Trust-Based Blockchain That Rewards All Nodes: Graphite Network to Support Mass Crypto Adoption with Its New L1

On December 11, 2024, Graphite Network announced the launch of its L1 blockchain, designed to bridge the worlds of traditional finance (TradFi) and Web3.  

According to the company’s press release, the new blockchain caters to end users, developers, and enterprises, providing them with exclusive functionalities.

Graphite allows entry-point (transport) node operators to earn directly from the network, while addressing common industry trust concerns with reputation-centric capabilities that foster secure and flexible interactions.

These previously unavailable opportunities not only make Graphite stand out among the existing blockchains but also place it at the forefront of mass adoption.

Graphite blockchain: Key features explained

As a developer-friendly ecosystem, Graphite not only removes the need for huge server resources to set up an entry-point node (a node serving as an initial point for transactions entering the network) but also makes blockchain integration rewarding for all types of users.

With Graphite, entry-point node operators will earn 50% of the fees from all transactions originating from their nodes. Through this infrastructure, Graphite will enable passive income generation directly from the network, without relying on token investments or monetization models like ads.  

However, as per the team at Graphite Network, technical innovation alone is no longer sufficient to accelerate blockchain adoption. Instead, increasing user trust is essential – a goal Graphite aims to achieve through the implementation of reputation-driven mechanics, including account activation, a multi-tiered KYC framework based on privacy-focused Zero Knowledge Proof (ZKP) concept, transaction filters, and a Trust Score rating.

Since reputation is a key factor in everyday decision-making, Graphite is all about creating an ecosystem where users can interact securely and on their own terms.

Here is how it works: to start on Graphite, one activates their accounts with a nominal fee, upholding the “one user, one account” policy that prevents fraud linked to one-off wallets. Next, there are three tiers of KYC identity verification, with basic social media authentication available initially and additional levels planned for future releases.

By leveraging ZKP for compliance checks and conducting KYC procedures off-chain, Graphite protects user information, striking a healthy balance between privacy and transparency.

With transaction filters, users can further personalize their experience, only engaging with accounts that meet specified KYC levels. Meanwhile, businesses can benefit from this feature by building proprietary reputation-focused smart contracts for highly customizable interactions.

Finally, each Graphite user is assigned with a Trust Score that shows their account’s credibility – similar to a credit rating in TradFi – allowing all network participants to transact with confidence.

To further promote transparency and build trust, Graphite introduces tagged addresses, enabling users to assign labels to wallets tied to specific entities or purposes, ensuring the proper use of funds. Any misuse of the tagged funds is instantly traceable on the blockchain. Suspicious addresses can also be tagged and restricted through smart contracts.

Additionally, Graphite’s distinctive ticker system incorporates the @G symbol into all coins on its blockchain. This approach simplifies network identification and minimizes user confusion.

Graphite is poised to attract newbies interested in on-chain speed

Most L1 blockchains are slow, struggling to provide the infrastructure needed to attract Web2 masses. For example, Ethereum’s network throughput is limited to around 25 transactions per second (TPS), while Visa’s typical capacity is 1,700 TPS.

Although some L1s claim to be capable of processing over 100,000 TPS – a common benchmark for effective scaling – their actual throughput remains low. In October 2023, TON boasted reaching that number on a testnet, but in practice, it repeatedly stalls around 300 TPS.

With Proof-of-Authority (PoA) Polymer 2.0 consensus at its core, Graphite aims to break this trend, offering 1,400 TPS and confirmation times of under 10 seconds. Such high throughput not only supports day-to-day usage but also keeps transaction costs close to the minimum gas price, providing users with a straightforward fee structure.

For developers, Graphite’s transaction speed opens new opportunities to scale their existing Solidity projects. Thanks to built-in EVM compatibility, Web3 builders can migrate their applications to the Graphite network with just a few lines of code, gaining access to faster, cheaper, and more efficient smart contracts.

Given that the percentage of people using digital currencies is projected to grow from 6.8% today to 8% in 2025, Graphite Network's vision of a high-performance, reputation-based, and income-generating network positions it well to reach its full potential as more users enter the blockchain space.