VINchain Basic Usage – The VINchain plants to implement in token system for easy handling the vehicle information queries in a VINchain system. End users will pay VIN code for all information available onchain. Information requests are designed to rely on a very simple symbolic economy from aspects facing customers in the payment system.
Customer Economics
In order to have a successful token system, it is necessary to utilize the simple economics. Broad system adoption is very easy when the process is simple enough for end users to easily understand and believe. For users who want to retrieve information from a VINchain system, the transaction costs will always be in the VIN token. In addition, the long-term goal of the project is to strengthen economic control over the use of coins to achieve a fixed symbolic price for traditional state-backed currencies.
Information Provider Economics
When users exchange token of special vehicle information, all active participants in the network are compensated by part of the token. The token allocation will initially be associated with the event. The events include things like property changes and accidents.
Long-Term Algorithms
Long-term algorithms will be designed to find equations in the information used to determine the distribution of costs to the information provider accurately. To achieve this, you must create a typical Oracle element outside the string to report the event value at any time. As we mentioned earlier, it will initially evaluate all events equally until a large data store is created and an effective algorithm is identified.
Website: https://vinchain.io/en
I didn't know about vinchain. Thanks for your article.
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