ORION
The ORION project (Onion Routed Incentivized Open Network) is a blockchain project creating a new market for bandwidth peering over the Internet. It uses incentives similar to Bitcoin to reward utility contributors for providing bandwidth, and provides a secure peer-to-peer distribution network to serve data requests, with that same contributed utility.
Introduction
This document is a full summary of the custom blockchain project codenamed “ORION” being developed by Monetsu Technology. It contains general information about the technology itself and the prospects for its further development.
Outline
Project ORION was created to develop a custom blockchain application for the administration of an incentivized and open bandwidth peering network. It could be loosely described as a commercialized, peer-to-peer content delivery network (CDN), or “a blockchain for the Internet”.
This application is designed to address utility peering challenges faced by existing large scale, multi-provider networks such as the Internet, as well as how mesh networks can monetize and incentivize participation. It offers significant administrative and operational cost savings through its autonomous operation, the high security and reduced risk of a decentralized application, and increased market efficiency through a standard peering protocol.
It works by using a peer-to-peer data routing network that is capable of securely tracking peer performance, to relay external data requests and content through that network. Resource contributions by peers in the network are accounted for with credits in a distributed blockchain ledger, while those same credits can then be used to purchase services from the network.
In short, project ORION presents a compelling and innovative use case for blockchain technology in solving real problems in real markets, and Monetsu is well positioned to capitalize on the opportunity to create a new global market for this revolutionary technology.
Technology
The technology behind the ORION application consists of a unique method integrating a peer-to-peer data routing network and distributed transaction ledger. This method creates secure routing and load balancing in the data network, and manages the distributed ledger within that routing network.
Routing Network
The network functions nearly identically to other “onion” routed networks in relaying data requests and content. Uniquely with ORION, users of the network are restricted from forming their own network circuits. This function is defined in the protocol and executed by the network authorities, which generate pseudo-random routing circuits for data relays. This both load balances the network by assigning relays to circuits based on their capacity, and increases system security against collusion in the consensus on relay performance.
Relay Capacity Consensus
In order to arrive at a consensus on the performance of bandwidth providers, relays measure and track the capacity and performance of neighboring relays in the network and in routing circuits. This data is filtered and propagated across the network until full consensus on each relay’s capacity is reached.
Blockchain Ledger
The blockchain technology used by ORION is based on the Ripple transaction protocol and blockchain ledger. All transaction features are the same as in the original Ripple implementation, with the exception of issuance transactions.
An issuance transaction is the source of credits within the ledger. In ORION the values and recipients of this transaction are based on the protocol’s issuance model and the federated consensus on network relays’ performance so relays are rewarded proportionally to their contributions to the network.
Federated Network Authority
ORION uses a federated system of transaction gateways, utility pools, and network authorities to manage its implementation and operation. It is the consensus of this federation that sets the protocol for the blockchain application.
Transaction gateways sign off on all transactions and also have the added responsibility of acting as authorities in the data routing network. This includes maintaining the information necessary for circuit generation and data routing while participating in the full network consensus on bandwidth capacity by operating a relay pool.
Balanced Incentive
Decentralized blockchain applications require sound and balanced incentives to attract the necessary market participants and grow the network to a secure and sustainable scale. By using the proven competitive issuance model of successful blockchain applications balanced market incentives are created, resulting in a secure system operating independently and for it’s own interest.
Security
The security of ORION is based on well-known network technology, military grade encryption algorithms and proven decentralized application incentive models. The unique process algorithm used for the measurement and load balancing of the routing network is derived from extensive research performed by top experts in the fields of blockchain and network technology.
Future Features
The ORION blockchain application is expandable to include additional features, integrate with other systems, and facilitate upgrades. The system will be expanded also act as a registry for other types of related digital assets; including domain names, security certificates, as well as lightweight crypto-credit derivatives to be used in micro-transactions.