Exorde is based on four main parameters:
Ethereum is responsible for the economy,
Skale environment provides high transaction throughput,
Filecoin decentralized storage network
NLP artificial intelligence module
The Ethereum blockchain has a secure and transparent settlement level. Ethereum is an open source platform that allows developers to create and deploy decentralized applications on it. A copy of each transaction is distributed throughout the network and each node in the network keeps a copy of this history. This distributed digital ledger can be easily synchronized through a massive decentralized network. This is what makes Ethereum accessible to anyone on the network.
The Ethereum network has data blocks consisting of transactions and smart contracts. Smart contracts perform operations like if-then ("if ..., then"). The same thing can be called an agreement, a contract, conditions - as anyone is more accustomed to. In life, we make deals all the time and not only about money “If I lose weight by the summer, then I will buy myself a ticket to Sochi.”
The main problem of transactions is that no one can guarantee the fulfillment of their conditions. I bought a ticket to Sochi and flew there with extra pounds - breaking deals with myself is generally a pleasure.
In business, this problem is solved by contracts: special people write special words on special pieces of paper with seals, which, if something happens, can be taken to the Arbitration Court. Special intermediaries sit there, for a certain fee they will punish the culprit with another special piece of paper. At the end of the act, everyone happily pays taxes. Thus, we remove all intermediaries, disputes and promises from this chain. And we introduce a smart contract that guarantees the validity of money transfers, conditions and transactions. And even automates the creation of such conditions.
If, for example, a smart contract is used to control a vending machine, then it would look something like this: “If someone puts a ruble in the vending machine, the vending machine will dispense a bottle of drinking water.”
So, smart contracts are programs that control the transfer of digital currencies or assets between parties if certain conditions are met. These are contracts written in software code and stored on the blockchain. They make transactions traceable, transparent and immutable.
SKALE is an elastic sidechain network connected to the Ethereum chain (layer 1) acting as an execution layer. It is a scalable and elastic environment that provides high transaction throughput.
Skale is essentially a solution with which developers can create SideChain for specific applications, protected by blockchain network validators, as well as speed up the development of smart contracts. And SideChain is a mechanism that allows you to move Ethereum (or any other cryptocurrencies) to another, completely independent blockchain, exchange it there, and then return it back to the main blockchain.
Let us now try to explain this with a simple example.
Imagine a highway - this is the main road (the main chain / Ethereum blockchain) on which vehicles move. And there are side roads that are built next to the highway (SideChain) where cars can move faster and they can connect to the highway when needed.
Thus, SideChain is a separate block chain that is attached to the parent chain (the main chain) using a two-way peg.
SideChain Exorde SKALE is where Exorde members and users will connect. It is on this Layer 2 that Exorde's collaboration architecture is built. SKALE allows you to create a scalable platform where thousands of users can participate and interact.
SKALE chains can execute sub-second time frames, perform over 2,000 transactions per second on each chain, and run full-state smart contracts in addition to decentralized storage and machine learning.
It turns out that, using SKALE, developers can use smart contracts with full functionality without compromising speed, security or decentralization.
Filecoin is one of the few non-financial blockchains. It is a decentralized data storage system that intends to replace the expensive and inefficient servers of Google and Amazon. Blockchain is used to guarantee the security of information. Thus, it is possible to share and store information on different computers around the world.
Content storage is implemented on IPFS, access to it occurs through a peer-2-peer (p2p) layer of the Filecoin blockchain. What is IPFS? In simple words, this is a torrent tracker (storage), where nodes share files with each other that they store on their disk. They then share these files with other nodes, distributing them over the network and creating a set of many nodes that store the files, allowing them to be accessed regardless of censorship. Nodes will be available even if someone disconnects.
Benefits of IPFS:
Hell content regression. The content has a unique identifier, which is the cryptographic hash of the file.
No duplication. Files with the same content cannot be duplicated and saved.
Interference protection. The data is verified using a checksum: if the hash changes, the network will know that the data has been tampered with.
It turns out that each node stores only the content of interest and indexes information about who else stores what. The IPFS structure eliminates the need for centralized servers to deliver website content to users. It gives access to content locally, offline. Instead of searching for servers, as is currently the case, users will look for unique identifiers by pulling content from a million computers rather than a single server.
Advantages of Filecoin over centralized storage solutions:
Price. The cost of storing Filecoin is driven by a hyper-competitive open market that produces ever more affordable and cheaper prices as the Filecoin network grows. Prices for centralized storage systems are set by corporate pricing departments and are significantly higher than the cost of a Filecoin storage system.
Scale. Filecoin can connect millions of individual computers from all over the world to create an absolutely huge storage network. The data storage potential of centralized repositories is limited to the few large companies they partner with.
Economy. Filecoin uses idle computer storage around the world rather than building new storage systems. Centralized repositories use specialized data centers built specifically for file storage, rather than relying on extensive file storage already in place. In addition, Filecoin allows consumers to choose the best storage option instead of entering into expensive storage contracts with on-demand storage providers. Organizations and individuals who have unused storage space can rent it out and be rewarded in tokens.
Safety. Centralized databases are easier to hack than decentralized networks like Filecoin because they don't have a single point of attack, making it harder to hack.
Reliability. The file storage statistics on Filecoin can be independently verified by the network and publicly verified, while the centralized systems file storage statistics are self-reported and not subject to verification by centralized companies.
Availability. Applications can access all storage providers using the Filecoin protocol, but centralized applications must implement different APIs for each storage provider.
physical location. Filecoin can have vaults located anywhere in the world, providing local storage options for anyone who needs it. On the other hand, centralized storage is limited by the location of the provider's data centers.
Thus, Filecoin represents a solution to the problem of inefficient storage and retrieval of files. It also allows the client to control their data and be less dependent on contracts with big business.
So, another necessary component in the project is the NLP artificial intelligence (AI) module, which will work with unstructured text. NLP is not only neuro-linguistic programming that pick-up artists have adopted. This abbreviation also hides another concept, and without it, the development of many modern technologies would be impossible. We are talking about natural language processing (NLP) - a field of artificial intelligence aimed at creating machines that can understand text and spoken words in the same way as people, and respond to the received data, that is, respond to them with their own texts or speech .
Today, the use of AI is booming due to access to a huge amount of data and increasing computing power of devices. This opens up opportunities for creating useful NLP tools in areas such as healthcare, media, finance, and others. In the corporate world, NLP technologies are also in demand - to optimize business processes and increase labor productivity.
So, what can we say about the integration of NLP into the Exorde ecosystem? In our project, the artificial intelligence module will allow us to recognize objects in the text, extract sentences, facts, compare them with each other and perform similarity checks. This approach will make the joint work of participants and AI more efficient, will allow tracking relevant and fresh information received by the network, and form a more objective opinion.
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