This article explains what is Ecoball, why you chose it, and how to join the Ecoball ecosystem.Welcome to the reading.
What is Ecoball?
Blockchain is a new comprehensive application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm, etc. It has the characteristics of decentralization, tamper-proof, openness, and transparency, and joint maintenance. It can not only solve the issue of trust between people in society today, but also a variety of problems and shortcomings that are bothering human society caused by the extreme centralization of the Internet.
Blockchain technology was first applied to the underlying core technology of the Bitcoin system, and the term "blockchain" was officially defined during the development process. Now it has become one of the most popular words in society. However, since the onset of the Bitcoin system, although blockchain technology has been developed for ten years, it has not yet been massively applied. The reasons are that people have limited knowledge of blockchain and related technologies, and there is a lack of a blockchain underlying technology platform that is truly universal, compatible, open, safe, and efficient which can provide technical support for the development and operation of the Dapp. In this context, the EcoBall blockchain operating system came into being.
EcoBall is a technologically advanced blockchain operating system. Because of its unique breakthroughs and innovations in technical fields such as cross-chain communication, concurrent processing, distributed storage, and blockchain network system architecture, it can fundamentally solve the constraints the four major problems in the development of blockchain truly realizing large-scale commercial engineering applications of blockchain and meet the needs of blockchain DAPP applications in different scenarios.
The EcoBall ecosystem is composed of EcoBall operating system, EcoBall token economic system, community autonomy model, EcoBall blockchain network cloud system, and many EcoBall blockchain Dapp systems, etc., which are used to build a trustworthy value interconnection of human society.
To overcome several major challenges brought by blockchain business, EcoBall has independently developed a hybrid consensus algorithm that takes into account fairness and efficiency, multi-chain dynamic integration, and extremely fast cross-chain message routing mechanisms, etc., to build high-performance and highly scalable blockchain operating system platform.
EcoBall's original design of collaborative smart contract technology, smart contract SDK modularization, and smart contract formal verification technologies greatly reduce the threshold for DAPP development while ensuring the security of blockchain applications. At the same time, EcoBall provides innovative blockchain service systems, such as token economy, domain name services, distributed storage services, etc.
The EcoBall blockchain operating system adopts a layered architecture design, including a core layer, an adaptation layer, and a business layer. The core layer encapsulates the key basic component libraries of the blockchain, including encryption and decryption algorithm libraries, account address management, P2P network components, consensus mechanism libraries, state machines, virtual machines, etc.; the adaptation layer provides APIs, All DAPP applications use the API provided by the adaptation layer to obtain EcoBall blockchain services; the business layer provides an application development platform for a variety of application scenarios, and developers can quickly develop Dapps that meet their own business needs.
- Vote Proof of Stake
Vote Proof of Stake (VPOS) extends the POS model to allow additional individuals to stake their tokens on potential validators (candidates), without participating in block production themselves. Candidates who collect a higher percentage of tokens have greater odds of becoming validators on the network. Rewards are then divided amongst the validators and the staking entities (Voters).
- Decentralized Autonomous Organization (DAO)
DAO is a smart contract algorithm.All financial transactions, rules, and decisions are enacted and stored on the blockchain, creating a transparent and verifiable record. Rules are initially set forth in smart contracts, and members (participating token holders) interact according to these regulations to further the goals of the organization.
- Ultra-low handling fee and ultra-high TPS
VPOSDOA verifies transactions and confirms transactions with high speed, low cost and high efficiency. Compared with the expensive gas cost of Ethereum, the gas cost of EcoBall is almost negligible. TPS can reach 100000+.
- Higher Security and Scalability
The VPOSDOA algorithm is used to effectively prevent various attacks. Please refer to the technical documentation for details. Excellent low-level technical architecture design, with strong scalability, easy to build upper-level applications.
- Native support for cross-chain protocols
It natively supports cross-chain, and is committed to connecting all assets in the blockchain world, so that everyone can enjoy a free, efficient and smooth transaction experience.
- Compatible with Ethereum and Ecological Applications
EcoBall is fully compatible with the Ethereum EVM. It supports Solidity to write smart contracts, the issuance of digital assets, various DEFI applications, and can seamlessly migrate EVM-compatible DEFI applications to the EcoBall public chain.
How to join the Ecoball ecosystem?
A validator runs a node that verifies transactions and finalizes blocks on the EcoBall chain. Each validator must provide the minimum ECO collateral (500K ECO) into their pool and setup a functional node to participate. They start as candidates, and have the chance to become validators each 24h when a new validator set is chosen.
Developers can build various applications on EcoBall, including physical industrial applications and DEFI applications. Due to compatibility with EVM, various applications that support EVM can be migrated smoothly, expanding their application scope and user groups. For details, please refer to the developer documentation.
A voter is a ECO holder who places ECO in a validator candidates pool.If that candidate becomes a validator, the delegator also receives rewards. By placing ECO, voters vote on the candidates they think will make the best validators. Each voter must vote at least 5000ECO.
- Business Users
Business users are concerned about how to build applications on the blockchain, so that they can use the characteristics of the blockchain to transform their business models and gain a leading market advantage. For details, please refer to various industry solutions.