Ecosystem
Ecoball ecosystem is large, but can grow sustainably.
The Ecoball ecosystem is composited with multiples systems like the Dapp operating system, the ECO tokenomics model, the community autonomy model and the network cloud system. The formula makes Ecoball a powerful engine for applications, Dapps' usability gets improved to the next dimension, mass adoption is made possible.
Today, most decentralized exchanges run on Ethereum, and they are limited by the congestion, low concurrency, and high gas fees. The DEX user experience is somewhat unsatisfying. Ecoball uses a flexible and elastically consensus mechanism to allow developers to build an efficient DEX with fast transaction speed and low transaction fees. For example, the Ecoball built-on DEX Exabc.xyz uses optimization algorithms to reduce the problem of impermanence.
In DeFi space, a model of mortgage has emerged: cryptocurrency mortgage. If users want to borrow 100 US dollars, they shall transfer at least 150 US dollars worth of cryptocurrency to the platform to lock, after which the system will automatically release the funds. Compared with the traditional mortgage loan model, digital currency mortgage has unique advantages in terms of operating costs.
Traditionally, to mortgage a house, the agency needs to verify the house ownership and evaluate the property value. If the borrower defaults, the agency will bear the costs of manpower and time to auction the property. The same is true for other mortgages.
As in a cryptocurrency lending platform, when a cryptocurrency worth of $150 is about to fall below $100, the platform will sell the cryptocurrency to not lose money. This model is considered risk-free.
However, these cryptocurrency mortgage lending platforms, like traditional mortgage lending, also rely on interest to make money. At present, the annualized interest rate of this industry is about 10%, and the rate of return is quite attractive.
Decentralized insurance services are enabled in the forms of mutual insurance and financial derivatives. It is enforced automatically and cannot be tampered with. Common risk events in the token circle such as private keys theft, cyber attack, stolen wallet and smart contracts manipulation can be insured.
Algorithmic stablecoin, also known as unsecured stablecoin, imitating the central bank, it has no collateral and it is directly issued through a smart contract. Issuers claim that the stablecoin is fixed at 1:1 ratio to US dollar in value. When the coin price goes beyond that ratio, issuers will issue additional coins to decrease the price back to the ratio. When the price of the currency falls below, the supply of stablecoins is retracted through the issuance of bonds to maintain the ratio.
Non-Fungible Token NFT (Non-Fungible Token) has the characteristics of indivisible, irreplaceable, and unique. It provides a way to mark the ownership of native digital assets (that is, assets that exist in the digital world or originate from the digital world). ). The ownership can exist outside the centralized service or centralized library. The non-Fungible and inseparable nature of NFT makes it possible to bind to some commodities in the real world and issue digital assets on the blockchain. This asset can be game items, digital artwork, identity certificates, Tickets, domain names, etc..These tokens are unique and non-copyable. Since NFT has natural collection attributes and is convenient for trading, crypto artists can use NFT to create unique digital artworks.
The computing, transmission and storage of large amount of data have a huge market. According to the 'Data Age 2025' released by the International Data Corporation (IDC), the global annual data amount will increase from 33ZB (1ZB=10 trillion bytes) in 2018 to 175ZB, which is equivalent to 491EB (1EB=1.1529) per day.
Ecoball Distributed Computing Storage System (Ecoball File System, EcoFS), is a decentralized P2P distributed file system. It is an evolved version of IPFS and FileCoin, composed and owned by users.
A validator runs a node that verifies transactions and finalizes blocks on the Ecoball chain. Each validator must provide a minimum ECO collateral of 500,000 to setup a node. They start as candidates, and have the chance to become validators every 24 hours in a new round of election.
Developers can build applications on Ecoball, including industrial applications and DeFi applications. Applications that support EVM can be migrated smoothly, expanding their application scope and user groups. For migration details, please refer to the developer documentation.
ECO holders are voters. When a voter stakes ECO in a validator / candidate pool. If the validator / candidate gets elected to be a validator in the next round, the voter will share pool rewards. By staking ECO, voters vote on their best interests, and the minimal amount to vote is 1000 ECO.
Last modified 1yr ago