Foreword

P2P networks follow the same simple principle that drives the economic processes: you scratch my back, and I'll scratch yours. What it means, when the client of the P2P network consumes some resources, it has to do a comparable amount of work for others.

Like in the real world, such a scheme leaves no room for egalitarianism since different nodes always would have different qualities of connectivity, different abilities to perform computations, etc. Ace Network solves the problem by introducing distributed traffic accounting that counts and automatically settles resources consumed by network participants. And, like humankind invented money to store and transfer value when there is no instant need to consume some goods or services, Ace Network offers a mechanism to create and use crypto-assets that could represent the network’s values in any needed and imaginable way.

The most obvious candidate for the role of “eternal value” of Ace Network is video traffic (approximately 80% of Internet traffic is video streaming right now). Thus, Ace Network’s main stablecoin tokenizes this timeless value.

Surely, whenever money’s mentioned explicitly, the trust is being mentioned implicitly, especially when all accounting is being done on client devices, so Ace Network implements the scheme that makes it impossible to spoof the network.

Ace Network currently offers second layer micropayments implementation over Stellar-based distributed ledger, which is scalable for up to 172M active users while introducing no significant delays. A more capacious version is being developed.