What is Vena Network ?
Vena Network may be a blockchain-based open protocol within which the generic design permits users to put in writing contract terms to outline rules for a spread of decentralized money activities as well as unleash property, loans, transactions and then on. Users will keep copyright and therefore have the natural development of a marketplace for good contract templates in blood vessel Network.
Features of Vena Network
Building a scattered mercantilism network victimisation associate encrypted economic model.
Users can receive decentralized identity authentication to conduct transactions involving rescript credit and currency
The protocol style is clearly outlined. Basic protocol categories are terribly abstract to boost the degree of freedom for secondary development, transportation a lot ofecological roles to a lot of innovative scenarios; The endogenous endorsement protocol supports normal contract libraries as well as debt contracts (debt issue, credit, mortgage) and dealing contracts, that act as a precursor to the business of building money coming up with and scheme exchange.
Achieve closed electronic equipment of digital qualitys from asset issue to secondary market transactions, and may directly complete spot transactions, mortgage transfers, and quality circulation ( solely stable currency support) within the blood vessel scheme.
Supports the NFT normal (no symbol) and achieves a added loan for the portfolio through a self-determined contract.
The third party implementing the sample contract library within the property protocol layer can retain the copyright, thereby establishing a sample contract deal and repairmarket and therefore the author could charge the user for the service charge.
Different roles among the protocol scheme can receive compensation; for instance, auditors could use their own information model to produce users with quality credit assessment services and obtain profit.
How does Vena Network work?
The Luoshu button is that the key part of the project. It permits associate open deal for tokens and property grants through the Rocket deal. The network permits anyone to perform peer-to-peer transactions and manage digital assets anyplace, anytime.
The certified Luoshu button should have all the conditions of the loaning activity within the space of operation. this suggests that the agreement should go with all laws and rules of that exact location.
Advantage of the scheme of the Vena protocol
They target the protocol layer within the blockchain to make associate scheme. The attraction and advantage is that it doesn't try to cater to all or any market details within the vertical, however rather to push totally different roles among the scheme to expand the market. this can be a trend that may be determined in several industries by providing these people with the assistance of infrastructure to form nice price. Thus, they abstracted the essential rules of the economic system by approaching superimposed style and bit by bit promoting rising markets and roles within the blood vena Protocol-based scheme. Dealing in debt and dealing transactions.
Business of Vena Network
Vena Network is associate open supply project to fill the gap of e-money ecosystems rather than an organization. vena Foundation may be a non-profit organization established by the vena team in Singapore. the aim of the vena Foundation is to make sure the property of the vena project, the effectiveness of decentralized governance, the protection and transparency of capital mobilization, and therefore the development and Support for start-up businesses supported the vena Protocol.
To promote the healthy development of the Vena Network, a comprehensive incentive mechanism was established by the vena Fund, that primarilyincluded.The vena Button acting as associate Appraiser or Answeree ought to be reviewed and approved and committed to a particular quantity of vena Tokens to the Vena Fund as a deposit, and therefore the node could build a profit by charge.
The jury should be reviewed and approved and commit a particular quantity of vena Tokens to the vena Fund as a deposit. At the tip of every arbitration, judges WHO build cheap judgments can receive a present for the token associated judges WHO build an unreasonable judgment can lose data (see five.2.3 for details).
Users get fiftieth discount once victimisation vena Tokens to pay the fee.
Vena protocol
To be applied to loans and transactions from trust to cryptocurrency (ETH, BTC, etc.)
Both parties to the dealing don't have to trust trusty third-party intermediaries, the protection of the dealing is warranted by the protocol
Use the Aragón software system to perform a decentralized management
Vena node network
The main perform of blood vessel network node is to push liquidity vena network, vena node will use vena SDK to customise and provide users comprehensive dealing services embrace however not restricted to loans, quality transactions, credit analysis, contracts of plug-in contract, etc., and obtain a profit by assembling fees.
Qualification
Certificates vena nodos should have qualifications and knowledge in small credit operations and go with the laws, rules and policies within which they operate.
Ensure that
Certified Vena nodes can deposit the vena tokens as collateral reckoning on a particular share within the vena Foundation.
Highly liquid certified Veta nodes
they can place orders in a very shared liquidity cluster, the vena nodes will share orders and procure prices by promoting transactions and increasing the liquidity transactions of the network with economic incentives from the distribution of profits.
Security
The digital assets of the users are keep in their wallets or blocked in a very good contract. vena nodes don't have digital user assets, therefore avoiding the ethicalhazards of the escape platform. At the identical time, it additionally greatly reduces the protection prices necessary to deposit assets for the nodes.
Uri Jury application
To join the vena Network Jury, it's necessary to initial submit letter of invitation to vena DAO and supply proof of identity. when the approval of the appliance, it's necessary to participate within the on-line coaching and analysis of the vena jury.
Arbitration
The complete arbitration software system runs on the infrastructure engineered by Ethereum and IPFS. Through an easy computer program, judges will simply receive proof submitted by each parties and perform arbitration
Economic incentives and Deposit Guarantee
To encourage the judges so as to use the ability of the jury properly, the judges deposit a vena token in vena DAO
Output mechanism mechanism
You will begin once circumstances occur throughout the term of the contract as follows: A. The volunteer interpreter for the exit B. you've got a fine of over five times throughout the amount of the contract C. DAO Committee vena determines that the jury encompasses a clear mistake. (as a conspiracy to commit fraud)
Network decide
The jury network applies to things wherever good contracts can't be handled and can gift the results to a wise contract.
Token Distribution
The total quantity of vena Token issue is one billion. and therefore the tokens for groups, advisors, personal sale, crowdfunding sale, foundation, and incentive pool are going to be distributed by good contracts as follows:
Roadmap
- Q2: Release white paper, verify product concept and launch development, launch global operations, including China, Australia, Canada, Russia and United States.
- Q3: Start IEO or DAICO, launch Vena Token Exchange, open Agent Application.
- Q4: Open source SD book on github, run test of the official exchange, launch Luoshu product 1.0, resolve the first agent.
- Q1: Release of Luoshu Product 1.1, complete ecosystem development and open city partner program (introducing more than 20 agents).
- Q2: Luoshu 2.0 release, promoting global business growth, introduced more than 50 dealers.
For Further Information About Veins Network Please Visit Below:
Website : http://vena.network/en
Whitepaper : https://bitcointalk.org/index.php?topic=5031375.0
Telegram : https://t.me/vena_network
Twitter : https://twitter.com/VenaProtocol
Facebook : https://www.facebook.com/Vena-Network-207271413455484/
Author
Bitcointalk user name : smathjon1234
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1623153
ETH address : 0xE93616059aF66D157b1DFd0241e918149c43381b