Technology Stack and Processes

The robust infrastructure and systematic procedures underpinning the eNaira Stablecoin (ENSC).

Every ENSC released into circulation will be supported in a one-to-one ratio by an equivalent amount of eNaira CBDC reserves. These reserves are securely stored in eNaira speed wallets, held in trust by ProsperaVest ESG LTD in collaboration with its partner banks based in Nigeria. In our role as the custodian, we act as a trusted third party overseeing the backing asset. To mitigate risk, we've implemented a straightforward approach that simplifies both fiat and crypto audits, enhancing the security, provability, and transparency of these processes.

ENSC Technology Stack:

The ENSC technology stack comprises three layers with various features, offering a comprehensive understanding best depicted through a visual diagram.

ENSC tech stack

Let's delve into an overview of each layer:

1. The Blockchain: The first layer is the Polygon Chain. The ENSC transactional ledger is embedded on the Polygon chain as meta­data via the embedded consensus system.

2) The second layer is the Imbedded Consensus Layer that can:

a) Mint (create) and burn (destroy) ENSC token represented as meta­data embedded on Polygon Chain and other interoperable blockchains.

b) Track and report the circulation ENSC of via blockchain explorers such as polygon scan.

c) Enable users to transact and store ENSC in a:

i) peer to peer, pseudo­ anonymous, cryptographically secure environment.

ii) open­source, browser­ based, encrypted web 3­ wallet:

iii) multi­ signature and offline cold storage ­supporting system

d) the consensus layer also implements security architectures such as ZKP (Zero Knowledge Proof), Reentrancy Guard, Openzeppelin etc.

e) the consensus layer also provides a cross-chain bridge for ENSC that facilitates ZKP in a cost-effective manner

3) The third layer is ProsperaVest ESG LTD, our business entity primarily responsible for:

a) Accepting fiat deposits and issuing the corresponding ENSC

b) Sending fiat withdrawals and revoking the corresponding ENSC

c) Custody of the fiat reserves that back all ENSC in circulation

d) Publicly reporting Proof of Reserves and other audit results

e) Initiating and managing integrations with wallets, exchanges, and merchants