OF, Order & Freedom, we believe that blockchain technology is a philosophy about order and freedom. Ofcoin, Chinese name Fubi, is a token designed by the community foundation for the global community ecological chain. With the popularization of mobile Internet, social network and Internet of Things, the form of social collaboration is evolving from a static centralized organization to a dynamic multi-centered self-organizing community, and from a human-human social network to a complex human-machine hybrid collaborative network , which is particularly evident in the blockchain world. We believe that: 1. Community consensus is the basis of credible collaboration; 2. A good incentive mechanism is the guarantee for the survival of the community. Mobile phone "mining" is the abbreviation of the innovative algorithm practiced by the community chain. Through a systematic algorithm design, the community chain organically combines user trust, reward mechanism and community consensus, and regards each community and application as A "mining pool", users are analogous to "miners", the user's contribution to the community is the contribution to the system (mining), so as to get token rewards. In this way, the entire ecology can grow and evolve by itself, and continue to operate in a socialized way. The community chain will open a new era of human community collaboration!

Project role

Infrastructure support
OF infrastructure provides users with a safe and complete virtual asset circulation environment. If we say that in the world of Bitcoin and Ethereum, users will Worried about the theft and loss of your private key, you will worry that your rights and interests will not be protected when you participate in smart contracts. In OFBANK, these worries will be greatly reduced. Even if the private key is stolen, the thief can easily trace it, and even if it is lost, it can be retrieved. Smart contracts are approved and supervised by the regulators you trust. In this way, users can manage virtual assets with confidence, and the virtual world will be more prosperous.
ofcoin's mobile phone mining algorithm
OFBANK uses the COW algorithm to generate a unified virtual currency ofcoin, which supports mobile phone mining. Users with more ofcoin can create third-party applications and distribute part of the mining income to users of their own applications, and the other part as their own income, and our own applications will do the same . In addition, we will allocate a certain amount of ofcoin to the excellent third-party applications that are accessed. If other ofcoin holders are optimistic about these applications, they can invest in ofcoin and enjoy the benefits of these applications. In this way, people in the entire OFBANK world will maintain the stable operation of the system, which is very similar to the capital market in the real world. Capital obtains more capital through operations and also pays employees' salaries.
Today, people's lives rely heavily on mobile phones. The redundant computing power and network bandwidth of mobile phones can support users to mine while using mobile phones. In the OF system, users can earn ofcoin anytime and anywhere through mobile phone mining, and exchange various assets through ofcoin, so that social resources are better utilized, and the benefits of OFAPPs users are greatly increased.
User private key storage
It has always been a difficult problem to store the private key of the user wallet of the cryptocurrency, and the loss of the private key often occurs. OFBANK provides users with flexible A reliable private key storage solution ensures the safe generation, safe storage and safe use of private keys.
The first solution is purely for the user to save the private key. In this case, the public-private key pair is generated by the user. It is best to operate offline in a trusted environment to ensure that the private key is generated. safety. After generation, it is saved offline, signed offline, and the data of all devices that will be online in the future is eliminated. This is the most beneficial way to realize the extremely high security of the cold wallet.
The second way is that the user, OFBANK and several third-party key escrow agencies jointly manage the private key. This way and the next way are the server generates a public-private key pair, the server generates a private key through a trusted environment, saves the private key through HSM hardware encryption technology, and the client saves the private key through a trusted computing chip. key. Through secret sharing technology or multi-signature technology, users can participate in multi-signature or private key assembly in daily life, and if the user's private key is lost, the user can regenerate the private key through a strict verification process.
The third way is to host the private key purely online. First bind the user device, and then verify the user's identity through traditional verification technologies such as fingerprints and security codes.

Application scenario

Games and gamified social interaction
We believe that the output of virtual world activities such as games is suitable as a distribution measure for cryptographic virtual currency. power, which is more interesting and meaningful. At the same time, the way of selling props in traditional online games makes it difficult to keep the economic system of the game in balance. The labor of players in the virtual world is not recognized by the society. We hope to change this situation.
Virtual World Games
We created an open virtual world with UE4 engine. The time and energy invested by the player, and the achievements obtained in the game will be measured and priced, and the output of the player in the game can be exchanged with OFCOIN.
Celebrity Community Incentives
Treating celebrity fans as a community, we will use gamification and social rankings to quantify the community contributions of celebrity fans and reward them with digital currency.
Asset right confirmation and transparent circulation
OFBANK's smart contract not only has the "untamperable" attribute of the traditional blockchain, but also because of the problem of the background real-name community landing, it can be applied Determination and circulation of assets. And some special industries, such as foundations, auction houses, charity fundraising, resource allocation and other scenarios can also be used.
The public welfare foundation uses OFBANK's smart contract. From initiation, donation to distribution, the source and source of each sum will be strictly managed and recorded, and each expenditure will be strictly executed in accordance with the terms stipulated in the smart contract. This makes the management of public welfare funds safer, simpler, and more transparent. If there are violations in the distribution process, the flow of funds used in violation of regulations and related persons can be traced, which solves the public's trust in the distribution of public welfare funds question.
Exchange between other digital assets and OFCOIN
OFBANK is not a "commercial bank", but a settlement system that can be used to settle those valuable but inconvenient Assets that are priced or inconvenient to settle in currency usually appear in the form of rewards or incentives, and traditional verification of the owners of these assets online is relatively time-consuming. In the OFBNANK system, we use the globally issued digital currency OFCOIN as a carrier to circulate these assets, and use a privacy-protected account system to verify asset owners. We use the following examples to illustrate its application scenarios:
The value flow of island rewards
Take points as an example. If it is OFCOIN, the convenience will be greatly improved for users. On the surface, it seems that the users of mall A may be lost to mall B, but the users of mall B may also flow to users of A. This accelerated flow of users will promote the mall to develop more features , to better serve the diverse needs of users. And those shopping malls that are unwilling to participate in this kind of circulation competition will be eliminated soon, which is also the law of "island extinction" often said in sociology.
In the traditional transaction mode, the rights and interests of users are difficult to exchange, which often results in the waste of social resources, which is a great loss for merchants and users. OFBANK is an open settlement platform, whether it is money in various membership cards, consumption times, membership rights, or hotels, shopping malls, supermarkets, e-commerce, websites, forums, airlines, credit card points, APP points etc. can be settled with OFCOIN. The most important thing is that OFBANK can verify the account natively, so that the user does not have to go to the offline physical store to verify the identity, and does not need to prove his identity again to the third-party application party, directly and simply submit With the account inquiry permission, the third party can remotely verify the account and carry out intercommunication settlement.
Assume that Mrs. A will be transferred from Shanghai to Beijing for one year due to work needs. Mrs. A's absence continues to cause the store to lose loyal users and potential consumers of other products, and both parties suffer losses. In the traditional blockchain system, users need to verify their identity offline or online to a third party, but in the OFBANK system, Mrs. A can directly submit the account query permission to the beauty salon, and the beauty salon will automatically verify her identity. share, record its account address, convert its points into OFCOIN and send it to the corresponding
account address, the store’s beauty benefits are also purchased by Mrs. B with OFCOIN, and both Mrs. A and Mrs. B can continue to enjoy the benefits brought by the benefits A wonderful experience, and the beauty salon has also developed new users. This is a process in which private value is transformed into public value, and then public value is transformed into private value. This process will revitalize a large number of abandoned fitness cards, housekeeping cards, laundry cards, various supermarkets, forums, e-commerce points and discounts and other user rights to complete the redistribution of resources.
Merchants that are more open, fair, and actively participating in competition are more likely to iteratively upgrade. Those merchants in the traditional Internet era have the opportunity to take the lead in evolving with the new model of the blockchain era.
The value annihilation caused by the extinction of the subject
Also take the mall as an example, assuming that A mall closed for some reason, then in the past model, the points of users in A mall will not be able to be used in malls other than A mall. Use, the user's points will be annihilated with the closure of the A mall, which is unfair to the user. So when there is a unified digital currency ofcoin to replace points, this kind of reward for users will still be valid.
A large number of fragmented irreversible or inconvenient transactions priced in legal currency
In real life, there are a large number of irreversible transactions, either in the awareness or payment of most users In my habit, I would be unwilling to pay currency for some intangible, professional experience type, such as asking a lawyer "friend" a question, such as asking someone to help introduce a friend of his, such help, from In terms of economic behavior, it is also a transaction. However, if this kind of "transaction" pays legal currency in real life, it will bring a certain amount of social pressure to one or both parties, and it is often difficult to pricing. If you use blockchain-based ofcoin to reward the other party at this time, it will be fashionable and will not bring embarrassment and pressure to the other party.
The above examples describe the blockage of reward value flow in real life and the losses caused to users. We believe that the positive contribution of users is a contribution to market circulation. This contribution will be reflected in different ways in different application environments, whether it is points, game props, leaderboards, or In other words, it is a compliment and praise. These things have inspired and accelerated the flow of society. Today, the wave of digitalization, mobility and globalization has leveled society. We have the opportunity to use these values ​​to flow in the form of digital assets. At the same time, we hope that users will devote their time and energy to beautiful things, instead of proving their identities in every little thing.
We think that these extra rewards and incentives, including the services we provide, are the little bits of happiness that people feel. Therefore, we gave of a Chinese name "Fu", and ofcoin is called " "Fu Coin", "Fu Coin" is the source of joy and happiness, and where the Fu Coin flows, it will bring a little happiness to people. This is also the profound blessing of Chinese culture for world peace.
Other third-party applications OFAPPs
OFBANK will open source code, develop interactive interfaces, and give guidance to application developers to help them develop third-party applications in OFBANK program. The exchange of digital assets issued by community applications and ofcoin follows market fluctuations, which is consistent with Ethereum.
Applications released on OFBANK will be reviewed, managed and protected by regulators. If any event is found to infringe on the rights and interests of developers and users of third-party applications, OFBANK will assist regulators to use real-name accounts Ledger system, trace and protect the due rights and interests of users.
We will allocate a certain amount ofcoin to excellent third-party applications to help them grow. All third-party applications can participate in POT mining through the account balance ofcoin to obtain income, and reward themselves with the income users.
We believe that the majority of third-party application developers will work with their users to maintain the ecological environment of the OF system, promote the healthy development of OFBANK, and grow together with OFBANK.

*The above content is organized by YouToCoin official. If reprinted, please indicate the source.