Yoc is a fully decentralized platform. Its main function is an opportunity to create and place smart contracts and the decentralized applications on its basis. It is difficult to overestimate the advantages of these applications since they minimize any risks connected with different types of activity. The management of finance when the ICO is carried out, service insurance, trade, logistics, the creation of partner programs, the creation of new platforms for gamblings are the most popular spheres of use of these contracts and applications nowadays. It is an incomplete list of potential opportunities of the blockchain technology use. The Yoc platforms allow involving in a simple and convenient way to use the full resources of the most modern and advanced technologies existing nowadays.
The Yocoin platform is also not deprived of the ability to create and deploy Decentralized apps based on it.
Principal categories of these apps are:
The First category – financial apps that provide users with powerful ways to manage contracts and award of contracts for their assets. Examples of such apps – sub currencies, financial derivatives, hedging contracts, savings wallets, wills and even some types of employment contracts.
The Second category – semi financial apps, apps involving also non-monetary tangible benefits; perfect example here is self-executing rewards for solving significant computing tasks.
The Third category – non-financial apps such as online voting and decentralized management.
What offers Yocoin platform and how it works?
Yocoin is a full-fledged platform for guaranteed processing. The main advantages can be stated as follows:
- user authentication through cryptographic signatures;
- fully customizable transaction logic and state changes;
- is resistant to DDoS attacks;
- no single point of network failure;
History of all network activities is stored in the public domain in decentralized distributed database (Blockchain).
PAYMENTS FOR STORAGE USING
Generally, the higher the gas price is, which the sender wants to pay, the higher the reward received by the miner as a result of the transaction. Moreover, the more likely the miner will make a choice in its favor. Thus, the miners are free to choose which transactions they want to validate, and which transactions they can ignore. Frequently miners tell the senders what gas price they should request, so that the first ones are ready to execute the transactions.
Payments for storage using
The gas is used not only to pay for certain computations but also to disburse the storage using. The total storage usage fee is 32 bytes. The issue of storage payment has some nuances. For example, since the augmentation of the storage space involves increasing the size of the Yocoin status database, and this applies to all nodes, you just have the incentive to store only a relatively small amount of data. As can be seen from above, if any of the transaction stages involves the record withdrawal in the storage, then the payment for the performance of this operation is not collected, and due to the release of the place in the storage, the losses will also be reimbursed.
Why charge is required?
An important aspect of Yocoin’s work is that any operation that is performed by the network is also performed at the same time by each full node. However, all the steps involved in Yocoin virtual machine computing are extremely expensive. So, Yocoin smart contracts can be quite useful for solving effortless tasks (f.ex., launching simple business logic, verifying signatures, as well as other operations related to crypto currency), as distinct from cases where other, more complex tasks are required: storage files or e-mail, as well as performing tasks from the field of machine learning, which can cause excessive network load. Charge implementation prevents users from taking actions to overload the network. Yocoin uses Turing complete language. Briefly, Turing machine is a machine that simulates any computer algorithm. Thanks to such a feature, it becomes possible in Yocoin to use loops, and this makes it susceptible to the stopping problem – a problem in the case of which you cannot determine whether the program will function indefinitely or not.