This article examines Constellation Network, a project aimed at overcoming the limitations of traditional blockchain technology using Hypergraph architecture.
The Origins and Evolution of Constellation Network
Constellation Network began development in 2017 with the aim of overcoming limitations of traditional blockchain technology. A significant milestone was the launch of Hypergraph Main Net on May 7, 2020.
The initial tokenomics model featured centralized holdings, but in 2018 the model was revised to reduce centralization.
In March 2021, the team announced Tokenomics v2.0, introducing a scalable economic framework. In August 2024, Metanomics was introduced as a significant overhaul planned for implementation in Q1 2025.
Core Technical Features of the Hypergraph Architecture
Unlike traditional blockchain networks, Constellation employs a Directed Acyclic Graph (DAG) structure known as Hypergraph. This architecture enables higher transaction speeds and improved throughput.
The Hypergraph consists of two layers:
* **Layer 0 (L0)**: Responsible for state snapshots and final validation. * **Layer 1 (L1)**: Manages new data in a graph format.
Additionally, one of the features is metagraphs—application-specific networks operating on top of the Hypergraph, allowing developers to implement custom consensus mechanisms.
Tokenomics Evolution: From Fixed Supply to Dynamic Model
The $DAG token is the native cryptocurrency of the Constellation Network, binding various network components together and facilitating interactions. The original tokenomics model distributed rewards in a fixed supply manner, but the need for flexibility led to the introduction of Metanomics.
In August 2024, the new model with dynamic inflation was presented to respond to market conditions, including the introduction of delegators who support validators and earn rewards for participation. Metanomics addresses network needs, ensuring sustainability and economic health.
Constellation Network continues to evolve as a data-driven Web3 infrastructure, showcasing unique technological solutions and flexibility in its economic model. The transition to Metanomics represents a crucial step for the project to adapt to future market demands and maintain economic stability.
