Technical features of the project
Ethereum Classic Vision aims to resolve the major problems facing the Ethereum, including scaling, inefficiency, mining and high data storage costs. The transition to the Proof-of-Stake, described in Chapter 1, is the key element of this plan, but a number of modules and additional features will also play an important role. This section introduces the solution proposed by the Ethereum Classic Vision, benefits, and the plan of implementation.
Vision DEX-exchange of decentralization
Ethereum Classic Vision follows the principles of decentralization and true independence promoted by the Ethereum Classic and lost in the Ethereum as we know it today. Therefore, one of the founders of the team’s priority is to give the user the Ethereum Classic Vision of ways to conduct market operations without relying on a centralized Exchange. Integrating decentralized P2P exchange of cryptocurrency-named VisionDEX-will ensure that the holder of the Ethereum’s classic Vision will retain full control over their assets and will not lose them to hackers as it happens in the Exchange, such as the Coincheck ($500 million stolen), Coinrail ($40 million) and even that should be didesentralisasi (and actually a hybrid)
Bancor ($23 million). P2P exchanges like VisionDEX also protects users from closure by the authorities (as has happened on many exchanges centered in China and Korea), bankruptcy, and the Act of evil or incompetent from organizers.
At VisonDEX, all the main functions-the exchange of assets, matching orders, and handling order book-will be done using smart contracts. In particular, smart contracts will serve as an escrow multisig who cannot be trusted, holding the currency sent by the buyer to a suitable amount in another currency received from the seller.
The Exchange will be built based on the principle of the neutrality of currency: will allow users to save not only time, but also also ETCV token ETH, ETC, ERC20, BTC, BCH, XLM, and more. All digital assets created using dApp Ethereum Classic Vision platform (see blow) may also be listed on an Exchange and available to the purchaser even before the launch of the project. This means that VisionDEX can be used as a fundraising platform for startup blockchain and to do the initial token deals. Anonymous trading will be available. Because VisionDEX will be hosted by some of the nodes in the entire network Ethereum Classic Vision, his downtime can be estimated to be close to zero. liquidity will be provided by a combination of private and public reserve.
The absence of third-party autentikator will allow to keep transaction costs on VisionDEX at very low levels. However, it will also mean that the underlying smart contracts will need to be audited carefully prior to launch to exclude risk redundancy, overflow, underflow, and other vulnerabilities. The audit will be conducted by one of the leading specialty companies and scheduled for April-May 2019.
The second implementation stage, we plan to introduce a series of tools market that currently do not exist in most of the existing decentralized exchanges, including trade margin, a stop-loss limit, limit orders, and trading derivatives, such as cryptocurrency futures. Time latency will be deployed to provide high frequency trading opportunities. This second phase is planned for Q2 2020.
Platform for the development of a decentralized application
While most of the newly developed within the framework of dApps Ethereum, it’s far from the most efficient solution because of the problem that is described in part 1. A growing number of dApps (largely failed to achieve the adoption and remain in the system as the dead weight) creates a bottleneck, and the entire system is subject to unexpected changes imposed by the centralized leadership of the Ethereum.
Sharding
Scaling is probably the most pressing challenges faced by blockchain. With all their advantages-decentralization, ketidakberubahan notes, low cost, etc. -the inability of the network as a whole will threaten the development of the Ethereum their future. Indeed, while Visa processing 24 thousand transactions per second, Ethereum is currently only able to process 25. It creates deposits long transactions awaiting confirmation and can sometimes stop the entire system, as was the case in December 2017 at the Summit Cryptokitties craze. The problem of scaling is not an unexpected development-this is a logical consequence of the structure of the network.
The integration of data storage IPFS
For all platforms dApps and blockchain that must store large volumes of data, file storage challenges became as important as the challenge of scaling. Indeed, the project in the fields as diverse as medical care, insurance coverage, coding, design, social networking and relies heavily on the files created by the user-code repository, witch, videos, technical manuals, etc. However, the blockchain themselves cannot be used to store these items-they are not designed for that purpose. Blockchain cheap standard transactions because the amount of data sent is limited to a few bytes. Any attempt to store a file on blockchain will drive the cost of a transaction outside the reasonable boundaries — for example, that would have cost thousands of dollars for 1 GB of data.
Implementation of the project
This section describes the main steps in the process of implementation of the Ethereum Classic Vision and modules-modulnya, ranging from network snapshot Ethereum. Details of the road map is provided, a second development stage and register promotional campaign.
Footage and distribution network of the ETH
Initial distribution of coins Ethereum Classic Vision of free will do after a snapshot of the network of the ETH, which is scheduled for January 11, 2019 (20:00 GMT). Take a snapshot of the network is a standard practice for the hard cryptocurrency fork and generates a list of all blockchain addresses containing certain tokens or coins.
Hard fork Ethereum — Ethereum Classic Vision — 11.01.19
Whitepaper: https://ethereumcv.io/whitepaper.pdf
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Created by : Nopain Noblood
