How does NGK realize that the technical aspects of complex financial contracts which surpass the existing secure distributed blockchain?
The external implementation of ring signatures and threshold signatures are important links in the blockchain. Suppose you plan to create a ‘round spending contract’, that is, any one of us can make a transaction from the same address, and you can also prevent anyone else from knowing who among us spent the funds. Bitcoin cannot do this, and Ethereum can do this, but the disadvantage is that it is expensive and complicated, especially the ring size needs to reach 10–20 members to ensure that transaction privacy can be protected robustly.
Since NGK integrates the Sigma protocol in the core components, it is very easy to create such applications with NGK, and it can achieve independent privacy protection in the application layer: Trustless scripts can be used as a mixer or a hidden transfer sender. For other functions, there is no need for a third party to participate.
The NGK Script is the original script of NGK. It is a brand-new cryptocurrency scripting language specially designed by NGK that is friendly to encryption protocols and applications and has powerful functions. It is much more powerful than Bitcoin script. It is based on the Sigma protocol, supports non-interactive and zero-knowledge proofs, and it is very flexible. It can be used for ring signatures, multi-signatures, multiple currencies, atomic swaps, self-replicating scripts, and long-term calculations. It has been proved that NGK Script is the Turing complete.
Each token in NGK has a program written in the NGK Script for protection. The NGK Script can stipulate the using conditions of a token. In simple cases, a private key owner can use one token, but more complicated spending conditions can specify multiple holders, time spent, whom or what group to spend, etc. This allows the NGK to implement complex financial contracts far superior to other existing secure distributed blockchain.
The NGK uses its own original NGK Script, which can be used to write Turing-complete smart contracts, and avoid custom solutions for program shutdown, such as the gas mechanism in Ethereum. Therefore, NGK does not have a problem of high gas cost.
NiPoPoW is the abbreviation for Non-Interactive Proofs of Proof-of-Work, which allows the creation of a very efficient mobile wallet — NGK wallet, because it only needs to download the block header, not the entire blockchain. The NiPoPoW allows communication and interoperability between different blockchain projects. It supports cross-chain such as API. Cryptocurrencies such as NGK have added the NiPoPoW support since their creation. This means that NGK can also create an efficient mobile wallet-NGK wallet, and can easily integrate and support cross-chain, and it can perform blockchain interoperability, such as APIs. The NGK block supports NiPoPoW, which allows light clients to download less than 1-megabyte data to synchronize with the network. Therefore, regardless of the size of the blockchain, ordinary users can join the network and start using NGK with their smartphones, having the same security assurance as a full node.