From an economic perspective, digital assets are data produced in daily activities and are owned or controlled by an enterprise. These assets are also used to managed and to hold a variable asset for sales. Digital assets are applied on various issues such as Internet of things (IoT), trade settlement and foreignexchange settlement. Digitalassets have attracted worldwide attention fromvarious angles, this is because itscirculation is swiftly rising. It is also because of the increased circulation, that digital assets are becoming more widespread. Digital assets have become a must-have in view of globalization.The BDC technical team believes that digital assets mainly include three aspects: Firstly, it must be a digital currency and
or other digital token, such as being a coin.Secondly, it can be a form of digital financial assets, such as and not limited todigital stocks, private equity, listed equity, bond, hedge funds and all kinds of financial derivatives such as futures, options and otherfinancial assets. Lastly, it can be all kinds of digitized real assets such as real estate, data assets, intellectual property rights, works of art,luxury goods, cultural heritage and enterprise assets.
BAUDCOIN (BDC) is a multi-bit asset interaction protocol allowing different forms of asset to run and operate on the BDC blockchain. Examples of assets that can be integrated on to the BDC blockchain are: Heterogeneous bit assets (Native digital currency, Digital assets), atomic assets (commercial applications of traditional physical counterparts such as business asset management, digital asset protocol,industrial chain diversified commercial payment, asset information management, etc.). An agreement can be formed to register these assets onto the BDC blockchain, allowing for seamless digital application – connecting the atomic world with the digital world; facilitating interaction and flow of assets between the two worlds. BDC blockchain even enables more complex interactions through the use of smart contracts.
Information is not circulating: Industrial and commercial applications of digitalassets, payments and applications with business assets are often islands of information. Information betweenproduct payments and linked consumption cannot bequickly shared and circulated.
Non-circulation of resources: This is especially true btween commercial industrieswhereby valuable businessresources are mostly in a state of secrecy. It is impossible to encourage circulation of useful commercial resources to strengthen the profit-making opportunities in the industry.
Incompatibility of interests: In most businesses and commercial applications, businesses have different interests. This creates a problem whereby it creates an uneven playing field in the markets, leading to divided opinions in the wider customer bandwagon and ultimately customer distrusts in the products and businesses.
Digital asset resources limit data flow: Whereby payment circulation is restricted, which creates the inability to transfer payments quickly,on top of the low service capacity. This results in the inability to meet the needs of end users, creating an imbalance between their needs and what the industry is able to offer; and as a result – the industry and world economy suffers.
Too many circulation links between assets: Such as between asset management, applications, payments. This leads to an increase in administrative costs. Lately, policies that allow companies to directly manage property rights in commercial assets are leading the forefront of change (such asfinancial giants). The differing protocols and uses in circulation links such ......
Based on blockchain technology, BAUDCOIN can achieve links between global commercial products, business services, digitization of commercial payment. Like building blocks, it is able to adopt global product business data, digitizing them into the blockchain and creating a world’s first commercial asset kingdom. This allows consumers to make purchase on the blockchain, businesses to collect payment on the blockchain, and creating an ultimate ecosystem whereby everything can be done on the blockchain. This solves many issues that is prevalent in the current financial markets and commercial and consumer industry.
Across the BDC network, all data are harnessed and collected via big data technology. The big data will not only collect key information but will do so securely via decentralization and encryption. BDC users are rest assured that the data collected is kept in strictest confidence using the highest encryption standard available to date, ensuring personal privacy and data security.BDC Applicability/Data Analysis
The BAUDCOIN commercial chain is able to resolve issues in businesses, payment and financial application. As the quality of products varies as with the lack of supervision in the commercial industry, BDC resolves this issues by allowing end users to easily identify and verify products thereby promoting consumer rights. This allows end users to easily distinguish between good and inferior goods and services. In addition, financial services linkage can be difficult due to the close sourced nature of most financial payment applications. BDC on the hand is built on an open source platform which allows for easy integration to any financial payment platform. Additionally, BDC is able to link up with any other blockchain in the industry, thereby promoting free flow of funds and increased flexibility – providing the answer to consumer needs.
The BDC underlying chain promotes open, transparent data exchange in a safe and secure manner. This is built on top of the powerful blockchain technology with powerful tweaks by the BDC team. This allows businesses to easily check and trace all data exchanged,such as product, inventory, sales order, etc. Also, each transaction is recorded on the block, promoting traceability of each data which further enhances the security and integrity of each data.
BAUDCOIN has established global links with key big data global players. With our close cooperation, BDC will be able to fully transform the way big data is used to further create value in businesses. BDC has also established its own bid data technology research center to gain an advantage in the field of big data; many industries are aware of the potential of big data, but they do not know how to leverage on it and to utilize big data to further grow their businesses. The BAUDCOIN big data platform will be the brainchild of the research center, creating greater wealth generation in businesses.
Trough the decentralized nature of blockchain, data are exchanged securely using digital signature technology. This solves the trust issue of the current market phase. In addition, state of the art encryption is applied on all transactions, providing world class security level. Also, smart contract capabilities make all transactions legal and formalized, this further prevents fraud and other disagreements. The use of smart contracts also automates transactions, whereby only if the terms of contract are carried out will the funds be released, and contract completed. This further reduce financial costs as well as improve overall efficiency.
Payment time is reduced from minutes to seconds
Decentralized nature allows for Business as Usual (BAU) even if any of the node is down.
Strong encryption protocol along with high traceability. This prevents data from being tampered or lost.
New participants can be quickly and easily deployed on to the system.
BDC blockchain is also build on the Zerocash privacy protocol, which converts the transaction content to prove that the product of two polynomials is equal. In combinationwith homomorphic encryption and other technologies, this can protect the hidden transaction amount and verify the transaction at the same time.
In BDC blockchain transactions, Zerocash protocols can perform transactions using zero knowledge. Participants can use addresses to replace the real identities of both parties in the chain, making the transaction partially anonymous. The sending address, receiving address and transaction amount are displayed, this also allows participants to be openly access all kinds of information on the BDC blockchain network. Records of interactions with the real world have the hidden danger of privacy exposure for participants. Therefore, in BDC blockchain transactions, no transaction history analysis can be done. This is to protect the real identity of users, as we value privacy protection. BDC can offer full anonymity, even the amount of the transaction can be hidden such that the only public record of a book is the existence of a transaction.
Most important of all, this reduces the sizes of proofs and the computation required to validate them. The procedure can be summarized as follows:
❖ The program to be validated is decomposed into logical verification steps. These logical steps are decomposed into addition, subtraction, multiplication and divisionto form an arithmetic circuit.
❖ Through a series of transformations, the process of requirement verification is transformed into polynomial product is equal, prove t (x) h (x) = w (x) v (x).
❖ And just to make the proof a little bit simpler, the verifier selects several checkpoints at random in advance. There are checks that the equations are valid at these points.
❖ Through homomorphic coding, encryption prevents the verifier from knowing the actual input value when calculating the equation, but it can still be verified.
❖ You can multiply both sides of this equation by a secret number that is not k = 0，So you are verifying (t (s) h (s) k) is equal to the (w (s) v (s) k) when you do not know t (s）, h (s）, w (s）, v(s）.Therefore, information can be protected。
BAUDCOIN’s smart contract is a combination of a non-Turing complete main chain and Turing complete side chain. BAUDCOIN’s Smart contract is based on the data source on the blockchain. The data source provides guidance on the functionality of the blockchain, thereby allowing the source code to easily interact and integrate. Also, BDC smart contract automatically executes and fulfills the contract once all terms of the contracts are met. In the event that the terms are not all fulfilled, the contract will not be executed. This is particularly important as any partial execution of a contract may result in serious consequences. For instance, in a securities purchase transaction, the securities have been transferred but the payment was unsuccessful. This transaction will be difficult to undo as the other party must agree to transfer back the securities. However, through the use of smart contracts, this scenario will never happen as not all terms of the contract are fulfilled and therefore the contract will not have been executed.BAUDCOIN’s smart contract capabilities not only reduce cost and provide high efficiency, it can also avoid the interference of malicious behavior prevalent in the form of traditional contracts. The smart contract is also embedded in BDC’s blockchain in the fifth layer, thereby increasing integration and execution of the smart contracts. The BDC blockchain also takes care of the data writing and storage aspect of the smart contracts, and it is further enhanced with high security and encryption to protect the integrity of the data. Thus, the data can be traced transparently, and it cannot be tampered with. The entire BDC blockchain is also built on a consensus layer which will make the smart contract run efficiently
BAUDCOIN uses the state of the art Elliptic-curve cryptography (ECC). Based on elliptic curve theory, encryption can be done much faster and more effectively when creating smaller keys. ECC uses the properties of elliptic curve equations to generate keys, instead of using the traditional method of using the product of large prime numbers to generate keys. ECC Is a public key encryption technology using points of elliptic curves over finite fields making its discrete logarithm difficult to solve, making it near impossible to decrypt its digital signature through chance. The addition operation of elliptic curve corresponds to the modular multiplication operation of discrete logarithm. Then the corresponding cryptography based on elliptic curve can be established. The elliptic curve is formed by the following equation：
Elliptic curve encryption algorithm with its small key length, high safety performance, creating the whole digital signature takes less time. It has great development potential in intelligent terminal applications such as PDAs, mobile phones and so on. In the network，the ECC algorithm also guarantees the real-time performance of the cooperative network. ECC encrypts data with high sensitivity as a key, its speed can meet the requirements of large data volume. Its complexity can guarantee the security and integrity of the entire blockchain system.
BDC is the decentralized blockchain of digital assets. It is based on a digital currency issued on the BAUDCOIN system platform. Any data interaction and asset exchange across sub chains consumes the main blockchain virtual currency. When ecosystems are formed, cross-linked data interactions become high-frequency events. Lately, everyone is ware of blockchain and many businesses are taking notice of blockchain and coins. The demand of blockchain and coins will only increase. The total circulation of BDC is 500 million coins.
PhD in Computer Science(Graduated from Cambridge University), Associate Professor at Sun Yat-Sen University, IEEE Senior Member, Expert in the field of IC, Lea BAUDCOIN Financial and commercial system developer. More than 9 years of experience in blockchain.
PhD in Computer Engineering, (Graduated from the university of Freiburg, German), Associate Professor at Huaqiao university, Senior Research Fellow for source code architecture at the University of New Hampshire Dr. N. Dennis Chasteen.
PhD in Computer Science(Columbia University, California), Distributed and Blockchain venture capital BBS founding partner, Expert in both high-performance and large-scale distributed systems, More than 10 years IT experience
In future, BAUDCOIN public chain application will be permeate into each market segment of the financial business ecosystem. With national finance, business and other institutions cooperating, BDC will provide the underlying technology to open the connection between ecological application platforms related to finance and commerce and expand access to application platforms.
This project is in still work in progress, BDC will not organize any publicity and advertising promotion activities in any media. The development team will not post on Facebook, SNS Groups and other social media. The development team will also not email for recommendations. The investment and participation in blockchain carries its own risks, please be aware of the risks involved before you participate. This document is for informational purposes only, it does not constitute a relevant opinion or investment opinion on the future purchase and sale of native digital assets. It is not a contract or commitment of any kind. Once the investor participates in the private placement and or sale, he/she understands and accepts the risk of the project and is willing to take all the corresponding results or consequences. The BDC Team expressively disclaims any direct or indirect losses caused by its participation in the project. The native digital asset involved in this project is an encrypted digital encoding used on the platform and it does not represent the platform project equity, creditor's rights or control.