EcoBallChain is an underlying blockchain system with a keen sense of innovation and a solid technical accumulation. Creative integration of PoW and POS consensus mechanism, with high transaction processing efficiency and relatively low cost, is to bear the needs of a large number of application scenarios landing. Ecocall can support the following type application, but are not limited to these.
Decentralized Exchange (DEX)
At this stage, most decentralized exchanges mainly run on Ethereum, which is limited by the congestion, low concurrency, and high gas fees of the Ethereum public chain, which makes the existing DEX user experience very unfriendly. EcoBall uses a flexible and elastically consensus mechanism to allow developers to build a safe and efficient DEX with fast transaction speed and low transaction fees. For example, the HotpotDex.com decentralized exchange that has been built on EcoBall uses some optimization algorithms to reduce the problem of impermanence caused by the automatic market maker (AMM) mechanism. The screenshot below is the implementation of this decentralized exchange algorithm.
In the traditional financial field, mortgage loans is a very common financial product. We can mortgage houses, cars, and even goods, and ask a professional appraisal agency to make an appraisal, and then use this appraisal as the basis for borrowing money. Mortgage loans have always been regarded as relatively safe financial loans because financial institutions can sell the collateral once the borrower fails to repay the money.
In recent years, in the field of digital currency, a new model has also emerged: digital currency mortgage lending. If users want to borrow 100 US dollars, they shall transfer at least 150 US dollars worth of digital currency to the platform to lock, after which the system will automatically release the funds. Compared with the traditional mortgage loan model, digital currency mortgage has unique advantages in terms of operating costs.
For example, to mortgage a house, the platform needs to verify whether the borrower is the real owner of the property and evaluate the property value. Once the borrower is unable to repay the loan, the platform will also need to bear the costs of manpower and time to auction the property. The same is true for mortgaged cars. The financial institution has to find a garage to store the cars, and cars have to be auctioned at a later time. These traditional financial mortgage processes are very long and costly. As a digital currency lending platform, there is no need to face these problems. When a digital currency worth $150 is about to fall below $100, the platform will sell the currency. From this point of view, the platform will not lose money at all, and this model is almost risk-free.
These digital currency mortgage lending platforms, like traditional mortgage lending, also rely on interest to make money. At present, the annualized interest rate of this industry is about 10%, and the rate of return is still very attractive.
The DeFi platform mainly provides decentralized insurance services in the two forms of mutual insurance and financial derivatives. It is an insurance agreement based on smart contracts that cannot be tampered with and is enforced automatically. It mainly targets common risk events in the token circle (including private keys Theft, exchanges are attacked, wallets are stolen, smart contracts have vulnerabilities and are manipulated) to provide risk protection.
Algorithmic stable currency is also called unsecured stable currency. It has no collateral and directly issues token through a smart contract imitating the central bank. Issuers claim that the stable currency issued is worth 1 U.S. dollar, so that the market has an expected price for this. When the currency price rises, through additional issuance, the price drops to 1 U.S. dollar. When the price of the currency fell, the supply of stablecoins was recovered through the issuance of "bonds", and the price rose to $1.
Non-Fungible Token NFT (Non-Fungible Token) has the characteristics of indivisible, irreplaceable, and unique. It provides a way to mark the ownership of native digital assets (that is, assets that exist in the digital world or originate from the digital world). ). The ownership can exist outside the centralized service or centralized library. The non-Fungible and inseparable nature of NFT makes it possible to bind to some commodities in the real world and issue digital assets on the blockchain. This asset can be game items, digital artwork, identity certificates, Tickets, domain names, etc..These tokens are unique and non-copyable. Since NFT has natural collection attributes and is convenient for trading, crypto artists can use NFT to create unique digital artworks.
Distributed Computing and Storage
The distributed computing and storage market is large, and the computing, transmission and storage of massive amounts of data is huge rigid market demand. According to the "Data Age 2025" released by the International Data Corporation (IDC), the global annual data will increase from 33ZB (1ZB=10 trillion bytes) in 2018 to 175ZB, which is equivalent to 491EB (1EB=1.1529) per day. e+18 bytes) data.
EcoBall Distributed Computing Storage System (EcoBall File System, EcoFS), is a decentralized P2P distributed file system by technical architecture, it is the next generation of distributed shared blockchain storage system evolved from IPFS and FileCoin; As for the economic model is concerned, EcoFS is a shared distributed cloud platform and economy. It is composed and owned by every user. Just like the arrival of the Internet and 5G, more and more data is generated by individuals, allowing users to become the main body of the sharing economy. EcoBall incentive mechanism and the dual engine of the cloud service platform allows users to enjoy consumer applications and contribute incentive dividends in the blockchain era.
EcoFS, with its technological leadership and applicability, can shoulder the important task of blockchain distributed storage technology standards and product ecological builders.