Preface:Under the substantial supports from the Blockchain Foundation in Wall Street, ETTK will be one of the most practical blockchain financial platforms in the world. ETTK serves the global blockchain financial market based on cryptocurrency cross-chain transaction, blockchain financial transaction solutions, and quantity-level smart contract transaction. The USD 30 million ETTK Token will be available for free within limited time starting from 20:00 UTC time on January 1, 2021 to greet ETTK -- a one-stop world blockchain financial platform that will soon be launched on the main network.(https://ettk.io/)
science and technology are significantly changing the nature of finance in the world of tomorrow, whice is not only a cyclical change, but also a random historical collision and disruptive innovation.
The rise of blockchain led to drastic change of financial industry. As a new application mode simultaneously functioning distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies, blockchain derived many digital assets and drove the development of the whole digital economy. It also has immense potential in international exchange, letter of credit, equity registration and stock exchange and other financial fields.
But people happened to find that there are new problems to be solved when the development of blockchain technology has fully penetrated into the financial field. Given that the current blockchain technology is developing rapidly, commoners are discussing and prepared to get involved, we are seeing a large number of token tokens currently. Cryptocurrencies are disconnected from each other and it is extremely inconvenient for them to circulate with each other, and the asset value fluctuates greatly, which restricted its development. Also, these factors make it harder to manage digital assets, thus users need to log into various exchanges to exchange cryptocurrency.
There are foreign exchange transfer stations among countries. But it is extremely hard to effectively trade and convert values for the thousands of cryptocurrencies with different uses. In this regard, the encrypted digital world features "many and useless", and "mutual disidentification", which has caused quite serious hindrance to the development of digital economy and digital finance. Cryptocurrencies on different chains are islands, thus maintaining a certain vitality only within their own communities. This constrained the development of the cryptocurrency world. With the development of blockchain finance, the cross-chains appear accordingly as more and more attention is paid to the exchange of data and value between chains.
In recent years, blockchain technology has made great progress in its relevant intelligent technology field. Also, blockchain introduced intense vitality and produced unprecedented imagination space for the development of the technology applied society. In the trend of "deep exploration of blockchain technology application", ETTK is ranged against the forefront of the time and the industry with its profound technical accumulation and talent reserve. ETTK is a kind of one-stop global blockchain finance platform based on blockchain underlying technology, intelligent contract and multi-dimensional cross-chain technology. Launched by the Blockchain Lab Foundation for New Eco-Finance located in The Wall Street district of New York, ETTK is to lead the global monetary markets and create a super application channel of cryptocurrency along the chain!
ETTK takes every effort to establish a multi-functional financial investment platform that includes blockchain applications, project incubation, investment, financial management, digital asset exchange, information and payment integration. In this way, it can help more digital asset investors to grasp the future global blockchain technology trends. Also, ETTK is going to develop more commercial and civil fields in the form of decentralised, multilateral encryption and highly consentral financial applications, thus enhancing the value and future potential of cryptocurrencies in digital economy.
Financial application of ETTK blockchain
（I）is a financial transaction solution based on blockchain
Blockchain finance is exactly the application of block chain technology in the financial field. Blockchain is underlying technology. In essence, blockchain is a kind of decentralized trust mechanism. It can achieve information security and accuracy by sharing in distributed nodes to collectively maintain a sustainable growth of database. The blockchain features distributed storage technology and data non-tampering, which is highly consistent with the requirements of information and data security and transaction data protection in the financial sector. In this regard, the major influences of blockchain technology on the financial sector include:
01 Enhance information accumulation
Before the emergency of blockchain technology, both domestic and foreign transactions needed to depend on intermediary institutions to complete the specific clearing among transaction main bodies. However, in the blockchain system, each block carries information about the previous transaction and is shared along the chain, which sharply reduced the complex flow process in a traditional transaction. In this way, blockchain technology provide technical support for the traditional banking industry to improve its own business model. In addition, blockchain solutions eliminated the need for an intermediary bank in cross-border payments.
02 Enhance efficiency of financial services
Financial service sector is an important driving force of global economic development and one of the most centralized industries. Traditional financial service model has the problems of low information transmission efficiency and relatively high financial service cost. Blockchain technology has a lot of attributes, from distributed storage, non - tampering, to timestamp validation, which are useful to help financial institutions to optimize the financial infrastructure, reduce the degree of information asymmetry, and enhance the efficiency of financial services and reduce costs.
03 Strengthen data security and protection
In financial service, financial institutions have no alternative but to spend a lot of manpower and financial resources to maintain the connection between information flow and capital flow. But they still cannot maintain the transaction balance between the transaction main bodies. Blockchain technology can be used to achieve direct transactions without the involvement of a third party intermediary. To be specific, traceability can be accomplished through different blocks on the chain. The circulation of funds through each link and each person invloved will be recorded in real time. Therefore, the distributed bookkeeping and non-tampering of block chain technology can strengthen data security and prevent financial risks at the same time.
As mentioned above, risks such as high commission fee, long settlement cycle, slow arrival speed and frozen fund transfer limit (quota) are frequently seen in traditional financial transactions, which tend to cause unnecessary loss to user management for enterprises. It is hard for us to make substantial breakthrough in financial transactions in traditional financial system. Nonetheless, ETTK, a one-stop financial platform based on blockchain technology, is able to provide frictionless, low-cost, real-time and efficient decentralized smart contract transaction network. It has been proven to be an effective tool for solving financial transaction risks and reducing financial transaction costs.
（II）Decentralized and encrypted online shopping mall
For the sake of self-interest, traditional centralized online shopping mall is prone to various problems, such as overcharging frequent customers by big data, fake and inferior, credit speculation, constomer's information disclosure. These problems have been plaguing consumers, and reducing their online shopping experience significantly. The development of E-commerce has always been based on the "disintermediary" of the Internet. In other words, this kind of "disintermediary" is publicity of the price advantage of E-commerce industry. Originally, when I bought something in the physical store, I went through the link of intermediary layer by layer, and those middlemen need to add money. In this regard, the price of the product I bought in the physical store has increased the price difference of many intermediate links in addition to the cost. However, based on E-commerce, we can buy any product directly from the manufacturer, thus reduced intermediate link, and a lot of cost resultingly, so the price is naturally the lowest.
Notwithstanding, a professional in the retail industry must be aware that, for the consumers of the enterprise website system, the most important advantage of e-commerce should be to increase the richness and convenience of shopping rather than low price, both in theory and in reality in other developed countries. In this regard, it is beyond understanding that so many consumers believe that E-commerce prices should be lower than in physical stores. In fact, this perception benefit by a channel myth that has been common throughout history -- "disintermediary."However, this disintermediary of the Internet is not a radical disintermediary. The "disintermediary" of the Internet will make centralization worse. The current monopoly of e-commerce giants and the decline of offline entities are because of the existence of this "centralization". In the context of global antitrust and anti-monopoly policies and immense development of blockchain, the E-commerce able to bring balanced benefits to mankind in the future must be a decentralized one.
ETTK has established a decentralized blockchain encrypted online shopping mall based on the basic applications, such as decentralization, cryptographic consensus, intelligent contracts, and distributed networks of blockchain technology. This new kind of online shopping mall enjoys a freer, faster, more private and more secure blockchain shopping decentralized transaction open-source system. Also, it supports payment application scenarios of multiple cryptocurrencies, interactive operations of different wallet applications and transaction combinations of multiple cryptocurrency exchanges.
(III)Global decentralized financial application system
With the fast development of ETTK, there will be hundreds of millions of people using ETTK for financial cross-chain transactions in the globe. These users may come from all over the world, have different cultural backgrounds and use different legal tenders. In order for all users to participate, ETTK took the lead in providing a decentralized system combining traditional finance with blockchain finance. Based on this system, Ettk Token can be used by anyone to exchange different global fiat currencies. The system will also provide more convenient services for users who need foreign exchange transactions and cross-border remittances.
Regardles of the type of legal tender we use, anyone can use ETTK's distributed foreign exchange transactions system to become a decentralized acceptance trader.Acceptance trader cna pledge monetary assets to the ETTK foreign exchange system for access, exchange, and legal tender against the underlying digital assets, such as the stable currency USDTThe exchange rate between these digital assets and the corresponding legal tender is subject to the current market price. For instance, users are at the liberty to use USDT to purchase monetary assets priced in real-time fiat money on the ETTK and withdraw USDT's deposit at any time. This provides access to the flow of capital, all of which is done anonymously and in an encrypted manner.
(IV)ETTK provides quantitative contract transaction
The quantitative transaction contract of ETTKis one of the smart contracts. This kind of contract was designed to make it possible to trade on the spot market under high leverage conditions. The contract is fully decentralized and may be operated through various mechanisms closely following the reference to the current market price index. ETTK quantitative contract transaction has the following functions:
①Spot market transaction of cryptocurrency
The spot market contract of ETTK is similar to the many-to-many spot cryptocurrency market. Thus, its transaction price is similar to the current price of the underlying reference index. In spot transaction market of ETTK, users may exchange and settle various cryptocurrencies on the DAPP Wallet app based on smart contracts. To be specific, mainstream cryptocurrencies such as BTC and ETH can be deposited into the intelligent contract address of ETTK, and then exchanged for other cryptocurrencies equivalent to the market at an instant. In such a decentralized wallet, the transaction function of cryptocurrencies on the centralized platform can be realized and all kinds of transaction risks brought by centralized platform can be avoided. Thus, fees and related fees can also be reduced through quantitative transactions in cryptocurrencies.
②Quantitative transaction of cryptocurrency
ETTK is the world's leading blockchain financial application research service provider. Also, ETTK enjoys many years of EXPERIENCE in Dapp development, and has a leading level of quantitative transaction contract execution system, and thus being able to provide a comprehensive, secure, fully encrypted and anonymous solution for the construction of a quantitative transaction platform that encrypts digital assets.ETTK can be used as a fee quantification token for cryptocurrency exchange transactions, and fees incurred by users during the transaction process can be covered by ETTK. So that the transaction quantified value can be realized, and cryptocurrency exchange transactions can go without any cost.
ETTK makes use of blockchain + big data technology to select multiple "high probability" events that is able to bring excess returns from the huge block chain financial transaction data to formulate investment strategies, which substantially reduced the impact of the emotional fluctuations of users' investment. In this way, users can make the most rational investment decisions in the case of extreme market enthusiasm or pessimism.
③Improved and impeccable smart contract transaction
The construction of ETTK's comprehensive financial service platform based on big data can provide a full range of application functions. Also, the decentralized wallet of ETTK offers contract transaction, including leveraged transaction, smart matchmaking transaction and quantitative transaction. The contractual transactions made by users on the DAPP Wallet are only subject to the market behavior dominated by all users. In other words, cryptocurrency prices are based on market consensus, with no monopolistic price controls, and this completely avoiding the traditional centralized exchange of price manipulation, malicious warehouse zeroing (security deposit zeroing due to a fund shortage), misappropriation of funds and other market misconducts.
(V)Direct cross - chain transactions of cryptocurrency
ETTK provides users with a decentralized transaction mode that can quickly realize cross-chain transactions and direct exchange of assets on the chain without the participation of a third party.Capital security and service availability of a user might be completely independent of the centralized platform.The main applications include:
first, two-way transactions among digital assets. Two-way transaction model is a one-to-one cross-chain transaction without a need of the involvement of a third party.
Secondly, multi-signature smart contract transactions initiated between unique logic chains based on ETTK blockchain are also one-to-one cross-chain transactions without the involvement of a third party.
General cryptocurrency transactions need to be conducted in an exchange. However, due to the impact of market dynamic prices, it is prone to asset impairment due to untimely response. In this regard, ETTK has developed two digital asset transaction mechanisms on the decentralized wallet application, which are used to preserve and increase the value of users' encrypted assets, and thus formed a disaster avoidance mechanism indirectly. This kind of transaction mechanism makes it possible to exchange assets on the chain, which achieved a complete decentralization, and only depended on the exchange of different assets on the blockchain.
Cross-chain transaction is an important development trend of blockchain digital currency in the future. Among many problems with respect to the blockchain, the intercommunity among blockchains significantly restricts the application space of the blockchain.For both public chain or private chain, cross-chain technology is the key to realize the value of the Internet, as it is the effective medicine that saves the blockchain from isolated islands, and it is also the bridge that the blockchain can extend outwards and connect.
Advantages for the development of ETTK
Blockchain +AI application: AI and blockchain are the most important technologies in the future development of mankind. AI changed productivity, and blockchain changed productive relations. ETTK is based on the blockchain +AI contract technology dedicated to creating a new financial ecological platform by using the blockchain technology. ETTK enables the chain exploration and fully decentralized application functions to improve the user experience.
Three-engine guarantee:ETTK is supported by the latest powerful three-engine guarantee to realize the decentralized digital asset transaction system and integrate the advantages of distributed trading system and centralized trading system, thus providing users with a perfect digital transaction experience.
Multi-ecosystem synthesis:ETTK makes use of advanced smart contract distributed cluster architecture and microservice development mode. At the very beginning of ETTK's launch, a combination of smart matching system, security and risk control system, C2C cash flow system, multi-chain wallet system and chain customer service system has been designed. ETTK will also launch a more comprehensive and in-depth trading function system, futures contract system and decentralized trading system in the future.
Quantitative support of smart contract: ETTK supports smart contract for many cryptocurrencies, from BTC, ETH, XRP, to TRX. They have advanced security level algorithms for entry and automatic exchange as well as other professional transaction orders, which provide professional quantitative supports for institutional and individual investors.
High-standard and strict risk control: ETTK enjoys more than 100 smart contract security and risk control measures.ETTK can achieve high efficiency and security over established financial security standards with the supports of strict standards and a multiple risk control system.
Digital asset investment and financing channels providing: ETTK is going to improve the level of professional investment in the existing digital commodity markets a great deal. Investors' investment risk will be reduced to the minimum level in the presence of a lot of financial products and smart financial community services based on smart contracts. Digital assets around the globe will enjoy better channels to invest, distribute and apply through ETTK investment and financing channels.
Future main network core technology of ETTK:
The validity of the latest data can be verified around the non-tampering of the data exchange among the nodes. The generated history cannot be tampered with and synchronized in real time among the data;Main network will be subject to the principle that the minority obeying the majority. The data maintained by the overall node can objectively reflect the exchange history.
The main ETTK network makes use of the bottom module point-to-point network protocol module of blockchain. It is responsible for the network transmission and broadcasting of transaction data, node interaction and maintenance. The first connection to the node is required to verify and confirm the status according to the basic protocol specified by ETTK, and request the address data and block data of the Peer node to the main network.
Based on distributed consistency algorithm in economics, ETTK will set a mathematical problem of a certain difficulty, whoever solves it quickly will get the bookkeeping currency right. This process often turns into a computational problem. Thus, in the case of speed competition, it becomes a question of whose calculation method is better, and whose device performance is better.
As for encryption multi-signature algorithm, HASH algorithm is most used in smart contract in the field of blockchain.HASH algorithm features strong collision resistance, irreversibility, etc. ETTK uses this method to develop the in-depth development of mining algorithm.
As for the account and transaction model, ETTK took into account the fact that BerkelyDB, LevelDB and SQLite of NoSQL are the underlying storage facilities at the beginning of its design, and most of them are lightweight embedded databases. Given that it does not involve blockchain ledger properties, these storage technologies are no different from those used in other occasions.
Future vision of ETTK
ETTK is the representative application that Wall Street Blockchain Foundation focuses. ETTK is not only a one-stop world blockchain financial platform, but also a super cross-chain application channel and multi-functional application carrier of cryptocurrency.We will see that there will be countless users would make all kinds of transactions and applications in decentralized financial system, decentralized encrypted mall, digital asset cross-chain trading channel, global decentralized financial application system in a multi-system and so on initiated by ETTK in the future. ETTK combines the powerful advantages of decentralised finance by breaking away from the shackle of traditional centralised exchanges. In this way, it broke through national boundaries and currency barriers. In the financial form in the future world, ETTK will be the most open and greatest blockchain financial complex all over the world. Also, ETTK will serve financial institutions and thousands of digital economy builders in more than 200 countries in the future.
Country: United States