OLYM

What is OLYM?

OLYM brings EVM-compatible programmability and native cross-chain communication with OLYM using an innovative consensus of Proof of Authority(PoA)

Why is OLYM designed as a separate chain from OLYM?

The execution of a Smart Contract may slow down the exchange function and add non-deterministic factors to trading. Even if that compromise could be tolerated, it might be a straightforward idea to introduce a new Virtual Machine specification based on Tendermint, based on the current underlying consensus protocol and major RPC implementation of OLYM. But all these will increase the learning requirements for all existing dApp communities, and will not be very welcomed.

How does OLYM work? What is the architecture and consensus used?

OLYM relies on a system with Proof of Authority (PoA) consensus that can support short block time and lower fees.

There will be fewer validators on OLYM testnet.

Can you tell more about Proof of Staked Authority(PoSA)? What is it?

PoSA is a combination of PoA and PoS. Blocks are produced by a limited set of validators, they are elected in and out based on a staking based governance. Validators take turns to produce blocks in a PoA manner

What are the benefits for developers to build on OLYM?

EVM-compatible: OLYM supports all the existing OLYM tooling Fast block time, cheaper cost
Native cross-chain trasfer & communication: OLYM DEX remains a liquid venue of exchange of assets on OLYM and OLYM"

What are the benefits for developers to build on OLYM?

OLYM opens the gate for users to take advantage of the fast transferring and trading

What make OLYM different?

Key Innovations:

Proof-of-authority Consensus
Native Cross-Chain Communication
Expand the use cases of OLYM token

OLYM is EVM-compatible. What does that mean?

EVM means OLYM Virtual Machine. Any smart-contract written to run in EVM can be easily ported to OLYM.

Can developers make hybrid Dapps using both OLYM and OLYM in one single Dapp?

Yes, with the help of native cross-chain functions