Topic: Genesis Public Blockchain Technology Features and Value (Read 58 times)
It sounds amazing but how does it compare to the internet computer and Celo?
Genesis is high-performance, scalable, configurable and secure, designed to develop application-specific, scalable iterative decentralized applications and complex digital assets. In fact, Genesis develops and updates various smart contract-focused projects to accelerate the blockchain space through rapid implementation. Meanwhile, with a transaction throughput of 5,000 transactions per second (TPS), Genesis is one of the public blockchain platforms worldwide that can confirm transactions in less than a second.
DPoC Consensus Mechanism
Genesis considers the value of consumption contribution as a core resource to encourage eco-participants to maintain transaction activity and transaction security (transaction qualification and transaction after-sales guarantee), and rewards consumption contributors according to the DPoC (Delegated Proof of Consumption) consensus mechanism.
Any account can be rewarded for its contribution through ecological participation, and Genesis feeds back the computing power according to the consumption contribution, and the computing power holder can become a node to compete directly for the bookkeeping rights and get the block reward, or be attached to a node to compete for the bookkeeping rights and get the block reward.
Technical Architecture
The technical architecture of Genesis is mainly divided into 7 layers: application layer, contract layer, incentive layer, consensus layer, network layer, data layer, and encryption layer.
Application Layer: Supporting various business applications meet the needs of the pan-business ecosystem of Genesis.
Contract Layer: Mechanisms and rules for determining the operation of public blockchain through virtual machines, application engines, smart contracts, etc.
Incentive Layer: Eco-participants of Genesis are rewarded with corresponding mining, rewards, voting, community incentives, etc.
Consensus Layer: Transactions as well as contributions based on the pan-business ecosystem of Genesis are fed back as computing power, using the DPoC consensus mechanism.
Network Layer: A P2P network linking various sections of the Genesis pan-business ecosystem and ensuring the security of the network and its sub-networks.
Data Layer: Mainly used to store block data, including transaction data, block height, previous block hash, current block hash, and timestamp.
Encryption Layer: To make public blockchain achieve data security immutable and irreversible, encryption and signature technologies are used, including hash function, Merkle tree, asymmetric cryptography, etc.
Token Utility
GS is the value and equity token of Genesis ecosystem, which adopts "deflationary dynamic supply mechanism" to calculate token yield in real time by multiplying the floating factor based on the actual business demand model above the exponential decay baseline.
The use scenarios of GS in Genesis ecosystem are focused on four areas: business ecosyestem, tokenomics, asset trading, and DAOs, including margin pledge, consumption reward, token issuance, technology export, crypto trading, reward and punishment to network nodes, community voting and etc.
Application Value
Genesis is committed to building a decentralized commerce (DeCom) ecosystem, and is about to become an even greater windfall after decentralized finance (DeFi). Since then, blockchain will officially kick off the change of production relations, and the characteristics of this business form are: the combination of efficient commerce and trusted commerce.
In addition, Genesis will also be given full play in the fields of e-commerce industry, product traceability, supply chain finance, logistics system, IOT ecology, on-chain assets , data processing (TPS), as well as consumer entertainment and crypto trading. The basic functions such as payment, consumption, cryptocurrency, product anti-counterfeiting, and commodity confirmation are to be optimized.
DPoC Consensus Mechanism
Genesis considers the value of consumption contribution as a core resource to encourage eco-participants to maintain transaction activity and transaction security (transaction qualification and transaction after-sales guarantee), and rewards consumption contributors according to the DPoC (Delegated Proof of Consumption) consensus mechanism.
Any account can be rewarded for its contribution through ecological participation, and Genesis feeds back the computing power according to the consumption contribution, and the computing power holder can become a node to compete directly for the bookkeeping rights and get the block reward, or be attached to a node to compete for the bookkeeping rights and get the block reward.
Technical Architecture
The technical architecture of Genesis is mainly divided into 7 layers: application layer, contract layer, incentive layer, consensus layer, network layer, data layer, and encryption layer.
Application Layer: Supporting various business applications meet the needs of the pan-business ecosystem of Genesis.
Contract Layer: Mechanisms and rules for determining the operation of public blockchain through virtual machines, application engines, smart contracts, etc.
Incentive Layer: Eco-participants of Genesis are rewarded with corresponding mining, rewards, voting, community incentives, etc.
Consensus Layer: Transactions as well as contributions based on the pan-business ecosystem of Genesis are fed back as computing power, using the DPoC consensus mechanism.
Network Layer: A P2P network linking various sections of the Genesis pan-business ecosystem and ensuring the security of the network and its sub-networks.
Data Layer: Mainly used to store block data, including transaction data, block height, previous block hash, current block hash, and timestamp.
Encryption Layer: To make public blockchain achieve data security immutable and irreversible, encryption and signature technologies are used, including hash function, Merkle tree, asymmetric cryptography, etc.
Token Utility
GS is the value and equity token of Genesis ecosystem, which adopts "deflationary dynamic supply mechanism" to calculate token yield in real time by multiplying the floating factor based on the actual business demand model above the exponential decay baseline.
The use scenarios of GS in Genesis ecosystem are focused on four areas: business ecosyestem, tokenomics, asset trading, and DAOs, including margin pledge, consumption reward, token issuance, technology export, crypto trading, reward and punishment to network nodes, community voting and etc.
Application Value
Genesis is committed to building a decentralized commerce (DeCom) ecosystem, and is about to become an even greater windfall after decentralized finance (DeFi). Since then, blockchain will officially kick off the change of production relations, and the characteristics of this business form are: the combination of efficient commerce and trusted commerce.
In addition, Genesis will also be given full play in the fields of e-commerce industry, product traceability, supply chain finance, logistics system, IOT ecology, on-chain assets , data processing (TPS), as well as consumer entertainment and crypto trading. The basic functions such as payment, consumption, cryptocurrency, product anti-counterfeiting, and commodity confirmation are to be optimized.
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