IBAX PRESENTS A FAIRER, TRANSPARENT, FRAUD-PROOF, AND SUSTAINABLE ECONOMIC MODEL
IBAX is a new blockchain project taking the crypto space by storm. Here is an eye opener about some cool features of IBAX.
One of the core issues posed in economic research is the reasonable allocation of scarce resources, which is also true in a public blockchain network. Bandwidth, storage, and hash power are scarce resources on a public blockchain. However, after thorough considerations about the contradiction between self-governance and commercialization, IBAX developers believe that, theoretically, a public blockchain network should have no participation threshold, or this threshold should be minimal to let all network participants consider only their own interests. Such actions may harm the IBAX value system in the short term, but for commercial scenarios, it may turn out to be a good market regulation mechanism.
IBAX Network is socially oriented. It is a fair market platform for value flow and circulation. In theory, any ecosystem facility can become a valuable resource. At the same time, as an integrated blockchain system, it can include hardware systems, consider actual service needs and sustainable socio-economic models, provide a gateway for decentralized data f low transactions and storage services, and ensure the authenticity and reliability of data stream transactions and the integrity and recoverability of stored data at the technical layer.
To avoid fraud and other malicious events frequent in the blockchain world, IBAX Network links the economic theory and scenario requirements and adopts the most advanced cryptography technologies in its technical implementation. These include homomorphic encryption, asset lock-up, smart contracts with zero-knowledge proof, a cross-chain mechanism with unreadable secret key pair (smart contract encryption), and multi-chain segregation. This way, ecoLib and ecoGroup projects on IBAX Network are fairer, more transparent, fraud-proof, and sustainable to the greatest extent.
The native cryptocurrency of IBAX Network serves as the transaction medium in all ecoLibs. It is the basic accounting unit for measuring the value of all ecosystem services, e.g. fees for ecosystem infrastructure construction, application development and onchain release, and calling smart contracts, etc. You can see the list of fees in IBAX Network Explorer.
Project links :
Website: https://ibax.io
Global Partner Recruitment: https://forms.gle/uahzDWJcU4ifs4zFA/
Whitepaper: https://bit.ly/3fGERao
Twitter: https://twitter.com/IbaxNetwork
Linkedin: https://www.linkedin.com/company/68016504/
Facebook：https://www.facebook.com/ibaxproject
Medium: https://medium.com/@ibaxnetwork