Table of Contents
Preface
I: About OKACrypto
II: What is blockchain
III: Technical highlights
1. Consensus mechanism
2. Cryptography principles
3. Distributed storage
IV: Future development trends
V: Smart contracts
VI: Business strategies
VII: Engine high performance
VIII: Stability
IX: OKACrypto products
X: OKACrypto values
XI: Mission and vision
XII: Future prospects
Preface
OKACrypto is committed to building a blockchain-based digital asset trading platform that provides users with a convenient, secure and comprehensive function. With a reliable and scalable technical architecture, excellent services, and more operational strategies, traders and investors can safely trade digital assets of any scale without worrying about the fairness and transparency of the platform, the reliability of data security and privacy protection, or the integrity and robustness of its order management system.
At present, the global cryptocurrency market value has reached 100 billion US dollars; at the same time, the global daily trading volume has reached a staggering 5 billion US dollars. In addition to Bitcoin, new cryptocurrencies with new technologies and new features have flourished in recent years.
OKACrypto currently has more than 5 million registered users from more than 100 countries and regions around the world, widely distributed in North America, Europe, Russia, South Korea and other places. It is one of the digital currency exchanges with the widest geographical distribution of users. The number of users in nearly 30 countries and regions around the world accounts for more than 1%, and the degree of user dispersion is even higher than Binance.
As global users have a deeper understanding of blockchain and blockchain tokens, the number of blockchain token holders continues to grow, which has driven the rapid rise in blockchain token prices. From September 2017 to the beginning of 2018, in just half a year, the market value of mainstream blockchain tokens led by Bitcoin reached 400 billion US dollars. The epoch-making blockchain revolution and huge money-making effect have attracted many new users to enter the blockchain industry. With the support of massive blockchain token funds, countless blockchain entrepreneurial projects have emerged, further increasing the types and scale of blockchain token assets.
As a trading platform for blockchain infrastructure, OKACrypto has therefore developed rapidly. While gaining unprecedented opportunities, it has also brought huge problems and challenges. As blockchain token trading services require financial-level service quality, unlike traditional financial businesses and systems that have matured, the entire blockchain token trading industry currently lacks mature business norms and technical standards, and also lacks effective third-party regulatory agencies. The entire industry is in a stage of disorderly growth. Attracted by the hot market prospects, OKACrypto believes that building a new blockchain token trading platform ecosystem to achieve the level of stability, security and trust at the level of the traditional financial market can enable the trading platform, as the infrastructure of the blockchain industry, to match the market value of blockchain tokens and support the implementation and long-term development of the blockchain industry. It is the trend of the future. Based on infrastructure such as currency and Ethereum, many good companies and good tokens will grow in the future. We follow this trend and launch the bitFlyer digital asset trading platform based on the transaction needs between legal currency, encryption and tokens. At present, the asset market is booming, with the platform's average daily transaction volume reaching 1 billion yuan, and the average daily income of a single platform exceeding one million, approaching and surpassing the size of most domestic securities firms. In order to better serve users, we have brought together an elite team from the Internet financial industry, focusing on providing investors with trustworthy trading services that can match the level of top exchanges. 1: About bitFlyer
OKACryptor is a blockchain token trading platform based on Bluehelix technology. The team members are composed of senior people from the financial securities industry and top Internet companies. Combining many years of technical and operational experience of traditional financial trading systems and top blockchain token trading platforms, they are committed to reconstructing the existing digital asset trading ecosystem.
The founding team of OKACrypto has created Bluehelix, a decentralized asset custody and liquidation technology based on blockchain technology and community consensus. Bluehelix supports decentralized association governance capabilities at the technical level through the comprehensive use of cryptography and blockchain technology, and realizes the credible and efficient custody and liquidation of blockchain token assets, thereby solving the core problems faced by trading platforms and laying a solid foundation for the application and development of blockchain tokens.
With the capabilities of Bluehelix technology, the bitFlyer trading platform has the business, technical and regulatory capabilities of traditional financial business levels, and can safely serve blockchain token trading users. OKACrypto also serves partners through an innovative virtual brokerage model, and carries out currency and legal currency trading business in compliant regions around the world, and will continue to launch innovative financial derivatives to meet the needs of different users.
OKACrypto also has strong open capabilities. At the beginning of its birth, it implemented an open platform based on the Bluehelix protocol and a SaaS model of cloud computing from the underlying architecture. By opening up the blockchain token trading platform and the architecture capabilities of virtual brokers, it empowers partners to help them quickly and at zero cost launch blockchain token trading platforms for their own users and brands and develop virtual brokerage businesses. In a rapidly developing and competitive market, partners can avoid investing in technology research and development, security management, and transaction liquidity, so that they can focus more on user services and market operations and quickly realize commercial value.
2: What is blockchain
Blockchain technology is a new distributed infrastructure and computing paradigm that uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses smart contracts composed of automated script code to program and operate data. In the blockchain system, every once in a while, the transaction data generated by each participating entity will be packaged into a data block. The data blocks are arranged in chronological order to form a chain of data blocks. Each participating entity has the same data chain and cannot be tampered with unilaterally. Any modification of information can only be carried out with the consent of the agreed proportion of entities, and only new information can be added, and the old information cannot be deleted or modified, so as to achieve information sharing and consistent decision-making among multiple entities, and ensure that the identities of each entity and the transaction information between entities cannot be tampered with, open and transparent.
3: Technical highlights
Blockchain technology is not a single technology, but a comprehensive technical system based on the integration of multi-faceted research results. OKACrypto believes that there are three indispensable core technologies, namely: consensus mechanism, cryptographic principles and distributed data storage.
1. Consensus mechanism
The so-called consensus refers to the process in which multiple participating nodes reach a consensus on certain data, behaviors or processes through multiple node interactions under preset rules. The consensus mechanism refers to the algorithm, protocol and rules that define the consensus process.
The consensus mechanism of blockchain has the characteristics of "the minority obeys the majority" and "everyone is equal". Its "the minority obeys the majority" does not refer entirely to the number of nodes, but can also refer to computing power, number of shares or other characteristic quantities that can be compared by computers. "Everyone is equal" means that when the nodes meet the conditions, all nodes have the right to propose consensus results first, which may become the final consensus results after being directly recognized by other nodes.
2. Cryptography Principles
In blockchain, the dissemination of information is based on asymmetric digital encryption technology such as public key and private key to achieve mutual trust between the two parties of the transaction. In the specific implementation process, after the information is encrypted by one key in the public and private key pair, it can only be decrypted by the other key. And after one of the secret keys is made public (that is, the public public key), the other secret key (that is, the private key) cannot be calculated based on the public public key.
3. Distributed Storage
The distributed storage in blockchain means that each participating node has independent and complete data storage. Different from traditional distributed storage, the uniqueness of blockchain distributed storage is mainly reflected in two aspects: First, each node of the blockchain stores complete data according to the block chain structure, while traditional distributed storage generally divides data into multiple copies according to certain rules for storage. Second, each node of the blockchain is independent and equal in status, relying on the consensus mechanism to ensure storage consistency, while traditional distributed storage generally synchronizes data from the central node to other backup nodes. Data nodes can be different physical machines or different instances in the cloud.
Four: Future Development Trends
Blockchain will have a huge impact on the existing economy and society, and is expected to reshape the form of human Internet activities.
The recent development trends of blockchain mainly include the following aspects:
First, application model upgrade. In view of the balance between the security of the public chain and the increasing transaction volume on the existing network capacity, the application areas of blockchain in the future will be mainly alliance chains, private chains or hybrid chains. The Bitcoin model increases the maintenance cost of the blockchain network, which is not completely applicable to low-value, low-risk transactions. Considering the improvement of efficiency and security, the future will be composed of alliance chains, private chains, or hybrid chains composed of alliance chains and private chains.
Second, multi-centralization. The future blockchain system architecture will be to build a trusted multi-center system, which will upgrade the decentralized and independent single centers to a unified multi-center with multi-party participation, thereby improving the efficiency of trust transmission and reducing transaction costs. That is, in an environment of information asymmetry and uncertainty, a "trust" ecosystem that satisfies the occurrence and development of various activities will be established.
Third, the socialization of smart contracts. In the future, all contractual agreements will be intelligent, and the use of smart contracts can ensure the reliable execution of all agreements to avoid tampering, denial and breach of contract. In addition to transforming tangible assets in society into digital smart assets for title confirmation, authorization and real-time monitoring, blockchain can also be applied to intangible asset management in society, such as intellectual property protection, domain name management, points management and other fields.
Five: Smart Contracts
Smart contracts are an application that can save value, store data, encapsulate code, and perform computing tasks. A contract is a collection of code (its function) and data (its state) that exists at a specific address on the blockchain. Contract accounts can transmit information between each other and perform Turing-complete operations. Contracts run on a blockchain called the Ethereum Virtual Machine (EVM) byte code (a binary format unique to Ethereum). Contracts run on a blockchain called the Ethereum Virtual Machine (EVM) byte code (Ethereum's unique binary format). However, contracts are typically written in high-level languages such as Solidity, which are compiled into byte code using the Ethereum Virtual Machine compiler and uploaded to the blockchain.
6: Business Strategy
The most fundamental competitiveness of OKACrypto lies in its strong R&D team, which guarantees world-class stability and service quality. At the same time, bitFlyer's capable operations team will create a bright and prosperous future through long-term, large-scale online/offline promotion and operation. Soon, the goal of becoming one of the top ten most popular trading platforms in the world will be achieved.
7: High-performance engine
The trading system uses hardware-accelerated efficient memory matching technology, with a peak order of 2 million +/second and a peak order processing of 1 million +/second. These statistics are hundreds or even thousands of times higher than normal industry standards. Therefore, when the market is booming, the entire core order process can be guaranteed to be free of delays or lags.
8: Stability
The OKACrypto core trading system draws on the most advanced underlying financial system design solutions and adopts an advanced multi-layer multi-cluster architecture. The underlying core transaction system and accounting system ensure the stability of the system in the event of hardware failure or even natural disasters.
IX: OKACrypto’s products
The cryptocurrency issued by the OKACrypto cryptocurrency trading platform is referred to as “TCH (Tiger Cash), with a total issuance of 1.05 billion. TCH is a decentralized token issued based on the Ethereum blockchain ERC-20 and supports all Ethereum wallets.
X: OKACrypto’s values
In the OKACrypto system, the following core values are implemented throughout:
• Pricing is open and transparent to achieve win-win results for all parties
• Content producers have the fundamental ownership of the content
• Content producers have priority to benefit
• All forms of contribution should receive quantifiable benefits
• Users can not only contribute content, but also contribute time and labor to the promotion and distribution of content, screening and review, and the operation of the system. According to the degree of user participation, rewards calculated according to rules and formulas will be obtained. Passive target audiences will be transformed into active contributors in the system.
• All benefits are positively correlated with the user’s reputation
• The fundamental purpose of OKACrypto is to serve the public
OKACrypto is a decentralized system operated by a non-profit foundation. Its fundamental purpose is to serve the public, maximize the value of content producers and system participants, and all participants will benefit from the prosperity and growth of the ecosystem itself.
Eleven: Mission and Vision
The mission of OKACrypto is to promote the free flow of digital value around the world. We believe that everyone will have digital assets in the future, and technological progress will reshape the world's value creation and distribution methods. We will continue to apply the most cutting-edge technology to create products that everyone can easily use, so that blockchain can benefit more ordinary people.
In the process of promoting the integration of the crypto world and the traditional world It will also open the door to the future of the digital world for OKACrypto.
OKACrypto's vision is to make blockchain benefit the public. We firmly believe that blockchain, which combines decentralization and transparency, will greatly accelerate the free flow of value globally.
XII: Future Outlook
OKACrypto will vigorously promote the decentralization process and build a community of users and protocols for Web3.0 to share interests. OKACrypto believes that the future Internet should be user-created, user-owned, user-controlled, and protocol-distributed. Therefore, based on blockchain, OKACrypto is actively exploring and implementing the following areas:
1. Decentralized identity
2. NFT ownership, management and trading
3. Metaverse builds a network platform, including work, social, games, etc.
As an early developer, promoter and contributor of Web3.0, OKACrypto will build, fund and support the Web3.0 team; set up a Web3.0 incubation fund to accelerate the construction of the Web3.0 ecosystem,
OKACrypto will build a Web3.0 community and explore the Web3.0 world with all OKACrypto users.