A blockchain is a digital ledger of transactions, distributed across a network of computers. Each block contains a list of transactions, and these blocks are linked together in chronological order to form a chain. What makes it unique is its decentralized and transparent nature: every participant on the network can see the entire chain and verify its validity, and once information is added, it's nearly impossible to alter without the consensus of the network. This makes blockchain a trusted and verifiable system without the need for central oversight.
Blockchain technologies are often described as layers, with each subsequent layer building upon the speed, security, and reliability of the previous one. The Switch ecosystem is built on top of the following layers:
Layer 1: Switch Blockchain
The Switch Blockchain is a reward chain that operates on a fork of the Ethereum blockchain and uses a Proof-of-Authority consensus mechanism. This layer is governed by the DGF based on a duly ratified charter.
Layer 2: Switch Ledger Technology
The Switch Ledger Technology, or the software and accounting layer comprising the source code of the Node Network DGF, and the operably associated smart contract(s) built on top of the Switch reward chain network, consults with the licensed software nodes providing input data and/or confirming data, information, or actions operating with the Switch Ledger Technology to facilitate data validation on the Switch reward chain. Actions of the nodes lead to points, which then lead to the Switch Blockchain distribution of digital rewards. The accounting on the ledger is facilitated by the nodes and added to the blockchain.
Layer 3: Switch Interface, Dashboard, and Other Technology
The technology in this layer allows Node Owners to interact with the other layers and includes a non-custodial wallet for managing digital blockchain assets, useful information about nodes and rewards, and tools for accountability and transparency.
For additional information about the Switch blockchain please visit the DGF website: