Genesis Chain

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Genesis is approaching with Wisemont Capital

Recently, the representative team of Genesis had an in-depth exchangediscussion wiht Wisemont Capital to discuss the new commercial concept of “consumption is investment” and

Wisemont Capital believes that Genesis meets the real needs and pain points of the market, and provides a full range of technical supportstechnologies for a broader commercial ecosystem.

Wisemont Capital is rooted in the two innovation centers of Silicon Valley and Seattle and foused on the investment of first-tier enterprise projects in Silicon Valley. The investment fields include the Internet of Things, blockchain, artificial intelligence, B2B software, cloud technology, big data and etc.

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Genesis Blockchains Comic series — What is smart contract？

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Multicoin Capital actively interacts with Genesis

Recently, Multicoin Capital has been actively interacting with Genesis, Multicoin Capital express that they will choose a promising market before investing which regard as Genesis accurately meets their goals and is unique in the commercial field in the Public blockchains.

Founded in Austin, Texas in 2017, Multicoin Capital as one of the most successful investment institutions in the venture capital industry, foucus on investing in crpptocurrencies, blockchain tokens and early blockchain projects. The representative investment cases include Solana, Helium, The Graph and etc.

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Alpine Capital think Genesis as a visionary

Alpine Capital expressed its commitment to working with a visionary and outstanding team and think that once a product built by a first-class team like Genesis effectively fits the market, there will be a high growth trajectory.

It is reported that Alpine Capital is a Boston-based global private equity investment firm with offices in Boston, Beijin and Singapore which focusing on investing in high growth technology companies in emerging markets.

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Polygon Ventures may be interested in partnering with Genesis

Polygon Ventures, Ventures capital institution, intends to cooperate with Genesis and will provide Genesis with related financial and investment services.

Polygon Ventures think Web3.0 as the next generation of Internet is open and free and shows extremely interest in Web3.0 projects.

Genesis Public blockchains as the outstanding representative is providing a distribute underlying protocol for Web3.0 as support.

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Genesis Blockchains Comic series—Understanding of the Four Consensus Mechanisms

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Axis Ventures interacts closely with Genesis

Genesis, a decentralized commercial metaverse platform, has recently attracted Axis Ventures. Axis Ventures expressed its appreciation for Genesis’s business logic and consensus mechanism, and considered it as a new innovation in the crypto industry.

Axis Ventures, a venture capital focuses on early-stage technology companies in fintech such as Web3, Gaming and Metaverse. Its strategic partners include KuCoin, AC Capital,Pixelverse, Kommunitas, FantomFDN and etc.

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Genesis Blockchains Comic series  What is consensus mechanism

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Genesis Public Blockchain: Solidifying the Foundation for Web 3.0 Development

In 2022, Web 3.0 received an unprecedented wave of attention and discussion. Unlike Web 3.0, in the static Web 1.0 era, users saw what internet platforms offered. In Web 2.0, everyone is a creator, and the internet content shows booming development. Users contribute traffic and data to internet platforms, but most have little access to value distribution.

The vision of Web 3.0 is to return the ownership and corresponding value distribution rights of digital content to creators and to return data and assets to ordinary users with the support of decentralized technologies such as blockchain.

What is Web 3.0?

Web 3.0 usually is a name for all the internet features and websites that the information in it can directly interact with the relevant information of other websites. It can integrate and use the information of multiple websites simultaneously through the third-party information platform. Users own their data on the internet and can use it on different websites. Web 3.0 applications are on a blockchain and a distributed network of numerous peer-to-peer nodes (servers) or a mixture of both.

Elements of Web 3.0

Just as an industry thrives on infrastructure, so does Web 3.0. Now, the infrastructure public blockchain, DAO, and Token mechanism of Web 3.0 are preliminarily systematized, and the public blockchain, as a cornerstone, plays a significant role in Web 3.0.

Public Blockchain: The Foundation of Web 3.0

The giant Web 3.0 spin-off is based on the development of blockchain technology. The core features of blockchain are decentralization and security compared to traditional networks, and the same is true of Web 3.0. A blockchain is a chain of interconnected blocks, each of which holds a certain amount of information and is connected in the chronological order of its creation. Each block contains the Hash value of the previous one to ensure precise join.

As a “completely decentralized” blockchain, the public blockchain has the characteristics of neutrality, openness, and non-tampering. As a foundation for Web 3.0, it provides a solid underlying design for developing a decentralized application ecosystem, lowering the barriers to application development. The first generation of public blockchains led by Bitcoin pioneered blockchains, the second generation led by Ethereum ushered in the era of smart contracts, and the third generation led by Genesis opened the gap in decentralized commerce.

Genesis: Representative Public Blockchain of Web 3.0

The Genesis public blockchain represents the development of blockchain technology to phase 3.0. As a blockchain, its essence is still a distributed accounting system. But unlike other blockchains, Genesis not only has the full performance of blockchains 1.0 and 2.0, but its consensus mechanism is no longer built solely around data, computation, virtual tokens, and other virtual elements of the chain. It is an innovative consensus mechanism built around the commercial elements carried by the public chain to determine the DPoC (Delegated Proof of Consumption), which can practice decentralization fairness, safety, and efficiency to a greater extent in the bookkeeping mechanism and commercial ecology.

Genesis also integrates cross-chain Bridges, heterogeneous composite chains, algorithmic stable tokens, and other technical performance and indicators to meet the needs of large-scale commerce, thus realizing the deep integration of decentralized finance and decentralized commerce, providing the underlying architecture and solutions for Web 3.0.

In the open, privatized, user-built, and experience-oriented Web 3.0 era, Genesis public blockchain hopes to help Web 3.0 build a new decentralized, value co-creation, and contribution allocation network, providing a technical base for data integration, resource flow, and value sharing for the Web 3.0 digital economy. It will enable traditional industries to transform and upgrade, give birth to new industries and models, and put data sovereignty in the hands of users to open large-scale applications.

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Genesis and BlueRun Ventures plan for further discussion

The US represenptatives of Genesis have met the investment manager from BlueRun Ventures and conducted an in-depth discussion on the development prospects of the decentralized commerce.

Founded in Silicon Valley in 1998, BlueRun Ventures is an early stage venture capital firm, focuses on seed and series A investments in key markets with a specialized focus on mobile, fintech and real time data systems. Its overall management scale currently exceeds1 billion dollars, and the successful investments include: PayPal, Waze, Topsy, Chomp, Slide etc.

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Huobi Ventures is approaching Genesis Chain

Huobi Ventures showed great interest in Genesis Chain and recently in further contact with the representatives in Austin.

Huobi Ventures paid great attention to infrastructure projects. As the public blockchain in Decom, Genesis has done the excellent work filling the gap between blockchain technology and traditional business. Huobi seeks to support and nurture the development of core technologies in the blockchain industry.

Huobi Ventures is the global investment department of Huobi Group. It has four functions including strategic mergers and acquisitions,strategic investment,asset management and external cooperation, and manages multiple special funds.

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What is the essence of blockchain?

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Genesis Chain attended Consensus 2022 with famous crypto investors in US

Consensus 2022, the must-attend crypto&blockchain festival of the year was held in Austin, Texas, USA from June 9 to 12, 2022. Genesis Chain was invited to attend the conference as the representative of blockchain 3.0.

During the meeting, Genesis representatives had in-depth discussion with well-known crypto investors, members of DAO communities, and representitives of DEX , in the development of Genesis. Genesis DPoC consensus mechanism is highly regarded as a creative mechanism entering the DeCom world.

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Genesis Blockchains Comic series-Origin of the blockchain

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Genesis Chain is Attending Consensus 2022 by CoinDesk

Genesis Chain, the world's first blockchain dedicated to creating decentralized commerce (DeCom), will be attending this year's Consensus 2022 by CoinDesk, which will take place from June 9-12, 2022, in Austin, Texas.

This is the only festival covering all sides of blockchain, crypto, Web 3 and the metaverse. Hosted by CoinDesk, the most influential and trusted platform for the digital world, Consensus is the world's biggest and longest-running crypto festival. Consensus 2022 will draw thousands of attendees, speakers, and sponsors from across the globe.

As the representative of Blockchain 3.0, Genesis Chain has been invited to participate in this conference with great significance. Genesis team will meet core members of Binance, FTX, BitGo, 1inch and other projects, and take part in discussing how blockchains can be combined with Big Data, the Internet of Things and Artificial Intelligence to better build Decentralized Commerce.

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Genesis Accelerates Blockchain Industry Development

Blockchain provides a distributed, decentralized, transparent, traceable and tamper-evident architecture for recording transactions. Blockchain technology offers higher transaction accuracy and security than traditional databases, as well as the ability to conduct more efficient financial activities without the need for third-party intermediaries.

Despite the rapid development of the blockchain industry, it still faces many problems on how to land in the real economy.

Information Silo 

Nowadays, all major public blockchains have their own ecosystems, but the assets and data are not well connected, which is similar to the lack of traffic between well-developed cities, thus forming a state in which major cities are well-developed but isolated from each other, and the whole blockchain industry is currently composed of large and small information silos.

Just like in the real world, only open trade can usher in great economic prosperity, the future of blockchain must not be a world composed of different information silos, but a big network that can link all. And that is exactly where Genesis strives for.

Genesis is designed from the beginning to be compatible and carry other protocols as the primary consideration. Genesis is compatible with data transmission between crypto assets, smart contracts and blockchain under different standards through its self-developed cross-chain bridge. Chain-to-chain interactions can be securely implemented in blockchains with different protocols, rules and governance models.

Genesis is compatible with crypto assets and smart contracts running on any blockchain. For example, when the flow of assets on BTC or ETH is congested or smart contracts are running slowly, Genesis cross-chain bridge technology can help to achieve high-speed asset flow and smart contract operation. The infrastructure of Genesis can be linked to all blockchains.

Limited Performance Scalability

TPS (Transactions Per Second), which is the number of things processed per second, represents the number of transactions that can be processed per second by a public blockchain. The larger the TPS, the more technical transactions the system completes per second. Therefore, TPS is usually used as the evaluation of the processing capacity of the system per unit time.

Genesis has proposed its own solution - "Heterogeneous Composite Chain Architecture" - on how to improve TPS when facing large demand. When Genesis main chain is overloaded with assets in circulation or smart contract operations, it will replicate a side chain with the same performance and use cross-chain bridge to interact, thus enabling unlimited expansion of Genesis.

At the same time, Genesis is written by the most efficient Rust language, and the underlying design allows Genesis TPS to reach 5000, which is 300 times faster than ETH, the representative of blockchain 2.0 era, and Genesis does not only stop there, but with the development of ecosystem demand TPS can be expanded to tens of thousands of TPS later. Such a whole set of logic makes Genesis more convenient and efficient to use, and provides developers with a robust and secure system that can be rapidly iterated.

Ecosystem Development Issues

In the previous blockchain design process, the development team needs to design a blockchain application first, and this process alone requires not only a team with expertise in various fields such as cryptography, distributed systems, and consensus mechanism, but also a certain amount of time and cost to polish and develop, but the emergence of Genesis brings a revolution to the blockchain ecosystem.

The solid underlying foundation of Genensis well solves the problems of project upgrade due to market changes and product demands, and will not lead to weakness of underlying support due to the explosion of ecosystem. Deployment on Genesis not only significantly reduces the time cost of development, capital cost and the difficulty of R&D, but also makes the process of a project from 0 to 1 easier and highly visible.

In the fast-changing blockchain field, "interconnection", "velocity" and "stability" are very important for the development of the ecosystem, which is also a very important step for the whole ecosystem to flourish. The solid underlying foundation of Genensis solves many problems caused by asymmetric information, product demand and market changes, and brings a good method to accelerate the development of blockchain industry.

Genesis explores a feasible path for the integration of technology and business ecosystem on the basis of solving traditional problems, which will have a positive impact on the development of the global blockchain industry on the ground.

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Genesis Technology Features and Value

Genesis is high-performance, scalable, configurable and secure, designed to develop application-specific, scalable iterative decentralized applications and complex digital assets. In fact, Genesis develops and updates various smart contract-focused projects to accelerate the blockchain space through rapid implementation. Meanwhile, with a transaction throughput of 5,000 transactions per second (TPS), Genesis is one of the public blockchain platforms worldwide that can confirm transactions in less than a second.

DPoC Consensus Mechanism

Genesis considers the value of consumption contribution as a core resource to encourage eco-participants to maintain transaction activity and transaction security (transaction qualification and transaction after-sales guarantee), and rewards consumption contributors according to the DPoC (Delegated Proof of Consumption) consensus mechanism.

Any account can be rewarded for its contribution through ecological participation, and Genesis feeds back the computing power according to the consumption contribution, and the computing power holder can become a node to compete directly for the bookkeeping rights and get the block reward, or be attached to a node to compete for the bookkeeping rights and get the block reward.

Technical Architecture

The technical architecture of Genesis is mainly divided into 7 layers: application layer, contract layer, incentive layer, consensus layer, network layer, data layer, and encryption layer.

Application Layer: Supporting various business applications meet the needs of the pan-business ecosystem of Genesis.

Contract Layer: Mechanisms and rules for determining the operation of public blockchain through virtual machines, application engines, smart contracts, etc.

Incentive Layer: Eco-participants of Genesis are rewarded with corresponding mining, rewards, voting, community incentives, etc.

Consensus Layer: Transactions as well as contributions based on the pan-business ecosystem of Genesis are fed back as computing power, using the DPoC consensus mechanism.

Network Layer: A P2P network linking various sections of the Genesis pan-business ecosystem and ensuring the security of the network and its sub-networks.

Data Layer: Mainly used to store block data, including transaction data, block height, previous block hash, current block hash, and timestamp.

Encryption Layer: To make public blockchain achieve data security immutable and irreversible, encryption and signature technologies are used, including hash function, Merkle tree, asymmetric cryptography, etc.

Token Utility

GS is the value and equity token of Genesis ecosystem, which adopts "deflationary dynamic supply mechanism" to calculate token yield in real time by multiplying the floating factor based on the actual business demand model above the exponential decay baseline.

The use scenarios of GS in Genesis ecosystem are focused on four areas: business ecosyestem, tokenomics, asset trading, and DAOs, including margin pledge, consumption reward, token issuance, technology export, crypto trading, reward and punishment to network nodes, community voting and etc.

Application Value

Genesis is committed to building a decentralized commerce (DeCom) ecosystem, and is about to become an even greater windfall after decentralized finance (DeFi). Since then, blockchain will officially kick off the change of production relations, and the characteristics of this business form are: the combination of efficient commerce and trusted commerce.

In addition, Genesis will also be given full play in the fields of e-commerce industry, product traceability, supply chain finance, logistics system, IOT ecology, on-chain assets , data processing (TPS), as well as consumer entertainment and crypto trading. The basic functions such as payment, consumption, cryptocurrency, product anti-counterfeiting, and commodity confirmation are to be optimized.