FAQ

This guide addresses as many questions you might have about Enter as possible. Please refer to this FAQ section before asking questions on Discord. If your question is still unanswered, please reach out to us through the chat function on our website in the bottom right corner or join our Discord.

General questions ENTER token EnterChain network

General questions

What is a consensus algorithm?

A consensus algorithm is a mechanism to reach agreement among nodes in distributed networks. It removes the need for a central authority and allows the whole network to agree on data and the ordering of events in a trustless way.

Nodes participating in the network maintain an exact copy of the ledger, allowing applications built on top of the consensus protocol to function correctly.

What is finality?

Finality means that a transaction cannot be changed or reversed by any party. aBFT consensus algorithms such as Lachesis have a very low time to finality because they achieve absolute finality. Absolute finality means that a transaction is considered final once it is included in a block.

In the case of Enter, Enter Chain can accomplish finality in 1 to 2 seconds. TxFlow can achieve finality in less than a second.

Conversely, Nakamoto consensus protocols rely on probabilistic finality. In this case, the probability that a transaction won’t be reverted increases with time. The more blocks that are created on top of a block, thereby confirming it as correct, the more difficult and costlier it would be to revert a transaction in that block. At some point it becomes theoretically impossible to alter older blocks, increasing the probabilistic finality to near 100%.

ENTER token

Is ENTER an ERC20 token?

EnterCoin has an ERC20 token, but it can’t be used directly on the EnterChain mainnet. When you send your ERC-20 to the Enter Wallet, it will automatically be swapped to Enter native coin.

Here’s a breakdown of the different Enter tokens in circulation at the moment

1. EnterCoin ENTER: Used on EnterChain mainnet 2. ERC20: ENTRC Exists on the Ethereum network 3. BEP20: ENTER Exists on Binance Chain

Note that EnterChain addresses share the same structure as Ethereum addresses (0x…), but they are not Ethereum addresses.

Can I send ERC20 ENTRC tokens to my Enter Wallet?

No. You need to swap them first to mainnet Enter using https://multichain.xyz/.

What’s the purpose of the ENTER token?

The Enter token has a number of use cases within the Enter ecosystem. It plays an essential role for a well-functioning, healthy network.

1. Securing the network

Enter uses a Proof-of-Stake system that requires validators to hold ENTER. Anyone with at least 1,000 ENTER can run their own validator node to earn epoch rewards and transaction fees. Every ENTER holder has the option to delegate their tokens to a validator (while keeping full custody of their funds) to receive staking rewards. Validators then take a small fee for their services.

By locking in their ENTER, validators help the network to be decentralized and secure.

2. Paying for network fees To compensate validators for their services and prevent transaction spam, every action performed within the Enter network costs a small fee. This fee is paid in ENTER.

3. Voting in on-chain governance Decisions regarding the Enter ecosystem are made using transparent on-chain voting. Votes are weighted according to the amount of ENTER held by an entity. Basically, 1 ENTER equals 1 vote.

With ENTER as the governance token, validators and delegators can vote on network parameters such as block rewards as well technical committees and so forth.

4. Additional use cases ENTER is used as a collateral on the Enter DeFi suite with Visa crypto cards.

How can I stake ENTER?

Check out this guide.

Can I stake ENTER on exchanges like Binance?

No, you cannot stake ENTER on exchanges at the moment.

How to run a validator on EnterChain?

To run a validator node on EnterChain, the followings are required:

1. A minimum stake of 1,000 ENTER;

2. Server with 4 CPU, 16GB RAM, and 1TB diskspace.

Where can I store ENTER?

You can store ENTER on our official PWA wallet for mobile and desktop.

Please note that the above wallets only support EnterChain Network ENTER. They do not support ERC20 or BEP2.

We are working with other wallet providers to add compatibility for the ENTER token.

EnterChain network

What is EnterChain?

Opera is a fully decentralized blockchain network with smart contracts integration for applications. It is compatible with the Ethereum Virtual Machine and powered by Enter's HBFT consensus. Thus, smart contracts developed on Ethereum can run on Enter, with an increase of scalability and security.

Is Enter compatible with Ethereum smart contracts?

Yes. EnterChain Network is fully compatible with the Ethereum Virtual Machine (EVM). It also has Web3JS API and RPC support. All smart contracts written in Solidity or Vyper, compiled and deployed on Ethereum, are fully compatible with the ENTER Network.

Is Enter compatible with Cosmos SDK?

Yes. Developers can use Enter's fast and secure HBFT consensus mechanism as a base layer and use the Cosmos SDK on top of it.

What programming languages does Enter support?

EnterChain network supports all smart contract languages that Ethereum supports for the EVM, which include both Solidity and Vyper.

When will Enter mainnet go live?

The EnterChain is planned to go live in the first quarter of 2022, after completing the testing and development stage.