Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are a kind of alternative currency and digital currency (of which virtual currency is a subset). Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.
The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since the release of Bitcoin, over 4,000 altcoins (alternative variants of Bitcoin, or other cryptocurrencies) have been created.
In 1983 the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash. Later, in 1995, he implemented it through Digicash, an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or a third party.
In reference with the motion of this article, Today! I will be presenting you a particular undisputed project called: GRABITY
WHAT IS GRABITY?
Grabity: is a public Blockchain project, to transform the Internet paradigm from a centralized network to a distributed network. Current hardware performance has increased dramatically, even enough for smartphones to have better performance than the previous server. However, it does not use 100% storage space or computing power. Anyone can share computer resources through mastered devices such as smartphones, tablets and PCs, and users can receive as many awards as they provide resources, and DApp developers can use shared computer resources to operate services at lower costs. When the Grabity project reaches the commercialization stage, anyone will be able to use distributed nodes to change the Internet paradigm.
The DApps store database is currently on the Blockchain and files are stored on the central server. Because of the limitations of Blockchain’s technology and communication technology, it operates in a hybrid structure. This structure can be used through the Blockchain to some extent but is still vulnerable, but when the server becomes mature, the system will collapse. A truly distributed application must allow files to be used in distribution. However, efficient storage and system systems are needed in managing files on the Blockchain because their capacity increases exponentially.
Because the current Blockchain structure is growing over time, the size of distributed storage that accumulates at each node increases, Network can be reduced by scalability of nodes. However, so that many nodes are free to commercialize the Blockchain. Genesis Hoisting is available for this purpose. Genesis Hoisting is a technology used to connect nodes into the spaces of each node reaching a certain number. The term Genesis Lifts for the process of overwriting files after calculation gives a higher index number than the one in the process of overwriting files after calculation.
The Orbits Network is Grabity’sdecentralized main net that draw a truly distributed P2P network by utilizing all wired/wirelessly connected idle computer resources. Transactions from Orbits Network are managed efficiently through using Genesis Hoisting technology, which can process transactions simultaneously and quickly. In addition, Smart Contract and resource files can be stored in separate portions into each by using the distributed storage technology and Defrag Function technology that can recall each part and execute in a streaming format.
Anyone can share computer resources through already-possessed idle devices such as smartphones, tablets or PCS, and will be able to contribute in building public Blockchain and transform the Internet paradigm from a centralized system to a distributed network.
The Grabity Ecosystem consists of nodes, communities, DApp, and platforms, and each institution contributes to the ecosystem based on economic tokens. We present the token economy and various requirements for the ecosystem to function and develop as follows.
Network layer: P2P-based overlay network. Verify and then spread transactions between nodes through layers. The principle is to use the most basic network bandwidth.
Data layer: Blockchain data structure and physical storage space. Including Merkle Tree, Hash Function, Data Block, digital sign and others that store blocks and DApp files that contain transaction history.
Agreement Layer: Nodes that generate transactions directly verify transactions themselves, and transactions that have been verified by most of the closest nodes are generated as blocks. This is distributed to other nodes, and if a node is set to be a malicious attack, transaction details are initialized and synchronized with verified transaction details.
Application Layer: Provide an application interface on the Blockchain. Smart contracts, virtual machines, DApp, etc. Included and connected directly between data users.
Layer of Management: Toolkit and SDK are provided to form ecosystem development and place 3rd Parties.
GRABITY PROJECT ROADMAP
2018 Q4 Smart contract Deploy
ERC20 based Token issue
2019 Q1 Network Layer Development
(P2P-based overlay network)
Planet Wallet Launching
2019 Q2 Data Layer Development
Consensus Layer Development
2019 Q3 Testnet Launching
Toolkit & SDK Development
Block Explorer Development
2019 Q4 Application Layer Development
2020 Q1 Management Layer Development
2020 Q2 Orbits Network Launching
GBT-based DEX, DApp Store Launching
GRABITY TEAM BOARD
GRABITY ICO AND TOKEN REVIEW
The initial 10,000,000,000 GBT for the development and operation of the project are issued from the Ethereum network. The ERC20-based GBT will be replaced with the Orbits Network-based GBT after the main net launch. In addition, since the main net, GBTs are issued in addition to consideration of the inflation rate for the purpose of compensating computer resource providers. The rate of inflation can be flexible, but will be determined in a way that does not exceed 5% to protect token holders and ecosystem participate.
Tokens except for the pre-sale and public sale are sold in private rounds.
Unsold tokens are due to be incinerated.
Percentage of sales Token from total Token: 70%
Total Token amount: 10,000,000,000 GBT
Token Token sale amount: 7,000,000,000 GBT
Hard cap : 30,000,000 USD
Soft cap : 10,000,000 USD
The consumers of computer resources can use the Orbits Network using GBT for less than the cost of building or maintaining existing servers, and the provider of computer resources can obtain GBT by providing Orbits Network with idle resources or extra devices of their own devices.
Demand for GBT
Consumers who need computer resources should purchase GBT.
Need to purchase GBT to participate the in the ICO on the Orbits Network-based DApp
GBT is DApp’s main currency, and if DApp’s users increase, demand can increase.
The reward for providing computer resources after the main net launch can be expected to increase the demand for GBT, determined from the additional computer resources and GBT.
For more or further details, please! Kindly follow the links below:
TOKEN SALE: https://grabity.io/sale