In this section, we will provide a technical overview of the EVAIO ecosystem. For further information, please refer to the EVAIO whitepaper and Github repository.
EVAIO designed to enable vehicle owners to activate automatic data transmission to the Blockchain. In return they receive EVA tokens, as is illustrated in the above picture. The information transmitted to the block is safely encrypted and stored securely. EVAIO allows any third-parties - such as vehicle manufactures, service providers, DAPPs developers and other business entities - to access certain portions of the collected data after paying in form of EVA tokens. The base value of EVA tokens is formed depending on the value and amount of data. Even if no other application on EVAIO is developed, the potential data trade should still support the basic value of EVA.
To ensure that transactions on the EVAIO network happen swiftly and without cost, while not suffering from scalability or security issues, EVAIO cleverly integrates Blockchain and DAG.
In this structure, we will use the DAG layer to perform high-speed transactions on the vehicle IoT payment part. The Blockchain Layer is used to process smart contract transactions, summary of DAG transactions, and issuance of EVA tokens, cross currency conversion tasks. When a transaction is submitted to EVAIO, the blockchain does not verify or confirm transaction. Instead, it will analyze the type of transaction, submit high-frequency transactions to the DAG layer, and deal with smart contracts. Subsequently, code of the smart contracts will be transferred to the operating environment. And finally, the blockchain nodes execute it.
This kind of integrated structure gives full play to the high scalability of DAG and can better solve the high-speed payment part of EVPAY. In addition, Blockchain Layer and smart contracts ensure that EVA.IO can be used as a distributed database platform for DAPP development, therefore to carry more extensive applications for vehicle services to increase the use of EVPAY.
Another important reason for implementing the integrated DAG and blockchain architecture consists of making the system more decentralized. Therefore, the block producers and the DAG Peers don’t physically need to be the same node. We use the following imprecise analogy to describe the design of EVAIO to further decentralize power.
The block producer is like a finance director; DAG Peers is more like accounting; DAG witnesses like a third-party auditing agency. All three roles have their own responsibilities. Of course, the selection of these roles in EVAIO is determined by the DPOS algorithm.