Introduction

Powering the future of web3, SOURCE is building limitless enterprise applications on a secure and sustainable global network.

Foreword

Beyond the fundamental blockchain technologies of Bitcoin and Ethereum, technical expertise in the crypto space has limited adoption on a broader scale. There is an educational gap that prevents many non-tech-savvy users, as well as modern enterprises, from entering the space. Imagine a technology that promotes security, user-friendliness, efficiency, scalability, automation, and built-in sustainable growth. If proper levels of participation were acheived, such a technology would have a significant impact on increasing adoption and daily use case for blockchain technology at large. Similar to how DOS evolved into Windows, a web3 ecosystem has yet to bridge the gap to mass adoption.

What is Source?

SOURCE is a comprehensive blockchain technology suite for individuals, enterprises and developers to easily use, integrate and build web3.0 applications. It is a broad-spectrum technology ecosystem that transforms centralized web tools and financial instruments into decentralized ones.

Powering the future of web3, SOURCE is building limitless enterprise applications on a secure and sustainable global network. Defi white-labelled services, NFT markets, RWA tokenization, play-to-earn gaming, Internet of Things, data management and more. SOURCE is providing blockchain solutions to the real world and leveraging the power of interoperability.

The SOURCE blockchain offers a quantum leap in performance and security for web3 innovation compared to its predecessors. With lightning-fast transaction speeds and a scalable architecture, SOURCE goes beyond the capabilities of Bitcoin and Ethereum. The SOURCE team is actively working with enterprise businesses to create blockchain solutions that harness the power of smart contracts, IBC, and the Cosmos Ecosystem. Say goodbye to slow transactions, high fees, and no practical business solutions – SOURCE is the future of blockchain technology.

SOURCE's backend infrastructure is also being made available for white label integration with existing online banking and finance solutions in order to more efficiently service the traditional finance industry.

Background

The SOURCE team has a combined 30 years of experience in blockchain technology and cryptocurrency markets and its founders have been active since 2013. Through this experience, the team has come to recognize the benefits and drawbacks that various cryptos/blockchains have to offer. While many of these technologies are showing promise, it is undeniable that much of crypto's mainstream use is plagued by low transaction speeds, expensive gas fees, network congestion, lack of scalability, 51% attacks, centralized exchange hacks, minimal interoperability, and billionaire influencer tweets, etc.

A major lack of solvency, liquidity and economic sustainability with prominent protocols, centralized or otherwise, has also become very clear. Evidence of this fact is arguably more visible due to the hype and what many would consider extreme over-valuations of “meme coins” and NFTs. This has created an irrational market lacking a significant presence of real utility and a dominant technology.​

While Bitcoin remains king as a store of value, and Ethereum leads the way in smart contract capabilities, the slow transaction speeds of BTC and ETH’s ever-increasing gas fees have hindered enterprise development and excluded many retail investors from being able to utilize valuable apps, smart contracts and tooling. This lack of scalability has ushered in a new “race to build the modern railroad,” with competing layer one blockchain technologies such as Cardano, Polkadot, Solana, Polygon, Avalanche, Binance Smart Chain, and Cosmos all trying to build the most efficient, secure and affordable blockchains available.

From a business and economic perspective, the market will naturally seek out ecosystems that excel in these categories. For this reason, SOURCE commits to building on, integrating with and implementing the most efficient, compatible and adaptable tech as the crypto space evolves over time.

• Majority of protocols are reliant on centralized exchanges for liquidity, limiting their ability to scale independently

• Slow transactions speeds, high costs, limited scalability, and inability to collaborate and share information with other chains, has created severe limitations in Gen 2 blockchain infrastructure

• There still exists a level of complexity in blockchain applications that remains a barrier to entry for the average user

• There is not enough focus on building “bridges” for the enterprise to adopt this new technology easily and quickly

Consumers are eager for a blockchain ecosystem that can securely and sustainably support mass adopted applications.

A Summary on the $SOURCE blockchain network

SOURCE is a standalone, layer 1, proof-of-stake blockchain, based in the Cosmos Hub IBC ecosystem (the Interchain). SOURCE has been built with Ignite CLI (formerly Starport), which utilizes the Tendermint BFT consensus mechanism (Ignite) and the Cosmos SDK. This enables interoperable transactions with other layer 1 Cosmos Hub blockchains and creates a developer-friendly platform to build on top of.

With SOURCE, everyone has access to a highly efficient, scalable and interoperable blockchain network to create apps, smart contracts and tools for the Web 3.0 Economy. Developers, enterprises and individuals can build, integrate and use everything from DeFi apps, NFTs, play-to-earn, metaverse, privacy networks, DeSci, and much more.

Key Components

• Sustainable Growth model built for enterprise involvement and mass application adoption

• Guardian Validator Nodes for enhanced network security

• Integration with Source Protocol’s Binance Smart Chain Ecosystem and Decentralized Money Market, Source One Market

• Source-Drop (Fair community airdrop and asset distribution for ATOM stakers and SRCX holders)

• Interoperable smart contracts (IBC)

• High speed transaction finality

• Affordable gas fees (average of $0.01 per transaction)

• Highly scalable infrastructure

• Open-source

• Permission-less Modular Wasm + (EVM)

• Secured on-chain governance

• Ease of use for developers

Implementing Sustainable Growth

Sustainable growth is a concept that is severely lacking in the blockchain space, and even in federally-managed fiat currency. Value-backed global currencies, like a gold-backed dollar, have been absent for decades, for example. The global financial system and its counterpart, the global economy, at their current states are more unstable than ever, with inflation and de-leveraging continually on the rise. Blockchain and smart contract technology has massive potential to emerge as key resolutions to the global fiat currency and economy devaluation and inflationary crisis. However, inherent volatility and speculation with crypto assets and blockchain networks have been pointed to as primary unstable growth factors, hindering mass adoption of Bitcoin and more recently, Web 3.0 application usage.

With smart contracts, we can lock-in sustainable value on-chain. They allow for transaction fee accrual and automated processes that can be strategically programmed into economic models that can achieve enduring success with enterprise business partners and developers.

If growth mechanisms like the above were to be successfully integrated into a blockchain economy like SOURCE, it would play a significant factor toward improving security, trust and mass adoption. This, combined with fast transaction speeds, low network fees, secured governance modeling, highly scalable infrastructure, and interoperable IBC capable smart contracts, will provide a massive competitive advantage over current top-tier protocols.

It is time for a blockchain ecosystem to push beyond the status quo and introduce a sustainable growth model that will help to unleash the power behind this great technology. This is what we are building with Source Protocol $SOURCE.