[Information] Cardano (Cardano) Part 2, "Encryption currency treasury systems" Paper Profile

How many of you people know exactly what Cardano block chain?

Cardano Foundation provides you with a report, they published an article to help those who want to learn more about non-technical savvy Cardano investors.

I'm sure everyone here has heard of Cardano, it is one of the largest on the market encryption money, so I guess we are on the same page. But today, the question is, How many of you people know exactly what Cardano block chain? Cardano Foundation provides you with a report, they published an article to help help non-technical mastery of Cardano investors who want to learn more about the technology.

Cardano is committed to solve the problem on their block chain to help build more scalable block chain. To make it work, Cardano must become sustainable.

This helps ensure frequent financing, and to maintain the block chain decentralization. Most importantly, it needs to be able to solve the problems encountered in the conventional block chain.

Without using high-tech words to explain Cardano block chain is not easy, but a part of the ecosystem substantially, Cardano is managed by three groups. Its block chain is self-sufficient, to solve the many problems Ethernet Square, Ripple and EOS block chain that appears.

Last week, IOHK released a paper "money funds encryption system."

This is an introductory summary paper for beginners the basic concepts and ideas!

The basic idea of ​​Cardano financial system from the current block chain system, "the lack of safe and inclusive communities of long-term long-term financial sustainability." Are two main ways to raise money is the initial token issuance (ICO) and donations. Since these two methods lack of sustainability, so far it has not developed a long-term solution.

In addition, it is the decision-making process of the development of the distribution of funds, these methods there is a risk of centralization, which is considered to be inappropriate in the block chain technology of distributed architecture. In addition, as some of the early findings of the block chain project, divisions within the community project could lead to further problems.

Treasury system concept has been proposed to solve these problems.

"Funds Management System is a community-controlled, decentralized collaborative decision-making mechanisms, can provide sustainable funding base for the development and maintenance of chain blocks."

To date, a real system is an example of treasury Dash. The system still has some potential theoretical defects, such as:

it does not provide privacy to the voters vote

It can not effectively use the knowledge of experts in community decision-making process

Voting rules and the decision to allow only the master node to participate in the elections so that the proposal is not supported by the core team founder and difficult "unfair" to succeed

Therefore, in this article, IOHK team (Program in, Roman Oliynykov and Hamed Balogun) proposed the concept of flow democracy, in order to achieve better coordination of intelligence.

Some functions are as follows :

1. Democratic liquid (also known as representative democracy) is a direct mixture of democratic and representative democratic. It enables organizations to leverage the advantages of the voting process in the state treasury experts, and provide an opportunity for stakeholders to vote, thus providing advantages of both systems (thus eliminating their disadvantages). For each item, voters can vote directly, or you can delegate the right to vote in the respective areas of knowledgeable experts.

2. collaborative decision-making - is a core component of the treasury system, which allows members of the community can collectively draw some conclusions / decisions. Even if anyone can each vault to fund projects to submit proposals, but because of the shortage of available funds, can only support a few projects. Therefore, the need for a collaborative decision-making mechanism.

"This work aims to solve the problem of long-term financial sustainability of the development and maintenance of encryption currency by proposing a new financial system"

contribution of this work:

This work offers and recommendations;

1. Strict security model treasury voting block chain system based on democracy support flow / representatives to vote
in the general portfolio (UC) framework for the voting system modeling. By the function of F_VOTE ^ (t, k). This gives voters the right to vote can be delegated to experts, the project can also vote directly.

2. Effective treasury system designed
to collect funds in the following ways:

• (I) casting new coins
• (Ii) miners remuneration taxed
• (Iii) donations or charity.

Three eras:

• Voting ago period - to submit proposals, and to register voters and experts
• Voting age - Select Committee to vote, vote and generate keys. Voters
• After the vote era - the committee voted to calculate and decide to sign the treasury. Award-winning program will receive funding

In this system, the coin ownership and share ownership is different, and therefore the owner of the coin may be different from the owner of the coins shares. This allows the block chain-level delegate in equity without transfer of ownership of the token. This avoids the risk of losing control of the final token when the token owner of the shares entrusted to others.

The world's first honest verifier zero-knowledge proof

• This work presents a novel special honest verifier ZK proof / argument
  proposed financial system in a real environment and run the benchmark prototype implementation

• The main functions include the implementation of the proposals submitted to voters, experts, members of the voting committee and its corresponding lock deposit registration, randomly selected members of the committee vote in the electorate and so on.

• All agreements are fully implemented to the center, up to 50 percent of malicious or wrong participants.