What is vena Network ?
Vena Network could be a blockchain-based open protocol during which the generic design permits users to write down contract terms to outline rules for a variety of suburbanized monetary activities together with unharness property, loans, transactions then on. Users will keep copyright and therefore have the natural development of a marketplace for sensible contract templates in vena Network.
How will vena Network work?
The Luoshu button is that the key part of the project. It permits associate open deal for tokens and property grants through the Rocket deal. The network permits anyone to perform peer-to-peer transactions and manage digital assets anyplace, anytime.
The certified Luoshu button should have all the conditions of the loaning activity within the space of operation. this implies that the agreement should accommodates all laws and laws of that specific location.
Features Of Vena Network
Vena can design a distributed business network through the utilization of an economic model that's tokenized.
Users of the vena network platform can notice it easier to conduct transactions associated with order currency and credit as a result of their identity are going to be echtthrough decentralization.
Vena has a protocol design that's well defined. The protocol layer was designed to be abstract so secondary development will have freedom for creative thinkingthroughout its improvement, which might be the addition of additional ecological roles and innovations. The plus facet of the protocol layer supports debt contracts and another normal contract library like a collateral loan, credit, debt supplying and mercantilism contracts. of these facilitate build associate exchange platform and plusfinance.
Vena aims to create a closed-loop digital pluss circulation that begins from asset supplying then moves to exchange the secondary market. By therefore doing, activities like spot transactions, collaterals circulation, and pledge transfer right are going to be attainable inside the blood vessel platform.
Vena can support non-fungible token or NFT for brief and conjointly facilitate portfolios receive collateral loans with value-addition through contract terms that are self-defined.
Advantage of the scheme of the vena protocol
On the vena platform, users are entitled to such a big amount of advantages and a few of them embody the following:
The problem of collateral worth fall are going to be handled by a mechanism place in situ by vena referred to as required liquidation.
If within the event collateral worth falls quickly with no time to liquidate, vena can use another protocol referred to as token supplying mechanism.
A suburbanized governance are going to be introduced with the utilization of Aragon package.
Smart contracts are going to be designed and managed with Zeppelin_OS
Vena can build offered ASCII text file with AGPL open supply allow.
Business of vena Network
Vena Network is associate open supply project to fill the gap of e-money ecosystems rather than a corporation. vena Foundation could be a non-profit organization established by the vena team in Singapore. the aim of the vena Foundation is to confirm the property of the vena project, the effectiveness of suburbanized governance, the protection and transparency of capital mobilization, and also the development and Support for start-up businesses supported the vena Protocol.
To promote the healthy development of the vena Network, a comprehensive incentive mechanism was established by the vena Fund, that basically included:
The vena Button acting as associate Appraiser or Answeree ought to be reviewed and approved and committed to a particular quantity of vena Tokens to the vena Fund as a deposit, and also the node could build a profit by charge.
The jury should be reviewed and approved and commit a particular quantity of vena Tokens to the vena Fund as a deposit. At the top of every arbitration, judges WHO buildaffordable judgments can receive an award for the token associated judges WHO build an unreasonable judgment can lose data (see five.2.3 for details).
Users get fiftieth discount once victimisation vena Tokens to pay the fee.
Vena protocol
To be applied to loans and transactions from trust to cryptocurrency (ETH, BTC, etc.)
Both parties to the group action don't must trust sure third-party intermediaries, the safety of the group action is secure by the protocol
Use the Aragón package to perform a suburbanized management
Vena node network
The main perform of vena network node is to push liquidity vena network, vena node will use vena SDK to customise and provide users comprehensive group actionservices embody however not restricted to loans, plus transactions, credit analysis, contracts of plug-in contract, etc., and obtain a profit by grouping fees.
Qualification
Certificates vena nodos should have qualifications and skill in small credit operations and accommodates the laws, laws and policies during which they operate.
Ensure that
Certified vena nodes can deposit the vena tokens as collateral reckoning on a particular proportion within the vena Foundation.
Highly liquid certified Veta nodes
they can place orders in a very shared liquidity cluster, the vena nodes will share orders and acquire prices by promoting transactions and increasing the liquidity transactions of the network with economic incentives from the distribution of profits.
Security
The digital assets of the users are hold on in their wallets or blocked in a very sensible contract. vena nodes don't have digital user assets, therefore avoiding the ethicalhazards of the escape platform. At the identical time, it conjointly greatly reduces the safety prices necessary to deposit assets for the nodes.
Problem
When it involves a centralized exchange system for the cryptocurrency, the USD is substituted with a digital various created by Tether referred to as USDT for transactions. This digital currency is moon-faced with lots of issues and a few of them include:
• The funds happiness to Tether could become frozen.
• A tether could become bankrupt
• The bank employed by Tether might also suffer bankruptcy.
The demands for USDT as a digital various for order currency can cut back if folks will handle their transactions handily and safely between paper currency and cryptocurrency.
Solution
Vena Network agrees that transactions ought to occur between the involved parties which intermediaries mustn't participate within the method. vena believes that users ought to have the liberty to manage their assets with no input from third party agents. vena helps to map debt-based assets into generic tokens {which will|which will|which is able to} then be publically issued so investors of all kind can participate within the method that transforms the proprietary market into a public market free from monopoly.
RoadMap
Team
For Further Information About Veins Network Please Visit Below:
Website : http://vena.network/en
Whitepaper : https://bitcointalk.org/index.php?topic=5031375.0
Telegram : https://t.me/vena_network
Twitter : https://twitter.com/VenaProtocol
Facebook : https://www.facebook.com/Vena-Network-207271413455484/
Author
Bitcointalk user name : smathjon1234
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1623153
ETH address : 0xE93616059aF66D157b1DFd0241e918149c43381b