BitCV (BCV) focuses on blockchain digital asset management, and technically researches and transforms the underlying layer of blockchain, builds support for cross-chain and fast payments, and at the same time implements the application layer, enters the gadgets, supports a more complete ecosystem, provides professional services for social operations, and creates a better infrastructure.

Project Introduction

BitCV digital asset management technology service engine hopes to serve digital asset holders, project parties and investors with the lowest threshold, and solve the de-mediation and credibility and transparency of service processes in the digital asset management link through product experience and underlying asset management basic chain. Based on the improvement of underlying technologies, we will introduce services into BitCV products, empower our capabilities to collaborate with manufacturers, and provide convenient and professional digital asset management services and entrances to achieve healthy development of the industry ecosystem.
In the process of digital assetization of a project, a large amount of technical services is required. There are two specific reasons: one is that the digital asset project itself requires a lot of technical experience and accumulation; the other is that many technical and service processes in the process of assetization and asset management lack standards. This has brought us a lot of opportunities.

Project Vision

BitCV, as the underlying service engine of blockchain asset management, provides tools and underlying infrastructure, while the upper-level operation is an open platform and community model. In this model, BitCV is not a key decision-maker in operation, but a community contributor to formulate rules, maintain systems, and does not directly operate and serve businesses in the entire ecosystem. Holding BCV is an important criterion for entering the community, and it is divided into the following two statements:

Value Discovery of Community Consensus
Holding BCV means joining the community and you can obtain unique services and rights. For example, the opening and investment and financing of funds can enjoy priority participation. In addition to technical evaluations, important decisions are also left to important nodes of the community to make joint decisions. In an ideal future, BitCV official gradually does not set up reviews, edits, or a centralized operation and management team. For users who own BCV, they can serve as a community participation node to vote on the projects to be financed. The weight of their voting will be determined based on the amount of BCV owned and the reputation of other communities. When the open project reaches a certain number of votes, it will enter the professional review stage and finally open the investment and financing function. Centralized review has shortcomings such as many review links, strong subjectivity, and narrow understanding of reviewers. It cannot meet the needs of investors in the current market, thus missing opportunities. The setting of community operation methods avoids this deficiency.

Point-to-point professional tools and services
The system architecture of BitCV is divided into three parts: underlying infrastructure, application tool platform, and professional asset management services. The underlying infrastructure, application tool platform, such as wallet, is developed by the BitCV team, is implemented and designed for rules, and runs on the blockchain. However, the asset management tools themselves will be open to cooperative manufacturers as much as possible, and tools cannot be separated from professional services. Professional services will also be open to the community for participation, allowing people who need asset management services to directly connect with professionals through the platform, and the platform provides tool auxiliary services. A key link in this is in addition to tools, it is the judgment of professionals and levels. This judgment is based on two starting points: one is the past behavior and performance on the platform, and the second is the voting and recognition of professionals who have already received ratings and recognition. This screens people who commit fraud during the service behavior. During the entire process, for individuals, holding BCV is the basis for enjoying services. When the expenses are consumed, you can enjoy different service discounts based on the magnitude of holding BCV. If you are a project party, you can also enjoy customized free or discounted services in tools and services based on your BCV.

Application Scenarios

BitCV Digital Asset Management Chain (BCV Chain)
Blockchain technology is born with a point-to-point payment system and it also serves the financial field. In the field of digital asset management, the transaction characteristics are rich and diverse, and it has higher requirements for efficiency, and is closely related to other public chains. However, the existing public chain cannot meet these needs, so we developed the BitCV digital asset management chain (BCV Chain) to complete low-cost and efficient accounting with unique attributes of asset management. This is also a public chain in the vertical field of asset management, which we are developing based on related technologies of Ethereum, Bitcoin stocks and Bitcoin networks. At the same time, it provides SDK to serve the project party and makes digital asset management efficient, safe and reliable. The digital asset management chain is reflected in the following four characteristics in the entire asset management service system:

1) Demediation
Traditional asset management behaviors include a large number of manual participation and audit behaviors of central institutions. The underlying layer of BitCV digital asset management is based on blockchain and smart contract technology. Each digital asset transaction of asset management has its own transaction characteristics and is recorded on the blockchain. At the same time, it triggers automatic execution based on the logic scheduled in the smart contract. This not only takes advantage of the blockchain's information that cannot be forged and tampered, but also eliminates intermediary and centralized audits. Even if someone's services are provided, they are carried out by professionals and investors on a point-to-point basis. BitCV only provides technical platforms and services.

2) Trusted and transparent
The opacity of the traditional asset management process, that is, the opacity of capital flow, has led to the loss of control of asset management and even relatively vicious events. Based on the BitCV digital asset management chain, each capital flow and exchange of investment and financing are very clearly traceable, and are also related to other public chains. You can track it to public chain networks such as Ether through BCV Chain to more clearly view the value-added income of assets and the source of transaction funds, which makes asset management more trustworthy, transparent and healthy. Although it is anonymous on the blockchain, some asset flows may require some display names, such as the exclusive account of the asset target, which should be able to display the real asset party. This is actually a credible and transparent need. For individual users, of course, it is anonymous and requires privacy protection.

3) Cross-chain redemption
Since you are engaged in digital asset management, the most important thing is to exchange assets between them. Unlike ordinary exchanges, mutual exchange is based on the exchange of major assets such as BTC, ETH, and USDT. The asset management platform should support the exchange of any type of digital asset. The underlying layer is based on the smart contract interface, so that existing wallets can accept any existing or future digital assets or tokens without modifying the password of the digital asset contract, such as the current ERC20 token, which can be easily stored on the Ethereum wallet. Payment for the new ERC20 token can be automatically performed without changing the program structure. Therefore, the user's own digital asset type can be configured when creating a project in the background and the user can automatically complete the redemption. For ordinary digital assets, fund pools or cross-ledger agreements can be used to support payments across digital asset classes.

4) Efficient transaction
For the payment and incoming of digital assets in the asset management system, if it is based on the traditional Bitcoin network and Ethereum network, its user system is extremely poor, so requirements are also put forward for efficient transactions between assets. The account management mechanism adopted by the over-the-counter trading platform can be adopted, and a more efficient trading mechanism can be assisted. In terms of the implementation of specific blockchain technology, we have adopted side chain technology to ensure efficient and secure cross-chain transactions. But essentially, blockchain assets themselves are difficult and unnecessary to realize the value of efficient transactions and payments, but more of the value of the assets.

Safe and easy to use BitCV wallet

Convenient and easy to use
From the beginning of the prototype design, BitCV wallet has been based on the safety and reliability of assets, focusing on reducing user learning costs. It has made a lot of optimizations in terms of registration process, transfer and collection steps, and tried to be as close to the usage habits of traditional financial products users, and turned BitCV wallet into the first product for users to enter the digital asset field. BitCV Wallet is a cross-chain multi-currency wallet. Currently, the supported currencies include Bitcoin, Ethereum, ERC20 tokens and Dogecoin. More currencies will be added in the future. BitCV wallet has a built-in hot wallet function, and users can transfer money in the wallet to the account in seconds, solving the problem of slow transfer time at present.

Wallets that can be mined
As a product based on blockchain technology, BitCV wallet embraces the decentralized thinking model of blockchain. We believe that all users who use BitCV wallet products have contributed to the BitCV community. Users log in, transfer money, use collaborative manufacturers services, recommend friends to register, etc. every day, increase the activity of the BitCV community and should receive corresponding rewards. The BitCV Foundation has set aside 120 million BCVs for wallet mining. According to the total activity of users, a certain amount of BCV is distributed to users every day, and all of them will be distributed in 2038.

Combination of hot and cold wallets
In order to take into account the speed and security of transfers, BitCV wallet will support both cold wallets and hot wallets. Users can store small assets in hot wallets for a better user experience and store large assets in cold wallets with higher security. On the server side, a strict hot and cold wallet signature communication mechanism was designed from the beginning to ensure the security of assets.

Open tools and services

The need to create rich application scenarios
Using wallets as the carrier platform and entrance for users, in addition to providing users with the functions of saving and transferring digital assets, BitCV wallets, especially hot wallets, hope to give digital assets more application scenarios, such as payment, betting, financial management, etc. The development of more service scenarios cannot rely solely on their own teams and development forces. Tools and services need to be developed to cooperate with manufacturers and service providers to provide users with more scenarios for digital asset management and applications. These scenarios include but are not limited to investment and financing management tools, game services, and other scenarios involving digital asset management.

BitCV SDK provides API support for collaborative manufacturers
In order to better serve the community, BitCV will provide SDK and API interface services to collaborative manufacturers and developers. Developers can use the BitCV SDK to call transfers in the BitCV wallet, create addresses, account credit inquiries and other services, and provide services in the BitCV community and obtain profits. At the same time, we will provide the underlying support of the wallet for blockchain applications. Through simple access, the application can obtain safe and easy-to-use wallet functions and services, and can also access the payment interface of BitCV wallet, and provide a statistical backend to facilitate project management.

Platform wallet
The traditional digital asset wallet application is a low-frequency usage tool that users will only use when transferring money and viewing their own assets. The behavioral mining mechanism of BitCV wallet, as well as the hot wallet system and service account system, create more usage scenarios for users, and the frequency of using BitCV wallet is very high, making BitCV wallet a convenient platform to connect with C-end users and B-end service providers.

Open Community
Decentralized social organizations are the organizational structure that is most in line with the blockchain model. BitCV digital asset community is divided into two parts: user community and developer community. Whether it is a service provider or a user in the community, any behavior that increases community activity can receive BCV rewards. At the same time, BCV is also a circulation certificate in the community and can be used to purchase digital asset management services. In the developer community, nodes that provide computing power support for the BCVChain main network can receive BCV as a miner's fee, and community members who contribute to the BitCV open source community and BitCV chain technology can also receive BCV rewards.

Technical Overview

BitCV is an application-oriented blockchain product. We use blockchain and existing technologies to serve the digital asset management field. In principle, we do not do our own large-scale underlying chain research and development design, but according to current preliminary research and development, we have used and enhanced the use of the following technologies.

1. Blockchain distributed ledger technology
The reason why Satoshi Nakamoto used blockchain technology at the bottom of Bitcoin is that the peer-to-peer payment solved by Bitcoin itself needs to be built on a trusted accounting, while blockchain technology is because every accounting is related to the previous and subsequent accounts.
In the next transaction, the verification and signature of the previous transaction are saved. If you want to modify one of the transactions, you have to modify all the subsequent transactions. The transaction itself is growing rapidly, especially in the case of large-scale distribution, making tampering and forgery actually unfeasible.
In terms of specific technical implementation and transaction transactions, after a transaction data block is generated, we use the SHA-256 algorithm, combine the initiator's private key to generate a signature, append it to the data block, and then repeat this way. If a transaction operates with multiple transaction steps, multiple step signatures will be added.
BitCV uses blockchain technology to record all transaction behaviors involving funds, first record and transactions on the side chain or off-chain, and finally write it to the main chain of the BitCV asset management chain to ensure that the main chain of the asset management chain is a blockchain that cannot be tampered with and forged as the transaction records grow.

2. Sidechain cross-chain trading technology
One of the biggest problems and bottlenecks in current blockchain technology is the relative complexity of transaction records delay and confirmation. For a basic platform, this consensus confirmation mechanism is acceptable, and even for cross-border payments, this delay is acceptable. After all, traditional cross-border payments are calculated in a day. However, for small and high-frequency transactions, current transactions have become extremely poor user experience. Therefore, in the BitCV asset management platform, we will use two technologies to accelerate the confirmation and account of transactions and finally write them to the main chain.
Point-to-point efficient distributed accounting. This kind of accounting is also quite common. For example, on exchanges, whether it is transactions between OTC or digital assets, accounting is instantly received. The problem with this accounting method is a traditional database operation, and blockchain digital asset transfers still have to be maintained separately. What users see is that the database takes effect quickly and the underlying transaction processing is actually delayed. We hope to ensure that the blockchain digital assets themselves are more instant transactions and can support cross-chain, so BitCV adopts side chain technology. After comprehensively evaluating various technologies, we chose the LISK platform.
Here is a general explanation of side chain technology:
Sidechain technology is designed to solve the complexity and long-term transaction confirmation on the main chain. To a certain extent, while keeping the main chain funds locked, efficient transactions with low confirmation are achieved on the side chain. After the transaction is completed, it will be triggered according to the conditions and then returned to the main chain.

3.DPOS consensus algorithm
BitCV is currently building its own asset management chain based on Ethereum and LISK, using the DPOS consensus algorithm.
The traditional POW proof of work algorithm is suitable for scenarios where a large number of operations are required to confirm proof of work, that is, scenarios where computing power is used to generate digital assets. What BitCV needs is fast and efficient confirmation of transactions, so we adopted the DPOS algorithm invented by BitShares. Of course, in addition to this, we also consider using an intermediate reserve fund pool to support the rapid exchange and transfer of various digital assets.
Within a blockchain service system, the DPOS algorithm has N nodes signing the blocks. This node is generated by nodes using the blockchain network de-mediated voting, which ensures correctness and no bias. At the same time, the currently signed blocks have proof that the previous block was signed by the trusted node. DPoS eliminates the time spent on transactions that require confirmation. Between blockchain systems, intermediate accounts mechanisms will be used to quickly exchange assets.

4. Smart Contract Technology
The emergence of digital assets has enabled payments to be truly peer-to-peer, and behind payments is often the fulfillment of contracts. Therefore, the Ethereum system has improved the shortcomings of Bitcoin in contract writing, making smart contracts truly easy to implement. A smart contract is an application or code running in an Ethereum Virtual Machine (EVM). It is triggered by external transaction requests (not necessarily payment requests, but can be a 0-fee payment command) and event. By triggering the running of the contract logic written in advance, new transactions and events are completed, and even a smart contract can call another smart contract.
For each transaction in asset management, in addition to recording it on the blockchain, smart contracts are also written in advance and deployed on the Ethereum platform. Wait for the transaction between the two parties to the transaction to actually occur, and instructions to trigger the smart contract. For example, if a user purchases a target guaranteed and value-added service, the purchase cycle of the product is 30 days, the annualized income is 15%, and the time, income ratio, etc. are all written in a smart contract. After the investor purchases, the relevant assets are sent to the smart contract, the transfer is completed, and the target account is entered. After the time expires, the income smart contract will be automatically triggered, and the related income will be automatically deducted from the target account and returned to the investor. The transaction records are stored, and the payment process follows the end of the service, the smart contract is automatically executed, and the transaction closed loop is completed. Some people may think that traditional timing programs can also do this operation, but the past practices were centralized and contracts were not public. Smart contracts based on blockchain technology, Ethereum platform or other basic chain platforms are operated in a de-mediated manner, and the contract code is also visible to everyone.
To sum up, as an application product, we rely on blockchain technology to build BitCV asset management chain, and at the same time expand and enhance underlying technology. However, at present, it is feasible to quickly implement it using relatively mature technologies.

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