Structures of the Digital Blockchain Technology

Published: 2021-06-17 09:56:01
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Category: Computer Science, Modern Technology

Type of paper: Essay

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The advent of the digital blockchain technology gave rise to a new paradigm in the digital ecosystem dedicated to decentralization, transparency, scalability and security; even as blockchain keeps on picking up visibility in the crypto world, enthusiasts and trusted experts in the crypto and other digital systems are creating a cohesion that will meet up innovative activities and find better approaches for using the innovations, brilliant contracts and cryptographic forms of money for the potential advantage of speculators.
Basically, these are the value propositions that the Ingot platform intends to leverage on to accomplish and provide valuable solutions. Fundamentally, some of the major glitches we encounter in the marketplace has giving rise to trading ineffectiveness, bringing about huge operational and transactional cost that has left us defenseless at the mercy of arbitrators and banks, via astronomical charges, inaccessibility and time wastage.These are the very critical problems that the ingot has come to provide solutions for. The cardinal objective of the Ingot project is to ensure that trading at the marketplace is more effective and resourceful, bringing to the barest minimal, reduction in trading costs via the use of distributed technologies, and more especially eliminating entirely prospective issues derived from third-party mediators and banks such in very high fees, unattainability and time consumption.
Ingot is a revolutionary project leveraging on the blockchain technology to facilitate like never before a platform that will bridge the gap and make operations between crypto and the customary financial system seamless, inculcate efficiency in the existing market arrangement, build confidence, faith and belief in the never ending distrust and continuous scrutiny of the crypto, one that will add impetus to its ability to facilitate trades, payment for utilities and also for the peer-to-peer business dealing purposes. Basically, the Ingot project is modeled to take advantage of the smart contracts in its well-defined processes to stamp out the reliance on arbitrators, with a view to dropping the amount fees payable and generating a dual marketplace framework where buyers and sellers are directly linked without disruption to each other.
Fundamental Structures
To accomplish some of these lofty objectives the Ingot Coin network employs 6 fundamental mechanisms: IC Exchange: This is one of the fundamental structures, it is a cryptocurrency exchange comprehensively incorporated with the IC Wallet, IC Digital Bank and IC Brokerage, it is a framework where traders buy and sell cryptos and have the opportunity for enlistment against other gluts of cryptos IC Brokerage: For the IC Brokerage, provision of entry point to the entire financial merchandises, especially as it concerns fiat cash, merchandises and equities in global stead.
IC ICO: Accelerator: This structure has a well mapped out functionality for entrepreneurs and new businesses primed to raise funds for their projects, it brings to fore an inclusive variety of services via marketing approaches, development content in the White Paper, law services, public relations services, listing of tokens on the IC Exchange and development of the blockchain tech.
IC Digital Bank: This framework is fundamental to the workings in the Ingot infrastructure as it facilitates customers’ ability to open diverse bank accounts be it savings, current or accounts that has to do with brokerage. It is an all time, all day, all year long programmed payment procedure system enabling the entire business or internal dealings, disbursements, and payments on the INGOT framework.
IC Crypto Certifier: The IC Crypto is the architecture responsible for services concerned with education, the lofty objective here is to cultivate consciousness and educate every concerned entity about the potency of the blockchain technology therein.
IC Wallet: This is another framework within the platform that opens the doors for users to send, obtain and stock crypto currencies, including fiat legal tender. Basically, it will be included with IC Digital Bank, making way for participants to remunerate in fiat money and resolve with crypto among others including with IC Exchange. The crypto wallet is also leveraging on the blockchain infrastructure.

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