VTChain is a distributed and production-level open ecosystem for building enterprise-level blockchain applications. It is committed to promoting the close connection between blockchain technology and enterprise-level product applications, making full use of the advantages of blockchain technology, and solving the increasingly obvious cost and security issues of centralized systems in the application system practice. BVT is an Ethereum-based token that can be used for incentive mechanisms for network development.

Project Nature

The project is a public welfare project, aiming to promote the development and improvement of blockchain 3.0 application technology at home and abroad. The VTChain Foundation is a public welfare organization responsible for promoting and managing the development and operation of VTChain projects.
VTChain will choose a mature opportunity to open source the project.
Based on the blockchain open source technology framework such as Bitcoin, Ethereum, Neo, Hyperledger, VTChain innovatively proposes blockchain application technology of Software as a Service (SAAS), promoting blockchain technology to quickly build commercial-grade application products, fully absorb and learn from the basic components of Bitcoin, Ethereum, Neo, Hyperledger blockchain technology, making it more suitable for the development and practice of application-level products in enterprises, developers, end users, especially in China's region.
At the same time, drawing on the technical framework design ideas of Bitcoin, Neo, Ethereum and Hyperledger, VTChain adopts a plug-in, loosely coupled modular design, suitable for developers at various levels of junior high school to build commercial-level large-scale application products. Used to build industry applications and platforms that support the business to support a wide range of business application scenarios.

Project Objectives

Since the birth of blockchain, "let everyone participate in using blockchain and enjoying the development achievements of blockchain" has become the common vision of the VTChain community. Therefore, the design goal of the VTChain project is to reconstruct the underlying architecture of blockchain, drive the needs of commercial-level applications, design for all B2B and B2C applications, and provide a domestic, interface-friendly, multi-language IDE development environment.

Application Scenarios

P2P online lending aggregation platform based on VTChain technology
Judging from the current technology application and industry status, the commercial value of blockchain technology in the financial field is most clearly visible. We will first talk about how to realize the BCLP system (Block Chain Lending Platform, hereinafter referred to as the BCLP system) based on the VTChain application platform. The BCLP system is a digital asset management system such as P2P online lending, credit sharing, information aggregation, and intelligent evaluation that uses blockchain technology and big data technology.
Online lending aggregation platform using blockchain technology has the following characteristics:
1. Identity consensus mechanism: The BCLP system requires participants to have clear and reliable identity data, and participants include debit users and lenders. The data in this aspect can be newly established in the BCLP data block or can be pulled from the existing application system. The BCLP system provides a unified API interface and tools to connect to the existing application system.
2. Information aggregation mechanism: The lending system requires sufficient reliable information on the credit of the borrower, the lender's loan limit, etc., and has the characteristics of inoperability and tampering. The BCLP system saves personal credit and lender's loan mechanism (including quota, interest rate, etc.) information on a distributed data node. Modification is not allowed without authorization of the BCLP control list (automatically controlled by the consensus mechanism). Therefore, relevant information about the BCLP system can be considered to be reasonable and effective. At the same time, BCLP provides the necessary services between borrowers and lenders through pluggable smart contract logic.
3. Big data analysis strategy: The BCLP system will connect to third-party cooperative credit platforms to collect a large amount of original data, use big data analysis strategies and distributed computing methods to intelligently evaluate the borrowing loan quota, and provide the best lending solution through the price comparison mechanism.

Automobile auction platform based on VTChain blockchain technology
In Hyperlydger's official information, the automotive auction platform based on blockchain technology is its classic application solution, because VTChain also regards it as a case so that everyone can better understand the enterprise-level application characteristics of VTChain.
In the car auction platform, there are three major elements that constitute the transaction: participants, assets and affairs. Participants include all stakeholders of the auction business, including car holders, buyers, platform managers, etc. Assets here mainly refer to digital equivalents converted from automobiles, and affairs refer to transaction events such as inquiries, auctions, and management that arise from both parties.
The platform manager first registers participants, assets and other data in the registration agency (the blockchain consensus node provides registration services), and stores it in the data node, and reaches a consensus status on all system clients through a consensus mechanism. This status includes data of each party, asset data, auction status (in auction, completed, invalidated, etc.). After the auction begins, participants begin to initiate authentication to the consensus node, obtain the permissions they are granted (managed by the control center), and obtain the authorized CA certificate. The smart contract collects its bid data and determines whether the auction is over at any time. The auction ending condition is the end of the auction time or the first price is higher, and the system will automatically end.
In this system, all participants and motor vehicles use their own unified encoding method to obtain unique identification. As the token in the auction system, the registration agency and consensus mechanism will complete the collection and verification.

*The above content is compiled by the official account of non-small accounts. If reprinted, please indicate the source.