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Vehement Media Network

The Application of FIC in the Mining Ecosystem of Cryptocurrency

The world economy is surging, investment and wealth management business has become the fastest growing business in global finance. The digital economy takes the lead, and digital currency investment is reshaping the world economic landscape.

Since the birth of blockchain technology in 2008, the digital currency industry led by Bitcoin has developed rapidly, with investment income reaching tens of thousands of times, making it the biggest dark horse in the investment world. The considerable profit has attracted the attention of a large number of investors, who have devoted themselves to the mining market, leading to a surge in the computing power of the entire network.

However, the existing computing power resources continue to gather to the top players, like the so-called “mine lords” who can determine the income distribution rules, and personal gains cannot be guaranteed.

The world needs a decentralized digital currency investment product, FIC turned out to be right for you!

FIC is needed for hiring miners to increase computing power for pledged mining, and for the transaction fees of decentralized exchanges. All miner fees and transaction fees are regularly burned. Unique computing power improvement logic and the regular burning mechanism make sure the value of FIC to rise infinitely. And by weighting index contracts of multiple mainstream currencies, market fluctuations can be effectively mitigated, thereby creating more stable and less risky investment opportunities.

FIC provides multiple functions such as value sniffing, pledge, mining, trading, private chat, etc. It also launches mainstream index-tracking funds, innovative index-tracking funds, index interactive arbitrage stable funds, high-frequency index funds, etc. It actively integrates big data and uses artificial intelligence to adjust mining strategies in a timely manner to achieve stable returns with minimal risks, making the concept of aggregate value investment a reality.

FIC is here to blaze new trails. It uses advanced technologies such as artificial intelligence, big data, and the Internet of Things to build diversified pledge mining, distributed storage, and super node, so as to bring unparalleled high ROI.

The platform adopts the POW and POS modes in parallel, fully covering multiple currencies, and actively exploring the opportunities of staking economy under the POS mechanism. Users do not need to purchase physical mining machines, they can directly use FIC’s cloud mining platform and participate in global high-quality mining pools with one click. Users only need to hire miners to increase their computing power to achieve fast and convenient mining and obtain digital assets, FICs, accordingly.

The foundation of FIC’s ecosystem bases completely on blockchain technology. Assets are under the control of individuals, and the application of the aggregation engine allows more users to shuttle freely in the world of value investment. Clearing and settlement are completed through smart contracts in real-time, achieving a more efficient, convenient and safe transaction experience. By minimizing dependence on trust, the cost of trust between individuals is reduced.

FIC expects everyone to be their own master, freely mobilize their own assets, and find assets that are worth investing. FIC builds an autonomous ecosystem on the basis of decentralization, privacy and fairness, which guarantees the security of value investment and fairness of each investor’s financial participation, stays away from the dangers in centralized finance and builds a truly decentralized investment ecosystem and a closed value loop.

The future is here, so as a prosperous era. Let’s invest in FIC and head towards our “Future”!

FIC provides everyone with the opportunity to change their destiny and wealth; FIC is a great practitioner who creates a better version of the world’s financial system!

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Market Watch

GreenTrust Token: A Sustainability Alternative to Typical Crypto

Cryptocurrency and blockchain financing have been suffering from a black eye lately because the traditional form of crypto mining generally involves a high demand on the standard power grid.

And that drives up the need for more electricity consumption as well as the additional fuel sources needed to create that electricity. While some countries have focused on producing energy from solar or hydro sources, many other countries with significant crypto-mining operations rely on their power from dirty sources like coal and similar.

An Alternative to Polluting Crypto

Alternatively, imagine a cryptocurrency purposefully designed to be compatible with sustainable objectives and the environment. Instead of producing waste, the crypto coin produces value and net gain. There are no negative side effects and downstream losses. It can operate on a viable and valid blockchain network, the Binance network, and it still provides the exponential benefits of blockchain data transfer, value exchange and more. This is the concept with the GreenTrust token.

Originally put out on the Binance network in April 2021, the Green Trust token was intended to hit two goals right away: avoid creating more pollution and energy waste problems in its product, and boost computational capability. GreenTrust token is strategically focused on merging the power generation sector with cryptocurrency mining. Developing expertise and knowledge of green technologies, GreenTrust aims to bring renewable energy solutions for powering blockchain mining operations. Additionally, The GreenTrust network is committed to planting new trees to offset the minimal carbon footprint it does create, producing far more positive impacts than what typically occurs with other cryptocurrencies.

Making a Point on the Blockchain

The GreenTrust token is one of the few options that pushes the green economy proactively into the blockchain environment to stop carbon emission damage in the physical, real world. Further, every commitment and staking adds to the carbon sequestration with new trees adding oxygen and reducing greenhouse gases in real-time application. The other big currencies like Ethereum, Bitcoin and Ripple can’t say the same.

Granted, there are lots of choices on the Ethernet now for digital cryptocurrency investment and value staking. However, it’s time for financial digital power to go beyond just the basic purpose of producing gain and making a profit. It’s time to also push the blockchain to producing greater change than simply moving financial assets from one network to another. The GreenTrust token does exactly that, helping people engage blockchain in sustainability, reducing the negative effects of prior crypto mining, and helping preserve the world, maybe as a better place for the next generation at the same time. 

Contact:

GreenTrust token

info@greentrusttoken.com

Categories
Vehement Media Network

What is MEMO – Leading Decentralized Cloud Storage System on Blockchain

Description: MEMO, short for Memoriae, is an open-source decentralized cloud storage system designed by Memolabs. You can read in detail the highly secure, reliable, cost-effective decentralized cloud storage system planning design of MEMO.

Abstract:

  1. Original Intention for Decentralized Cloud Storage System Design via MEMO
  2. System Requirements–Problems We Need to Solve
    • Management of System Roles–Solve the Problem of Role Division
    • Management of Storage Market–How to Implement Decentralized Cloud Storage Service in MEMO System on Blockchain
    • Management of Data maintenance–Solve the Problem of Data Maintenance
  3. Management of Smart Contract
  4. How to Call the Smart Contract?

Original Intention for Decentralized Cloud Storage System Design via MEMO

Nowadays, everyone is deeply surrounded by massive amounts of information. On the one hand, it does raise anxiety among people; on the other hand, there is no lack of useful information for those in need. Besides, almost every individual has the need for storing private data, especially for some organizations.

However, with the exponential explosion of data, people have found that the cost of existing data storage methods has increased correspondingly. In addition, frequent information security incidents also make people re-examine the existing data storage mode, and people look forward to a safer and more efficient new storage mode. Considering the above, the decentralized cloud storage based on blockchain has emerged.

What is decentralized cloud storage ? Compared to traditional centralized storage, the brand-new decentralized cloud storage  organizes and utilizes the idle electronic devices scattered around the world, such as mobile phones, computers, hard drives, etc., which can all be used as edge storage nodes. At present, the blockchain-based decentralized storage network is still in the stage of continuous exploration. After continuous efforts, Memolabs, as a blockchain data storage company, has developed a new generation of blockchain-based decentralized cloud storage system MEMO. Compared with other blockchain-based DCS systems,MEMO adopts a more concise and efficient technical processing method to protect the data of Keeper, Provider, and User, thereby ensuring the high security, reliability, and cost-effectiveness of the entire storage system and enabling users to obtain better-quality experience.

System RequirementsProblems We Need to Solve

Since the decentralized cloud storage system is deployed in a low-trust P2P network, there is no centralized third-party organization responsible for the management, and the storage devices are mostly idle edge devices offered by Providers, not proprietary storage servers. Therefore, for this application scenario, the decentralized cloud storage management system first faces system management problems, which are divided into system role management, storage market management, data maintenance management, etc. These management requirements are ultimately solved by smart contracts, so the management problems of smart contracts must also be solved.

1. Management of System Roles–Solve the Problem of Role Division

According to the needs of storage scenarios and functions, users in a decentralized cloud storage system are divided into three categories, which are defined as User (storage demander), Provider (storage provider) and Keeper (storage coordinator). Their functions in the system are stated as follows:

User (Storage Demander): use storage service, including uploading data which is then saved by the storage node in the system, downloading and reading stored data according to needs.

Keeper (Storage Coordinator): responsible for the function of information intermediary and management, including collecting the situation of storage provided by the Provider connected to it; collecting the evaluation information of the Keeper connected to it; seeking for the suitable Provider according to the User’s storage needs and challenging the Provider.

Provider (Storage Provider): provide storage space, including providing User with storage space, saving User’s data, keeping online to satisfy User’s requests for downloading and reading data at any time.

2. Management of Storage Market–How to Implement Decentralized Cloud Storage Service in MEMO System on Blockchain

The key application of Mamoriae is storage service, so the management of storage market is essential. With the help of Keeper, User finds some suitable Providers who provides the space and time for data storing. Keeper challenges Provider on a regular basis, so if there is a Provider found to fail, then the data repair function needs to be triggered. User downloads and reads its data from Provider when there is a need. According to the application scenario above, User needs to pay Provider for storing and downloading data and pay Keeper for information coordination and management.

If one of the three roles violates the storage rules, such as damaging data and refusing to repair, etc., a corresponding penalty mechanism is needed to maintain the normal operation of the system. How Keeper matches between User and Provider; how to pay according to the price after the storage service is established; how to solve it when faced with a request from a User to download data. These problems stated above are collectively referred to as the requirements of storage market management, so MEMO has designed a storage duration management solution for this.

3. Management of Data Maintenance–Solve the Problem of Data Maintenance

Decentralized cloud storage systems face the need for data maintenance and management. User’s data is stored on the selected Provider in the form of object storage, and the corresponding Keeper will challenge to ensure that the Provider saves the data completely and correctly. However, this mechanism lacks credibility. All Keepers facing the same User may act dishonestly and provide false challenge results.

In addition, the user’s metadata information is stored on the corresponding Keeper and synchronized between the Keepers. This can solve the problem of the unbalanced load of metadata information or node failure in centralized cloud storage. However, this method does not completely guarantee the correctness of the metadata information because the Keepers may negotiate and commit evil together. Therefore, based on the decentralization and trustworthiness of the smart contract, important information related to the stored data can be stored in the smart contract, so as to facilitate the maintenance of the correctness of the data.

In order to maintain data security and integrity, various mainstream cryptographic technologies, such as symmetric encryption and decryption, anti-collision hash functions, and digital signature technologies, are applied to meet strict data privacy and integrity requirements. Cryptography technology and data redundancy and repair technology will provide the system with sufficient flexibility to tolerate various possible software and hardware failures and small-scale malicious attacks, such as attempts to invade the equipments of Keeper, Provider and User, thereby tampering, destroying, or disclosing data and information. At the same time, MEMO uses proven POW and more innovative POS technology, supplemented by third-party security tools to further enhance system security.

Management of Smart Contract

One of the key issues in building a large-scale decentralized cloud storage system is the efficient management of system roles and their relationships. As mentioned above, the system has requirements for role management, storage market management, data maintenance and management.Also,these requirements ultimately need to be realized by smart contracts. Therefore, smart contract management is the basis for the realization of the above three types of management requirements. Contract management runs through the entire operating system.

How to Call the Smart Contract?

After the smart contract is deployed, the user needs to use the contract instance to call the methods in the contract. The contract instance can be constructed by the contract address. For some contract functions that need to change the on-chain state information, a specific user identity is required to call; and for those contract functions that obtain the on-chain state information, any user identity can call. Therefore, the system has management issues such as storage and acquisition of contract addresses.

In the MEMO system, the account is first registered as a certain role, such as User. During this process, the address and User role of the account will be saved in the role module on smart contract. When the account is online, the role smart contract will be called. Get your own role, and get the corresponding service according to it. The account determines the role that it wants to play in the system based on its own storage requirements, conditions, etc. After the user goes online, the role information of the account is obtained from the role module.

Different roles have different functions, and role information also needs to be saved. The traditional method is to save the user’s role, address and other information in the database, which is managed by the specific company that owns it. In the decentralized scenario in MEMO system, according to the characteristics of the account address that uniquely identifies users, smart contracts are used to manage system role information. In the initial stage of use, the Keeper of each User is randomly matched by the system. After the Keeper has accumulated certain data about the availability and reliability of the Provider, a scoring system can be built to match the Provider and the User, which can greatly reduce the transaction time.

Demand analysis is a prerequisite for design and implementation. Based on the above management needs, MEMO has designed multiple modules to solve the problems of role division, storage service implementation data maintenance, and contract invocation. It is these that constitute the solidity of the open-source decentralized cloud storage system of MEMO.

MEMO’s test network is currently underway, so feel free to join.

MEMO community volunteer recruitment program will be launched soon, welcome to join us and work together with the MEMO team to make human data eternal!

For more details, please visit:

Official Website: http://memolabs.org

Social links

Twitter: https://twitter.com/memolabsio

Telegram: https://t.me/memolabsio

Facebook: https://facebook.com/memolabs.org

Medium: https://memolabs.medium.com

Reddit: https://www.reddit.com/r/Memolabs

Github: https://github.com/memoio/

Discord: https://discord.gg/aVBrrwMbrw

Media contact

Company Name: Memolabs Limited

Contact: Mina

Address: Sea Meadow House Blackburne Highway P. O. Box 116 Road Town, Tortola

British Virgin Islands

Email: congrong@memolabs.io

Website: http://www.memolabs.org/