SWTC (System Working Token China) Coin is the native digital asset of the SWTC public chain, issued and operated by the SWTC Foundation (Singapore). Its role is similar to BTC in the Bitcoin system or ETH in Ethereum, and it is the underlying fuel and universal token on the SWTC public chain. In addition to the consumption of transaction fees in the SWTC public chain system, the application scenarios of SWTC Coin include but are not limited to the following aspects: value-added services, incentives, credit pledges, and cross-chain and cross-token pricing units. At the same time, SWTC Coin can guarantee the stability and security of the system operation and increase the cost of malicious attacks.

Project design goals

The core of SWTC public chain technology is an application-oriented general blockchain platform. We hope to provide a stable and easy-to-use platform. Large enterprises, small and medium-sized enterprises, innovative teams and individual users can easily access and obtain the dividends brought by blockchain technology without knowing the implementation of blockchain. detail. Moreover, business users have the flexibility to choose whether to share their own users, so that each new application brings new customers, and new applications can also obtain a huge stock of users on the platform. The ecosystem constructed in this way realizes a virtuous circle in which I am for everyone and everyone is for me.

Project technical characteristics

Reliable performance
TPS: In order to implement the application of business scenarios, the TPS of the blockchain should meet a certain standard. Performance indicators have always been the advantage of centralized solutions, but the bottom layer of the blockchain can improve TPS through technological innovation without sacrificing "decentralization": the specific technologies involved include sharding, asynchronous processing of smart contracts, consensus algorithms choice etc.
Concurrency: In the available commercial scenarios, multiple users should be allowed to log in and use at the same time without performance delay.
The final confirmation of the transaction
In the business environment, the confirmation of each transaction can no longer be maliciously tampered with. Immutability is the advantage of the blockchain over centralized solutions. However, under the POW consensus algorithm, in order to achieve the purpose of immutability, a Bitcoin needs to be confirmed by six blocks before it can be finally confirmed, which means it can be confirmed after an hour. One transaction, which is unacceptable in most business scenarios. Therefore, the problem that commercial blockchains should solve is how long it takes to complete the final confirmation after a transaction is accepted by the consensus algorithm and written into the block.
KYC, supervision and privacy protection
Although Bitcoin appears as a completely anonymous face of "absolute decentralization", in the commercial environment, whether regulators, project operators or users Everyone hopes that their transactions are under the protection of laws and regulations. In this case, completing the corresponding KYC is an essential step, especially in the financial industry. On the other hand, a mature blockchain also needs to protect the privacy of users as much as possible, avoid traditional centralized evil, and make user data itself a controllable and cashable asset of the user itself. The design of commercial public chains should strike a balance between these two states.
Going one step further, a public chain is similar to an infrastructure. Operators of different application scenarios on it should be able to choose whether to share their user data with other application scenario operators when accessing, and in both cases can Obtain good services from the public chain.
Native support for digital asset issuance
We believe that digital assets will inevitably become the most revolutionary application scenario on the blockchain technology, and the incentive and punishment mechanism of the token will cooperate with the district Blockchain distributed technology and smart contracts will be able to reshape the production mode of human society. Therefore, the public chain's native support for digital asset issuance (referring to the underlying support, rather than through smart contracts, etc.) is an important feature that the public chain must have.
On the other hand, the risks of tokens will need to be managed through technology and operations, such as possible credit pledges, issuance review mechanisms, etc. With cross-chain function Based on the previous article, digital assets issued and traded on different blockchain platforms will require cross-platform transactions and settlements. Therefore, the cross-chain function supporting the bottom layer of the main blockchain will become the standard configuration of the underlying technology of the blockchain public chain in the near future.

Application scenario

Value-added services
All kinds of services provided through the SWTC public chain can be earned by charging SWTC;
Incentives
Application scenarios and operational projects on the SWTC public chain can provide SWTC incentives to mobilize community resources to obtain corresponding services;
Credit Pledge
All kinds of transactions that occur on the SWTC public chain In behavior, SWTC can be used as a means of credit pledge, and through business logic design, it is guaranteed that multiple parties involved in breach of contract and dishonesty will be punished by pledge, thereby promoting the SWTC public chain community to become a credible environment for good coins to drive out bad coins;
Cross-chain and cross-chain Token denomination unit
As a communication equivalent between multiple sub-chains on the SWTC public chain or different tokens in different application scenarios, when value exchanges occur between different sub-chains and different application scenarios, SWTC can be in The background provides settlement services.