The blockchain constructed by Bitcoin has successfully shown how an unspecified number of anonymous people in the cyberspace can do activity for their own interests without central control. There is undoubtedly historical significance to the collaboration on cryptographic formation in proofs on trustless cyberspace. Unfortunately, Bitcoin’s weaknesses prove to be too numerous to be widely used in everyday life and very few recent crypto projects have been designed to be self-sustaining.
The fatal drawback of most cryptocurrencies is the unequal allocation of incentives to the rich: the rich miners in the Proof of Work (PoW) or the rich stakeholders in the Proof of Stakes (PoS). The pattern of larger interests given more control in voting and receiving the most rewards also results in a network which leans toward an oligarchy inclined to collude rather than compete. This results in the minority with the largest interests becoming wealthier and having more power as delegates, earning more tokens as they earn more rewards. With an increasing supply of tokens, the minority gains a proportionally higher share of the vote to be elected, thus repeating a cycle which consolidates the power into the hands of the few powerful delegates. This results in impeding entry of new participants, therefore resulting in a lack of sustainability.
To provide the solution to the problem, the EcoVerse™ platform uses Artificial Intelligence Delegated Proof of Contribution (AI-DPoC) consensus.
WHAT IS AI-DPoC ?
AI-DPoC is the Consensus algorithm used by the EcoVerse™ platform, similar to the DPoS (Delegated Proof of Stake) used by EOS. In DPoS, a small number of individuals with high investment and sufficient computing ability are elected to produce blocks, and get incentives for it. However, just like many consensus algorithms, DPoS has many problems such as the unfair distribution of wealth, the possible collusion due to power centralization, and the vulnerability to network attacks.
In AI-DPoC, to resolve these problems from the start, blocks are not created directly by participants, rather they are created automatically by the nodes which are provided by the Foundation, and parliaments will be formed and involved according to contribution. They will be vespousible to manage for the nodes to operate smoothly and receive rewards in return. At this time, most of the processes including block generation are performed automatically. AI techniques are used to detect and respond to abnormal situations such as hacking, system faults, and network fragmentation.
WHAT IS ECOVERSE ?
EcoVerse is the first ever self-sustainable platform using AI-DPOC (Artificial Intelligence-supported Delegated Proof of Contribution). EcoVerse solves daily usability and universal adoption by improving transaction times, security, and interconnectivity. The platform boasts up to a million Transactions Per Second in a lab setting. AI-DPOC will facilitate an ecosystem capable of distributing rewards gained from the consensus process, as well as incentivizing all participants in the process.
The EcoVerse™ platform provides not only a blockchain ecosystem, but an environment where cryptocurrency can be used in daily life. It also provides a template-based development environment to develop apps with ease, such as creating a home page. EcoVerse™ is the first ever self-sustaining ecosystem based on a blockchain network developed for daily usability and universal applicability. It is capable of handling up to a million transactions per seconds (TPS) with a less than two second transaction finality time (TFT).
EcoVerse focuses on distributing wealth fairly
- Lack of Daily Usability and Universal Applicability
- Centralized Wealth and Power
- Vulnerable Security
- CONFIRM: (COmprehensive ‘N Flexible Incentive Reward Model) Algorithm
- AI-DPoC: (AI-supported Delegated Proof of Contribution) Consensus Algorithm
- TSTP: (Triple Shield for Triple Protection) Security
WHY TWO COINS ?
To create complex decentralized applications with an advanced array of templates on EcoVerse; As usable as fiat and credit cards, EcoVerse supports a two coin system that answers both the need for privacy and KYC/AML regulation and allows for a stable currency, optimal for for the needs of e-commerce, and a utility coin growing in value.
- ECX is a private tethered coin focusing on value stability for transactions between dApps within the ecosystem and small payments in everyday life.
- ECR is a public utility token for interchange among ledgers. Also ECR allows to set the exchange rate for service use and payment transaction to Bitcoin, Ethereum and other blockchains.
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Author : adempostaci
BitcoinTalk : https://bitcointalk.org/index.php?action=profile;u=1538255