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Rails Network Swap Overview

Chain, Consensus Mechanism, Protocols, Interfaces

To provide clarity, let's distinguish between the different components of "Rails Network Swap", which might be confusing for new users:

  • Steam Exchange Inc: The company responsible for developing the Rails Network Swap protocol and the web interface.
  • Rails Network Blockchain: Rails Network is an EVM compatible chain with a proprietary hybrid consensus mechanism called Proof of Work by Authority (PoWbA).
  • PoWbA: Proof of Work by Authority demands a strict vetting process. Developers and builders will need to be authorized before being able to deploy to the Rails Network. This is a huge step towards bringing much needed accountability measures to the crypto ecosphere.
  • The Rails Network Swap Protocol: A collection of persistent, non-upgradable smart contracts that collectively form an automated market maker. This protocol enables peer-to-peer market making and swapping of ERC-20 tokens on the Rails Network blockchain.
  • The Rails Network Swap Interface: A web interface designed for seamless interaction with the Rails Network Swap protocol.