VTChain is a distributed, production-level open ecosystem for building enterprise-level blockchain applications. It is committed to promoting the close connection between blockchain technology and enterprise-level product applications, making full use of the advantages of blockchain technology, The application system practices the increasingly obvious cost and security issues of the centralized system. BVT is an Ethereum-based token that can be used as an incentive mechanism for network development.

Nature of project

The project is a public welfare project, aiming to promote the development and improvement of blockchain 3.0 application technology at home and abroad. The VTChain Foundation is a public welfare organization responsible for promoting and managing the development and operation of the VTChain project.
VTChain will choose a mature time to open source all projects.
VTChain is based on the open source technology framework of blockchain such as Bitcoin, Ethereum, Neo, Hyperledger, etc., and innovatively proposes the blockchain application technology of software as a service (Software as a Service, referred to as SAAS) to promote the rapid development of blockchain technology. Construct commercial-level application products, fully absorb and learn from the basic components of Bitcoin, Ethereum, Neo, and Hyperledger blockchain technology, making it more suitable for enterprises, developers, and end users, especially the development and development of application-level products in China. practice.
At the same time, drawing on the technical framework design ideas of Bitcoin, Neo, Ethereum and Hyperledger, VTChain adopts a pluggable, loosely coupled modular design, which is suitable for developers of different levels in general, junior, middle and senior levels to build commercial-level large-scale applications product. It is used to build business-supporting industry applications and platforms to support various business application scenarios.

Project goals

Since the birth of the blockchain, "letting everyone participate in the use of the blockchain and enjoy the development of the blockchain" has become the common vision of the VTChain community. Therefore, the design goal of the VTChain project is to reconstruct the blockchain The underlying architecture is driven by commercial-level application requirements, designed for all B2B and B2C applications, and provides a localized, friendly interface, and multi-language IDE development environment.

Application scenario

P2P online loan aggregation platform based on VTChain technology
Judging from the current technology application and industry status, the commercial value of blockchain technology in the financial field is the most clearly visible. We will first talk about how to implement the P2P online loan aggregation platform BCLP system (Block Chain Lending Platform, hereinafter referred to as BCLP system) based on the VTChain application platform. The BCLP system is a digital asset management system that uses blockchain technology and big data technology to realize P2P online lending, credit sharing, information aggregation, and intelligent evaluation.
The online loan aggregation platform using blockchain technology has the following characteristics:
1. Identity consensus mechanism: BCLP system requires participants to have clear and reliable identity data, and participants include borrower users and lender users. The data can be newly created in the BCLP data block, or can be pulled from the existing application system (Pull). The BCLP system provides a unified API interface and tools to connect with the existing application system.
2. Information Aggregation Mechanism: The lending system requires sufficient and reliable information on the borrower's credit, the lender's loan amount, etc., and is inoperable and tamper-proof. The BCLP system integrates personal credit, lender's loan mechanism ( Including quota, interest rate, etc.) information is stored in the distributed data nodes, and the BCLP control list (automatically controlled by the consensus mechanism) is not allowed to be modified without authorization. Therefore, the relevant information of the BCLP system can be considered reasonable and valid. At the same time, BCLP provides the necessary services for both borrowers and lenders through pluggable smart contract logic.
3. Big data analysis strategy: The BCLP system will connect with third-party cooperative credit platforms to collect a large amount of original data, use big data analysis strategies and distributed computing methods to intelligently evaluate the borrower's loan amount, and provide the best loan through the price comparison mechanism plan.

Auto auction platform based on VTChain blockchain technology
In Hyperlydger's official information, the automobile auction platform based on blockchain technology is a classic application solution, because VTChain also Take it as a case so that everyone can better understand the characteristics of VTChain's enterprise-level applications.
In the auto auction platform, there are three elements that constitute a transaction: participants, assets and affairs. Participants include all stakeholders in the auction business, including car owners, buyers, platform managers, etc. Assets here mainly refer to the digital equivalent subject matter converted from cars, and transactions refer to transaction events such as inquiries, auctions, and management generated by both parties.
The platform manager first registers data such as participants and assets in the registration agency (blockchain consensus nodes provide registration services), and stores them in the data nodes, and reaches a consensus state in all system clients through the consensus mechanism. This state includes Party data, asset data, auction status (auction in progress, completed, voided, etc.). After the auction starts, the participants initiate identity verification to the consensus node, obtain their granted authority (managed by the control center), and obtain the authorized CA certificate. The smart contract collects its bidding data and judges whether the auction is over at any time. The auction end condition is the end of the auction time or the highest first price, and the system will automatically end.
In this system, all participants and motor vehicles use their own unified encoding methods to obtain unique identifiers, which are used as tokens in the auction system, and are collected and verified by registration agencies and consensus mechanisms.

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