VENA: Implementing a secured and trusted digital asset market on the blockchain
With my research, I found this project in which I really put my faith: VENA NETWORK. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot.
ABOUT VENA NETWORK
Vena Network is creating a protocol that introduces generic smart contracts for the purpose of making a vast array of secure and trustless financial deals. The VENA System is a system where all transactions are executed by the smart contract, and are free from human manipulation, thereby kicking against fraud. Transactions carried out on the Vena network are usually cost effective, efficient and free of incredulous financial mediators.
VENA PROTOCOL ECOSYSTEM
The VENA network allows users to perform peer to peer decentralized transactions around the globe at any time they want to. And when it comes to area, all of the digital assets of the individual are stored straight in their contract if not misused or locked in a streetwise contract when there is an concord. A new block chain project, Vena Meshwork, aims to alter the debt markets, thereby applying the benefits of block chain application to the most spectacular function in the financial sector. The key element of Vena network is Luoshu button that allows users to perform open deal for property and tokens via rocket deal.
Another Component is the Vena Node, which uses the Vena SDK to coordinate and provide comprehensive trading services including loans, asset transactions, credit valuation, contract plug-in contracts, etc. And collect profits by collecting the fee. The main role of the Vena node network is to promote the liquidity of the Vena Network. Also, the Vena node shall deposit the Vena Token as a guarantee according to a specific percentage of the Vena Foundation.
Some features of this platform are highlighted below;
The basic protocol layer
This layer mainly includes registration, configuration, routing, and management of upper layer financial assets.
Asset protocol layer
This is based on assets, completes user-defined financial businesses through the implementation of the terms contract interfaces
The user's digital asset is stored in a wallet or is locked with a smart contract. Since the Vena node does not hold the user's digital assets, it avoids the platform's ethical risks. At the same time, the cost of safety required for node asset deposits is also greatly reduced.
Smart contracts will be used by vena network to standardize the implementation of Vena Protocol on Ethereum. this can be completed with open source contract code released with AGPL protocol and it's far completely loose.
The clever settlement language used by the Vena group is genuinely relaxed to bring about a settlement library this is trendy for both transaction class and debt class.
Vena kernel is a agreement used to authenticate the signature belonging to taking part roles because it relates to transactions. This agreement additionally prevents cast order from being submitted.
This option protects fiat foreign money from malicious fraud and manual affirmation timeout during off-chain transfer.
The total supply of the coin is fixed at 1 billion which will be distributed as follows:
ROADMAP AND DEVELOPMENT PERSPECTIVE
Q2: No printed whitepaper, product abstract verification and startup development, global launch operations, as well as China, Australia, Canada, Russia and also the United States.
Q3: start IEO or DAICO, launch vein Token exchange, open the Dealer Application.
Q4: Open the Coyote State reference book on Github, see Run of the official exchange, launch Luoshu Product one.0, complete the main dealer.
Q1: Luoshu Product one.1 unharness, develop ecology as a whole and open city partner programs (introduce twenty dealers).
Q2: release Luoshu pair0 products, accelerate world business growth, introduce fifty people.
Above you can see the roadmap — how the team sees their nearest and long-term future.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.
Vena Network is the solution to the problems we face in the cryptocurrency world. Problems like high transaction fees in converting crypto to FIAT, centralised trading platforms running business without a legal license, and many more. You can find more information from the whitepaper and the webiste. The links below will help you know more about the project;
Github : https://github.com/venanetwork