As at 2008, when the world recorded the largest financial crashes in its history. The digital currency named Bitcoin came into existence, it was a currency the actually proposed the first and fully decentralized peer to peer digital monetary system which does not rely on either the government or banks. Not too long after the Bitcoin has gain its ground then other currencies began to show up its implementation, and this brought the likes of Ethereum that execute on a smart contract and in action enable ability of transferring and storing of values.
1.0.1 THE CRYPTOCURRENCIES ECOSYSTEM AS IT GOES SINCE INVENTION
“As of April 2018, the total cryptocurrency ecosystem is values at over $300B, this includes over 1,500 cryptocurrencies and token and over $4B was raised in token launches alone in 2017”. Native whitepaper
1.0.2 CHALLENGES CRYPTOCURRENCIES FACED TODAY
There have been a large numbers of recorded fraud and market activity and these have been caused due to the fact that there have been absence of structure that allow to operate for a non-technical communities which will allow users to be able to generate their own currencies. So also there is no mechanism that exists which enable to value currencies against each other.
Here come a platform that provides the structures needed to value and operate. Let you and i embrace Native
2.0 What is Native?
Native is an ethereum based platform that based on the provision of the fundamental structure that is used to value and operate different communities in order for them generate their own token currencies and efficiently set their own decision making tools.
Native is also a platform that empower those with limited economic and technical knowledge to be able to prosper in using the financial ecosystem.
2.1 Native Intention
Native is a platform that intended in providing communities with interface that will enable them to effectively run and making a clear decisions.
Native intends to make communities currency uniques with digital functional standard that include:
Native is a platform that contribute to the prosperity of communities in the area of membership because membership should at least be the priority of a community whereas there will be large population of user.
The serve as area of boost to communities funds through:
- New members joining
- High level of membership participation
Native makes communities transaction safe and secured using smart contract where fund are being escrowed and members have a predetermine amount of time to support the community project.
However, funds are allocated to allocate wallet which is designated for project creation. The situation whereby quarom is not reach, the escrowned fund are moved back into the community fund safe and secure.
Native enable community project decision making to be alone through some curator panel where there is the use of polls, the polls are therefore general decision made by community members,. Once a poll is proposed the community members have a predetermined length of time to vote the enable the poll to be valid.
- Native is a platform that intends on delivering, with a simple template that would make the users to execute their ideas even though there is case of lack of technical knowledge from the users.
2.2 Native Founder
There is always a brain behind every successful plan. Native was founded by Jake Vartanian. He is known to be one of the very early cryptocurrency influences, he is the founder of cryptodex (the 1st advisory from that is being specialize on token launching).Jake Vartanian has worked with plenty of high profile startup such as Tokencard, SingularDTV helping them to design a token models Jake’s roots in the cryptocurrencies space come first and foremost from his decision to teach himself about financial market which inevitably revealed to him the faults of modern day money. Browse for more interesting fact about Jake Vartanian here.
2.3 Native First Communities
Native is not new in this business because it has previous launched with six (6) pilot communities at its early state and it has achieved many other more.
The six (6) pilot communities SGD
is a decentralized distributed communities that is based on technology stack for the United Nations Sustainable Development Goals.
Is a blockchain, decentralized open learning organization working toward future of smart education the is open and rewarding for users.
The Rick & Marty crew:
Is a collective of fans committed to embarking all things wiibalubadubdub.
Is a New York based non-profit that is committed to accelerating spread of peace using community drive all over the world.
A community of conscious fill enthusiast that consist of filmmakers, viewers and founders convened in one digital ecosystem.
Is a boulder Colorado based on non-profit that engage young people in programs to empower and amplify their voice toward environmental justices.
3.0 Native Application
Native application can be access by members through the brave browsers and a Metamask wallet where all Native Token (NTV) can be purchased.
So also the Native platform can be access from any browsers.
3.1 Native Users
Native platform is only accessed and useful for the (main users which are the:
The curators is known as the members of the communities and not an ordinary members they are the trusted administrators of the communities.
- They work for the communities in many different ways such as:
- They work to put in through the community initial vision.
- They work toward the necessitation that is added to the communities in order for member to vote on.
- They are in charge of accepting or denying work completed by community members.
- The member consist of users of communities and they performed tasks in many ways to support communities such as:
- They form communities aligning with their values, interest and goals.
- They serves as the ultimate decision maker for the communities capital deployment and decision.
- They have power to vote in and out a curator if there is need for it.
- They are not restricted to join and participate in multiple communities.
4.0 Native Ecosystem Architecture
Native ecosystem is however based on its token (Native) and community currencies whereas the both have similar functionality.
Native Token is the base currency for all other currencies on Native, it also provides membership to the Native community.
Initially, Native token holds a reserve in Bancor Network token (BNT). It may be determined that a combination of token held in reserve may be most suitable for Native needs. Native reserve the right to modify if agreed upon through a community poll.
Native Token conversion will initially utilize the following split.
- Community fund – 50%
- Smart Token Converter – 10%
- Connector Balance – 40%
Native initially will maintain a 10% connector weight (equal to smart Token Converter) to ensure a significant pool of liquidity users want to move back into BNT or ETH.
Community currencies are the local currency for each community. They hold their reserve in Native Token. Initially, community currency splits are standardized to:
- Community fund – 80%
- Smart Token Converter – 10%
- Connector Balance – 10%
Ecosystem Structure Implications
The Native ecosystem is designed to create aligned interests between all community leveraging the same base currency ensure that as long as Native is growing, each community will grow. The opposite is not true (contraction of Native is not causuative of community contraction) as the total value of community could extract is the total amount of Native Tokens deposited into the community.
Source: Native whitepaper
5.0 Advantages of Native Platform
- Discovering of Communities
So many users have gone a long way, extramile to look for choice of community where they can make use of their token, using the Native Platform will help in finding community where users will be interested in order to support them through the purchase of their tokens. Once the user have gotten the toke, their value can be tracked and their direct input will be assessed in the development of the community through users votes.
- Creating of Communities:
Native make user to initiate their idea of the community either by deciding what user want to build the community around.
User can sell token, their value can be tracked and their direct input will be assessed towards the development of the community through user vote.
6.0 User Case
Paul an human right activist that love to fight and speak for the youth in order to fight for justice.
He one day thought that he needed to go beyond just ordinary his country and go through all over the world. He thought of which community to join online that is also engaging in what he is doing. Not until he found the Earth Guardians and he join the community and became one of the curator whereas he now took part on all activities, decision and other thing partaking to the community he joined.
7.0 Summary of Native
The native platform help people to create their state of mind using their initiative and financial resource the pursue what is worthwhile and the create a core features for communities that include.
The member contribute to the community through their vote.
The member are and enable to complete task in exchange for the communities token.
The members are able to decide on the project the communities want to engage in.
Native platform is a platform that provide a fundamental structure that can be used to run a communities that will have all access of setting its decision making tools, and mainly giving the less technical knowledge to participate in many financial ecosystem without difficulty.