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Author Topic: EULO's Solution from part of EULO'S White Paper  (Read 103 times)
EULO
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November 02, 2018, 08:52:08 AM
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1. Solution
Based on the PoW + PoS algorithm, EULO adopts a double-layer network constructed by master node and super node, uses zero knowledge proof, optimizes the blockchain transport layer protocol (TCP) at the same time, and realizes the fast payment and the transaction in anonymity scenario. In addition, EULO has added the oracle machine design and created decentralized blockchain-based bank to reduce the affection of price fluctuation in the crypto currency market on traditional investors.
1.1   Solving the single problems of the PoW + PoS consensus mechanism
The PoW+PoS algorithm is adopted in EULO's consensus mechanism. PoW is used to generate and distribute EULOs. The total amount of EULOs is constant, at 21 billion, adopting PoW mining, similar to the network mining of Bitcoin. The Bitcoin network has been operating for nearly ten years without obvious problems, and its PoW consensus mechanism and the economic model based on it are more robust than other consensus mechanisms.
The PoS consensus mechanism is used to package EULO transactions, which processes transactions faster. After having been packaged and separated, EULO generation and transactions will also be more secure. If 51% attacks occur due to the concentration of computing power, the generation of the subsequent EULOs can only be affected, and historical transactions cannot be tampered with to assure the security of the account assets of the users.
1.2   Solving the problem of long-time block confirmation
EULO constructs a double-layer network for transaction confirmation, and modifies the underlying network transport protocol to shorten block confirmation time. The double-layer network of ordinary transaction confirmation refers to a network composed of ordinary pos nodes (referred to as ordinary nodes for short) + master nodes (including super nodes), ordinary nodes are responsible for package transaction and broadcasting to the super nodes and other master nodes linked by the master nodes after package. The super nodes are similar to the CDN nodes in the traditional Internet, and they mainly solve the problem of data synchronization without other privileges in consensus. If the customer initiates an instant transfer transaction in Instant-Send mode, the input of the transaction is locked to a corresponding specific transaction, the transaction has agreed to be locked in the master node network, and all conflicting transactions and blocks are always rejected unless they match the corresponding ID of a currently locked transaction. At present, the time locked for an entire-network transaction is about 1s, so fast transactions with Instant-Send allows for the secure receipt within 1s, which we call second receipt.
EULO also modifies the underlying network transport protocol to first make the information transmission confirmation faster in the ordinary network, and secondly make the transmission of the cross-border network break through some restrictions and solve the cross-border payment problem in the complex scenarios of the network environment. It makes it possible to exchange information at a high speed under the master node protocol in ordinary nodes, and this mode has higher requirements for the network environment in which the super nodes are located.

1.3   Solving the affection of digital currency market fluctuation on investors

EULO took part in the decentralized oracle machine design and created a decentralized world bank based on the design. Through the exchange rate locking function of the world bank, The investors can use the exchange function of the World Bank to obtain the equivalent value exchange of the stable-coins BCK and reduce the effect of drastic fluctuations of digital currency market on investors. The risk is lower and more controllable, and the participation threshold of traditional investors is also lowered.
Essentially, The World Bank is a DAPP realized by a smart contract, and it can realize the functions of exchange rate locking and saving etc. in the traditional financial field on the blockchain. It enables the blockchains to better serve the traditional real economy. The main process is divided into: price acquisition; Deposit in a certain quantity of EULOs at current price in the World Bank for forward RMB-FX trading. An automatic return after maturity to the chain bank may acquire a current number of currency corresponding to the original total market price.
Moreover, through cooperative intelligence, the oracle machine can derive more DAPP applications applicable for various lottery and game industries.

1.4   Solving the problem of privacy leakage

EULO uses zero knowledge proof to solve the problem of privacy leakage. The “Zero knowledge proof” means that it not only can fully prove the legal owner of certain rights and interests, but it also does not disclose relevant information - that is, the "knowledge" exposed is "zero." The EULO can be transacted anonymously, providing protection for data privacy on EULO. When the data is owned by an individual, the information of the individual can be effectively used and exchanged without exposing privacy. In this respect, the scenarios in which EULO can be used by expansion include: encrypted communication and data isolation etc.

2. A Decentralized Blockchain-based World Bank
Through the smart contract mechanism of EULO, it can issue the stable-coins on the main chain of EULO. The first stable-coins that issued on the EULO is BCK (Knife Coins for short), BCK runs according to the algorithm under the smart contract, the trust mechanism of decentralization addresses the problems regarding excessive issuance, such as the stable-coins in need of centralized endorsement and difficult to regulate.
BCK has equivalent hook with US dollars, the EULO and BCK can automatically exchange under the smart contract. Therefore, the smart contract with exchange function on the main chain of EULO is called Blockchain-based World Bank.
EULO uses the oracles to acquire the off-chain EULO market information and other data as the basis for exchange between blockchain assets. Transfer a certain amount of EULOs to the smart contract address of chain bank, the smart contract will generate the real-time exchange rate under the mechanism of oracles, and automatically exchange the corresponding amount of stable-coins BCK.
The process is as shown in Fig. 3-1:
The commission charge of chain bank is 3%, which means transferring EULO of $100 (if the current price of EULO is $1 and the amount is 100) into the chain bank, the market value of BCK can be obtained: $100×(1-3%)=$97.
The stable-coins BCK exchanged through the chain bank can be transferred to the chain bank in two months to be automatically exchanged for EULO. The whole process is free of commission, that is, the BCK worth $100 can be exchanged for EULO with the same value. If the EULO rises to $2 at this time, the number of EULOs worth $100 is 50; if the EULO Holding the stable-coins BCK can not only avoid significant fluctuations in value, but can get dividends from the chain bank. Each year, the chain bank will directly distribute dividends worth 60% of its EULO income on the basis of the number of locked positions on the BCK registration day.

The income of the chain bank is mainly divided into: 1. the EULO exchanges for the stable-coins BUC on the chain bank, and automatic deducted commission fee for the smart contract is 3%; 2. If the EULO exchanged by the stable-coins BCK which is obtained by the chain bank gets a higher price, the chain bank will earn more EULOs.

ps:
This Art is from  part of EULO'S White Paper ,want to learn more about EULO? Click the link:www.eulo.io
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November 02, 2018, 10:23:45 AM
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I like your ideas, they have a rational grain. But you need to finalize the design of your ideas in the form of a thread on the bitcoin forum. Now marketing in the crypto industry is too important(. It is necessary to present your product more clearly. Perhaps, do airdrop or bounty, try to enlist support known and honest advisers...
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