the core strengths via TimeAlly1LifeTimes Smart Contract and Node Validators. The consensus is designed to permit blockchain to function without being dependent on a single actor, as different participants in the network,offer their consent which makes Era Swap network.
Who can participate in ESN
Anybody who wants to have control over their growth, by accumulating Era Swap (ES) in long term to safeguard the future. To protect the interest of ESN and their own long term ES Staking’s should be the sole purpose and reason for TimeAlly1LT Holders to participate.
Why Stakers should participate in ESN Proof of Stake Consensus Protocol (Po SCP)
The value of ES will decrease and eventually will become inferior if the Era Swap Holders fails to stake and participate in Era Swap Network. Hence, the real motivation of TimeAlly Holders should be to focus on staking so they can withstand the inflation of the Era Swap and secure ESN instead of assuming profit just from the participation itself.
How to participate in ESN PoSCP
A new user can stake Era Swap in TimeAlly 1LifeTimes Smart Contract, in order to participate in ESN Po SCP. Existing users simply can Sign an accord signature on Era Swap Life/ KYCDApp for ESN Po SCP via TimeAlly 1LT Staking in order to migrate towards Era Swap Blockchain Network.
Why Choose Era Swap Network
The growth of ESN is solely dependent on the Era Swap Community and not on the Promoters/ Developers, since it is a decentralized blockchain network. In ESN, a person can create liquidity with their own efforts and can become solely responsible for the rewards he/she earns. So, the efforts of the participated ES Users makeEra Swap Blockchain Network Unique.
How a participant`s incentives will be secured in ESN
All the incentives are distributed via Smart Contract to the participants of ESN. That’s how participant`s incentives become secured in ESN by their own staking`s in ESN PoS through TimeAlly 1LifeTimes Smart Contract.
Who is responsible for Participant`s token Liquidity/ Profit/ Growth
The value of ES increases with individual efforts and responsibility by community members and participants. In Era Swap Blockchain Network, there are multiple opportunities available for ESN Participants to accumulate ES and increase its value; this contribution by everyone will be determining their own success and growth.
How ESN PoSCP Participants are protected against Inflation
Stakers receive TimeAlly1LT Staking Rewards which enables the incentive mechanism for stakers who can participate to secure Era Swap Blockchain Network. Also, ESN Newly Released Token Distribution is designed to take care of the network and withstand inflation, and also gives the additional Power Tokens on Its own Social Networking Platform — Swappers Wall, to incentivize new Era Swap Ecosystem Users.
How Proof of Stake (PoS) is protecting Era Swap Network
ESN is governed by Proof of Stake Consensus Protocol (PoSCP) through which Era Swaps are staked in Smart Contracts and that stakers agrees to participate in Era Swap Blockchain Network. Hence, due to Proof of Stake (PoS) participants can protect ESN.
Is there any risk of losing ES Tokens in TimeAlly?
The TimeAlly Holder is not exposed to any risk of losing their Era Swap that is staked, but only the possibility of not earning TimeAlly1LifeTimes Rewards. If the holder is abstained from TimeAlly1LT staking they both way forgo rewards and can suffer from Era Swap Network Inflation.
These were the points one should know before participating in Era Swap Blockchain Network, for more detailed informationcheck out Era Swap White Paper.
