Technically, EcoVerse™ operates a two-coin system with ECX and ECR, both with different characteristics and functions. These two coins are designed to meet conflicting requirements, such as the need for anonymity and veronimity, and the need to minimize or maximize price volatility, depending on the application. The first, ECX, which is commonly referred to as a stable coin, is designed to perform as a payment function in everyday life. ECX ensures complete anonymity using a zero-knowledge proof method to ensure privacy in everyday use. In addition, we set a goal to reduce the TFT (Transaction Finalization Time) to 2 seconds in order to facilitate the use of ECX as a means of payment in everyday life. To achieve this, we want to apply a variety of technologies, including the sharding and the Raiden Network techniques. Our second coin, ECR, is the utility coin to provide visibility through user verification such as KYC, AML etc. established by the International Covenant.
Economically, the consensus algorithms currently used by the majority of blockchain networks are heavily weighted by wealth. Based on the Gini Coefficient, which indicates the degree of distribution inequality, it's very close to Total Inequality. For example, Bitcoin and Etherium have a Gini coefficient of 0.99. It is estimated that recent platforms, such as EOS, will exhibit a more severe level of inequality, rather than easing the weight of wealth. This bias significantly reduces the influx of new participants and ultimately drives the destruction of the platform’s ecosystem. EcoVerse™ has recognized this inequality of wealth as a very serious problem and has designed a new method of consensus algorithm called AI-DPoC (Artificial Intelligence-supported Delegated Proof of Contribution). This can solve the problem of wealth imbalances arising from traditional algorithms and the challenge of new participants' willingness to participate.
Philosophically and socio-psychologically, EcoVerse™ pursues an Ubuntu Economy. The Ubuntu philosophy, deriving from Bantu languages in South Africa, focuses on relationships and dedication among people. So with the vision of an Ubuntu Economy, the EcoVerse™ philosophies are concepts of empathy and of establishing the community for the greater good of society beyond the economic and financial gains that our platform offers.
In the business perspective, traditional decentralized applications (dApps, hereunder) had to find their own way to survive. The EcoVerse™ platform, however, has a system that supports the entire process from idea discovery to start-up, making it easy to get through the lonely and difficult ‘death valley’. It also enables dApps to easily link to each other, creating new services. Through this we will maximize the synergy and impact of the dApps.