THE VOLARE ECOSYSTEM: BALANCING THE EQUILIBRIUM
Blockchain technology has taken over the reins of technological developments in the few years of its neophytic existence. Its integration in all spheres of human endeavors is awesome and thorough. However, it is yet to realize its potential in such niches as business and commerce. In a business context, blockchain can level the playing field between small and large organizations in several ways: Exact copies of the immutable, time-stamped data are held by all parties, all transactions can be viewed in real-time, data blocks are cryptographically linked, all raw materials are traceable and intelligent contracts ensure no middle-men, ease of audit and reduced friction. The trust, transparency, security, quality and reduced costs of blockchain make it a game-changing technology that easily crosses sectors, industries, and borders. Even though the technologies are ready for adoption, businesses remain largely unaware of their full potential and effective implementation.
A problem identified, is a problem solved. Armed adequately with the mission of commercial use of blockchain technology, Volare Network aims to actively attract highly accessible dApps. For this purpose, in the process of selecting the most technologically appropriate blockchain engine, the Volare Network considered the most important factors: high speed, smart contract support for easy development, and system scalability. The much-touted Equilibrium engine is designed commercially available by realizing high transactions per second and guaranteeing network scalability. The non-competitive consensus algorithm profoundly enhanced transaction speed and managed structural characteristics to address limitations caused by network expansion that prevent degradation as network scale and service increase. As a result, individual services operating within the Volare network provide stable service to users with improved speed and the strength of not being affected by other services.
So let us take a step back. What is the Equilibrium engine?
THE EQUILIBRIUM ENGINE
This Engine was the brainchild of the EQBR Group which consists of EQBR Holdings, a holding company incorporated in Korea. As a core of EQBR Group, EQBR Holdings developed main technologies which are the basis of many businesses engaged by EQBR Group and has continued to publish a full line-up of blockchain applications, including among other dApps like the Whisper Messenger. The founders of EQBR Holdings determined that current blockchain-based service networks are inadequate for general commercial
use and saw the need for a new blockchain engine that can surpass the
performance of not only first and second-generation blockchain networks,
but other existing third-generation blockchain networks, in terms of speed
and the scalability. To this end, EQBR Holdings developed an entirely new
blockchain engine rather than relying on forking other mainnets.
Through several years of strenuous effort including countless tests and
improvement work, EQBR Holdings developed the prototype of a core engine, upon which they built an optimizing consensus algorithm and overall
system layouts, which led to the premier version in 2020.
These efforts and achievements were recognized by the Korean Ministry
of Science and ICT, who selected EQBR Holdings as a joint R&D partner
in a five-year national project to set the national standard for blockchain
in collaboration with the most prominent scientific organizations in Korea.
VOLRSCAN is a blockchain explorer which basically is a tool for visualizing blocks, transactions, and blockchain network metrics like average transaction fees, hash rates, block size, and block difficulty. Blockchain explorers are the Google of cryptocurrencies and blockchain. They allow users to access different details related to transactions on specific wallet addresses and blockchains including the amount transacted, sources and destination of funds, and status of the transactions.
VOLRSCAN is no exception and is a network ledger that looks up transactions that occur within the Volare Network as well as block information. Furthermore, as a block explorer, VOLRSCAN provides search functions by the user, by block, and by transaction, making it easy to check and verify transaction data. Although Equilibrium provides the utmost level of reliability and does not create orphan branches of blockchain, the ability to verify transaction histories is essential to maintain the transparency of the network, where the withdrawal or cancellation of a transaction is not possible.
Volare Network also offers a wide range of services to developers,
including Air-drop, Launchpad, dApp Store (Game Center) and decentralized exchange (“DEX”) in order for developers to easily commercialize
their products or networks and to expand their businesses.
Decentralized exchanges, also known as DEXs, are peer-to-peer marketplaces where cryptocurrency traders interact directly via smart contractswithout handing over management of their funds to an intermediary or custodian. DEXs were created to remove the requirement for any authority to oversee and authorize trades performed within a specific exchange. These attract users to the decentralized finance (DeFi) space and largely contributed to its growth. DEX aggregators and wallet extensions fueled the growth of decentralized platforms by optimizing token prices, swap fees and slippage, all while offering a better rate for users. Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss. Popular decentralized exchanges have been built on top of leading blockchains that support smart contracts. They are built on top of layer-one protocols, meaning that they are built directly on the blockchain. The most popular DEXs are built on the Ethereum blockchain.
A crypto launchpad is a platform that helps startups and enterprises to launch their own projects. The launchpad provides the necessary tools, resources, and support to help these organizations succeed. Often referred to as IDO platforms, are platforms for launching new coins, crypto projects, and raising liquidity. They are the digital world’s next big thing, specifically in terms of decentralized finance. An IDO is a platform for crowdfunding for any new project launched on a decentralized exchange platform using coins or tokens. Due to the project’s blockchain-based approach, people from various backgrounds can contribute. Launchpads are tools to facilitate business promotion and investments. Through Launchpad, developers can plan and implement the funding of tokens for their events
and services. Launchpad is a tool for creating a sound environment in which investments can be made based on the launch of applications or services that
are actually running within the blockchain network. We hope Launchpad
will move away from the existing business practice under which developers
attract investments based solely on a written business plan.
To facilitate this, the team operating the Volare Network will conduct a
a close review of a developer’s service and filter out unreliable investment
promotions prior to registering a developer’s service with Launchpad, in
order to ensure a safe investment environment where users can make an
the informed decision as to whether to purchase new tokens.
Games are getting increasingly popular in the crypto sphere due to the complex use cases attached to them. The Volare Network Game Center enables game devs to upload their game and create their own blockchain-based services. Users can also access a variety of blockchain-based
games through the Game Center. Users who play games through the Game
Center needs to use VOLRs or separate tokens exchangeable into VOLRs.
Through its various services, the Volare Network has created a healthy and evolving ecosystem in which virtual assets within the network can continue to increase in value.
VOLRSCAN - Beta
VOLRSCAN is a block explorer that allows users to search and find blocks in the Volare network. Explore block details…
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About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain connoisseur
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