DLT comes from the peer-to-peer(P2P) network. In any P2P network, peers communicate with each other without the need for a centralized entity. Technically, a distributed ledger technology is possible through a peer-to-peer network. Let us back up a bit and talk about Stobox.
With its security token technology and upcoming crypto exchange that is powered by a utility token STBU, Stobox is a prime example of the ultimate image of the crypto industry is headed. This is an award-winning company in the field of security tokens and shapes the industry by advising governments on legislation for digital assets and developing next-generation infrastructure,Stobox provides approaches to solve these problems.
Stobox DLT Network Protocol v.0.7
Distributed Ledger Technology (DLT) also known as the Blockchain refers to the technological infrastructure and protocols that allows simultaneous access, validation, and record updating in an immutable manner across a network that's spread across multiple entities or locations
The Stobox DLT Network Protocol is one of the proprietary technologies built into the Stobox network, which has been upgraded to version 7,and will be used to issue Stobox shares STBX in the form of tokens, which will be open to purchase on STO.
Before delving into this lets talk about DLTs and Solidity.
A Distributed Ledger Technology (also known as Replicated Journal Technology, Shared Ledger or simply Distributed Ledger) is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites or locations with no central administrator requiring a peer-to-peer network is well as consensus algorithms to ensure the replication across nodes is undertaken.A prime example is blockchain system, which can be either public or private. Based on the blockchain and developed by Christian Reitwiessner, Alex Beregszaszi et al, Solidity is an object-oriented programming language for writing smart contracts usually on Ethereum. It permits embedding any creative logic into smart contracts.
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The latest Stobox DLT Network Protocol
This approach may work for utility tokens, but for regulated financial instruments, requirements are much stricter. Here are some smart contract for securities should possess to be compliant with corporate law and securities regulation:
Remote Burn of tokens. With many clients concerned about risks of investors losing private keys or tokens ending up in “shady” hands, DLT was introduced functionality that allows burning any amount of securities on any wallet that supports the ERC-20 standard. After the burn tokens can be restored on a corporate ledger and sent to rightful owners. This operation should be accompanied by offline legal procedures, such as board decision or court resolution; therefore, an issuer cannot abuse Remote Burn to burn securities of legally compliant investors.
Shares are non-divisible. Although it’s possible to implement divisible share certificates, it will create additional legal challenges and complicate reporting. We issue securities in a non-divisible form with 0 decimals after the point.
Remote Lock-up. There may be limitations on the circulation of securities, depending on the offering regulation. To comply, an issuer must be able to lock securities on any wallet. This function may also be used for vesting or resolving a legal uncertainty, such as when after an offering KYC issues appeared. Most securities protocols support only the total lock-up of all tokens. We strive for greater flexibility and provide an option to lock only the selected wallets.
Wallet Whitelisting. To help issuers meet legal standards, our smart contract includes a “Whitelist” function that allows the issuer to add/remove addresses from a list of those who have permission to own such security tokens. Security tokens cannot be sent to any compatible address, thus the issuer has to whitelist the investor’s address after the appropriate identification is completed. Failure to track ownership of your securities is a severe violation of securities laws in almost every country.
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Conclusion
As technologies come and go, this one really sticks up as a good innovative thing. Maybe Stobox has got an ace up its sleeve in the dicey cryptoverse.
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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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