AUC Mainnet
The AUC ecosystem encompasses all transaction data generated in the daily lives of participants, resulting in a massive amount of data and requests for record-keeping. While blockchain must be capable of managing large amounts of data and transactions, using Ethereum for AUC's initial token issuance may result in slowing down or making it difficult to use due to Ethereum's limited capacity. Public blockchains, which are typically secured by a diverse range of nodes, are known to have slow transfer speeds. Therefore, the Advanced Project plans to operate on both private and public blockchains in a two-track system to ensure an efficient and cost-effective ecosystem.
Initially, AUC will be constructed in the form of a private sidechain based on Ethereum to provide stable and reliable service while excluding transaction fees and ensuring performance stability. AUC's private blockchain separates the business layer from the blockchain layer based on the service characteristics of the AUC Financial Platform and develops a separate blockchain network bridge to ensure compatibility and scalability to link with any mainnet. In addition, for collaboration with public institutions and existing financial institutions, en-Cash will be issued using a private blockchain for DID authentication, credit information, and personal information protection.
en-Cash is a Digital point pegged to the same value as RAND(ZAR), the legal currency of South Africa. en-Cash is a closed currency that is used only within the AUC ecosystem, not for general purpose, and there is a payment deposit for its value. en-Cash is designed to be exchangeable with AUC on the AUC financial platform. In the future, as the network expands and becomes more widely used, it will transition to the AUC public blockchain. At that time, the existing AUC token based on Ethereum will be converted to AUC coin.
The AUC public blockchain implements a Proven of Approval (PoA) consensus algorithm to process transactions faster and more accurately. PoA is a consensus mechanism in which authorized institutions prove nodes that meet certain conditions to reach consensus among them. Unlike other consensus algorithms, PoA does not require mining and is faster and easier to scale. All transactions and blocks are processed by validators who replace miners, so there is no need to use a lot of resources to maintain network performance and the speed is faster.
In addition, the AUC public blockchain is developed as a platform that can support various B2C blockchain services. Like Ethereum's dApps, it is possible to issue self-tokens for various services on the AUC mainnet, and these sub-tokens can be transferred on the AUC mainnet and protocol layer, enabling fast transactions.
AUC mainnet supports the creation of both public and private repositories. Repositories are a type of code hosting platform for developers and include actual software program code being developed for projects. The goal of public repositories is to build a shared, open, decentralized infrastructure for dApps, while private repositories serve as a controlled, secure, and private infrastructure for dApps.
AUC Mainnet (private/public) provides AUC Scan, a tool to verify network data. AUC Scan provides search results of all transactions and log records that occurred in the AUC network, without any manipulation or modification. Real-time data is provided whenever users check the amount and transaction history of all tokens used or issued in transactions, including AUC coin.
Also, AUC Mainnet provides protocols for NFT and DeFi services. Financial services are available for cryptocurrency deposits, loans, interests, and all aspects of digital assets, including NFT. Network fees for all transactions are paid with AUC coin, and low network fees eliminate inconvenience for both users and dApp developers, making mass adoption possible.
In addition to AUC Mainnet's own API, various AUC service modules, such as payment settlement modules, cloud service modules, messengers, etc. will be provided as APIs to accelerate the development speed of the dApps that are installed. Eventually, these modules will be applied as a single smart contract. The top of the AUC Mainnet includes decentralized data and AUC dApps store, where users can freely use dApps created and operated by external developers.
Due to the need for real-time payments and transactions in everyday life, the current AUC token is planned to undergo a transition to the mainnet with the application of Ethereum Account Abstraction and Zero-Knowledge Proof systems. By implementing ERC-4337, which is a proposal for Ethereum Account Abstraction on the AUC mainnet, we will introduce new verification logic into user wallets. This will enable wallet developers to implement features such as built-in multi-signature, social recovery, and new signature algorithms. Additionally, gas fee support through account abstraction will alleviate the inefficiencies of the existing payment systems, potentially attracting users who perceive blockchain payment systems as complex. In cases where there is insufficient ETH to pay fees, users will have the flexibility to pay with other ERC-20 tokens or even avoid gas fees altogether, making the utilization of the AUC mainnet's blockchain payment system more versatile.
However, it is imperative to enhance the security aspects of the account abstraction system. To reinforce security and enhance privacy, the AUC public blockchain intends to leverage Zero-Knowledge Proofs. This technology allows users to disclose only the necessary information when proving the validity of specific transactions, while keeping the rest of the information concealed. Consequently, it maintains both transparency in the blockchain network and privacy protection, preventing unauthorized exposure of user data on the blockchain.
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