VENA Network Project
Dear reader, Just as my usual practice of bringing valuable and profitable information across your way, let me quickly give you information about this great innovation known as “Vena network ”. Please sit down and relax your nerves as you read. Also, I encourage you not only to read but also to take an important step as part of this great innovation.
Vena Network is an open block chain-based protocol in which the generic architecture allows users to write contract terms to define rules for various decentralized financial activities, including release. ownership, loans, transactions, etc. Users can retain copyright and thus have the natural development of a market for smart contract templates in Vena Network. Vena ensures that basic interfaces can be freely defined and provide a standard intelligent contract debt (loan, credit, mortgage) and transaction library to help users create interactive financial DApps. ) fast, convenient and safe.
Key features of Vena Network
Build a dispersed business network using an encrypted business model
Users will receive decentralized identity authentication for transactions involving credit and currency.
The protocol design is clearly defined. Very basic layer of abstraction protocol to enhance the degree of freedom for secondary development, bringing more ecological role than many more innovative scenarios; Standard library endogenous library protocol protocol Layer properties includes debt contracts (debt, credit, mortgage) and commercial contracts, acting as a precursor of the company to build financial ecosystem and exchange upwards .
Conduct closed circuits of digital assets, from issuing assets to secondary market transactions, and directly carrying out spot transactions, mortgage transfers and asset movement (Single stable monetary support) in the Vena ecosystem .
Supports the NFT (no symbol) standard and realizes a value-added mortgage for the portfolio through a self-determined contract.
The third party implementing the example contract library in the ownership protocol layer will retain the copyrights, setting an example contract and service contract and the author will be able to charge the service fee to the user.
Different roles within the protocol ecosystem will be compensated: for example, auditors can use their own data model to provide users with quality and cost-effective credit evaluation services
Business model the Vena Network
Vena Network is an open source project intended to fill the gaps of electronic money ecosystems instead of a business. Vena Foundation is a non-profit organization created by the Vena team in Singapore. The objective of the Vena Foundation is to ensure the sustainability of the Vena project, the effectiveness of decentralized governance, the security and transparency of the mobilization of capital, as well as the development and support to start-up companies based on the protocol. Vena.
To promote the healthy development of the Vena network, the Vena Fund has put in place a global incentive mechanism that essentially comprises:
The Vena Button acting as an appraiser or Answeree must be reviewed and approved and assigned to a number of Vena Tokens in favor of the Vena Fund as a deposit, and the node may earn a profit in charge.
The jury must be examined and approved and commit a certain amount of Vena tokens into the Vena fund as a deposit. At the end of each arbitration, judges who make reasonable judgments will receive a reward for the token and judges who make an unreasonable judgment will lose information (see 5.2.3 for more details).
Analyze the application scenarios and benefits of Vena
Both sides of the transaction agree on the volume, price, time and location of the transaction via the software, such as Facebook, Telegram, WeChat, QQ, etc., without the participation of any party that it would be. Third This method is applicable to local contracts presenting a relatively high security risk and even a risk to the safety of persons.
Due to the anonymity of electronic money, when one party violates the protocol, the rights and interests of the other party are secured in a difficult manner. What's more, it is difficult to obtain and present evidence after such a situation. With the exception of some countries where e-money transactions are incorporated into the legal framework through licensing, most countries and regions do not enjoy legal protection for e-money transactions, which increases probability that traders are exposed to a risk of fraud.
Concentrated mortgage lenders
Concentrated mortgage lenders typically offer only user-oriented and user-oriented services that are heavy and expensive to manage mortgage loans in traditional institutions, such as: the Bank; In addition, many unjust and opaque terms are fulfilled. Currently, most lenders can not accept electronic money as collateral. We hope that e-money holders will be able to obtain loans from all over the world and will no longer be dependent on local banks or mortgage lenders.
Today, with control of the government's monetary policy, inequality is affecting the mortgage market. There are therefore differences in interest rates between countries and regions because of the different levels of risk and the rate of inflation of fiduciary currencies. For example, real estate mortgages in Brazil may have an annual interest rate of 32% (adjusted for inflation) while similar loans in Europe may represent an interest rate of 0.5% to 5%. %. every year.
The advantage of the Vena protocol ecosystem
They target the protocol layer in the blockchain to create an ecosystem. The attraction and the benefit is that it does not try to answer all the details of the market in the vertical direction, but rather to promote different roles within the ecosystem to develop the market. This is a trend that can be observed in many industries by providing these people with the help of an infrastructure to create value.
Thus, they summarized the basic rules of the financial system by addressing layered design and progressively promoting emerging markets and roles in the Vena-based ecosystem. Negotiation of receivables and transactions.
In the case of debt-based scenarios, we do not solve the problem by defining and optimizing a system for all for a particular type of loan, be it a microfinance network. of P2P or a decentralized loan protocol, as these solutions have a common disadvantage - they are tailored to specific types of debt, and the debt includes a range of assets, Receipt of payment to ensure sovereign security for each case use. The custom protocol for each user is very inefficient and redundant. Therefore, they provide our solution.
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