Building Own Blockchain

Abstract

Own is a decentralized fundraising, digital trading and security token issuance platform that runs on a native, custom-built dual-blockchain infrastructure. This paper describes the implementation and our experiences with the public, permissionless part of Own dual blockchain. We describe Own public blockchain consensus, which is based on the Tendermint BFT consensus algorithm, and which we modified towards simplicity and robustness, and open-source implemented from scratch in F#. We further detail how Own Delegated Proof of Stake (DPoS) mechanism works and the staking cryptoeconomics around its native utility token (CHX). Finally, we report on Own public blockchain performance both in experimental (testnet) deployments and extracting performance numbers from history of the live blockchain network (mainnet), which consisted of 83 active validators in August 2019.