According to foreign media reports, the world’s largest decentralized market Vtoken this year will launch a Paydex, a new instrument of payment cryptocurrencies. Of relevant information, we can detect that the application and innovation in technology Paydex will give new ideas for the development of digital payments. tools.
The The The The for Example, Vtoken, VPC, USDT, VRT, YEC, EOS, LTC, VUST, etc., It will also support treatment and payment of digital assets in V-tokens, and global calculations on the basis of cryptocurrency. The underlying technology of the blockchain V-token Paydex introduces a limited system of real names to ensure the security of funds while providing sufficient anonymity. At the same time, the results of the global payments confirmed in real-time without overloading the network.
From the point of view of technical advantages, Paydex uses the mechanism of consensus is Proof of Burn, the underlying technology Vtoken. Through superuser each user can easily and fairly to query the browser of the chain to achieve transparency of assets and rejecting false accounts. Each user is clearing gateway the Provision of a payment made on a global scale for all currencies in cross-border basis. Providing payment SDK for the seller, the QR code can be found on the website of the seller in the payment. Result and automatic delivery may be returned, and all application scenarios of the global shopping Mall can be associated and paid for.
From the above we see several key pieces of information: the mechanism of consensus is Proof of Burn, the browser request chain. So, what is the mechanism of consensus is Proof of Burn? What are the functions of browser requests in the chain?
Paydex Proof Of Burn Consensus Mechanism
To understand the mechanism of consensus Paydex Proof of Burn, we must first understand what is the mechanism of consensus. The mechanism of consensus helps the blockchain to reduce the costs of establishing trust and realize the value of the Internet. Simply put, the mechanism of consensus is to Make it so that several participants agreed with the result, but parties that have no Central control and mutual trust database and finally, I agree with the result, this process is called the mechanism of consensus. Currently the basic mechanisms of consensus include the mechanism of PoW, PoS and DPoS mechanism Mechanism, in addition to such as a mechanism dBFT, PBFT mechanism, the mechanism of DAG, the mechanism of PoA and so on.
The disadvantage is that there is a limb, and she spends a lot of energy. Many criticize her for what she spends a lot of computing resources. The difference is that the algorithm is simple, and the destruction of the system should be very expensive. The difference is that he will bring the branch, many will criticize him for the Matthew Effect. DPoS is delegated proof of stake, the certificate of authorization share specializiruetsya on the role of the accountant in PoS, choose accountant through the capital and then takes the records in the accounting Department. The downside is that the last problem is still not resolved.
Proof of Burn is called PoB. The Paydex system is a Proof of Burn mechanism is the basis for security of transactions, their values, fairness and trust. To obtain a new cryptocurrency, the user must “burn” (destroy) a different currency, E.g. bitcoin. Theoretically, every new cryptocurrency will be worth the value of the destroyed coins, but in fact the user is not able to destroy the cryptocurrency, the system requires that the user sent it to the address, which will decrease the Service and efficiency of cryptocurrency for Use as evidence that “bitcoin can no longer be used”, and the user can obtain other cryptocurrencies as a reward after burning cryptocurrencies.
The coordination mechanism of the evidence of the burn provides a control system for determining the creation of value, a payment method transaction fees and the new method of payment of dividends to shareholders. In the framework of the coordination mechanism of the proof-of-possession Vtoken users can create their own cryptocurrency using the appropriate Blocking cryptocurrency at this address indefinitely, it is possible to avoid some legal problems. Paydex advantageously combines the advantages of the mechanism of consensus is Proof of Burn in the area of payments. At the same time it implements the Transfer of the payment amount approves the transaction through the mechanism of consensus, allows to avoid double payment and reduces the cost of the user as the method of payment of fee for the transaction.
Chain browser request
The browser’s query port along with the mechanism of consensus is Proof of Burn. Paydex allows each user easy and fair to request the chain through superuser. The content recorded in each block, you can view and check from the browser of the blockchain to actually receive the asset Transparency and reject false accounts.
Paydex Clearing Gateway uses technology from public chain Vtoken developed by the original team of founders of Ripple. It combines the underlying technology of Ripple, Stellar and graphene. This is such a banking system like Stellar between Fiat and cryptocurrency. The transaction rate) which is better than the processing speed EOS. This is the most suitable technology of the blockchain for a payment gateway in the underlying technology.