#genesisblockchain

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 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.