Why is the Strategist fundamental to the ChainsAtlas network?
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ChainsAtlas is a new blockchain technology that leverages virtualization and multiple distributed ledger technologies with a smart contract feature to create a cross-chain decentralized homogeneous network for distributed software and data processing.
Two agents are crucial to enabling clients to execute their software (from now on referred to as bytecode) in ChainsAtlas’ decentralized network: the Strategist and the Pythia. In this article, we’ll focus on the first one. Here is an overview of some other core components of the network that are needed to understand the Strategist’s role fully.
Athena: The governance token that gives voting rights and staking rewards in Hermes (utility token).
Hermes: The utility token generated by the staking of Athena and used to pay for smart contract execution on the network.
Client: The user who wants to execute software under a set of preferences and conditions in exchange for an amount of Hermes.
Pythia: The node operated by a strategist. It enables cross-chain communication between various units and evaluates and oversees strategy execution. To run a Pythia node, one must stake Athena.
Note: The term” Pythians” refers to a collection of Pythia
Management unit: The smart contract that manages Hermes and Athena balances, verifies consensus over the optimal strategy, oversees elections, and controls the virtualization units.
Proof-of-Strategy: A novel, useful Proof-of-Work where the Strategist earns Hermes by providing the optimal strategy for executing the client’s software under a set of constraints.
The Strategist role
Strategists are the counterpart of clients. Once a client submits an offer to execute a given bytecode, the Strategist considers the bytecode provided and its metadata to create a strategy to execute it on the blockchain. The metadata is a set of constraints and preferences defining blockchains the bytecode is allowed to run on. The client pays the Hermes fee for executing the strategy upfront, and the management unit locks it to settle gas fees on other blockchains. After the strategy execution, the management unit splits the remaining amount of Hermes to:
- reward the Strategist
- fund the OLYMPUS treasury
- be burned to compensate for selling pressure against other blockchains’ tokens.
In essence, the Strategists support the whole ChainsAtlas network by ensuring that every client gets its bytecode executed in the most time and cost-effective way possible.
How ChainsAtlas incentivize decentralization among Strategists
Given the stochastic nature of the optimization algorithms used for strategy selection, every Pythia comes with a default optimization algorithm (DOA) that has a chance to provide valid strategies even if the node is not running on top-tier hardware. The DOA reduces the hardware performance impact on the Proof-of-Strategy protocol, increasing decentralization and opportunity.
If you have read this article until now, be sure to register for the Athena airdrop and become one of the first Strategists of the network to help make Web3 the new paradigm for software applications!
Click here to become one of the early ChainsAtlas’ Strategists and participate in the Athena airdrop.
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