ONUS Chain's mainnet is built on the Proof of Stake Authority (PoSA) consensus mechanism. As a result, ONUS Chain offers fast transaction speeds, low transaction costs, and deterministic finality, which means that transactions can hardly be reverted like other networks. This is achieved while remaining decentralized and open source.
Why ONUS Chain?
ONUS Chain is a high-performance, scalable, EVM-compatible, and secure smart-contract platform built on BNB Application Sidechain (BAS).
It’s a friendly platform with a familiar interface accessible to all developers and users with low entry costs and gas fees.
ONUS Chain is supported by the ONUS community, which has more than 2.5 million users, along with a wide variety of tools and services for cryptocurrency. It is also supported by Rice wallet, with more than 1 million unique addresses. Furthermore, it is supported by many development teams and projects with the goal of converting and running their existing projects multichain on ONUS Chain after the mainnet has launched.
How does ONUS Chain work?
ONUS Chain is built on BNB Sidechain, which means, technically, it is a set of smart contracts written in any common programming language. The contract could be executed by anyone and worked in any way. ONUS Chain does not require the use of any specific set of programming languages or API standards.
In essence, ONUS Chain defines the primary structure and configuration of its blockchain using special templates. A template is a ready-made blockchain solution from which developers automatically get access to useful products such as a ready-made staking system, block explorer, SDK, API gateways, interfaces for governance, etc.
The current implementation of ONUS Chain is based on a modified version of BNB Smart Chain, which is why ONUS Chain provides high scalability and accessibility.
Where is ONUS Chain going?
The main goal of ONUS Chain is to build a blockchain with a flexible, convenient, and easy-to-use architecture to bring the mass adoption of Web3 and decentralized finance to mainstream usage.
As in the current version, all existing modules are built into the system smart contracts and the EVM. In the future, a system of modules will be created to allow the development of universal smart contracts and buses for interaction between modules and other parts.
ONUS Chain is designed with better architecture and security in mind. The recent exploits on other blockchain platforms illustrate the importance of having a diverse and decentralized group of validators and node operators securing the chain. The native token - ONUS will be used to incentivize other node providers to support decentralization on ONUS Chain.
Features of ONUS Chain
ONUS Chain offers efficient transactions with low costs by providing a deterministic transaction finality and asynchronous execution of smart contracts.
Using the Proof of Stake Authority consensus algorithm to secure the network, fees on ONUS Chain are inexpensive and sufficient to make it extremely expensive for malicious attacks to be carried out.
Ethereum developers are used to smart contract capabilities as ONUS Chain can support any smart contracts, DAOs, or DApps deployed on Ethereum.
Using the PoSA consensus algorithm, ONUS Chain can process a higher number of transactions per minute than other consensus algorithms, up to 4000 TPS.
ONUS Chain allows blockchains to communicate with each other, interoperate and transfer value, interchange assets, and services, and connect without running into the scaling issues inherent in some of the largest blockchains today.
Users can follow the deployment instructions to quickly and easily deploy to the ONUS Chain network for their own usage purposes.