USA International Covenant INC acquired blockchain technology department in 2018
Started research and development of NGK.IO block chain
NGK.IO block chain is a block governance block chain, which allows economic equity certificates to be chained
You can issue securities and tokens through the NGK.IO block chain (TokenUSA )
NGK Block Chain is a block chain based on the underlying technology of the blockchain. It provides the value issuance of rights and interests for enterprises and individuals. Through a decentralized structure, the real economy is connected to the blockchain to create an application ecosystem. The NGK.IO block chain realizes economy The direct conversion of value allows all digital currency enthusiasts to participate in the ecological construction of the government and achieve the goal of profitability. NGK will provide an open network for everyone to choose freely, and the construction of the underlying technology of the block chain will be on the chain All of the communiqués endow a strong transaction throughput and secure storage environment. In the ecology of NGK.IO, all communicator developers and communicator enthusiasts can effectively participate in the construction system of the block chain.
PBFT+DPOSS consensus mechanism
The NGK.IO block chain is distributed with 21 super nodes, and each super node is entrusted to prove the rights and interests. The NGK.IO block chain entrusts 21 super nodes with responsibilities. The super nodes take turns to generate new blocks and confirm transaction data. The shortest time is only 1 second. It can complete the confirmation of thousands of transaction data. At the same time, the NGK.IO block chain technology code is open source, with a highly decentralized smart contract, and all transactions in the transaction contract cannot be tampered with and rolled back.
NGK new contract super node voting mechanism
Super node voting + block chain decentralized application execution
The NGK.IO block chain is an open network. Users can develop smart contract DAPP for the underlying technology based on the block chain. At the same time, users can generate new tokens based on the smart contract. The new contract will enter the review period and the contract will be reviewed. During the period, you need to submit the contract and confirm the review content through the official website of NGK. If the contract is detected during the review period, the super node will initiate a vote, and the vote can effectively pull the contract into the review period. The block chain blacklist means that the contract will be abolished in the block chain, and the approved contract will be entered into the whitelist, and no voting decision can be made. At the same time, the developer’s contract also needs to have certain qualifications to ensure the block chain Users participate in relatively high-quality projects.
Super node review content:
Issuance mechanism
Communist background
Proof of equity
Through 21 super nodes to review whether all new smart contracts have BUG, effective review has played a very good role in the operation of the entire block chain. Politically on the chain, NGK’s technical team believes that only contracts with rich underlying and free trading and well-coded codes can be effectively applied in all walks of life.
NGK.IO block chain governance solution
At the beginning of 2018, the Ethereum network was nearly paralyzed due to a very popular blockchain game. Many users paid ultra-high fuel costs to allow miners to process their own transaction requests in advance to give miners priority packaging. This kind of contract makes the network unable to meet the growing user needs. Bitcoin has also appeared because the contract BUG caused the transaction to point to the address of the hacker. As the application chain, EOS has also caused the return of some block chain transactions because of the new contract BUG. Go, NGK.IO’s solution uses super nodes to review contracts to avoid these problems.
The NGK Tongzheng chain brings together the advantages of the underlying technology of the existing blockchain. In the NGK operating system, developers can build diversified smart contract tokens and diversified smart contract applications, and provide effective algorithm mechanisms through the preparation of smart contracts. , But all of this is based on decentralization. All users will make corresponding judgments on their contracts and entrust 21 super nodes to prove that after the certification, the developer’s contract will get a highest performance support, NGK The .IO block chain system will provide all blockchain ecological developers with powerful base stations with a transaction frequency of more than one million users.
Development history and planning of block chain
June 2018
Set up a development team, and build the underlying technology prototype
February 2019
Start building smart contracts for two tokens
July 2019
Start the development of the original ecological governance management system
November 2019
Release NGK White Paper 1.0 for Enterprises
February 2020
The original ecological intelligent management system is completed
March 2020
Start to deploy upper-layer applications
May 2020
NGK.IO block chain starts internal beta testing
July 2020
NGK.IO block chain super node starts election
August 2020
The NGK Integrated Management Chain White Paper 2.0 is officially released, and the mainnet conducts block testing
October 2020
NGK Tongzheng Chain Ecosystem officially launched, NGK Chain Application Ecology is fully open
important events
USA International Covenant INC applies for STO of digital currency
USA International Covenant INC Company regards the eight major enterprise shares held as the background of STO currency issuance
The STO obtained the STO digital financing certificate issued by the trust institution and the SEC (United States Securities and Exchange Commission)
NGK.IO block chain applied for US MSB blockchain license
NGK Chain officially released white paper 2.0 in August 2020
The total amount of NGK is constant at 1 billion
Initial issue price is: 0.0215 USD
The total number of NGK pre-mining for the first time: 60 million
Respectively;
STO crowdfunding: 35 million
Unlocked address spare: 10 million
Community launch plan: 15 million
STO Crowdfunding Information
Crowdfunding time: 2019.11.05–2020.03.24
Crowdfunding: 35 million NGK
Crowdfunding price: 0.0215 USD
Crowdfunding distribution: foundation 5.85%, ecological construction 20%, developers 30%, angel capital 44.15%
Super node introduction
All super nodes are built by hardware. Since the election of super nodes has certain competitiveness, then this means that the hardware configuration requirements for each super node are very strict, and at the same time, the contributions within the address in the NGK network are participating. In the election process, it is also regarded as a valid number of votes, so the number of votes obtained by the NGK super node is equal to its own number of votes + the total number of votes cast by each node.
The role of super nodes
1. Review of new contracts
2. Confirm transaction data
3. The handling of handling fees arising from mortgage
4. Use specific algorithms to generate new blocks
5. Provide computing and bandwidth for the network
Release mechanism
Constant total: 1 billion
STO pledges to raise 35 million
10 million spare addresses for unlocking
Super community launches 15 million
Every year, 150 million of super node fixed output is released
The release period is 6 years and 98 days
NGK super node authorization certificate (DPOSS consensus mechanism)
NGK Tongzheng Chain authorizes 21 super nodes to provide proof to generate new blocks
Block speed: 3 Sec/block
Block reward: one block ≈ 14.2694 NGK rewards
Distribution mechanism
The early block chain construction of Bitcoin and Ethereum was generated by the consensus of miners, and the same is true of NGK. All users participating in the NGK.IO block chain can use USDN to purchase hash power and obtain it by purchasing hash power. Block rewards for super nodes, block rewards are distributed in proportion to holders of computing power. This process does not require users to purchase physical mining machines to achieve the sharing of block generation benefits of super nodes, and each holder of computing power Can participate in community construction, then the builders of community ecology can also obtain corresponding benefits, that is to say, the return of the holder of the hash power is related to the super node, and the holder can get income from the mining pool.
The common understanding of node computing power is:
Super node = mining pool
Every node = miner
USDN open position = purchase node hashrate
Generate new blocks = release NGK tokens
All tokens rewarded by the super node will enter the Worker Proposal (Ecological Fund). This is the incentive of the NGK.IO block chain to all ecological builders.
Super node benefits
Users participating in the hashing node can also use the obtained NGK tokens to vote for super nodes, and the voting will also be used as a way for the block chain to benefit the super nodes. At the same time, the NGK native tokens will be used for all fuels of the block chain and all node transactions The fees incurred and the fees for other developers to create smart contracts on the NGK.IO block chain will be used as the profits of super nodes.
When a super node does not produce any blocks within 24 hours, then the rights and interests of this super node will be deleted to ensure that the future operation of the entire network will not be affected in any way, which means that the super node must fulfill its obligations and be responsible for generating New blocks, and confirmation of transaction data (bookkeeping) for everyone.
As users continue to accumulate, in the current consensus algorithm of the entire blockchain, the speed and income of DPOSS super node mining is currently the highest of all block chains, and the revenue allocated to each user node will also be the most Yes, through reasonable incentives, NGK.IO block chain allows all users to actively participate in the construction of NGK.IO block chain ecology, so that the NGK.IO block chain system is in a stage of rapid development.
