Journey of PooP aka EXN

	                                                          Reading Time : 5 min

Since the last time I mentioned Donniesama and its Poop coin utilization, the plan has changed from being a L2 EVM chain to becoming a standalone L1 Blockchain with full EVM adaptability.

The announcement was made as having a fully independent chain that only focuses on Metaverses and Games which will be the first chain to be governed by NFTs.

Kyilkhor’s past involvement with Energy Web as a head of blockchain and rumors refer that this chain might be forked by EWT itself.

This reveals to us that this new chain: EXN, will be using another consensus protocol, PoA- Proof of Authority; other than PoS - Proof of Stake and PoW - Proof of Work.

For some average cryptocurrency users and investors, PoA might seem unfamiliar, but in fact, this term was first introduced to us by Ethereum co-founder and Polkadot founder Gavin Wood, by himself.

What is this Proof of Authority?

For some, it is an extended version of PoS where the security is not incentivized by the staking with monetary value but instead, the validator’s identity is at stake.

There is no requirement for computing power as PoW and money to secure the chain.

For others, it is nothing different than having a private blockchain and only brings up centralization.

And for many developers and project founders, it’s an initial launching method of a chain before passing to the PoS- Proof of Stake. That means, providing them to stabilize the network security and the validator infrastructure.

Did you know that;

• Polkadot itself launched as PoA for a smooth transition to PoS?
• and many Parachain projects launch as PoA at a very early stage and then configure their validators?

But for some like Energy Web, it is an optimal way to provide adaptation of blockchain on an institutional level.

Why so?

The Pro-argument is that PoA validators can’t act maliciously because their identity and reputation are at the stake in PoA consensus structure.

That means any malicious behavior might even take the validator to the court. So that there is much less security risk for the institutions because of not delivering any consensus and governance power with monetary value.

It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently - Warren Buffett

So you choose big companies as validator nodes here in a permissioned way.

Also as performance efficiency, they may be better than many current chains due to not having extensive consensus algorithms like PoS and PoW.

Some PoA uses an additional mechanism in their chains though.

Such as Theta using guardian nodes that check their validator’s nodes.

Stellar adapting PoA by mixing different kinds of nodes to secure its network.

So even though on the base layer, there is a permissioned security but blockchains tend to add a permissionless layer on top of it.

Most likely with Exosama standalone Blockchain, we will see validators as permissioned. They will be chosen among the Moonsama OGs who are known to the community and earned the trust of the team for a time being.

The Pro-argument of Donnie - the founder of Moonsama and Exosama is; they want a game/metaverse chain where there is no VC dumps and control.

They want to be independent from other chains' tokenomics, slow tech improvements, and market values.

PoA will enable them to scale to very high TXs with low energy consumption.

Things we might see on this new blockchain:

Can this be ultimate “David” Protective Robust System?

Donnie describes the term ‘Davids’ in the projects who come in projects and hunt for only profits and leave.

So since the beginning, he is known for specifically identifying this kind of member out of his community and even tagging a term for that kind of act as ‘David’.

That also makes sense from his side as he won’t be happy with David’s coming and potentially abuse a permissionless chain at an early stage.

Things to consider when you are building on a PoA?

Identities are at the stake I said, right?

How do provide this KYC process to know validators whether they’re real legit humans?

Maybe their partner in crime Kilt’s SocialKYC might step in here?

The barrier and selection of being a PoA validator should be high as well.

So it should provide a value to be and a disaster to lose.

In Exosama, I would assume; very high numbers of staking NFTs will be required to be validators.

Could we see some sort of governance power with the weight of NFTs staked by a validator?

It would only be a speculation. It’s not an applied and tested structure before. The best case scenario would be also to deliver a chance to anyone to apply as validators as well, not just Moonsama OGs.

There may be others in the community who understands the process and are trusted by the community itself.

What is in here for Poop token?

It’s announced that Poop will be converted 1:1 to EXN token of this new standalone blockchain. So the journey of Poop continues; starting from in-game assets to on-chain NFT, and then turning into xc-20 assets and now becoming a gas token of a blockchain.

• EXN aka Poop will be used as gas fees in this new chain. Even though PoA nodes are not motivated by earning block rewards or TX fees, they will be paid as EXN tokens as well.
• Having a blockchain, enables it to be built on other customizable dApps, and games on it right. So EXN will be the token for them as well.
• Continuation of Raresama, an art-focused NFT market might migrate to this new blockchain where we might see the EXN as a fee, governance and purchase token.

What else can be adapted and seen?

Donnie claims to have a governance system provided by NFTs.

Earlier, I mentioned Validator selection by applying the PoA model combined with their NFT ownership.

But actually, I assume Donnie might adapt a permissionless layer on it by allowing Exosama owners to participate in the governance of the chain.
This might lighten the centralization of the chain.

If they can apply DIDs - digital Identifiers on Exosama owners, they can create credentials 1:1 for each user. So not the amount of NFTs or stake values they have. Just like in real life.

But Isn’t it also a problem?

With some DID protocols, you can sign credentials by identifying someone’s reputation power and attaching it to a specific NFT.

These signed credentials on NFTs might be considered for governance rights. This will allow Reputation power to be applied as voting weight in Governance.

There have to be some Standards for evaluating the reputation. It can be determined considering the contribution to the community and the project.

Validators can act as an attestation to assign these reputation powers at the beginning and then this attestation might transmit to the NFT holders.

In the future?

It wouldn’t be surprising to see this new chain to adapting PoS and migrating into Polkadot ecosystem either as a Parathread by “paying as they go” leveraging from the security and interoperability of the Polkadot infrastructure or even becoming a Parachain itself.

Maybe even more?

Such as; becoming a standalone network that connects Polkadot and Kusama with light client bridges that are under development by Snowfork, Composable, and the Parity team itself.

Because as many are mistaken that blockchains don’t have to be a substrate chain to leverage XCM in fact.

So far we correlate standalone Blockchains with Cosmos SDK but in fact, in fact it doesn’t have to be.

EXN might be a showcase of this feature and can also provide adaption to Polkadot ecosystem. It is gonna be another interesting year for Donniesama and its vision.

Only time will tell where they will end up.