Unlike the traditional economic system where verification and control of economic transactions are carried out by financial experts and card companies, in the cryptographic world the system is distinguished by its decentralized nature. In a decentralized system an identical copy of a database is shared with each participant in the network. The participants become node of the system and will be responsible for establishing the verification of the data, verifying that each of the copies of the nodes are identical and, therefore, the data is reliable.
This quality of distributing among each member of the community the process of verification of transactions, undoubtedly mitigates the risks associated with the management carried out by a central entity. In addition, transparency is guaranteed since at all times the members of the community will have access to all the information of the system contained in the distributed ledger.
The Native Key Concept: Community
The fundamental concept associated with the ecosystem designed by Native is community. In order to understand the scope of this project it is necessary to clarify the idea on which the whole platform is built. With this intention in mind we resort to a formal definition of community to illustrate Native's fundamental goals:
"A group of people of diverse characteristics linked by social ties, with common perspectives and joint actions"
Social bonds and common perspectives are a fundamental part of a community, but their actions together determine whether the community is successful or not. Native recognizes this and places the platform at the service of users, which will allow people with similar visions to build a collective objective (that of the community) that is at the same time a commitment of their own.
This translates into the active participation of each of the users when carrying out joint actions.
What is Native?
With the key concept of this system clarified, you can proceed to know a little more about it. Native is an ecosystem, made up of several companies and a network of communities, which provides a structure in which communities can develop their objectives by making efficient use of scarce resources. To do this, Native opens the way for users to new emerging financial ecosystems allowing them to create local cryptocurrencies that respond to the needs and the overall vision with which the community is born.
Additionally, Native solves one of the main problems for new users of blockchain platforms that have not yet acquired the necessary technical knowledge. It provides templates that adapt to the different types of needs of the Communities to ensure that those with limited technical or economic knowledge are not excluded at any time.
The communities will have a platform that will allow them to achieve all the objectives with which the project was founded with low operating costs. For example, if they are communities that seek to generate income from their activities, they will have the certainty that the platform will be the point of support for their economic activity. This quality will have serious repercussions for the members as well as the community and the platform. Among some of the possible obtained can be mentioned:
• Communities with higher incomes
• Increase in the number of users in the community
• Strengthening of the community currency
• The community will have the possibility of having a real influence in the world.
• Savings of the costs associated with each transaction
• Memberships more quoted due to greater and better benefits of the community.
• More efficient processes
How does Native work?
The ecosystem of Native has a token called Native Token (NTV) which is the base currency or backing for all other currencies developed by the communities in Native. NTV tenure provides membership to the community. The Tokens designed for the communities within this system are implemented as Bancor Smart Tokens. These coins will operate as regular tokens using the ERC20 protocol and interface used in the Ethereum block chain.
This base reserve will be divided into three wallets , each with specific objectives within the functioning of the community:
- Community fund - Resource fund for community expenditure
- Smart Token Converter - Traditional Bancor Converter that modifies the price and supply according to the weight of the connector.
- Connector balance - direct value addition to existing supply token.
The price of Token
The price of the token in Native is calculated using three variables:
- Connector / Reserve balance: value of the base token that is kept in reserve.
- Exceptional supply - Number of tokens in circulation.
- Weight of the connector direct addition of value to the existing token source.
To calculate the current price of a token, the following formulas are used:
Connector Weights (CW) is a measure of the price volatility of the tokens in the market, CW can range from 0 to 100%. As the CW increases, the lower the volatility and the more attractive the tokens will be, in economic terms, for anyone wishing to join a community. Connector Weights can become an instrument used by the Communities to avoid large volatility oscillations in the general markets and achieve a stable price that supports the expansion of the community.
Some characteristics of Native
- Native allows people without technical knowledge of cryptocurrency to create and use their own digital token, without the risk of being scammed.
- Tokens are transferable, reliable and work independently of centralized currencies
- wealth is stored in local currencies, but despite this, these currencies achieve recognition within a global valuation framework
- Each community will have consensus mechanisms according to their needs and objectives.
- Each community will independently determine the tasks, projects and activities as well as the form of the administration of its resources to create the ideal conditions to achieve its objectives.
Case of use
Native is a platform that has infinite applicabilities. In this platform, knowledge will be able to join scientific communities that respond to these interests. Those with exceptional business ideas will find here the platform that will allow them to put them into practice. The NGOs can obtain here a tool to disseminate their activities and at the same time a means to obtain financing for their activities.
But the area of applicability where Native can have the greatest impact in the world is education. At one time one of the great humanists of recent times Nelson Mandela, warned about its importance:
Native will have the possibility of seeing communities born in which educational projects are developed. They must go beyond simple financing to research and development, they must provide the tools for students to become citizens who contribute to the development and improvement of their society.
Native makes it easier for users who do not have high amounts of money or have great technical or economic knowledge. Provide a platform where you can quickly create a community and its respective token. The growth of the communities is instantaneous for those whose objectives manage to trap the users, and this is possible since the currency of the community will not have to design an economic strategy of positioning to enter the main Exchanges. In addition, long waiting periods are eliminated so that the community can achieve success and meet its objectives. Native is presented as the spearhead for entry into the world of cryptographic assets through the formation of communities around the activity of taste or interest of users.