Dear followers, thanks for your followership, comments and feedbacks, i am here today to introduce to you one of its kind and amazing project, by the name Grabity, a public Blockchain project, for the transformation of the Internet paradigm from centralized network to a distributed network. the project and its idea has largely dominated the cryptocurrency industry by leveraging the blockchain technology despite the bearish market.
Before we go further on today’s topic, let’s remind ourselves what Blockchain technology is and its advantage.
WHAT IS BLOCKCHAIN
According to wikipedia, Blockchain is originally known as bloc chain, It is a growing list of records known as blocks which is linked using cryptography, each of these blocks contain a cryptographic hash of the initial block, a transaction data and a time stamp.
Since its emergence in the year 2008, when Nakamoto satoshi discovered and introduced bitcoin, there has been serious efforts to integrate the blockchain technology into several aspects of various process of global business , The blockchain technology has been described as having the potential to disrupt many industries with immutability, low-cost transaction, and enhanced maximum security. So many other blockchain implementations have been deployed and developed with unique features designed to specific use-cases.
The blockchain technology has made possible to issue assets through a distributed ledger framework. With cryptocurrency tokens, Assets can be given economic value in order to validate and initiate transactional processes.
ADVANTAGES OF BLOCKCHAIN:
Now that we have reminded ourselves of what blockchain technology is, let’s look into the subject matter.
OVERVIEW IS GRABITY
Grabity is a public Blockchain project, for the transformation of the Internet paradigm from centralized network to a distributed network. Current hardware performance has improved dramatically, even enough for smartphones to have better performance than previous servers. However, it does not use 100% of storage space or computing power. Anyone can share computer resources through already-possessed idle devices such as smartphones, tablets, and PCs, and users can receive rewards as much as they provide resources, and DApp developers can use the shared computer resources to operate services at a lower cost. When the Grabity project reaches the commercialization stage, anyone will be able to make the use of distributed nodes to switch the Internet paradigm.
ABOUT ORBITS NETWORK
The Orbits Network is Grabity’s decentralized main net that draw a truly distributed P2P network by utilizing all wired/wirelessly connected idle computer resources. Transactions from Orbits Network are managed efficiently through using Genesis Hoisting technology, which can process transactions simultaneously and quickly. In addition, Smart Contract and resource files can be stored in separate portions into each by using the distributed storage technology and Defrag Function technology that can recall each part and execute in a streaming format.
Network layer
P2P-based overlay network. Verify and then propagate the transactions between nodes through the layer. The principal is to make the most use of basic network bandwidth.
Data Layer
Blockchain data structure and physical storage space. Includes Merkle Tree, Hash Function, Data Block, digital sign and etc. that store blocks and DApp files containing the transaction history.
Consensus Layer
Node that generates a transaction directly verifies its own transaction, and the transaction that has been verified by majority of certain nearby nodes is generated as a block. This is distributed to other nodes, and if there are any nodes that is determined to be malicious attacks, the transaction details are initialized and synchronized to the verified transaction details.
Application Layer
Provide the application interface on top of the Blockchain. Smart Contracts, virtual machines, DApp, etc. are included and directly linked between the data users.
Management Layer
Toolkit and SDK are provided to form the development of ecosystem and located the 3rd Party.
Planet Wallet
Make your own planet
Planet Wallet is the node client and official wallet of the Orbits Network. In order to secure the users, Planet Wallet will be released before the launch of the main net with the function of transferring token conveniently through mobile phone number, along with storing and transferring token in the application between exchanges. After the main net launch, node application function and DApp Store will be added.
The DApp Store
The value of the main net depends on the number of DApp. Most DApp users come from existing application users, so Grabity provides a familiar DApp Store for existing application users. Since the essential requirement to use DApp is the unrestricted storage space and transaction of tokens, DApp Store will be released on PC and mobile versions associated with other wallets and exchanges. The DApp Store is classified into various categories such as game, finance, social networking, media, health, education, music, etc. and the ranking system is based on an algorithm that comprehensively consider daily average number of users, satisfaction, transaction, and development.
About The Grabity Ecosystem
The Grabity ecosystem consists of nodes, community, DApp, and platforms, and each institute contributes to the ecosystem based on the token economy. Grabity presents the token economy and various requirements for the ecosystem to function and develop as follows.
Token Economy
Demand for GBT
Consumers who need computer resources should purchase GBT.
Need to purchase GBT to participate the in the ICO on the Orbits Network-based DApp
GBT is DApp’s main currency, and if DApp’s users increase, demand can increase.
The reward for providing computer resources after the main net launch can be expected to increase the demand for GBT, determined from the additional computer resources and GBT.
Supply of GBT
The initial 10,000,000,000 GBT for the development and operation of the project are issued from the Ethereum network. The ERC20-based GBT will be replaced with the Orbits Network-based GBT after the main net launch. In addition, since the main net, GBTs are issued in addition to consideration of the inflation rate for the purpose of compensating computer resource providers. The rate of inflation can be flexible, but will be determined in a way that does not exceed 5% to protect token holders and ecosystem participants.
GBT ecosystem entry incentives
The consumers of computer resources can use the Orbits Network using GBT for less than the cost of building or maintaining existing servers, and the provider of computer resources can obtain GBT by providing Orbits Network with idle resources or extra devices of their own devices.
Token Sale Details
Total Token amount: 10,000,000,000 GBT
Token Token sale amount: 7,000,000,000 GBT
Percentage of sales Token from total Token: 70%
Hard cap : 30,000,000 USD
Soft cap : 10,000,000 USD
Tokens except for the pre-sale and public sale are sold in private rounds.
Unsold tokens are due to be incinerated.
Pre Sale
Token Sale Rate:20%
Bonus:10%
Public Sale
Token Sale Rate: 30%
Bonus: 0%
Token Distribution
RoadMap
2018 Q4
Smart contract Deploy
ERC20 based Token issue
GBT Pre-Sale
2019 Q1
Network Layer Development
(P2P-based overlay network)
Planet Wallet Launching
GBT Public-Sale
2019 Q2
Data Layer Development
Consensus Layer Development
2019 Q3
Testnet Launching
Toolkit & SDK Development
Block Explorer Development
2019 Q4
Application Layer Development
2020 Q1
Management Layer Development
2020 Q2
Orbits Network Launching
GBT-based DEX, DApp Store Launching
Meet The Amazing Team
Advisors
NOTE: This article is just a guide to prospective clients, investors and every person scorching for a slice of this amazing project,
You can get more information about these project with huge potential by following the link below:
WEBSITE: https://grabity.io/
FACEBOOK: https://www.facebook.com/Grabity.io
TWITTER: https://twitter.com/GrabityOfficial
TELEGRAM: https://t.me/GrabityENG
PUBLISHER
Asarab
BITCOINTALK PROFILE: https://bitcointalk.org/index.php?action=profile;u=2320820
