Tokoin — product & technology of project

Hello everyone has returned to my article. In the previous article, I introduced you to a Blockchain project. It is tokoin this is a project that is receiving a lot of positive reviews. And of course, I also appreciate very well the idea as well as how the project works. About what the project is doing to be able to meet the needs of supporting new businesses in the future.

WHAT IS TOKOIN ?

Although I introduced this project, I still want to repeat.Tokoin is a platform that establishes digital business identity and reputation of MSME as an acceptable credibility scoring for suppliers and financial institutions.

Technological Aspects

Tokoin uses a permissioned blockchain for sharing personal knowledge in an exceedingly distributed network. The requirement is for knowledge to copy across multiple freelance nodes in an exceedingly controlled manner. The data must be immutable , encrypted, and on the market for users to question and access.Most blockchains area unit designed strictly for worth transfer and not sometimes well-suited for knowledge storage.They have restricted dealings output, restricted knowledge capability, and lacking interfaces for querying the ledger content. A couple of solutions is often done by adopting hashes (IPFS) and pointers(Multi-Chain) with knowledge keep in flat files or isolated databases. Tokoin needs a bigger amount of knowledge to be cryptographically secured whereas being replicated to the participants in it’s distributed network.Tokoin adopts the blockchain in an exceedingly novel manner. It embodies style principles of a replicated info model for storing credit knowledge in an exceedingly high-throughput knowledge store. Tokoin uses DynamoDB for its storage layer in an exceedingly NoSQL info. This permits for versatile JSON knowledge models for hierarchy and classification. Significantly, this info implementation permits for querying across massive knowledge sets.

Since Tokoin will operate in an environment without a centralized control, a consensus mechanism to coordinate data replication between nodes with low latency is required. They use Tendermint for the underlying consensus mechanism to ensure Byzantine Fault Tolerance (BFT) across Tokoin’s network. By design, Tendermint runs validators on each node for the consensus of broadcast transactions. As this middleware focuses only on consensus, it can handle transaction rates of up to thousands of transactions per second.

In order for Tendermint to interact with the data store, we adopt the ABCI interface to interconnect the consensus network to the database engine. ABCI is a messaging protocol coordinating the requests (business logic) received from Tokoin’s network and applying them to the database (e.g. add record, append record).

Tokoin must guarantee that records are immutable and non-fungible. To attach all submitted data to an owner, they leverage BigchainDB for its interfaces to the data layer and strict conditions on the ownership of the data. It enforces rules to ensure that data are cryptographically signed prior to being inserted into the database. This also prevents malicious interference with one node and does not affect the rest of the network.

Products

POS

The Point of Sale (POS) or Point of Purchase (POP) is where a retail transaction is completed. Through POS, merchants input and clarify the MSMEs’ purchase transactions as the system records it in a Digital Ledger. Tokoin’s POS system is a device released by Tokoin’s platform. It functions to keep track of transactions done by a Digital Business ID. The specific use of Tokoin’s POS is to capture off-line purchases. Tokoin will provide this device for off-line seller partners, such as distributors and wholesalers. Data, such as product type, amount, price, buying intensity, payment details, and other relevant information, will be recorded through this POS in a Digital Ledger which belongs to a specific Digital Business ID.

DApp

The activities on our platform’s ecosystem are generated in a blockchain-based digital system. Through a decentralized computer application, the data captured on Tokoin’s platform are stored in a distributed ledger. Every set of data stored on Tokoin’s platform through the dApp is secured, and this is enabled by the blockchain’s characteristics of being secure, trusted, and immutable.

When users submit their data, it will store the data decentrally, meaning that there is no single point of authority in the data ownership. Therefore, each set of data belongs to each provider. This characteristic of the platform allows MSMEs as data providers to gain profit in the form of “data monetization”. Tokoin’s app also allows MSMEs to build their credibility through records of transactions

Token distribution of Tokoin

So through the articles that I share about Tokoin project. In general, everything is very good and the ways of people are looking at it. For individuals, I think this is a very worthwhile investment project. In the near future the project is organizing the image to call capital through the IEO in KUCOIN. You can consult more, and this article is not an investment advice. You can view the latest information and updates about the project through the following channels:

Telegram Chat: http://t.me/tokoinglobal
Twitter: https://twitter.com/TokoinOfficial
Facebook: https://www.facebook.com/TokoinOfficial
Medium: https://medium.com/@tokoin
Instagram: https://www.instagram.com/tokoinofficial
Linkedin: https://www.linkedin.com/company/tokoinofficial/
Quora: https://www.quora.com/profile/Tokoin-Official-1

See you again in the next article. And I’m Chill Andrew.

My user bitcointalk: chillandrew1511

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