THE MAJOR COMPONENTS AND FRAMEWORK OF ALLSTOCKS NETWORK

ikkelins (49)in #ethereum • 6 years ago

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Allstocks Network is a stock exchange platform which envisions the use of blockchain technology and smart contracts in making transactions all over the world. The blockchain technology has some features that would help make this vision a reality and some of them are transparency, safe and secured transactions, complete track of all records of transactions that occur on blockchain.

It is against these features and more that allstocks network will solve the problem of delayed payment transactions in exchanges, high fee charges during exchanges, keeping safe all records of stocks etc. To be able to achieve this Allstocks Network has put in place certain mechanism and structures in place to help facilitate this process. The series of Allstocks Network campaign continues a look at the major framework and components of Allstocks Network.

THE ARCHITECTURAL FRAMEWORK OF ALLSTOCKS NETWORK

Exchange platform

Having an exchange platform on its own is very necessary to run a stocks and exchange platform and allstocks network would make available digital wallets to its registered users so that they can trade on the platform either buying cryptocurrencies or exchanging cryptocurrencies for fiat currencies. This exchange platform would also generate revenues out of the little fees that users are going to be charged when performing transactions.

The Use of a Public Blockchain

By using the blockchain technology Allstocks is going to make sure that, all transactions that are made on the platform whether being it exchange or stocks trading are going to be recorded and kept safe on the ledger system of the blockchain. This is to ensure that any terms of agreement that parties agree upon in any transaction is kept safe from alteration by any third-party system and also to prevent one party from altering the terms of agreement.

Development of Applications

To ensure the smooth running of this platform several applications would be developed to serve several purposes on the platform. Some applications would be used as wallets where users can keep their cryptocurrencies and also a trading platform where users can buy cryptocurrencies. Also, some apps would be developed as a payment processor which would be used to pay parties after negotiations are done in good faith.

Trading of Asset-backed tokens

Users would also have the opportunity to buy these asset-backed tokens hold it for a while and sell it off to gain profit. To do this, users would have to fiat currency into the system and the system sends back to the user the equivalent number of asset-backed tokens. After holding the asset-backed tokens for a while and upon looking at the exchange platform if a user realizes that he/she can gain interests upon selling his/her asset gained tokens he can do so and earn fiat currencies back.

Regulation of transactions on the Allstock Network

All transactions are going to be regulated with reference to both local and foreign rules. The use of Know Your Customer (KYC) and Anti-Money Laundering will be required in making transactions on this platform and this is to certify the authenticity and the reality of users engaging in any agreement.

THE ALLSTOCKS NETWORK SYSTEM

This network platform would run on an Ethereum blockchain which is very secured and a transparent system. The Ethereum blockchain is quite favorable to run on most operational platform and it is quite suitable for the allstocks network. This type of blockchain was developed as a result of certain hitches that was seen when bitcoin was launched in January 2009 by Satoshi Nakamoto. It was a breakthrough in technology but it still needed a touch of colour which Vitalik Buterin answered the call by developing the Ethereum blockchain.

Also, allstocks network would operate with the use of Cryptocurrency Tethered Tokens (CTTs): these tokens represent financial assets that would be contained on the platform. Not only CTTs but also allstocks network would allow the use of fiat currencies and would still make room available for the addition of other fiat currencies.

At the start of this network some fiat currencies have been designated to work on the platform whiles plans would be put in place to add on to it so all investors are to note that there would be room for everybody no matter your state of currency. The following are the currencies that would be allowed to operate on the platform USD, EUR, GBP, RUB, CNY, JPY. More fiat currencies would be added unto the platform as time goes and when Allstocks Network keeps growing.

After all the above has but put in place now is the time to make agreements so that transactions can take place. All the financial assets of allstocks platform would be deposited into an escrow account. The use of this Escrow account is to ensure that financial assets are safe from the reach of any party involved in the negotiations of the transaction so that in case there is going to be a review of terms and conditions regarding the transaction both parties would have to be present for fairness and transparency.

THE INFRASTRUCTURE OF ALLSTOCKS

Allstocks Network can only function appropriately with certain mechanisms put in place. On the start is the use of blockchain on which all data consisting of users balances and transaction are going to be stored. Users of this platform would also be required to get for themselves Ethereum wallets which would be used to make transactions on the platform. Allstocks platform tokens are going to be a standard ERC20 compatible tokens.

Furthermore, another form of advanced technology, which is smart contract is going to be used in the transaction of tokens. This is to ensure that transactions done on the platform are easy, safe and very quick. There is also going to be Auxiliary Smart Contracts that are going to be used for switching between cryptocontracts that are running on different models and also activating the use of other API functions.

In addition, a set of toolkits would also be provided on the Allstocks Network platform which would monitor how things are running on the Allstocks platform. There are many infrastructural components such as CTT Explorers, Off-chain Infrastructure etc. that would all be put in place for the smooth running of Allstocks Network.

TOKENS
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ROADMAP

TEAM MEMBERS

The vision of Allstock Network is a big one and it backed by a group of hardworking team members whose sole purpose is to see to it that this project becomes a great success. With their knowledge and experiences in the various fields of profession they are going to make sure that Allstocks project becomes a great success. This is to assure investors to invest massively into this project without any sense of doubt of great success. Below are a few of the team members, please refer to either website or whitepaper for more information.
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