MakeCents Network is scalable, distributed blockchain solution, aimed at disrupting the $420 trillion global payments without sacrificing stability. MakeCents Network aims at connecting businesses, financial institutions, and individuals, on a decentralized platform to send payments quickly, securely, and with transparency, all at a fraction of the cost of the existing payment systems.
The MakeCents Network is a scalable and distributed blockchain platform, designed for high volume payment transactions that can be facilitated with little to no intermediary. The necessary stability comes about through digitizing and decentralizing fiat currency (undertaken by selected users of the MakeCents Network); a proprietary economic mechanism pegs tokens that are designed to be exchanged quickly, efficiently, and securely on a multilayer decentralized network.
The MakeCents platform consists of three main layers: validation, exchange, and commerce. We deploy the versatility of distributed ledger technology (blockchain) and define a number of digital assets at each layer. These assets, using modern cryptographic methods, power different aspects in the platform and produce utility and provable security across the entire MakeCents ecosystem.
Commerce is a public chain designed for high volume transactions. The initial intended audience on this layer are consumers, retail merchants and financial institutions, but could also be beyond payments. In the use case of a mobile wallet, it manifests on mobile devices and on existing point-of-sale hardware.
The Exchange layer is a decentralized payment and clearing system to facilitate money movement in and out of the MakeCents Network. It is designed to support the Commerce layer by providing merchants, financial institutions, and other large liquidity providers a means to mutually source for liquidity.
At a high level, the Validation layer of MakeCents is a network of nodes connected in a peer-to-peer fashion that allows new information to be disseminated through a gossip or epidemic protocol. The network is public. Becoming a validator requires a proof of ownership of MakeCents Stake and a general-purpose computer that supports trusted execution environments (TEEs). The design and the usage of MCS allows the network to dynamically expand and contract in times of stress (elastic network diameter.)
Our unique process of utilizing Stake (MCS) results in a running set of N nodes with subset of validators V. Each validator has a chance to generate blocks while its stake is locked. If this time expires or the validator is too successful, then they are removed from the set V but remain in N. The result is that the set of V validators is constantly shifting as time progresses.
Through fine tuning the minimum amount of MCS required in addition to other parameters, the network is adaptive and elastic. During periods of high stress, this minimum requirement of MCS might be increased to reduce the number of validators; it might be relaxed when the load is less.