THE VTBCOMMUNITY FOUNDATION

About Us

The Foundation designed this project to bring stable value-added assets to people, businesses, and merchants alike at the lowest possible risk while reducing the impact of an increasing cost of living.

40 Million

TOTAL SUPPLY

18-Decimal

TOKENOMICS

2-Token System

VTBC & VTBT

30+ Years

OF PREDICTABILITY

A REVOLUTIONARY PROPOSAL

About Us

The VTBCommunity Foundation, through its project, allows the individual to be intentional about the financial system they wish to use instead of using the default. Price predictability, stable low fees, and simplified access to blockchain assets are salient benefits that set it apart.

VTB is working with a profit-driven entity to drive the use of the asset, whose goal is to offer financial tools in a business ecosystem delivering unique features to the community. One of them is a cash advance program, a merchant platform that includes a fee-less payment system, a reward program for the merchants, and many other incentives for the users.

THE FOUNDATION OF

AN ECOSYSTEM

VTB is not only building the foundation for an ecosystem; it is also creating the associated network that follows. This is a complete project comprising an interactive movement between assets and users: assets need users, and users require these assets to work for them; it just makes sense.

Coherent with the blockchain space of tomorrow, VTB is honing its efforts to drive solutions that result in a blockchain-based architecture that people can use in an easy, low-risk manner. Businesses can also remove some of their overhead costs in an equally low-risk environment. The ease of use allows adopters to utilize their smartphones to perform these VTB interactions.

STABLE & SECURE DESIGN

PROJECT SUMMARY

The VTB system is designed to be stable and secure by performing back-ups of the blockchain data on IPFS and using the Ethereum public chain to hold the IPFS address that all can publicly view at any time. This pattern consists of a layer-2, combined with a sidechain, for a quick and flexible performance while delivering transparency and stability. This combined methodology allows the system to maintain a very low and fixed operational cost and maintain its users’ private/public key pairs within their control.

The fees charged will cover the operational costs of the cloud and maintenance of the chain and APIs within the technology, along with the transactions onto the various elected chain interactions. Layer-2 interactions will be transacted on the Ethereum blockchain at least once per day. For clarification purposes, these transactions entail recording the current status of everyone’s account on IPFS and rendering them immutable through the Ethereum public blockchain. This information is visible through third-party sites, such as Etherscan and IPFS. In this manner, members can verify their balances independently.

OUR TECHNOLOGY

SYSTEM ARCHITECTURE

The architecture consists of substrate nodes, which perform consensus using Aura and Grandpa. In the future, the node may be available to individuals wishing to participate in this blockchain (future option) consensus. A multi-source configuration is used for APIs, such as Infura for ETH and Block Producer snapshots and or APIs for EOS, to reduce risk and prevent breaking changes. In conjunction, external smart contracts and accounts are used to accept deposits of their respective native currency. The Ethereum smart contract will also keep a stored IPFS address to allow users to constantly view the VTB blockchain and verify their VTBC balances through third-party applications. As previously mentioned, this state update happens on a set frequency of no more than 24 hours. This also serves as a backup to the VTB blockchain state. These (external to the blockchain) calls are done through an “oracle” system of unique substrate mechanisms called off-chain workers.

AN INTERFACE TO EXCHANGE VALUES

OFF-CHAIN WORKER

This substrate construct creates a reasonably stable method for providing external data to the blockchain. This data can arrive from an API and/or be a sizeable mathematical equation result requiring several minutes or hours to run. The Off-chain worker acts as an interface to ETH/USD exchange values, for example, and provides access to the Ethereum blockchain through Infura. This protocol complements the substrate’s overall operation and increases ease of use and security as it is an integral part of each substrate node. Moreover, these Off-chain workers facilitate more complex blockchain interactions, such as cross-chain transactions. In short, our team monitors the Ethereum, EOS, and other chains to ensure transaction occurrences are seen and, if relevant to VTB, are captured and used in the runtime. This simple system enhances our project by enabling the ability to perform interchain transactions.

THE VTB BLOCKCHAIN

RUNTIME

A substrate node has the unique capability of running any code within as a “smart contract” or even providing a smart contract platform inside the runtime for users to create their smart contracts much the same as the Ethereum blockchain. We have decided to run our code directly in the runtime rather than create a smart contract platform. This decision to operate now on the runtime was based on not requiring the capabilities to develop contracts or allow any other user to do so on the VTB blockchain. The extra code entailed in the chain would bloat it and slow down its development. This streamlined approach provides a faster turnaround on updates, upgrades, and maintenance. The good news is as the project grows and the community evolves, the VTB community could vote to add smart contract capabilities to the system. At this development phase, however, simple is better.

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