What is Camino Network?
Camino Network is the travel industry layer one, open-source, public, and permissioned blockchain. Fueled by the Camino token, it offers a versatile network to expand current business models and create new touristic products to delight travelers and business partners.
Operated by a Consortium of validators who are rewarded for jointly running it, this network implements a fast and efficient L1 blockchain able to represent on-chain touristic assets, enable business-to-business transactions and payment of such assets, and augment it with searching capabilities that make it able to support the traffic generated by the travel industry, where big players together generate billions of searches per day.
Furthermore, it enables the porting or ex-novo building of dApps on this environment with minimal effort, thanks to its adherence to Ethereum Virtual Machine (EVM) standards and the composability of said dApps with other Web3 frameworks and artifacts generated on other blockchains.
The Camino token (also referred to as "CAM") is the native token of Camino Network, facilitating transactions and incentivizing participation in the Consortium. As an essential component of Camino Network, the CAM token serves several fundamental functions and roles within the ecosystem:
- Transaction utility: CAM tokens are used to pay various transaction fees within the network.
- Validators: A validator is a participant who operates a node on Camino Network and, as such, validates new transactions. To act as a validator, a participant in the ecosystem must "bond" a fixed amount of 100,000 CAM tokens to secure the network and validate transactions.
- Proposal creation: To initiate proposals for voting, it is mandatory to bond 2,000 CAM tokens.
- Payment: CAM tokens can be used as currency to conduct purchases in Camino Network, in addition to other payment options such as stable coins or Central Bank Digital Currency (CBDC).
For more granular transactions and precise value representation, nCAM and aCAM are used as smaller units of account. While 1 CAM is equivalent to 1,000,000,000 nCAM, it is also equal to 1,000,000,000,000,000,000 aCAM (10^18 aCAM). This system of nCAM and aCAM enables the network to handle a wide range of transaction sizes, from microtransactions to larger transfers, with high accuracy and efficiency. Learn more about Tokenomics.
Camino Network uses a customized consensus protocol known as Proof-of-Stake & Authority (PoSA). The PoSA consensus protocol is designed using distinct elements from both PoS and PoA:
- From PoS, emphasis is placed on the importance of validators having a substantial stake in the Camino Network ecosystem, ensuring their vested interest in the network's success.
- From PoA, the principle of having identifiable validators has been incorporated, ensuring transparency and trustworthiness.
The result is a consensus mechanism that provides rapid, secure transactions and efficient energy consumption that still does not centralize validation or consensus. It also implements public blockchain checks and practices of PoS to avoid abuse or malicious takeovers that can happen in a heterogeneous environment, such as the travel industry.
Key features of PoSA
- Speed: Camino Network ensures sub-second immutable finality, enabling rapid and irreversible transaction confirmations.
- Scalability: It supports a high network throughput with minimal latency, adapting efficiently to the network's needs. Capable of 4,500 transactions per second.
- Energy efficiency: Camino Network's consensus is not computationally intensive, promoting a sustainable blockchain environment.
- Adaptive security: The protocol is resilient against a multitude of attacks, such as Sybil attacks, DDoS attacks, and collusion attacks, thanks to its probabilistic nature. Even under adversarial conditions, consensus leans towards the desired state.
Learn more technical components of the Camino consensus protocol from the Whitepaper.
The Consortium: Validators & governance
Camino Network is operated by a Consortium of travel industry-related entities (the "Camino Consortium"). This structure ensures that each member has a vested interest in the success and sustainability of Camino Network.
Consortium members contribute to the network by providing a validator node and securing and validating transactions. In return for their services, they receive an equal share (30%) of the transaction fees as a reward.
The principle of validator equality is central to the Camino Network's governance philosophy. Regardless of their size or influence in the broader travel industry, every validator must bond the amount of 100,000 CAM. This creates a level playing field and ensures that each validator has an equal vote, an equal bond, and an equal role in the network's decision-making.