January 2, 2022 at 15:57 #1338WebMasterKeymaster
The VTBCommunity Project
The following goals define what the project strives for with its assets and operations:
The stability of the VTBC asset value is due to its daily increase. Since its value does not decrease, it is considered to be non-volatile.
Although it may be a less exciting goal to a speculator, to a household or business, holding assets worth the same value or increasing every day is very important. This allows community members to use VTBC or hold it as a savings account comfortably. Its value progressively increases, therefore, pervading a sense of security to its holder and allowing for the purchase of additional goods and services in the future.
It means that VTBC will likely increase in value over that of inflation; “likely” because future inflation rates cannot be predicted.
Everyone can use the product due to extremely low fees offset by daily asset value increases. As previously mentioned, the fees associated with Bitcoin and Ethereum, or most other blockchains, are too high for many people to afford, thereby excluding their accessibility. As part of the VTB vision, everyone must have access to the VTBC asset, regardless of their economic standing. Inclusive also relates to the ease of use, no matter what technological knowledge a person may behold. If someone can use a credit card and/or smartphone, they can use VTBC.
In a few words, scalability is the ability to complete as many transactions per second as the users demand at any given time.
The current solution uses layer-2 methods and sidechain patterns with submissions to Ethereum or any chosen public blockchain. Since Ethereum is well known and works well with IPFS for chain transparency, the Foundation decided to use this method.
Cohesive with a goal of not only keeping the token price stable but predictably and continuously increasing. Enormous price fluctuations have affected cryptocurrencies since their inception, which can be more than welcome while growing, but detrimental at its fall. Traders make money using a zero-sum mechanism, but it does not serve the traditional daily means of exchange.
Elliptic curve encryption, typically seen as public and private keys, has been used since the onset of cryptocurrencies as we know them. This algorithmic calculation backing a public and private blockchain prevents the success of most hacking activities. Having proven itself, encryption, the VTB system is using the same methodology while evolving to meet the new capabilities of the expected Quantum computer. Users are fully responsible for their private keys as VTB does not maintain, produce, have knowledge of or retrieve them in any way.
Transparency is achieved through several means including the use of a Foundation, independent legal entity, external publicly-accessible technologies. This Foundation has and maintains rules and has a public charter; governed by the law of Gibraltar (UK), it is required to report every activity. The legal guardian is put in place to ensure all activities are in the best interest of the community by ensuring all activities are done to further the white paper. The guardian cannot be replaced by the Council to ensure its objectivity it is also bound by the Gibraltar laws. The use of external technologies to be able to see balances of specific addresses is an attempt to provide some transparency and allow users to see these values without having to use the VTB DApp.
9. Low fixed costs
A strategic combination of performing technologies allows the VTB system to provide low costs to users.
You may consult our White Paper for a complete reference of this whole section at https://bit.ly/vtbwhitepaper
- You must be logged in to reply to this topic.