Unveiling the Regn Subnet: A Game-Changing Decentralized Network
Greetings fellow Hydrolites and Keresians!
The first weeks of the new year have passed and we here at Project Hydro have been busy as ever with development of the Hydro Ecosystem.
Today we would like to introduce our plans for the Regn Network and its integral part in the Hydro Ecosystem.
The Regn Network is a public, decentralized blockchain subnet that leverages the Ethereum Virtual Machine (EVM) to execute smart contracts and run decentralized applications (dApps).
Regn is a subnet of the Avalanche mainnet, with its decentralized nature and very robust hashrate that will by default ensure the security and stability of the Regn Network.
Regns main coin, Regn, is used to facilitate transactions, pay for gas fees, and incentivize network participation.
The Hydro coin can also be used on other public blockchains through the Hydro Bridge, where users can swap Hydro Coins for Hydro Tokens, making the Hydro ecosystem interoperable between different public layers apart from the Avalanche mainnet.
Before we talk about Regns Consensus let’s first talk about what the differences between a mainnet and a subnet are and the advantages it presents for Hydro.
A mainnet and a subnet are both types of blockchain networks, but there are some key differences between the two.
A mainnet, or main network, is the primary and original blockchain network for a particular cryptocurrency or blockchain platform. It is the production version of the network where real transactions take place, and the native cryptocurrency can be used for buying, selling and transferring value. In a mainnet, all the transactions are recorded permanently in the blockchain ledger and it is responsible for the security of the network and maintaining the network’s consensus.
On the other hand, a subnet is a separate blockchain network that is connected to the mainnet. It allows for interoperability and scalability by running parallel to the mainnet, and transactions on the subnet are recorded in a separate blockchain ledger. The subnet can have different consensus mechanisms and can be used for specific use cases that the mainnet is not suitable for.
For example, subnet can be used for creating a platform for a specific industry, to handle specific types of transactions, for testing, for scaling or for running a Web3 Game like Keresverse. Subnet transactions are pegged to the mainnet and can then be moved to the mainnet when necessary.
With a better understanding of what a subnet is in relation to a mainnet, let’s discuss Regns consensus.
Regn utilizes a proof-of-stake (PoS) consensus algorithm to validate transactions and add new blocks to the subnet. In this system, token holders “stake” their Hydro tokens to participate in the consensus process and earn rewards. This is in contrast to a proof-of-work (PoW) system, where miners earn rewards through the use of computational power to solve complex mathematical problems.
The Regn subnet supports smart contracts written in Solidity, the most widely-used language for writing smart contracts. It also includes a decentralized exchange, Hydroswap, that allows users to trade Hydro and other ERC-20 tokens directly from their wallet.
Regn has a decentralized governance model that enables token holders to vote on subnet upgrades and other important decisions. The Regn subnet is particularly focused on the gaming industry, offering features such as in-game item trading, game licensing, and player-owned marketplaces. These features are demonstrated through the Regn-powered Web3 FPS game, Keresverse, which rewards winners through tactical gameplay and allows players to fully own and trade in-game items represented as NFT skins on the blockchain.
To ensure that the Regn Network can handle a high volume of activity, its block time is set at 10 seconds and its block size is adjustable up to a maximum of 10MB. The Regn subnet is also continuously exploring ways to improve scalability, including solutions such as sharding, off-chain transactions, layer 2 solutions (e.g. plasma, state channels), and improved consensus algorithms. This will guarantee smooth operation of Keresverse even during the most stressful environments.
The Primary goal of Regn is to be the medium upon which Keresverse grows and evolves, facilitating all of its on-chain transactions before validating with Avalanche.
The Regn Network aims to provide a secure, scalable, and feature-rich subnet for developers and users to build and use decentralized applications, particularly within the gaming industry. This is demonstrated through its integration with Unreal Engine 5 (UE5) and the Keresverse marketplace, which showcases the capabilities of blockchains in trading UE5 assets and enabling player-owned marketplaces within UE5 games.
In terms of non-fungible tokens (NFTs), Regn offers a decentralized marketplace for buying and selling NFTs using Hydro or ERC-20 tokens, as well as tools for minting and storing NFTs and support for NFT-powered dApps.
The Regn Network is compatible with a range of wallets, including hardware wallets (e.g. Ledger Nano, Trezor), desktop wallets (e.g. MyEtherWallet, Parity), mobile wallets (e.g. Aegir Wallet), and web wallets (e.g. MetaMask, AegirWeb). This allows users to securely store and manage their Hydro and other digital assets.
Now we have touched briefly upon the architecture of Regn. We are currently writing the Regn whitepaper which will be released together with a brand new Regn network website in the near future.
Exciting times lie ahead of us, fellow Hydrolites and Keresians!
Thank you for your continued support.