i really can't understanding about this system.....! Good luck....
Ok, I have to this anyway though I must warn you… this white paper loses relevance everyday that I learn something new. It will need constant updating. So on with the show…
BTC was a great idea, and revolutionized money, but did not address financial service provision. BCR focuses on making it possible to provide and use such services using crypto-currency. In any monetary system, especially in today’s complex world, the existence of service providers is essential, be it something as mundane as savings accounts, to more intricate things like Life insurance and Investment Banking. In this regard I wish to throw more weight behind integrating many existing systems and inventing new ones to begin making it possible to conduct these processes on the blockchain.
The Trust EngineIf you wanted a loan to start a business today, you'd go to your local bank, where you hold an account. They would sit down and look at various aspects of your life for example, Age, Work situation, number of dependents, spending habits and marital status. Lots of other things are considered, but basically they scrutinize you and decide whether you can be trusted and useful.
I figured out a basic metric on which to do this within a crypto-sphere. Your wallet and activity on the blockchain can be boiled down to hard facts that closely represent the financial aspects brick and mortar banks consider when they look at your status. We can extract information such as your spending habits/saving habits, your monthly income and your productivity, how frequently you use crypto currency. Using these factors we can determine how well you conduct yourself financially and how likely you are to profitably utilize funds. Once you are in the system and have performed transactions with banks, we can further analyze how you dispersed the funds, how quickly you turned a profit and how quickly you paid back any loan.
The applications of such information are staggering, but the realization that this still maintains a level of anonymity is what made it worth pursuing. This means that the global scale, the no borders nature of crypto-currency can now be used within a financial system that includes service provision. Literally, every first in this system, is a full and truly global first. Any user in the world can use your service…from the depths of third world dictatorships to the halls of first world democracies…every single person is a potential customer, all they need is a wallet.
MediumMy decision to start with a new currency came as a direct result of it being very difficult to convince anyone that my ideas were worth exploring and also a need for direct control over code and the blockchain during the initial stages.
Momentum PoW has been proven to be cpu and gpu friendly, which places it in reach of all miners, from hobbyists to professional mining enterprises. The system itself has a very aggressive difficulty adjustment protocol that ensures the network functions at high and low hashrates with an almost uniform distribution. (lol, you should have seen the arguments and trial and error)
CommunicationThe system itself has SP2PM (secure peer to peer messaging) this is used between any peer to communicate in a secure manner. Communication between banknodes/financial institutions has a special format that allows easy processing and possible automation.
