Users use Knowchain for their demands in real world. Knowchain can help people to transfer value, store information forever on Knowchain or to do business with other users. For each purpose, their will be a certain type of transaction. There are 8 types of normal transaction on Knowchain: Transfer Know, Create a smart contract (including Ano units), Attach Ano units,
Request Service on Ano units and Vote for Delegates. There are also 3 special types of transaction on Knowchain: Register as Delegates, Register as Ultranodes and Register as Service Ultranodes.
In order to totally understand how it works, you need to know what are Know Layer and Ano Layer in the related articles or Whitepaper here.
- Transfer Know
The Transfer Know type of transaction will be managed only by the Know Layer by Delegates system following Delegated Proof of Stake consensus.
- Create a smart contract (including Ano units), Attach Ano units, Request Service on Ano units and Vote for Delegates
For these four transactions that are related to Ano units (except only the first type of transaction — Transfer Know) and special transactions, there will always be 2 processes on Knowchain network — The Know process and the Ano process:
• The Know process is about transferring Know from sender to receiver, or from sender to network, or from network to receiver. The Know process will be handled in Know Layer and will be managed by the Delegates following Delegated Proof of Stake consensus.
• The Ano process is about attaching and processing information as Ano units. The Ano process will be handle in Ano Layer and will be managed by the Ultranodes and Service Ultranodes following both Proof of Stake and Proof of Authority consensuses.
Original article: https://medium.com/knownetwork/how-many-types-of-transactions-that-knowchain-support-thats-8-not-1-3f4948c59006