Hi Guys ! all of you know I always bring you the information about good crypto related projects through my blog. So today I'm going to introduce you a new cryptocurrency based project called Vena network
What is Vena Network?
Vena Network is an open block chain-based protocol in which the generic architecture allows users to write contract terms to define rules for various decentralized financial activities, including release. ownership, loans, transactions, etc. Users can retain copyright and thus have the natural development of a market for smart contract templates in Vena Network. Vena ensures that basic interfaces can be freely defined and provide a standard intelligent contract debt (loan, credit, mortgage) and transaction library to help users create interactive financial DApps. ) fast, convenient and safe.
How Vena Network Blockchain Works?
With the Vena.Network, there is lending on the blockchain, which is both transparent and being on the peer-to-peer basis, as it helps to create a decentralized digital assets financing. This means that anyone and everyone can process a peer-to-peer cryptocurrency based collateral loan on the Vena Network Blockchain. Added to this is the OTC trading features for both cryptocurrencies and fiat currencies. All these features aren’t possible without the Luoshu node.
Luoshu node is that the key component of the project. It permits an open agreement for tokenization and assets financing through Rocket agreement. The network lets anyone conduct peer-to-peer Over-The-Counter (OTC) transactions and digital asset management anyplace, anytime.
The certified Luoshu node has got to have all the qualifications of loan operation within the space wherever it operates. This implies that the agreement has got legal binding irrespective of places of the parties involved. This means that a loan can be issued to someone in the USA while the other party is somewhere in Asia and the terms of the loan would be compatible to the legal system of both USA and Asia.
For safety purpose, all digital assets are stored in the users’ wallets if not in use or locked in smart contracts as in the case of a lending. All assets under the collateral lending smart contracts on the Vena Blockchain cannot be used by the owners to avoid ‘double-spending’.
Vena Network Core Team And Consultants
Vena Network Goals And Advantages
Vena Network is an open source project to fill the cryptocurrency ecosystem gap than companies. Vena Foundation is a non-profit organization founded by the Vena team in Singapore. The purpose of establishing the Vena Foundation is to ensure the sustainability of Vena projects, the effectiveness of decentralized governance, the safety and transparency of fundraising, and the development and innovation of businesses to assist startups based on the Vena Protocol.
For this purpose the Vena Network will be a platform that can be excelled because of healthy Vena Network development, a comprehensive incentive mechanism established by the Vena Foundation, and some of these advantages include:
Qualification
Certified Vena Systems must have the qualifications and experience in microloan operations and comply with the laws, regulations, and policies in which they operateGuarantee
Certified Vena nodes will deposit VENA Tokens as collateral based on a certain percentage in the Vena FoundationHigh Liquidity
Certified Vena nodes can place orders into a shared liquidity pool, Vena nodes can share orders and get costs by promoting transactions, and increasing network liquidity transactions with profit sharing economic incentivesSecurity
The user's digital assets are stored in their wallet or locked in a smart contract. Vena nodes do not have a user's digital assets, thus avoiding the moral dangers of the escape platform. At the same time, it also greatly reduces the security costs required to deposit assets for nodes
Main features of Vena Network
- Building a scattered trading network using an encrypted economic model
- Users will receive decentralized identity authentication to conduct transactions involving fiat credit and currency
- The protocol design is clearly defined. Basic protocol classes are very abstract to improve the degree of freedom for secondary development, bringing more ecological roles to more innovative scenarios;
- Achieve closed circuitry of digital assets from asset issuance to secondary market transactions, and can directly complete spot transactions, mortgage transfers, and asset circulation in the Vena ecosystem.
- Supports the NFT standard and achieves a value-added mortgage loan for the portfolio through a self-determined contract.
- The third party implementing the sample contract library in the property protocol layer will retain the copyright, thereby establishing a sample contract deal and service market and the author may charge the user for the service fee.
- Different roles within the protocol ecosystem will receive compensation; for example, auditors may use their own data model to provide users with quality credit assessment services and get benefit.
Token Distruction
The total number of VENA token emissions is one billion. And electronic keys for the team, private sales advisors, crowdfunding sales, foundation, and an incentive to be distributed by intelligent contract as follows.
For more information about vein networks, visit below:
Website: http://vena.network/en
ANN Thread: https://bitcointalk.org/index.php?topic=5031375.0
Telegram: https://t.me/vena_network
Twitter: https://twitter.com/VenaProtocol
Facebook: https://www.facebook.com/Vena-Network-207271413455484/
Thank you for watching
Author: thedinh96
Bitcointalk Account: https://bitcointalk.org/index.php?action=profile;u=1692254