KNOWCHAIN ~ SPECIAL BLOCKCHAIN PROJECT
KNOWCHAIN ~SPECIAL BLOCKCHAIN PROJECT
Ultranodes system is the unique design from Knowchain for its ultimate purpose to make transactions information-rich. To maintain the 2 layers blockchain effectively, the network requires a different design from other blockchains. Ano Layer in Knowchain will be managed by Ultranodes system. An Ultranode is a Full Node who stakes a large amount of Know into lock-box.
What is Knowchain?
Knowchain is a 2 layered blockchain that powers enriched decentralized Applications with Smart Contracts and Additional Information of users on-chain.
Which problems can Knowchain solve?
Knowchain goals is to build an extensive platform for building and deploying decentralized applications and smart contracts that are enriched by additional information of users and related appendix.
By allowing people to attach more information onto Knowchain, it aims to remove barriers between the crypto world and the real world where transactions need to have enough information to be executed.
What is exactly 2 layers of Knowchain and why are they needed?
Knowchain layer 1 is the Value settlement layer. In short, you can transfer Know (crypto unit of Knowchain) through this layer to other people.
Layer 2 is the Ano layer, where additional information can be attached include Smart Contracts, Identifications, Degrees, Contents, Appendix, etc. and be bridged with a transaction in layer 1.
The layer 2 is needed to enrich the transactions on Knowchain, because in the real world need to be identified: from the identification of senders and receivers to the terms and conditions of the transactions. A bank in real world always require its clients to provide full information about themselves to use its service. With the ability of second layer, Knowchain can power both the anonymous transactions in the crypto world and identified transactions in the real world.
What are the features of Knowchain?
Knowchain is a 2 layered blockchain (can be understood as 2 horizontal connected blockchains) that power the abilities to build and deploy decentralized Applications, to create and execute complicated Smart Contracts that can connect and handle any additional information related to the contracts and parties involved.
Transactions in layer 1 can be linked to multiple Ano units (can be Smart Contracts, Addition Information, etc.) in layer 2 by Smart Bridge Protocol. Ano units in layer 2 (as Smart Contracts) can also be linked to other Ano units (as Additional Information).
The layer 1 is maintained by nodes using delegated Proof of Stake consensus algorithms to define new blocks of transactions while layer 2 is secured and managed by a system of Ultranodes with the concept Proof of Authority where Smart Contracts and Additional Information are mined and arranged also in blocks.
Smart Bridge Protocol allows the connection between layer 1 and layer 2. Layer 2 also has a gateway that provide APIs for other blockchains to access and get the information to enrich their transactions.
#####When do the ICO start?
The Token Sale (ICO) will start in 1st July, 2018 with Presale Round.
How do I participate in the Token Sale?
You have to register an account on the Dashboard and complete the KYC process to participate in the Token Sale.
What is special about the Token Sale of Knowchain?
There will be two crowdsale periods: The Initial Crowdsale and The Float Crowdsale. The Initial Crowdsale has fixed rate and the Float Crowdsale has floating rate.
When will I receive my token when I participate in the Token Sale?
You will receive Know tokens immediately after completing the buying process. However, the tokens will be locked until the Token Sale is done.
Can Know token be mined?
No. People get Know through staking, delegating and running Ultranode or Service Ultranode services. By staking and delegating, you contribute in the process of creating new blocks (forging process). By running Ultranodes, people contribute to Knowchain the services like Instant payment, Information Confirmation, Storage, etc. You can participate in those 2 activities to get Know.
What is the difference between Know and Know token?
Know token is ERC-20 token built on top of Ethereum blockchain to support the Token Sale and the starting of Knowchain project. Know is the native crypto unit on top of Knowchain and it is dependent with the Ethereum blockchain. When the Knowchain mainnet is released, Know tokens will be swapped in a 1:1 ratio to Know for the HODLers.
How can I check the status of my Know tokens?
Because the Know tokens are ERC-20 tokens, you can check the status of the Know tokens on any explorer of Ethereum blockchain as Etherscan.
USEFUL LINKS :
WEBSITE : https://knownetwork.io/
FACEBOOK : https://www.facebook.com/knownetwork.io/
TWITTER : https://twitter.com/knownetwork_io
MEDIUM : https://medium.com/knownetwork
GITHUB : https://github.com/knownetwork
BITCOINTALK : https://bitcointalk.org/index.php?topic=4718904