RDDL Network
  • πŸ‘‹Welcome to RDDL
    • πŸ’‘What we do
    • ✨Our Features
  • Basics
    • βœ…Understanding RDDL
    • 🎭Actors
    • ⛓️Networks
    • πŸͺ™Tokens
      • RDDL on Liquid
      • Conversion Rate
    • πŸŽ†Types of Nodes
      • πŸ‘›Wallet Management
      • πŸ”Key Ceremony
    • 🀝Token Services
      • Machine Identity Attestation
      • RDDL Purpose Tokens
      • Wrapped Tokens
      • CID Asset Notarization
    • 🏁Proof of Productivity
      • πŸ‘©β€πŸŽ€Actor Selection
      • ⁉️Challenge-Response
      • πŸ’°Rewards
        • πŸ”’Reward Calculation
        • ⌚Clearance Process
        • πŸͺ™Claiming Rewards
    • 🀝Reissuance & Distribution
  • Getting Started
    • ❓How can I participate?
    • ⚑The EnergyAgent
      • ▢️Installation
    • βš“Trust Wallet
    • SMD (Smart Metering Device)
  • Workflows & Governance
    • Converting RDDL to PLMNT
    • Voting on chain parameters
  • βš’οΈInfrastructure
    • 🧁Services
Powered by GitBook
On this page
  • How RDDL works
  • Why
  • Prerequisites
  • The Basics
  • Machine Attestation
  • Token Issuance
  1. Basics

Understanding RDDL

PreviousOur FeaturesNextActors

Last updated 6 months ago

How RDDL works

Please read the of the RDDL network to get introduced to all the details and concepts.

The goal of the RDDL Network is the implementation of a protocol that achieves the following pillars:

  1. Connects and notarizes Layer 0 (industrial and consumer machines) machines and their actions

  2. Tokenizes Layer 0 entities (optional) on Liquid - the Bitcoin sidechain - (Layer 2)

  3. Rewards productivity (if proven) - Proof of Productivity (PoP) - Liquid - the Bitcoin sidechain - (Layer 2)

  4. Notarizes data and productivity on Planetmint, a Layer 1 solution

Why

To not overload Layer 1 with metadata and to guarantee the settlement logic to Layer 2.

Prerequisites

An RDDL-compatible device must be attached and connected to the machine to connect the machine to the RDDL network. The RDDL-compatible device expects internet access to connect to the RDDL network.

Key Ceremony

The machine needs to be provisioned with a secret that will be used to derive public and private keys and identities for Planetmint and Liquid - just before the first network interactions can take place.

The Basics

Machines must be attested to the network before they can notarize data and productivity and participate in the PoP.

Machine Attestation

The attestation process is executed on the Energy Agent. Detailed information can be found at Installation. During the initial attestation process of an Energy Agent, the specifics of its investment capabilities can be defined. These definitions implicitly represent the token issuance process of the device.

Token Issuance

Amongst others, the following parameters must be defined for the issuance process

  1. amount of tokens issued, e.g. something between 0 and 21 million. 0 is a corner case that indicates that no permit will be issued for the given machine.

  2. A ticker, 3 to 5 ASCII characters in length (e.g. β€œIPA”), used to denominate the amounts in a recognizable unit,

  3. an extended name, 5 to 255 ASCII characters in length (e.g. β€œThe RDDL network token”), to give a human-readable title to the Issued Assets

  4. a domain that the issuer must control (e.g. β€œrddl.com”) is used to tie together all of the above information to the entity containing the domain submitted to the registry.

  5. Decimal precision is mainly helpful for issuers. For instance, two places of decimal precision would mean that 199 satoshis of the Issued Asset should be interpreted as 1.99 units of the Asset.

The RDDl device has to run the . The rddl-client usually initiates interaction with the service and RDDL network.

The official documentation about how to defines what needs to be defined for the machine token in more detail.

βœ…
0x21e8 RDDL Interaction Service
issue tokens on Liquid
Whitepaper
Layer Overview