EcoVerse solves daily usability and universal adoption by improving transaction times, security, and interconnectivity. The platform boasts up to a million transactions per second in a lab setting. The goal of hundreds of thousands in real use. TFT at 2 seconds. To create complex decentralized applications with an advanced array of templates on EcoVerse; as usable as fiat and credit cards, Ecoverse supports a two coin system that answers both the need for privacy and KYC/AML regulation and allows for a stable currency, optimal for the needs of e-commerce, and a utility coin growing in value.
Granting Anonymity and Veronimity: ECX and ECR used in EcoVerse require anonymity and veronimity1 depending on their use. ECX should be given anonymity because it is used as a daily payment instrument. To do this, we use a zero-knowledge proof method that can prove facts without showing any information about the proof of facts to the other party. With this method, the payment transaction itself is posted in the public blockchain, but the privacy of the counterparty and the amount of money can be protected by encryption. In contrast, since ECR is a coin with the characteristics of utility, it should provide veronimity under the assumption that it complies with KYC, AML, etc. established by the International Covenant. We collect the necessary personal information and manage it by the Foundation.
At the same time, according
to GDPR, it is necessary to guarantee the
right of individual in handling their own
personal information. For this,
implementation of Self-Sovereign
Identity is essential.
To implement Self-Sovereign Identity,
we use an encrypted off-chain database to
store personal information securely, but
we divide the personal information to be
disclosed into smaller units and register
each of them in the main-net by hashing
each. An individual can selectively
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disclose to another each piece of personal
information registered in the main-net. The
information to be disclosed is released to the
selected person after the password is released. At
the same time, the location information of the
main-net in which the information is registered is
transmitted together; information can be
confirmed through the authentication process.