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SphereNet L1

SphereNet is a semi-permissioned Layer 1 blockchain built on the Solana Virtual Machine (SVM). It is engineered to deliver high-throughput performance, robust security, and adaptable decentralized governance through innovative runtime modifications, a novel consensus mechanism, and advanced cryptographic protocols.

Runtime Modifications​

SphereNet introduces targeted modifications to the SVM runtime to enhance the system's security, privacy, and performance:

  • Validator Whitelist Enforcement: The leader schedule is generated exclusively from an on-chain whitelist.
  • Program Whitelist Verification: The BPF loader verifies that only approved programs execute on the network.
  • Expanded Compute Capacity: The block size limit is increased to 100M compute units to support advanced zero-knowledge operations.
  • Transaction Prioritization: Custom rules prioritize transactions (e.g., maker/taker orders) to maintain consistent performance.

Architecture​

The network is organized around three core on-chain programs:

  • Governance Program: Controls validator registration, token creation, and program deployment via decentralized on-chain voting.
  • Token Program: Enables confidential state transitions using Twisted ElGamal encryption combined with many-out-of-many proofs.
  • Badge Program: Manages verification badges and guarded transfers to enforce programmatic compliance and custom validation rules.

Consensus Mechanism​

SphereNet employs a novel consensus mechanism called Proof of Governed Stake (PoGS), which combines:

  • High-Performance Proof of Stake: Leverages Solana's throughput and finality.
  • Decentralized Governance: Validators are selected and overseen through on-chain voting.
  • Whitelisted Validator Set: Only authorized validators can produce blocks.
  • Economic Incentives: Staking rewards and slashing conditions align participant behavior with network security.

Token Architecture​

SphereNet utilizes a three-token framework to segregate functionality:

  • SPHR: The native token used for transaction fees and validator staking.
  • CORE: The governance token that empowers community-driven decisions on network policy and upgrades.
  • Stablecoins: Whitelisted tokens maintained for price stability and representing designated value assets in the ecosystem.

Privacy Features​

Privacy is a core design tenet of SphereNet. The network employs advanced cryptographic protocols to protect sensitive state transitions and data:

  • Twisted ElGamal Encryption: Secures account balances and state transitions via linear homomorphism.
  • Many-Out-of-Many Zero-Knowledge Proofs: Verify that only valid state changes occur without exposing which accounts are affected.
  • Zero-Knowledge Range Proofs: Confirm numerical values remain within specified bounds while keeping them hidden.
  • Programmable Transfer Guards: Provide account-level custom validation to enforce compliance and specialized security policies.