TokEngine

TokEngine is a TOKen Exchange for the Next Generation INternet Ecosystem. The project will demonstrate the interoperability of between NGI ecosystems by the low cost exchange between any fungible tokens in the NGI infrastructure.
At the centre is a hub powered by the NGI Ontochain validated Convex Virtual Machine (CVM). Convex DLT was verified for sub-second finality, scalability and sustainability in 2023. It provides a permissionless, decentralised public network with highly sustainable energy usage. Transactions only require less than 3 microWh energy to reach finality, using the novel Convergent Proof of Stake Consensus. The cost is typically €0.00002 per transaction.
The objective is to prove interoperability between different NGI TrustChain projects. The Project POC aims to demonstrate this using wrapped tokens and metadata for interoperability with another EVM compatible blockchain. The target is to complete TokEngine internal transfers within one second. For demonstration purposes, event logs are maintained for auditability and data analytics. This project is managed by Convex in partnership with Werenode, who developed an NGI Ontochain project, Defev. Werenode is beta testing a DApp that connects EV charging equipment with EV driver accounts that purchase electrical energy. This helps EV drivers to find charging points and pay for energy, plus a small additional fee. Werenode provides revenue for the chargepoint owner.
Werenode are maintaining ledgers of Werecoin (WRC) on independent EVM compatible chains, including Tezos and Alastria, via their customer facing wallet. They now wish to have swift interoperability between their tokens and maintain offchain data on a decentralised file system.
- Motivation for the project: There is no standard for exchanging tokens. This is a global problem and many bridges have had security issues. A standard protocol for NGI would simplify the interoperability between NGI projects. This could be extended for use in TrustChain OC5.
- Generic use case description: A user of decentralised applications (dApps) has wallets with multiple crypto tokens, possibly on multiple DLT networks and needs to convert some of one to another.
- Essential functionalities: Wrap tokens, Unwrap tokens, Mint, Burn, Read and write decentralised off-chain data, Audit transactions, and Comms to TokEngine
- How these functionalities can be integrated within the software ecosystem: Convex public network, API calls, Smart contracts, and Convex DLFS (Decentralised Lattice File System)
- Gap being addressed: Fast, scalable, sustainable and secure token exchange; Multi-chain support for NGI ecosystem; Low cost decentralised data; and Ability to leverage benefits of lattice technology including efficient encodings for Merkle trees
- Expected benefits achieved with the novel technology building blocks: DApp developers can: interoperate between chains, reduce costs, minimise time to finality for their end-users, Scale more easily and Store and securely share decentralised data
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Potential demonstration scenario: The demonstration scenario has two parts:
1. Exchanging WereCoin WRC on the Tezos chain and another EVM compatible Chain
2. Store and retrieve decentralised data with NFT security
Team

Dr Leonard Anderson
International IT project manager and educator

Michael Anderson
World class consultant, technologist and innovator

Andrew Hardie
Infrastructure and Devops specialist
Entity

Convex
Decentralised virtual machine and file system.
Website: https://convex.world
LinkedIn: https://www.linkedin.com/company/convex-
foundation/