One World Chain Token Docs
  • Summary
  • DOCUMENTATION
    • Learn about the OWCT Platform
      • OWCT Overview: vision, strategy and platform components
      • The OWCT Blockchain
        • Discovering the Network
        • OWCT Consensus
        • Delegation through Staking with Validators
        • Ethereum (EVM) Compatibility and Smart Contracts
        • Boosting OWCT's Scalability
      • OWCT
        • OWCT Tokenomics
        • Wallets Supporting OWCT
        • OWCT on Other Chains
      • Interoperability
      • OWCT Governance and Development
        • OWCT Assembly
    • OWCT for Business
  • Developers
    • Network Details
      • OWCT Mainnet
      • OWCT Testnet
      • Token Faucets
      • Network Upgrades
        • Upgrade Guide
        • Upgrade Guide (explorer nodes)
        • Block 13,800,000 Fork
        • FIP's
    • OWCT Consensus
      • Contracts Overview
      • Stake, Delegate and Withdraw
      • Vote
      • End-of-Cycle Flow
      • Contract Addresses
    • How to run network nodes
    • Resources & Tools
      • TheGraph
      • WalletConnect on OWCT
    • Important smart contracts
      • OWCT Token
      • OWCT Dollar
      • Major Deployed Contracts
      • Bridges
        • OWCT (Mainnet) <=> OWCT (ETH)
        • OWCT (Mainnet) <=> OWCT (BSC)
        • OWCT (Mainnet) <=> OWCT (BASE)
        • ETH (Ethereum network) <=> ETH (OWCT network)
        • USDT (Ethereum network) <=> USDT (OWCT network)
        • USDC (Ethereum network) <=> USDC (OWCT network)
        • BNB (Binance network) <=> BNB (OWCT network)
    • How to become a validator
      • Getting started as a validator
      • Getting started on the OWCT testnet
  • Links
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    • GitHub
    • LinkedIn
    • Medium
    • Telegram
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  1. DOCUMENTATION
  2. Learn about the OWCT Platform

The OWCT Blockchain

PreviousOWCT Overview: vision, strategy and platform componentsNextDiscovering the Network

Last updated 9 months ago

Network Overview and Key Metrics

OWCT is the decentralized EVM-compatible public blockchain that powers the OWCT platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of OWCT.

The OWCT blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving . The consensus is secured by a significant number of independent validators, only one of which is run by the OWCT core team.

Validators are also responsible for the most important type of governance on OWCT, namely, adopting the network protocol changes.

The native token of the network is called OWCT. New OWCT tokens are issued with every added block and are also use to pay for gas, just like ETH on Ethereum.

The OWCT blockchain is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on OWCT is around 3 seconds, and it currently costs much less than $0.01 to get a transaction confirmed.

In its present capacity, the OWCT blockchain is capable of processing around 5K transactions per second (TPS). The faster processing of native token transfers is due to the fact that they do not involve computations run on the network's virtual machine.

consensus