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The Consensus Model

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What Makes Consensus Different on 1Money?

Unlike traditional blockchain networks that rely on bundling transactions into blocks, the 1Money Network achieves consensus using a Byzantine Consistent Broadcast (BCB) protocol, layered atop a Byzantine Fault Tolerant (BFT) system. This modern approach allows the network to provide instant transaction finality—payments are confirmed within milliseconds, not minutes—making it exceptionally well-suited as a global stablecoin payments network.

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How Does It Work?

Key Concepts:

  • No Blocks, Only Consistency: Instead of building blocks, the 1Money Network operates as a broadcast-based protocol. Every legitimate transaction reaches finality at the individual transaction level once a quorum (two-thirds or more) of permissioned validators have signed it—no need to wait for a block to be produced.

  • Validators: These are permissioned nodes run by Organizations vetted for compliance and reputation. They collectively run the consensus protocol and check transactions for correctness, applying network rules to preserve security and performance.

  • Quorums & Certificates: Progress on the network is dictated by signatures: when enough validators sign a transaction or a state update, a “certificate” is formed, attesting to its validity. This process ensures trustless acceptance of payments and state without centralized control.

  • Checkpoints: Periodically, the network forms a “checkpoint,” which is a snapshot of the current state (all accounts, balances, etc.). Validators cryptographically agree on checkpoints using certificates. This allows the network to efficiently discard old data and remain scalable—even at high throughput rates.

  • Epochs: The set of active validators remains fixed during an epoch. Validator set changes or governance updates are coordinated with checkpoints, but never disrupt transaction processing or settlement.

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What Problems Does the 1Money Consensus Solve?

  • Instant Finality: Each valid transaction is final as soon as the network sees a sufficient number of signatures—no risk of reversal, no confirmation delays.

  • Scalability: By leveraging messaging and horizontal sharding (where each additional node increases network capacity), 1Money can handle over 250,000 transactions per second. The design easily scales to meet global payment demand.

  • Predictable Cost: Fees are paid in the same token being transferred; no special “gas” token is required. This makes transaction costs simple and fair.

  • Network Liveness: The BCB protocol is designed to handle validator failures or network issues. If some validators go offline or act maliciously, the honest majority can still move the network forward.

  • Resilience and Compliance: All validators must undergo thorough KYC/AML processes for permissioning, ensuring network safety and accountability at scale.

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Why Does This Matter?

The result is a payments network that is faster, safer, and more transparent than legacy blockchains—a key advantage for stablecoins moving at the speed of commerce. Users get real instant settlement with no risk of “reorgs,” lost funds, or surprise fees. High scalability ensures 1Money can support everything from small consumer payments to major institutional transfers on a global scale.

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