Topic: Genesis Community Q&A Session 2 (Read 45 times)

1. What is the core value of Genesis?
Genesi is the culmination of blockchain development into the 3.0 era, building a decentralized, ownership-free and ubiquitous operating system on the cloud to create and execute smart contracts to host the rapidly growing global digital economy. In layman's terms, the Genesis is a world computer that cannot be shut down and runs forever.

Compared with ETH, the masterpiece of Blockchain 2.0, Genesis has higher scalability, faster transaction processing speed, more secure all-node operation mechanism, stronger security protection guarantee, more reasonable transaction fees and more reliable source of token value. These innovative and excellent technical indicators will enable Genesis to truly practice efficient operation in decentralized applications (dApp), decentralized finance (DeFi), non-fungible-token (NFT), distributed storage, supply chain finance, depository, etc.

2. What is the reward mechanism of Genesis?
In the public blockchain ecosystem built around the Genesis, ecological participants obtain hashrate by consuming contribution volume and compete for account rights to obtain block rewards
①Contribution return hashrate (take on-chain e-commerce as an example)
After the customer consumes, the merchant contributes a certain percentage of the payment amount as "hashrate tax" to the smart contract to add a liquidity pool, and the public chain feeds back the corresponding hashrate to the customer and the merchant according to the dynamic function ratio with the received hashrate tax as the parameter.

②Hashrate mining payment credentials
Merchants and customers who hold hashrate compete for account rights with the full node, and are thus rewarded with blocks from the Genesis.

③Payment credentials for revenue
As the ecological volume grows, the value of payment credentials GS will increase, and GS holders will enjoy the value-added revenue.
In the Genesis ecosystem, all those who participate in the ecological construction and contribute to the hashrate tax can enjoy the value-added dividends of the Genesis ecosystem.

Organizational structure of Genesis
①Genesis Foundation
Genesis Foundation in this proposal refers to the organization dedicated to serving Genesis public chain participants, helping to build a prosperous and peaceful Genesis community, and continuously practicing the development plan of Genesis to promote the flourishing of Genesis ecosystem.

②Protocol Laboratory
The Protocol Laboratory is a distributed team that belongs to an open source organization. The open source community does not rely on one or some people, but rather gathers a large number of contributors to share their extraordinary knowledge and great skills to Genesis to help make the project better and make breakthroughs. Their main work is product iteration, version maintenance, Genesis project incubation, etc.

③ Arbitration Committee
The arbitration committee is voluntarily initiated by the Genesis consensus community with the help of Genesis Foundation, and is mainly responsible for dealing with the resolution of disputes that cannot be negotiated between the two parties in the transaction, in order to protect the legitimate interests of each subject in Genesis.

④Node Membership
Genesis is a network composed of peer-to-peer nodes, and node members are the participants who proactively build Genesis ecology. In order to meet the high scalability, high transaction speed and high security, Genesis adopts the mechanism of "all nodes + commercial network nodes" to compete for account rights and obtain block rewards.

4. What are the first and middle-term goals of Genesis?
Upfront Objective
Build Genesis with higher scalability, faster transaction speed, and more stable node operation mechanism.
a) To complete the test network operation of Genesis and accelerate the main online launch.
b) To have the first batch of public chain ecological participants and recruit global nodes.
c) To complete the development and application of cloud wallet, decentralized exchange, decentralized payment system and other ecological sections.

②Medium-Term Objectives
Create a series of GRC (Genesis Request for Comment) development standards based on  Genesis, so that developers can follow these common interface standards to build smart contracts.
a) To develop a standardized smart contract based on "consumption contribution as investment" as a reference example for globalization of Genesis.
b) To optimize the operation process of smart contracts, and continuously add decentralized sections to build a perfect business ecology.
5. Future vision of Genesis
Gradually expand the ecological boundary of the pan-business ecosystem of Genesis.
Creating the digital economy ecosystem of Genesis pan-business ecosystem.
To effectively realize the global circulation and market-oriented distribution of digital assets through cross-chain technology.
The industrial ecology based on Genesis gradually covers financial fields such as blockchain e-commerce, digital asset payment, supply chain finance, payment voucher financial business, to real industrial fields such as commodity traceability, Internet of Things, Industrial 3.0, to global development in various social fields such as e-government and public welfare charity. It provides global solutions for activating global business vitality, breaking the monopoly of capital, reducing the gap between rich and poor, and building a fair social environment.