BlockConvey Protocol Components

We define the network by understanding the following terms:

Server: A server is any entity running the BlockConvey Server software which participates in the consensus process.

Authority Node: In our network, either the development team will decide how many authority nodes are needed and who will run them, or the community will vote for the decision (once permissioned public). These nodes’ tasks are the same as full nodes in other networks.

Master Node: Master nodes cannot add blocks to our blockchain. They only serve to validate and record transactions.

Light Node: This is a lightweight node. This type of node communicates with the blockchain while relying on full nodes to provide them with the necessary information. As they do not store a copy of the whole chain, they only query the current status for which block is last and broadcast transactions for processing.

Last-Closed Ledger: The last-closed ledger is the most recent ledger that has been ratified by the consensus process and thus represents the current state of the network.

Open Ledger: The open ledger is the current operating status of an authority and master node (each node maintains its own open ledger). Transactions initiated by end-users of a given authority server are applied to the open ledger of that server, but transactions are not considered final until they have passed through the consensus process, at which point the open ledger becomes the last- closed ledger.