Mainnet Ancon Protocol V1

IFESA
2 min readJan 30, 2022

Planned release and news

Note: V1 will be unaudited, last smart contract change shift the fees structure to be collected from DAG graphs networks

Testnet results

  • Node REST API had more ergonomic changes
  • Transfer ownership renamed to Merge Metadata
  • Replaced Rust Smart Contracts with a REST PUT. The technology made for smart contracts will be reused later with V2
  • ICS23 just works, we manage complete integration testing, meaning every error handling messages from the contract was tested

What’s new in V1

  • Ancon Protocol will be a complete, decentralized, protocol managed by a smart contract. If IFESA is no longer able to support it, you can deploy a fork and that’s it.
  • Protocol fees and incentives will be applied for V1 to DAG graph network owners. This will allow faster adoption and infrastructure rollout.

To summarize:

Ancon Protocol is a smart contract that stores ICS23 Vector Commitments hashes (accumulators), verifies proofs from a network of nodes or single node in a DAG sync strategy or using Graphsync. The clients (dapps) in this setup, query a node in the network and polls the smart contract for `HeaderUpdated` events, in every emit a hash is submitted to the smart contract by a relayer.

A `DAG Network` is a node in single node or in a Graphsync network, which is register in Ancon Protocol contract. Every root hash or accumulator update is read from the node and pushed to the smart contract by the relayer.

A `Node` is where both the merkle tree storage and DAG blocks are hosted. A Node is created with `ancond — moniker supernetwork — init`, which creates a new set of keys and credentials given a moniker name.

These keys are used when creating a relayer connection.

A `Relayer` is a NestJS backend app which is configured with the addresses of `Ancon Protocol` contracts, protocol fee tiers and incentives, an ERC20 token for payments, and a chain id .

Relayers can query either an anonymous last or signed last hast request fom a node and then relay to a protocol smart contract.

Merge metadata

This technology refers to

  1. Transfer of a metadata uri that you own and want to merge to a container NFT or another NFT that you own.
  2. You can merge one or more metadata uris if they are readable as DAG blocks or JSON compatible.
  3. Why is this useful? Because eg Dharma wallet holders only got 25 days to move their assets. Imagine same situation happened a nft startup going out of business. With merge metadata you can migrate your ownership of your metadatas

— Rogelio

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IFESA

Industrias de Firmas Electrónicas, S.A. (IFESA) es la primera empresa panameña dedicada a tecnologías basadas en algoritmos criptográficos, firmas electrónicas,