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GKM bit variable, the next generation cross-chain cluster public chain

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GKM bit variable, the next generation cross-chain cluster public chain

January 03
16:21 2020

One of the signs of the continuous development of human civilization is the gradual contractualization of the relationship between people. And the establishment, change, and termination of rights and obligations have been established through contracts. The form of contract has also gone through the development process from verbal to external carrier, from tangible objects to electronic data. Taking time as the axis, contracts can be roughly divided into three phases: traditional contracts, electronic contracts, and smart contracts. The contract form is a mapping of productivity in each social phase. As smart contracts emerged the stage of history, the far-reaching changes brought about by the digital wave have just begun. 

There is no development without constraints. The existence of smart contracts is to make blockchain technology move towards a fairer and more equal value era. Fiat currency gives us an important lesson: the larger and more valuable a social institution, the more people want to control it. The consensus that virtual currency brings to us will upend the fiat currency world. The social contract of the GKM public chain is consensus. And the value of its public chain depends entirely on the value of consensus. 

The GKM public chain will break the vicious circle brought by fiat currencies in two ways: Firstly, the security and endorsement of the GKM public chain does not rely on strong centralized centralization. It creates a super competitive market to provide security protection for itself and transfer security provider (miner node) to a producer without power (each node can be). Secondly, the GKM public chain provides a new method for these security providers (miner nodes) that were originally competing through smart contracts, and can reach consensus on who owns what.

Let’s look at the basic characteristics and rules of the GKM public chain. Many problems left in social practice can be solved by technology and smart contracts, and the current social contract can be run in a new and better way.

1. Every transaction and cost must be signed by the owner (to prevent confiscation)

2. Anyone can trade and store GKM without authorization (boycott review)

3. The total number of GKMs is 500 million, which will be issued according to the confirmed plan (anti-inflation)

4. All users can verify the rules of the GKM public chain and check the transaction details through the block browser (anti-counterfeiting, anti-counterfeiting)

5. There is no centralized project party, and the network will never be closed. As long as one node exists, it can maintain ecological sustainable operation (preventing centralized power)

The GKM public chain makes the execution of social contracts efficient and automated through smart contracts. The rules of the public chain are determined by the consensus formed by the social contract. They are symbiotic, and lacking any of them is incomplete. The social contract and its rules are the core of the GKM public chain. By reshaping the commercial infrastructure, the GKM public chain can better combine the trusted value with the original production relationship and greatly reduce the cost of data transactions and exchanges. Combined with other scenarios and technologies, it can accomplish many tasks that were previously considered difficult to accomplish, spawning an Internet with value that emits tremendous energy.

However, there are still a lot of assets in the real world in the traditional way, and there are still many inefficient links in the complicated and long circulation process. For example, the infrastructure of international finance, trade and logistics is still a centralized and closed network.

Relying on a large number of paper documents and manual review to record the flow of goods and funds, not only leads to high costs and inefficiencies in cross-border cooperation, but also prevents the security of transaction information.

With the application and development of blockchain technology, gradually we will enjoy the convenience brought by directly building a value network based on the information Internet. Allows assets representing value to be credibly digitally connected, and records the complete process of their flow, connection, and distribution of rights and interests among all parties, greatly simplifying the procedures of all parties in the traditional circulation of assets, and achieving high degree of synergy of commercial flow, information flow, logistics and capital flow. Thus a new generation of value interconnection system has been established.

We are working to promote a new contract era of ultimate collaboration, pave the way for a global blockchain value network infrastructure that is accessible to everyone, and make trust easier. We also hope that more partners can join this wave, allowing human beings to truly enter the space of digital freedom and achieve an unbound utopian world.

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