This page contains a list of important terms and their definitions used throughout the documentation.
This is an alternative name for a base-layer consensus network. Networks like Bitcoin, Ethereum, and Avalanche are examples of layer 1 protocols. The term layer 1 does not imply a particular ledger data structure, i.e., a layer 1 protocol could be either blockchain-based or based on a directed acyclic graph (DAG) topology.
Though most of the payments and activity in the Hypernet Protocol payments stack occur at layer 2 (see below), Hypernet Core relies on layer 1 for disputes, deposits, withdrawals, and other (hopefully rare) occasions.
Helpful links / primers on blockchain, smart contracts, and Ethereum below:
- 3Blue1Brown, Youtube: "How does bitcoin actually work?
- Intro to Ethereum
- Smart Contracts
- Ethereum Whitepaper
This is a colloquial term for any technology that inherently derives its security from a layer 1 network. Typically, layer 2 technologies are designed to circumvent the throughput limitations of the layer 1 network they are secured against and therefor are often referred to as off-chain scaling techniques. Some common layer 2 approaches that are under active research and development include: state-channels, zk-rollups, side-chains, etc.
Hypernet Core specifically uses the payment channel framework developed by Connext called "Vector". In-progress documentation and a quick start guide on Vector can be found at the below link.
Payment channels are a layer 2 technique that is a specialization of state-channels. They are designed specifically for scaling trustless value transfers without having to submit transactions directly to a layer 1 network. This is accomplished via a two-party consensus protocol in which digital signatures are shared directly between two participants via a p2p communication layer.
Non-Fungible Registries are the primary data structure of the Hypernet Protocol identity stack. NFRs are an extension of the EIP721 non-fungible token standard. NFRs are multipurpose and have extensible logic via registry modules. See the section on digital identity for more details.
Non-Fungible Identities are entries within an NFR. An NFI consists of the following data:
- A unique token ID number
- An optional unique label (usually human-readable, like a URL)
- A tokenURI
A non-fungible token (NFT) is a unique digital asset that exists on the blockchain. It can be owned and interacted with via the functionality provided by a crypto wallet. Simply put, an NFT consists of three parts: a contract address (the storage location on the blockchain), a token ID (a unique reference number within that storage location), and metadata (like a URL). Currently, the most common code standard for implementing NFTs is given by the EIP721 standard definition. Other consensus protocols that are not based on the Ethereum Virtual Machine (EVM) have developed their own NFT standard definitions.
The EIP20-compatible governance token (1 token = 1 vote) of the Hypernet Protocol (token symbol H). It's two primary use cases are for proposing and voting on
protocol upgrades via the DAO and as a collateral token in the layer 2 payments network.
A DAO is the entity and mechanism by which upgrades to the Hypernet Protocol are proposed and exectued on the blockchain. The Hypernet Protocol DAO is implemented in Solidity and currently deployed on the Rinkeby Ethereum testnet. More information about how governance is implemented in the Hyperent Protocol can be found here.