Constellation is an open-source decentralized platform with reliable data assurance, a framework, and developer tools that allow everyone to build and conduct business on it. It can be used to create cryptocurrencies, blockchains, or applications. The platform was built by Constellation Network, a software and blockchain company headquartered in San Francisco, CA. The team’s primary goal is to encourage blockchain entrepreneurs to build scalable businesses as well as enable developers to build web 3.0 applications with increased security.
Constellation is focused on bridging real-world business metrics and rewards with the power of blockchain functionality through the Constellation L_0 standard and microservice framework.
Constellation stands out with some significant features including free instant transactions, direct streaming data validation, integration of any external data source or blockchain, Babel programming language for interacting with Hypergraph, using L_0 state channels for cryptographic protection of complex data, and Proof of Reputable Observation (PRO) consensus model.
The network also provides security, simplicity, and scalability. Transaction records are secured by storing cryptographic key signatures in the data dependency graph. Constellation has a horizontally scalable design that allows it to work with big data. It has infinite scalability as speed increases with network size.
Lattice Exchange, a DeFi exchange platform created by Constellation enables safe cryptocurrency transfers between multiple blockchains with zero transaction fees and reward programs.
The Constellation network consists of the DAG token, DAG nodes, state channel nodes, and hybrid nodes. The concept of microservices underlying network architecture means that as network adoption grows, different types of hybrid nodes are created for specific applications. State channels are software-based deterministic applications that can be built on Hypergraph. DAG is the financial aspect that ties all types of state channels, data, and currencies together. Among Constellation’s use cases are data validation, shared rewards (programmatically distributed rewards for staking), and digital currency wrapping.
Constellation token DAG
Constellation’s ecosystem is powered by its native cryptocurrency DAG. This token developed on the Ethereum blockchain was designed to be used solely as an interoperable utility token on the Hypergraph network. Its goal is to ensure a convenient, smooth, and secure mode of payment exchange between participants on the HGTP network.
The Constellation ICO was held from January 01, 2018, to January 31, 2018, raising over $33 million USD. The genesis date was May 24, 2018. The maximum DAG supply is capped at 3.67 billion coins while node rewards are limited to 1.6 billion. Rewards will be minted until the cap is reached.
The main currency features include HGTP L_0 token standard, cross-chain liquidity and atomic swaps without additional routing, protection against arbitrage and manipulation, generative economic model, and merged mining.
DAG may only be utilized on the HGTP network, it is non-refundable and cannot be exchanged for cash. DAG is used to confirm transactions on the Hypergraph protocol, reward validators who run nodes, create an L_0 application, and enable cross-chain liquidity to compensate network members for their efforts.
The HGTP network is maintained and secured by distributed nodes. Executing transactions or storing information on the network requires computing resources and DAG is used to quantify and pay the costs. Payments of incentives to nodes are based on each node's Proof of Reputable Observation score (PRO score). Users can get additional DAG tokens for their activities and contribution to the HGTP network.
DAG holders can propose and vote for protocol improvements and the HGTP network parameters. The network participants also determine the best businesses to supply liquidity. The Constellation network supports Stargazer Wallet, a Google browser extension, that does not charge any transaction fees for DAG transfers. Lattice Exchange allows staking DAG.
Hypergraph is a decentralized network, an economic model that depends on all network participants. Hypergraph allows anyone to create their own businesses built on a blockchain.
The network participants include DAG purchasers and holders, node validators who manage nodes and get DAG as a reward, and state channel businesses who can create tokens on the L_0 standard using the Constellation Hypergraph Transfer Protocol (HGTP).
Storing DAG tokens in Hypergraph gives access to the Constellation ecosystem, businesses, and products. DAG is also required to maintain and run consensus on Hypergraph, to create an L_0 token or state channel. To build an application a business or individual must stake $DAG.
The network offers zero transaction fees, speed (millions of transactions a month), scalability, streaming data verification, DAG transportation, and cross-chain liquidity. It also leverages the reward layer used to maintain the network.
Constellation’s team and partners
Constellation’s core team is a group of passionate people striving to change the world for the better. The company’s founders are Benjamin Jorgensen, Wyatt Meldman-Floch, Mathias Goldmann, and Benjamin Diggles. They are also co-founders of Lattice exchange.
Benjamin Jorgensen, an entrepreneur and investor that focuses on emerging technologies, works as the CEO at Constellation and is the owner of A5 Meats. Wyatt is the CTO, inventor, and data engineer specializing in distributed systems and machine learning. Benjamin Diggles is the Chief Strategy Officer responsible for all government and enterprise engagements and the global partnerships strategy implementation. Mathias is an entrepreneur COO
Constellation Network established cooperative relationships with LCX, a compliant and regulated fintech company, to develop more secure and scalable blockchain solutions and Alkimi exchange, which is building the ad exchange on top of Hypergraph Protocol.