The transformational technology behind ndau has been three years in the making, focusing on security and dependability while offering innovative new features not found in other cryptocurrencies.
ndau was built by a veteran team of cross-disciplinary experts skilled at building scalable platforms.
- The Technology Roadmap
- A Secure and Convenient Wallet
- Rewards and Opportunities for Network Node Operators
- Validating Transactions with Chaincode
1. The Technology Roadmap
ndau is a native blockchain (not an ERC-20 token) with key features supporting buoyancy, governance, security and dependability.
June 2018: First Private Internal TestNet running with Blockchain Explorer
July 2018: v0.9 of ndau Wallet released
August 2018: ndau TestNet ready for production deployment
September 2018: Third Party Security Audit complete
October 2018: Genesis Blockchain
Next Milestone: ndau listed on cryptocurrency exchanges for purchase and trading
2. A Secure and Convenient Wallet
ndau is a digital currency designed to be a dependable and secure long-term store of value. The ndau wallet is a mobile phone application that provides a secure and convenient way for you to send, receive and manage your ndau.
With the ndau wallet app, you can create and manage an arbitrary number of addresses that you can use with the ndau cryptocurrency. To an outside observer, each of these addresses is unique and unrelated to any other. However, your wallet app can generate them in a way that allows you to recover and manage them safely, without having to memorize or record the individual keys. This technology is known as a Hierarchical Deterministic (HD) Wallet.
Your recovery phrase is created when you set up your wallet for the first time. This list of 12 words is used to cryptographically generate all the accounts and addresses in your wallet. If you lose access to your phone, this recovery phrase is what you’ll need to recover and restore your wallet on a new mobile phone.
Additional security and safety features include a scribble randomness generator that provides additional random inputs to help you create an even more crytographically secure recovery phrase and a wallet password that is used to encrypt and protect all the wallet data on your phone.
The ndau wallet is available for iOS and Android.
3. Rewards and Opportunities for Network Node Operators
You can choose to stake your ndau holdings to a network node of your choice to help support the health of the ndau ecosystem. Staking your ndau to a network node run by someone else (co-staking) earns you a recurring payment of ndau as a reward.
Individuals who run their own network node and stake ndau to their own node (self-staking) are known as node operators. Node operators receive node operation rewards as an incentive for them to improve the network performance and resilience of the nodes they run, and these rewards are paid from both transaction fees and from node operations fees deducted from EAI. This provides a financial incentive for enterprising individuals to run their own network nodes and for them to encourage other ndau holders to stake their ndau to them.
Only permissioned nodes will run at launch, but over time the running of nodes will be distributed among anyone interested in becoming a node operator without permission. As new nodes enter the ecosystem, node operators will have the opportunity to explore new business opportunities by differentiating and distinguishing themselves from other nodes in the network. These new business opportunities will encourage healthy competition between node operators as they work to encourage ndau holders to choose them for staking.
4. Validating Transactions with Chaincode
In blockchain applications, it is useful to have a way to ensure transactions follow appropriate rules. Many blockchain implementations have achieved this through smart contracts written in Turing-complete languages such as in Ethereum. While ndau sidechains will support such smart contracts, it's important for the ndau core chain to not suffer performance issues due to overly complex contract execution.
So we created a very simple way to validate transactions. This validation mechanism allows us to do things like require x of y signatures (known as multisig) and other special rules that make ndau safer and more stable. We can also use this validation mechanism to implement special cases like Blockchain Policy Council (BPC) only transactions. Our mechanism allows us to evaluate on-chain data and decide whether or not to allow a transaction.