Genesis and the Republic of Ghana are steadily progressing with the launch of cryptocurrency exchange, where GC(USD), the stable cryptocurrency in Genesis Public Blockchain, will accept settlement functions in Ghana.

GC(USD) will be used for trade settlement of commodities such as mineral resources (iron ore, copper, gold), natural gas and agricultural products in Africa, and the implementation of GC will gradually come down to many countries in West Africa, becoming the African version of digital dollar and crypto gold.

Due to the wide distribution of commodities in West Africa, GC(USD), with the new emerging technology of "blockchain + cryptocurrency", will be used for more commodities trades in the future. This will further rewrite the history of West African transactions and contribute to the globalization of Genesis!

https://medium.com/@Genesis_Chain/crypto-exchange-coming-to-accra-ghana-powered-by-genesis-ffc24e1f08a1

A national crypto exchange project in the Republic of Ghana, West Africa, powered by Genesis, has officially landed. The crypto exchange will set up an offline business hall in the capital city of Accra, located in the heart of the bustling downtown area next to the hotel where former US President Barack Obama stayed.

As the capital and the largest seaport city in Ghana, Accra is the political, economic and cultural center of the country, and an important market for gold, diamonds, cocoa beans and diamonds worldwide.

As early as last year Ghana's Vice President Dr. Mahamudu Bawumia outlined his arguments on crypto at the 5th Ghana International Trade and Finance Conference. He advocated that African governments need to adopt crypto currencies to facilitate trade across the continent and that there is an urgent need for a "single central payment" system for trade among African nations.

The stable value system of GC (USD), a stable asset in Genesis, is well suited to the mission of a "single central payment" system. As an important medium for trading cryptos in Ghana, GC (USD) will become an unified crypto payment for West African countries in the future to rectify the costly and time-consuming process of moving goods across African borders.

Currently, blockchain technology is gaining attention and popularity around the world. Although the development of blockchain industry varies from country to country due to differences in economic conditions and policy orientation, the application of blockchain continues to land in various countries, which involve fields such as on-chain malls, supply chains, archival traceability, payment remittance, etc.

With the rise of crypto, crypto economy governance has become the new focus of global economic governance. As the third largest economy in the world, Japan's government and its society show great interest and strong “positivity" to the development of blockchain and crypto currency.

Under this favorable policy, the agent of Genesis public blockchain in Japan has been in close contact with Japan International Economic Development Association and Japan Ronside K.K., aiming to promote Genesis to empower in multiple directions such as financial and physical business in Japan.

In addition, due to the breakthrough of the global real economy driven by the Internet consumption, the consumer segment has been attracting attention globally again. But there are still various drawbacks in the development of this consumption mode, such as imperfect infrastructure, weak service capability, low value-added production and lagging regulatory standards, etc., which have become the constraint of development.

Blockchain has the characteristics of decentralization and non-tampering, which can guarantee the authenticity of every transaction on chain, and at the same time accurately carry out tracking and traceability, greatly avoiding the above-mentioned contradictions and effectively establishing trust between networks through the token system. The most widely used field of blockchain technology in the future will be the real consumer economy.

In Genesis protocol, the Delegated Proof of Consumption (DPoC) mechanism is a good way to encompass the value of consumption, and it uses contribution as the base of computing assessment to compete for bookkeeping rights and obtain block rewards.

In the public blockchain ecosystems built around Genesis, the eco-participants obtain computing power through the amount of consumption contribution and compete for bookkeeping rights to obtain block rewards, which is widely used in retail, online mall, cross-border e-commerce, payment, etc. Genesis integrates them to reshape the pattern of Internet economy.

These fields are also the development path that Genesis public blockchain is actively exploring, and how to use Genesis to collaborate with the development of real economy will be the main in-depth direction of Genesis in Japan.

Recently, the agency of Genesis in Japan has been in close contact with Japan International Economic Development Association and Japan Ronside K.K., aiming to promote Genesis public blockchain to empower Japanese finance and real business in multiple directions.
 
It involves industries such as food, industrial goods, home goods, gaming, real estate, international investment transactions, etc. How to commercially implement the use of Genesis to collaborate with the development of the real economy is the main direction in which Genesis is delving in Japan. 

Currently, the Japan International Economic Development Association and the Japan Ronside K.K. have shown great interest in Genesis and will further understand it in depth.

Genesis Foundation is rich in resources. As a technology team, it has leading P2P network developers, consensus algorithm inventors, blockchain innovators and consensus mechanism developers.

Genesis Foundation aims to manage and leverage resources through innovative blockchain technology, including the formation of a research and development team for decentralized network infrastructure and the external formation of ecosystem modules.

Genesis Foundation has been committed to contributing blockchain architecture to decentralized networks, helping Genesis public blockchain system grow to adapt to the pace of technological change and changing market needs by providing cutting-edge solutions for security, scalability, governance, upgrading and interoperability.

At the same time, Genesis Foundation also has strong ties with other research institutions around the world, including The U.S. Ivy League University Labs, The Silicon Valley Developer Geek Alliance, etc., and builds a bridge between them on Genesis public blockchain system.

Other development teams can take advantage of the finalization, security, and interoperability offered by the Genesis public blockchain to build and improve the blockchain, helping the teams that want to develop projects to create applications that were previously impossible to achieve.

The Genesis Foundation's vision is to create a more transparent, efficient, secure, and monopoly-weakening network environment, which is also the development result of of people's demand for power over personal information. As the core technology of Genesis Foundation, the rapid development of third-generation public blockchain also means that the realization of the vision is getting closer and closer.

Genesis Foundation and Genesis Public Blockchain share a common goal. It is because the Genesis Public Blockchain iterates on the capabilities of blockchain technology that the Genesis Foundation will work with the Genesis Public Blockchain to build the Blockchain Business 3.0 era.

Bitcoin is the first common public blockchain in the world. The difference between public and private is whether the nodes on the blockchain are controllable.

Public blockchain refers to a blockchain in which anyone in the world can enter at any time to read data, send confirmatory transactions and compete for bookkeeping. Public blockchains are often considered "completely decentralized" because no individual or institution can control or tamper with the data.

Role of Public Blockchain
The public blockchain can protect the rights and interests of users from the influence of program developers. In the public blockchain, the developer of the program has no right to interfere with users, so the public blockchain can protect the rights and interests of users using the program. The characteristics of openness and transparency of transaction data and data will not be tampered with enable the public blockchain to effectively ensure the data security of users.

Public blockchain can produce network effect. There is an inherent need for interconnection in an information product, because the purpose of people producing and using them is to better collect and exchange information. As the network grows in size, users are able to derive more value from it, needs are better met, and the open nature of public blockchains gives them the opportunity to be used by many external users and generate a degree of network effect.

Public blockchains can be applied on the ground to real business scenarios. Apart from financial applications, any application scenario with high trust, security and persistence requirements, such as asset registration, voting, management and IoT, among other 3.0 era applications, will be affected by public blockchains on a large scale.

Genesis Public Blockchain
After the development of bitcoin and Ethereum, the public blockchain has transitioned to the 3.0 era. Genesis is a typical representative of the 3.0 stage of the public blockchain and the world's first public blockchain integrating business and finance.

Genesis's original DPoC mechanism greatly guarantees the fairness of the public blockchain network. The consensus mechanism and economic incentive of mining is based on the contributions made by users through their participation in smart contracts on the chain, and the amount of consumption contributions is converted into computing power to compete for bookkeeping rights and thus obtain block rewards. In this way, every participant in the public blockchain ecosystem can receive a block reward from Genesis.

In addition, Genesis public blockchain has a more inclusive idea. It integrates all known blockchains, including Bitcoin, Ethereum, EOS, Trons, etc. No matter which kind of application scenario in the future, it can be integrated in Genesis ecosystem!

Last year, Ghana Government had learned about Genesis public blockchain through various ways and wanted to introduce Genesis into the country. On February 14, 2022, the African Agency of Genesis  and the Government of the Republic of Ghana finally signed a close cooperation agreement formally after several communications.

Hon Alhaji Sulemana Yirimea, the signing official on behalf of the Government of the Republic of Ghana, is the President of the Council of State, the member of the royal family of the Bawku region, the member of the 8th State Council, and the core member of the NPP party.

The signing with the government of the Republic of Ghana also represents another process of Genesis' globalization. As for the next step, Genesis Foundation will carry out business such as the landing of Genesis' commercial applications, investment and financing, and obtain local crypto trading qualification.

Blockchain is seen as a "trust machine", and blockchain technology has overturned the past model of establishing credit between people.
Credit is the foundation of trust.
Trust is the result of subjective judgment on the trustworthiness of a person or a thing, and the basis of judgment is the objective credit situation in the past. Simply put, when A has strong credit (trustworthiness), B can easily have trust in A.
Credit is important in the market economy. As the division of labor deepens and the market expands, credit appears in lending activities and all other market economy activities. Credit is the basic premise that sustains the exchange of goods and is the basis for a well and efficiently functioning market economy. Therefore, the modern market economy is fundamentally considered to be a credit economy.

In the past, credit was the result of behavioral strategies.
In an economic sense, credit generally means that some groups place themselves at risk due to the uncertain behavior of other groups.
Thus, when there are different options, credit is seen as a behavioral strategy, i.e. the result of a choice that results from comparing the pros and cons.

The computability of credit behavior
Although new institutions have been developed throughout history to regulate people's trustworthy behavior, they have not been able to eliminate the occurrence of credit violations. In the past, many scholars held the view that "credit is calculable" as a basis for studying the tendency of people in society to choose between trustworthiness and breach of trust, but even under the verification of the ideal calculation formula, it is difficult to ensure that the result of choosing credit is indestructible, and it will also be influenced by the "bounded rationality".

Bounded Rationality Theory
The concept of bounded rationality was originally proposed by Herbert A. Simon. Human behavior "is consciously rational, but this rationality is limited".
In the form of impersonal exchange, people are faced with a complex, uncertain world, and the more transactions, the greater the uncertainty, the more incomplete information; moreover, the human computational and cognitive ability of the environment is limited, people cannot be omniscient.
This also means that the credit behavior between people cannot be measured or speculated simply by a certain formula, and it can be broken by "irrational" decisions.

From trusting system to trusting code    
As we can see, systems and human rational decisions are not completely reliable. So, is there other way to ensure credit outcomes?
Blockchain makes all solvable. It allows trust to be agreed upon by mathematical algorithms that also operate autonomously without being manipulated by human consciousness and centralized institutions.
The foundation of trust created by blockchain stems from multiple aspects of credit assurance：
1. Confirmation of rights and the authenticity of the source of information
Since every transaction is authentically recorded and publicly available and traceable, blockchain technology guarantees that everyone has the right to belong to and control their own assets.
2、True and trustworthy records
Blockchain adopts a tamper-evident database technology, which makes the recorded actions irreversible. This also means that all the recorded states of the longest chain are real and untampered with. Even if the receiving parties do not know each other and have no trust basis, they can realize "trust without trust".
3、Information synchronization and high fault tolerance
Due to the P2P network and distributed transmission method adopted by blockchain, it means that it is free from the control of the center, and even if the local nodes are attacked or tampered with, it will not change the final result of data and the smooth operation of the whole system.
4. Automatic execution of results
On a calculator system, a contract can be automatically executed when certain conditions are met. According to the programmable scripting language of blockchain, the automatic execution when the conditions are met makes the execution action definite, eliminating unnecessary costs for both parties to the contract in the process of gaming.
Overall, blockchain technology is a distributed network platform that breaks the traditional centralized feature, it is more like a public ledger that can be recorded, viewed and maintained by everyone, any record is permanently time-stamped and cannot be tampered with, so that the trust mechanism is rebuilt. The blockchain-based technology mechanism ensures the honest behavior of each participant and allows trust to be well maintained in the blockchain.

The outstanding representative of blockchain 3.0 - Genesis builds a brand new credit system
Genesis, as an outstanding representative of blockchain 3.0 era, inherits the reliable characteristics of blockchain and builds DPoC (Delegated Proof of Consumption) consensus mechanism to create a truly equal and trustworthy environment for everyone.
Genesis incorporates Blockchain 1.0 portfolio applications, including distributed ledgers, cross-chain data, Merkle trees, and proof of work, while emphasizing smart contracts, virtual machines, and decentralized applications in Blockchain 2.0; further more, it innovates multi-chain systems, consensus algorithms, privacy protection, physical world mapping and more.
Genesis is compatible with multi-participation, while the innovative DPoC essentially determines the processing performance of the whole system; physical time mapping, which outlines of the relationship between the on-chain world and the off-chain world.  
Meanwhile, Genesis network supports fast and agile dApp design and programmable scripting language, which will enable more dApps and smart contracts to be implemented on the ground and make the trusted blockchain technology serve people's daily life in all aspects.

Recently Web 3.0 has been considered as the future trend and has become a widely discussed topic in the technology industry, with rising attention. The crypto industry also has high values for Web 3.0, expecting to build a new world of Decentralized, Code is Law, Permit-free, and Independent Autonomy through encryption technologies.

In fact, since the second half of 2020, the Web 3.0 ecosystem has undergone a radical change, with DeFi becoming the biggest hotspot, with new applications popping up all over the world, covering various tracks such as lending, DEX, DeFi derivatives, stable coins, etc. NFT and GameFi have also become hotspots in the industry, giving rise to a large number of applications again.

However, the booming application ecosystem has more strict demand on the underlying infrastructure of Web 3.0, since Ethereum network has been congested several times, causing soaring gas fees. Although new public blockchains are emerging, they have also caused bad information exchange between different ecosystems, and the silo effect has become a major problem hindering the development of blockchain. For crypto developers, they face greater technical challenges as well as cost difficulties in order to carry out blockchain development on different chains.

Currently the underlying public blockchains have good performance in market, the next step is to achieve interoperability. As Web 3.0 continues to evolve, it is possible to envision a future where a large amount of resources are focused on easy integration with other projects, not limited by the underlying infrastructure, which is exactly the direction Genesis has been working hard to cultivate.

As encryption technologies move into mainstream, requests for blockchain data processing will grow exponentially. Genesis will provide decentralized infrastructure support for each blockchain projects and will drive a huge change in the Web 3.0 ecosystem.

So what exactly is Genesis?
In brief, Genesis is a distributed infrastructure built for Web 3.0 that supports seamless and secure interactions between blockchains and between applications. Genesis aims to build a complete distributed network of blockchain nodes where developers can simply integrate blockchain technology into websites, mobile apps, IoT, and reach mainstream consumers without trusted protocols.

In the long run, Genesis, as a new decentralized network protocol, will gradually replace the traditional centralized service providers. In the old model, the middleman captured value from the user; in the new model, the users (we developer/app) capture value from the protocol.

In addition, Genesis is also highly composable and can be complementary to other protocols. Cross-chain interaction is also part of the core vision of Genesis, which consists of a collection of multiple blockchains heterogeneously composed, through a network that allows communication and data transfer between different blockchains.

Genesis is underpinned by the most efficient Rust language, and currently there are no more than 200 senior Rust engineers worldwide, which means the high efficiency and stability of Genesis; Genesis network produces one block every 6 seconds, TPS = 5000; in addition, smart contracts of Ethereum, Polkadot, BSC, and Heco are compatible and implementable on Genesis; meanwhile Genesis has the most advanced cross-chain technology, all public blockchains can be intergrated to Genesis chainnet for circulation and trading; Genesis comes with Dex, which can trade any cryptos and smart contracts; it adopts the original heterogeneous composite chain technology to construct a huge public blockchain cluster, which can expand the performance and function infinitely, and the sub-chains and side chains do not occupy the public blockchain performance.

Genesis is the integration of all the known blockchains, including Bitcoin, Ethereum, EOS, Polkadot, etc., all into its ecosystem. It always carries the idea of inclusion. In the future, we can imagine that application scenarios of Genesis will be highly integrated and highly innovative!

DeFi, NFT to GameFi, blockchain technologies have landed and various models have started to emerge. Following the explosion of GameFi and NFT, the concept of SocialFi is also becoming appealing. The shift from Web 2.0 to Web 3.0 will also bring a new trend, which might be SocialFi.

What is SocialFi? SocialFi, referring to two aspects, i.e. Social+Fiance, and the scenario of its combination is all on the blockchain. SocialFi has the characteristics of decentralization, openness and user self-control.

In the era of Web 2.0 major social operators control the data of users and they use them to keep profiting while the users can do nothing about it. Data leakage, inappropriate algorithmic recommendations and many terms and conditions that go against the user's wishes make users suffer. SocialFi solves these problems of traditional social networking in a targeted way.

SocialFi helps users solve their problems in three ways.

Data rights ownership.

In traditional social networking platforms, all social data of users are stored in the form of fields on the server of operators, and the data belongs to the platform; SocialFi's immutability is helpful to solve the problem of user data rights.

Benefit distribution.

Under the algorithm mechanism of traditional social platforms, there is an unbalanced distribution of benefits between users and platforms in traffic realization, which is not conducive to protecting users' rights and interests; SocialFi, on the other hand, solves the problem by users gaining revenue from their own social, with no third-party platform.

Privacy and security.

All users' accounts in traditional social are authenticated by KYC process, and the real information of users is stored in the backend of operators, which is easy to cause information leakage, while SocialFi is based on blockchain technology to anonymize users' identity, which can protect users' privacy and security.

How to SocialFi in Web 3.0 is the next to think about.

People expect a new social way to adapt to metaverse, but the virtual scenario of metaiverse to achieve at present is very difficult, in conditions of less advanced technology and in other aspects. The decentralized world also has an evolutionary path that needs to meet the above conditions so that metaverse can explode and be achieved more easily.

Web 3.0 also allows the network to deepen from a single interconnection to sticky contact and deep interoperability. The requirements for infrastructure are more strict since instant experience requirements are faster. Higher efficiency, faster TPS, and more data processing requirements require stronger infrastructure, and the emergence of Genesis seems to be a clever solution to this problem.

Genesis might be one to truly make SocialFi a reality.

Genesis has not only 300 times TPS than Ether, but also only 1/1000 of the cost of Ethereum. On the basis of that, Genesis also carries the cross-chain interconnectivity like Polkadot, interoperating with all the blockchains, which is truly a "decentralized operating system".

Genesis, as the representative of blockchain 3.0, is committed to realize the comprehensive implementation of metaverse, and Genesis has created the world's first blockchain + metaverse on-chain platform, which allows the organic combination of business and financial ecosystem, and carries the IoT, DAOs and metaverse.

In the future, we could shop, socialize, or whatever we want to do in an efficient, fair, and trustworthy business ecosystem based on Genesis. It could be another new world then!

1.Genesis supply chain system
Supply chain is a complex structure composed of logistics, information flow and capital flow, and connects suppliers, manufacturers, distributors and users in various industries. Based on blockchain technology, Genesis can be used as a large-scale collaboration tool to adapt to supply chain management. In the industrial supply chain, many types of data can be transferred through the blockchain.

2. How does Genesis achieve effective data security?
In the Internet business system, participants’ personal data and payment data are stored in a small number of centralized databases after being uploaded to the Internet. This makes these centralized databases an easy target for malicious attacks and the risk of data leakage is high. Therefore, switching to Genesis ecosystem eliminates the need to store massive amounts of user personal data and payment data, allowing participants to store and control their own data in a decentralized system, thus eliminating the potential risk of data leakage.

3. How does Genesis establish a trusted value system?
Compared to traditional commercial transaction systems, Genesis ecosystem promotes trust by increasing the transparency of transactions. Each transaction is recorded in a shared ledger and cannot be modified by anyone. The shared distributed ledger provides security, transparency, and traceability. Therefore, Genesis ecosystem will effectively drive transparency in all processes of the business ecosystem and establish a trusted value system.

4. How to achieve effective traceability and arbitration when data is on the chain?
All the information data of capital flow, business flow and logistics in Genesis ecosystem should be chained, which can ensure that the original credentials cannot be tampered with and at the same time, guarantee the traceability of each transaction, and also facilitate a clear chain of evidence in case of dispute arbitration.

5. How does Genesis realize innovative business civilization?
In the times of change, various disruptive forces are reshaping the business environment and calling for a new business civilization. Genesis creates a new set of economic operation system, including a new business model, a new organization system and a new distribution system.
New Business Model
- Project initiators, governors, consumers and all other participants establish a community of interest.
New Organization System
- Decentralized Autonomous Organizations (DAOs) are controlled by token holders and are not influenced by central institutions.
New Distribution System
-Stakeholders can participate in the distribution of value, eliminate the disparity between the rich and the poor, and achieve common prosperity.

1. What is Decentralized Commerce (DeCom)?
Genesis is committed to building a decentralized form of business (DeCom) ecology, which is characterized by the combination of common prosperity business, efficiency business and trustworthy business.

2. Common Prosperity Commerce
Creating a common prosperity Commerce is determined by the consensus mechanism of Genesis. Genesis is the first real consumption contribution public blockchain in the world. It uses the original Delegated Proof of Consumption Contribution (DPoC), rather than Proof of Work (PoW) or Proof of Stake (PoS), to build consensus mechanism and offer economic incentives. It converts business profits, not electricity power costs, into token values to reward all business eco-contributors.
Genesis can be regarded as an immense “decentralized commerce platform for common prosperity”, where each business entity can join as a subsidiary of the platform, and the blockchain will act as a selfless boss to reward all business ecosystem contributors by issuing platform shares (tokens), and distributing all profits to these shareholders.
Genesis also creates a symbiotic finance of “business derives from finance and finance feeds back business”, which brings a major financial innovation to the social economy.

3.Efficient Commerce
Creating efficient commerce is determined by the smart contracts of Genesis.
Genesis is compatible with Ethereum virtual machine, which is convenient for developers to create various smart contracts, including DeFi and NFTs. By creating NFTs, real assets could be transfered on chain as digital assets, which will have cross-platform flowability and peer-to-peer transactions attributes, thus forming a mesh business and free from the bondage of centralized platform; while by creating DeFi and using blockchain as a credit intermediary, an efficient, fast and trustworthy NFT transaction platform and smart business can be built. The mesh business shaped by Genesis is much more efficient than the intermediary-based star business, and it avoids the exploitation and oppression of capital and greatly reduces the transaction cost.

4.Trusted Commerce
Creating trusted commerce is determined by the infinite scalability of Genesis. Genesis will build trusted commerce and further reduce transaction costs by introducing blockchain traceability, depository and distributed storage protocols to launch on chain, trace and authenticate the information, business and logistics.

5.What are the application scenarios of Genesis?
Genesis will be given full play in e-commerce industry, NFTs, metaverse empowerment, decentralized finance (DeFi), product traceability, supply chain finance, logistics system, IoT ecology, asset on-chain, electronic data processing (TPS), and consumer entertainment, digital asset trading, etc. Basic functions such as payment, consumption, digital currency, product anti-counterfeiting and commodity verification are optimized.
Genesis Chain
Genesis ,the World’s First Computer for Large-scale Business

1. What is the ecological architecture of Genesis?
The ecological architecture of Genesis is a composite of Genesis business ecosystem and Genesis financial ecosystem.

2. What is Genesis business ecosystem?
Genesis business ecosystem refers to all commercial smart contracts deployed on Genesis , each independent smart contract relies on DPoC (Delegated Proof of Consumption) consensus mechanism to form a large and complete ecosystem, each account participating in different smart contracts and making contributions can get computing power and directly or indirectly participate in the competition. Each account participating in different smart contracts and making contributions can get computing power and compete directly or indirectly for the right to bookkeeping and thus get block rewards.

3. What is Genesis financial ecosystem?
Genesis financial ecosystem refers to all financial ecosystem smart contracts deployed on the Genesis or capable of linking to Genesis commercial smart contracts.

4. What is the architecture of the Genesis business ecosystem?
In the Genesis business ecosystem, the overall architecture is divided into three parts: client, Genesis middleware, and Genesis public blockchain storage.
Client: various DApps of business ecosystem, browser plug-in or desktop application for PC, and smart contract SDK, smart contract is the client that provides writing smart contract, divided into standard smart contract template and custom smart contract template.
Genesis Middle Platform: Based on Genesis public chain, it empowers the whole business ecology, each module is low coupling and high cohesion, "building blocks" according to different business needs, and can be used immediately with good configuration and can be hot-plugged.
Genesis public chain storage system: decentralized distributed storage and smart contract system realized by blockchain technology, which stores information flow, asset flow, asset data, etc. during the execution of commercial smart contracts, and formulates contract mechanism to make data safe and irreversible.

5. What is the financial ecosystem architecture of Genesis?
The financial ecology carried by Genesis consists of four sections with different functions, which operate around the business ecology and form a deep integration with the business ecology.
①The "Ministry of Finance" collects the consumption tax (GC) and allocates the computing tokens (GP) to the contributors, then uses the collected consumption tax (GC) to equity tokens (GS) from the exchange, thus promoting the value of equity token (GS), and pledges the purchased equity tokens (GS) to the bank, thus lending new payment tokens ( The purchased GS is pledged to the bank, which borrows new purchase tokens (GCs) and repeatedly purchases GS, and then redeems the GS with a new consumption tax (GC).
② The "Exchange" is responsible for the trading of digital assets, in particular, the trading of equity tokens (GS) and payment tokens (GC).
③ "Bank" is the output department of payment tokens (GCs) and is responsible for the output of payment tokens (GCs) through pledging of equity tokens (GS) by participants across the network.
④ The "SEC" is responsible for collecting tax certificates (GP) and issuing equity tokens (GS) in accordance with block rewards.

Genesis officially joins Metriks Data Center as a member. Metriks Data Center is a nonprofit organization, with the goal of involving more scholars and scientists in the scientific acquisition of data, and bringing the skills and roles of its members to the service of society.

Genesis, as one of the representatives of the Web 3.0 era, has an excellent performance in data. The users on Genesis are both creators and beneficiaries of their data. At the same time, Genesis creates the world’s first commercial-metaverse blockchain platform, which is compatible with Bitcoin, EVM and cross-chain technology of Polkadot , and even surpasses the formers in performance.

1、What is the technical architecture of Genesis？
Genesis technology architecture is mainly divided into application layer, contract layer, incentive layer, consensus layer, network layer, data layer and encryption layer.

2、What is the role of each technical architecture of Genesis？
① Application layer: supporting various business applications of Genesis and meeting the needs of the entire ecosystem of Genesis pan-business ecosystem.
② Contract layer: determining the mechanism and rules for the operation of the public blockchain through virtual machines, application engines, smart contracts, etc.
③Incentive layer: satisfying the participants of Genesis to obtain corresponding rewards such as computing power rewards, voting and community incentives in the process of participating in the construction of the public blockchain.
④ Consensus layer: transactions as well as contributions based on the Genesis pan-business ecosystem are fed back as arithmetic, using the PoC consensus algorithm.
⑤ Network layer: a P2P network linking various sections of the Genesis pan-business ecosystem and ensuring the security of the network and its sub-networks.
⑥ Data layer: mainly used to store block data, including transaction data, block height, previous block hash value, current block hash value and timestamp;
⑦ Crypto layer: allowing the public blockchain to achieve data security immutability and irreversibility, using encryption and signature techniques, including hash functions, Merkle trees, asymmetric cryptography, etc.

3、What are the rules of Genesis？
Each phase is divided into 126 rounds of block out, in which there are 1024 block out nodes, one block out every second, each block out node out 6 blocks in a row. The verifier of block out and verification is selected by the weight factor of account right, and the probability of selection is proportional to its computing power.

4、What are the rules of block out allocation in Genesis？
The block reward is divided into three parts: block out reward, agent reward (p%), and foundation reward.
(1) Block reward is allocated to all pledges of the block node and this node, and the block reward is allocated according to the weight of the pledge arithmetic; (2) Agent reward is the part of the block reward obtained by the pledge to the verifier; (3) Agent reward is the block reward obtained by the pledge * p%; Foundation reward is the q% of the reward obtained by the account right node and all the pledges attached to the node.

Genesis is pressing ahead with the global market, and the Americas market is one of the most important territories for Genesis. Recently, Genesis is gradually pushing forward the signing activities related to the Americas market, and the signing of the Americas agent will be an important step in Genesis’ milestone.

Genesis aims to build a powerful decentralized infrastructure for business and finance, meanwhile creating a global open financial ecology for the real economy!

1. What is the core value of Genesis?
Genesi is the culmination of blockchain development into the 3.0 era, building a decentralized, ownership-free and ubiquitous operating system on the cloud to create and execute smart contracts to host the rapidly growing global digital economy. In layman's terms, the Genesis is a world computer that cannot be shut down and runs forever.

Compared with ETH, the masterpiece of Blockchain 2.0, Genesis has higher scalability, faster transaction processing speed, more secure all-node operation mechanism, stronger security protection guarantee, more reasonable transaction fees and more reliable source of token value. These innovative and excellent technical indicators will enable Genesis to truly practice efficient operation in decentralized applications (dApp), decentralized finance (DeFi), non-fungible-token (NFT), distributed storage, supply chain finance, depository, etc.

2. What is the reward mechanism of Genesis?
In the public blockchain ecosystem built around the Genesis, ecological participants obtain hashrate by consuming contribution volume and compete for account rights to obtain block rewards
①Contribution return hashrate (take on-chain e-commerce as an example)
After the customer consumes, the merchant contributes a certain percentage of the payment amount as "hashrate tax" to the smart contract to add a liquidity pool, and the public chain feeds back the corresponding hashrate to the customer and the merchant according to the dynamic function ratio with the received hashrate tax as the parameter.

②Hashrate mining payment credentials
Merchants and customers who hold hashrate compete for account rights with the full node, and are thus rewarded with blocks from the Genesis.

③Payment credentials for revenue
As the ecological volume grows, the value of payment credentials GS will increase, and GS holders will enjoy the value-added revenue.
In the Genesis ecosystem, all those who participate in the ecological construction and contribute to the hashrate tax can enjoy the value-added dividends of the Genesis ecosystem.

Organizational structure of Genesis
①Genesis Foundation
Genesis Foundation in this proposal refers to the organization dedicated to serving Genesis public chain participants, helping to build a prosperous and peaceful Genesis community, and continuously practicing the development plan of Genesis to promote the flourishing of Genesis ecosystem.

②Protocol Laboratory
The Protocol Laboratory is a distributed team that belongs to an open source organization. The open source community does not rely on one or some people, but rather gathers a large number of contributors to share their extraordinary knowledge and great skills to Genesis to help make the project better and make breakthroughs. Their main work is product iteration, version maintenance, Genesis project incubation, etc.

③ Arbitration Committee
The arbitration committee is voluntarily initiated by the Genesis consensus community with the help of Genesis Foundation, and is mainly responsible for dealing with the resolution of disputes that cannot be negotiated between the two parties in the transaction, in order to protect the legitimate interests of each subject in Genesis.

④Node Membership
Genesis is a network composed of peer-to-peer nodes, and node members are the participants who proactively build Genesis ecology. In order to meet the high scalability, high transaction speed and high security, Genesis adopts the mechanism of "all nodes + commercial network nodes" to compete for account rights and obtain block rewards.

4. What are the first and middle-term goals of Genesis?
Upfront Objective
Build Genesis with higher scalability, faster transaction speed, and more stable node operation mechanism.
a) To complete the test network operation of Genesis and accelerate the main online launch.
b) To have the first batch of public chain ecological participants and recruit global nodes.
c) To complete the development and application of cloud wallet, decentralized exchange, decentralized payment system and other ecological sections.

②Medium-Term Objectives
Create a series of GRC (Genesis Request for Comment) development standards based on  Genesis, so that developers can follow these common interface standards to build smart contracts.
a) To develop a standardized smart contract based on "consumption contribution as investment" as a reference example for globalization of Genesis.
b) To optimize the operation process of smart contracts, and continuously add decentralized sections to build a perfect business ecology.
5. Future vision of Genesis
Gradually expand the ecological boundary of the pan-business ecosystem of Genesis.
Creating the digital economy ecosystem of Genesis pan-business ecosystem.
To effectively realize the global circulation and market-oriented distribution of digital assets through cross-chain technology.
The industrial ecology based on Genesis gradually covers financial fields such as blockchain e-commerce, digital asset payment, supply chain finance, payment voucher financial business, to real industrial fields such as commodity traceability, Internet of Things, Industrial 3.0, to global development in various social fields such as e-government and public welfare charity. It provides global solutions for activating global business vitality, breaking the monopoly of capital, reducing the gap between rich and poor, and building a fair social environment.

What is Genesis

Genesis as the World’s First Public Blockchain for Decentralized Commerce (DeCom),a public blockchain aiming for decentralized shared economy, is devoted to building a trusted Internet of Value, realizing the confirmation of the right of production means, optimizing or even disintegrating the monopoly economy and finally transforming human economic society from capitalist commercial civilization to socialist commercial civilization.
Looking at the global economy, capital is monopolized by financial oligarchs and data monopolized by internet oligarchs. The high degree of monopoly of production means has led to a disparity in the distribution of economic profits.
Genesis = Decentralized Commerce (DeCom)= Common-prosperity Commerce + Efficient Commerce + Trusted Commerce
Decentralized Commerce (DeCom), a much greater application of blockchain after decentralized finance (DeFi), is going to kick off the prelude to the next grand transformation of production relations.

What can Genesis do

Genesis is the world’s first genuine consume-to-mine public blockchain. Genesis invents and uses Proof of Consumption (PoC), rather than Proof of Work (PoW) or Proof of Stake (PoS), to construct consensus mechanism and economic incentive, whereby Genesis continually converts commercial profits, rather than electricity power, to token value and thus rewards every contributor within Genesis ecosystem.

An analogy may make the point clearer. Think of Genesis as a tremendous decentralized common-prosperity commerce platform that is joined freely by numerous commercial entities as subsidiaries of the platform. In this platform, Genesis acts as an unselfish boss and ceaselessly issues additional platform shares (i.e., tokens) from scratch to reward contributors within Genesis ecosystem and distributes all profits to these shareholders.

It is in this sense that Genesis disagrees with the traditional parasitic finance paradigm that finance incubates and exploits commerce, and as instead, creates a symbiotic finance paradigm that finance should be derived from commerce and back-feed commerce.

Genesis supports and is compatible with Ethereum Virtual Machine, which provides a great convenience for developers in creating various smart contracts involving DeFi and NFT (non-fungible tokens).
By minting NFTs conforming to ready-made standards in Genesis, assets from the physical world can be converted to on-chain digital ones that are enriched with additional superior attributes such as cross-platform circulation and peer-to-peer transaction, thereby forming a decentralized and reticular commerce that are emancipated from centralized platforms. Through various DeFi created and running on this blockchain, Genesis is going to function as a trusted intermediary for high-efficiency and high-frequency NFT trading and lays a foundation for the next generation of smart commerce.

The reticular commerce shaped by Genesis builds up a more efficient connection than the stellate commerce does with its connection intermediary being the e-commerce platform; furthermore, the reticular commerce avoids the exploitation and squeeze from the e-commerce platform, therefore reducing transaction costs in a great degree.

Genesis Background

Genesis is co-sponsored by world-renowned university laboratories and foundations. Team members come from world-renowned universities or organizations, including Stanford University, University of Pennsylvania, Yahoo, New York University, Microsoft, PCCW, Silicon Valley, Wall Street, etc. Distinguished professors, senior consultants, Communication experts and other professionals, and at the same time, multiple branches in New York, London, Paris, Tokyo, Hong Kong and other countries and regions are committed to the joint research and development of the Genesis public chain. Genesis has also become a number of universities due to its unique advantages. One of the most worthy research projects at the forefront of the blockchain.

So far, Genesis.X Labs (GS public chain laboratory) has obtained The Yale Endowment, Sutardja Center for Entrepreneurship & Technology, Makena Capital, Harvard Management Company, Princeton University Investment, Baas Blockchain Lab, Initialized Capital, IDG capital, Hutt Capital, Kapor Capital , John Street Capita and other strategic support.

As one of the strategic partners of Genesis.X Labs, Yale University will establish a blockchain laboratory in New Haven, Connecticut, USA. At that time, Genesis will be invited to become one of the laboratory initiators on behalf of the new technology field, and will cooperate with Yale University and Multiple blockchain laboratories jointly research and develop the frontier trends of the future development of the blockchain industry.
Genesis combines the advantages of public chain, DeFi and NFT meta-universe track to lead the blockchain industry to achieve more changes and innovations. Since its establishment, Genesis.X Labs has mastered thousands of technology patents. At the same time, its GDEX, decentralized wallet, Genesis Protocol and Metaverse encryption network under development are also steadily advancing.
Genesis Application

1.The commercial application value of GS Blockchain
GS Blockchain will give full play to the e-commerce industry, product traceability, supply chain finance, logistics system, IoT ecology, asset chaining, electronic data processing (TPS), and consumer entertainment. Basic function such as payment, consumption, digital currency, product anti-counterfeiting, and product right confirmation are all optimized.

2.Application of product tracing system
With the help of blockchain technology, the product traceability system can realize trust sharing among brands, distributors, retailers, consumers, regulatory agencies, and third-party testing agencies, and comprehensively improve brand, efficiency, experience, supervision, and the overall benefits of the supply chain.

3.Internet of Things transaction system application
The Internet of Things data transaction platform is one of the cores of public chain applications. On this platform, equipment manufacturers can establish channels for collecting and selling data; device users can provide personal data through this channel to obtain revenue; data buyer, such as Advertisers can also use this platform to accurately locate user, obtaining user’s profile data, and more efficiently achieving the purpose of dissemination at a lower price.

4.Supply chain finance application
The supply chain finance application system is based on the distributed storage function of blockchain technology. It naturally contains the characteristics of tamper-proof, decentralization, openness and visualization. It can effectively solve many pain points in traditional supply chain finance, in addition helping supply chain finance to break the bottleneck and develop innovatively .

Genesis Economic Model

Genesis token system comes with dual tokens: GS and GC.
The GS token is minted by mining in Genesis. It is the value subject as well as the certificate for rights and interests and is circulated in many parts including trading, mining, rewards & punishment, voting, dividend distribution, pledge and etc..

The issuance of GS is subject to the DDS (Dynamic Deflationary Supply) mechanism: the mining output of GS is calculated in real time by multiplying the exponential decay baseline by a floating coefficient yielded by a supply and demand model.

The total number of GS to be issued in the first two years is estimated to be about 200 millions.
The GC token is an algorithmic stable token, issued by decentralization, with its stability maintained by algorithm and no external pledged asset required, and widely used in the Genesis ecosystem including both on-chain and off-chain scenarios of consumption and transaction.

About Genesis

Web: www.genesischain.io
Twitter: https://twitter.com/GS_Blockchain1
Medium: https://medium.com/@GS_Blockchain
Reddit: https://www.reddit.com/user/Genesis_chain
Telegram: https://t.me/GSBlock_Global
Linkedin: https://ww.linkedin.com/in/blockchain-gs-9643a821a/

The early day of the Internet is an open tool that everyone can share. It has been born in the 1950s, and gradually evolved into a smooth network that can be branched, bringing the world unlimited convenience. With the development of technology and capital involvement, the Internet has developed into several unique situations, and the head enterprise has established its own data center to manage the huge, centralized data cluster, and the impact of the network is in a state of imbalance and gets tilt. Today’s Internet is too concentrated, the problem has already influenced our best way to interact with science and technology.

With the concept of Web3.0, human beings hope to have a fairer and looser network structure. The concept of Web3.0 is to use the peer-to-peer network structure, that makes it up of many computers to connect to the actual content, rather than to the location of the information so that each website and data will be hosted at the same time by thousands of devices, there will never be any central server controlling all things, and the content can remain in multiple locations.

The concept of Web3.0 was proposed by the industry in 2016, but the process to carry forward is very slow. Web3.0 is not only a technological innovation conceptually but an integrated technology with a unified communication agreement, via a simpler way to offer the users more personalized Internet information. And the change of network infrastructure is the premise of web3.0, according to that we introduce the concept of the public chain.

The public blockchain means a large network of the world, that anyone else can read from all over the world, and the transaction can be sent and effectively confirmed, and it can also be participated in under the mechanism of consensus. And this network system does not rely on any person or organization. On this basis, the role of the public chain is divided into the following points:

1.The Public Blockchain can Protect Users’ Rights from Program Developers

The program developer of the public chain does not have the right to interfere with users, so the public chain can protect the user rights from the program. In addition, highly decentralized and distributed data storage is also one of the largest features of public chains, it leads that the transaction data is disclosed, and the data cannot be tampered with so that the public blockchain can effectively protect the data security of the users.

2. The Public Blockchain can Generate Network Effects

One information product that has an interconnected need for people, to produce and to utilize is to better collect and communicate. With the expansion of the network, users can get more value, and demand gets to meet. Since the openness of public blockchain, there are more chances to be applied by many external users, generating a certain degree of the network effect.

1.The Public Blockchain can Be Applied in Real Business Scenarios

Except for financial applications, any 3.0 era applications that require high levels of trust, security, and persistence, such as asset registration, voting, management, and the IoT, will be affected by the public blockchain on a large scale.

One of the most famous examples of early public blockchains was Bitcoin, which was a radical innovation that allowed any node in the public blockchain to join or leave the network at any time without any permission. Unlike traditional distributed systems with C/S, B/S, or three-layer structures, the bitcoin system is based on a P2P network, where all nodes are peer-to-peer, and all run the same node programs.

The bitcoin structure is very limited to supporting applications out of digital currency, and as the blockchain technology became independent from Bitcoin, its development concept as a programmable distributed credit infrastructure is gradually established, and the transition to blockchain 2.0 mode is characterized by supporting smart contracts and decentralized applications. Ethereum is a classic example of the blockchain 2.0 mode.

Recently DeFi has led the crypto world with innovation in the last two years, and NFT has again driven the market crazy with hot concepts one after another. The network performance becomes the key. However, Ethereum faces the problems of high Gas fees and expansibility. Therefore, Genesis, representative of blockchain 3.0, becomes a good medicine to solve the market problems.

Genesis was founded by Genesis Lab, The U.S. Ivy League University Labs, the Silicon Valley Developer Geek Alliance, and others, and is one of the first members of the World Blockchain Organization (WBO). Genesis is committed to creating a borderless, industry, cross-platform peer-to-peer transaction method, to create a larger network as well as a more efficient transaction system.

The Genesis is the culmination of blockchain development into the 3.0 era, building decentralized, ownership-free operating systems on the cloud to create and execute smart contracts to host the rapidly growing global digital economy. In general terms, the Genesis public chain is a world computer that cannot be shut down and will run forever.

Compared with ETH, the masterpiece of Blockchain 2.0, Genesis public chain has higher expandability, faster transaction processing speed, more stable all-node operation mechanism, stronger security protection, more reasonable transaction fees, and more reliable sources of token value. These innovative and excellent technical specifications will enable Genesis to truly practice efficient operation in decentralized applications (dApp), decentralized finance (DeFi), and non-fungible token (NFT), distributed storage, supply chain finance, depository, etc.

The Genesis in the 3.0 era builds a powerful decentralized infrastructure for business and finance in our society, and it will be the first Turing-complete and large-scale commercial-level world computer. Genesis provides more solutions to social problems such as activating global business vitality, breaking the capital monopoly, reducing the gap between the rich and the poor, and building a fair social environment. The path it explores is opening a new chapter of human social civilization.

Genesis Chain (GS), has recently won a strategic partnership — AdobeInc，a world-leading provider of digital media and online marketing solutions founded in 1982, and to reach a strategic partnership on software expansion and trusted solutions for the next generation of connected world. Both sides have reached a high level of consensus on software expansion and trusted solutions for the next generation of connected world.

Adobe Systems Incorporated is a multi-billion-dollar company dedicated to providing new technologies, products and services that help users and business achieve a better cost of efficiency.

Genesis is co-sponsored by Genesis Lab, the U.S. Ivy League University Labs, the Silicon Valley Developer, Geek Alliance and others, and is one of the first members of World Blockchain Organization (WBO). Genesis is committed to creating a borderless, industry, cross-platform peer-to-peer trading method, creating a larger network as well as a more efficient trading system.