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The Top Economic Model of Ingotsex, Emerged for Technology and Fought for Application

2020-09-21

IngotsEX is a trading service platform for digital asset meticulously built by the ingotsEX Foundation - a Technology and Digital Financial Group, with blockchain technology as the bottom structure. It has and manages various types of digital assets with different numbers. It is committed to providing safe, convenient and compliant blockchain asset trading services for global customers, creating a fair and ideal environment for investors to invest, trade and manage digital assets. It has the characteristics of safety, transparency, high efficiency and stability. In the advanced multi-layer, multi-cluster system architecture, memory matching technology is used to realize the management of matching engine and digital currency and French currency. The rapid fission of ingotsEX globalization is integrated into the economic model at the same time. On the one hand, the comprehensive transcendence from technology to model and ecology comprehensively ensures the fairness, transparency, safety and effectiveness of orders, so that all industrial chain participants establish a consensus and share the ecological value of blockchain. On the other hand, it provides a global trading market for ecological Token, so that the value generated by user labor can be continuously stored.

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I. Application chain operating system

The virtual machine of the application chain will be based on EVM, with some modifications to ensure the logic most simplified and sufficient to support the application layer logic. There may be many built-in contracts in the application chain (similar to those of Ethereum addresses 1 – 4), which specify platform rules and participant responsibilities, including consensus contracts, verifier contracts, and license contracts. The features available to the public will consume a fixed number of platform pricing certificate (Gas) and will be charged a fixed fee in all cases. Although the license consumption in the application should depend on the different functions to collect different Gases from the rational point of view, in order to avoid the logical coupling between the blockchain layer and the application layer, the Gas transaction in the application layer is designed as a constant value.


II. Consensus Mechanism of POA Validators

The BCEX is the bottom consensus of a series of blocks generated through the modern asynchronous Byzantine Fault Tolerance (BFT) algorithm. The algorithm is inspired by Parity Aura, and also the specific implementation of Parity's Proof Consensus of Authority (POA). POA is a new series of BFT algorithms, which can realize fault tolerance in a set of reliable verification. For the chain of coalitions, such a consensus mechanism is sufficient to meet the needs of all aspects, but the application chain, unlike the chain of coalitions, does not require any trusted intermediary agency or organization to maintain the entire ecosystem in a fully open and public environment. Therefore, the operation and maintenance of the BCEX system set up three basic roles: the main chain verifier, the bridge verifier and the delegate - using the mechanism of selecting the verifier to reasonably reward and motivate them to honestly perform the verifier responsibility. The BCEX designed a set of verifier selection criteria based on POS.


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III. Bidirectional cross-chain and multi-chain ecological transaction agreement

The cross-chain bridge provides the necessary cross-chain communication ability in multi-chain ecosystems for each application chain. It is also a key component of the overall framework, as it not only allows the various application chains to communicate with each other, but also enables them to communicate with other public link networks. Like the blockchain-layer architecture, cross-chain bridges also have independent consensus mechanisms and incentive mechanisms that serve cross-chain transactions while ensuring security and decentralized attributes, like ingotsEX-Chain and ingot sEX-Bridge. In which InotsEX-Chain is a high-performance public chain technology specially built for multi-chain ecology that has optimization in aspects including speed, expansion cost and so on based on the new generation of blockchain technology. The other, the ingotsEX-Bridge, is a bidirectional cross-chain technique used for decentralized asset conversion between multi-chain ecological middle chains.


IV. Application Protocol for Maximum Network Hashrate

Compared with EOS or Ethereum or other open public links, BCEX, in its initial setting, strictly controls the power of logical execution on block links, meanwhile, it also limits the number of smart contracts and ensures that network arithmetic can maximize the service of an application. It is a conscious design strategy designed to reduce the dilution transaction throughput of different applications in the same common blockchain system, so as to avoid network congestion and other problems. Given that each layer is modular in design, different application logic can be deployed on different application chains, and the chains can communicate freely with each other, so as to realize parallel expansion.

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As the bottom service provider of digital currency trading market, the advanced commercial architecture of BCEX provides the participants of the system with the ability of continuous profit and lightning trading, meanwhile, the strong bottom technology of BCEX provides an excellent development environment for ecological builders, moreover, the continuous entropy production rules ensure 100% of the users' spare assets. It is firmly believed that based on the decentralized Defi financial services of BTC and ETH, ingotsEX can realize the shaping of the open platform of ecology, financial derivative services and incubation ecology at the bottom of transactions with unparalleled technical strength and ecological advantages. Moreover, it can complete the strategic objectives of ecological localization, individualization and diversification of ingotsEX, and maximize the value of digital assets and realize the appreciation of digital assets for ecological users. IngotsEX will inject new vitality into the trading ecology, create the peak of the digital currency market, and realize sharing feast of digital asset wealth with global users. 

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