we are MYG CHAIN

you will get more than you expected White Paper

Motivation of MYC

Existing e-commerce giants achieve greater efficiency through centralized procurement, marketing and distribution. The trade volume of low-cost manufacturing companies has increased dramatically, and new models of retail and e-commerce have also brought consumers The lower price. These new products that are constantly being produced, and invested in convincing consumers to buy The huge cost of marketing and advertising has caused a waste of social resources, making it unused or light. The products used are constantly occupying the space in our home or entering the landfill. This is for the whole society It is a great loss, after all, we have limited resources.

MYG's Vision

MYG CHAIN hopes to use e-commerce with blockchain related technical features and model concepts The circulation system, payment system and credit system in the core module can realize the e-commerce information price Interconnection of value chains; from the perspective of users of e-commerce platforms, running on e-commerce Optimization of application process and operational architecture can greatly enhance the user's service experience while avoiding letters Risk of leakage, reducing process redundancy. Create a new market to achieve true C2C Transaction and release the value of the commodity that already exists.

A Never-ending Market

One of the main advantages of decentralized networks is the high availability of network services. This feature prevents data center failures. As long as there are some networks The node is still running and the network service can continue to operate—although the amount of service or bandwidth may fluctuate. Today's C2C marketplace applications rely on back-end services from centralized servers and IT departments. If the data center fails, the market will stop functioning. At MYG CHAI In N's blockchain network, computing power and business services can be provided by community members, which makes network services more resilient in the face of failure.

Share Inventory

In most existing C2C markets, the central operating entity determines the way in which items for sale are presented to buyers. Then sell the advertising space through the auction to extract profits. In the MYG CHAIN market for decentralization and community operations, advertising Into can return to the network itself and be shared among community members.

More Complete Supply Chain

In the e-commerce ecosystem, sellers need to source goods from suppliers and ship them to buyers. during this process, The goods have been changed many times. In traditional systems, transactions in the supply chain must be settled using fiat currency. This creates a large number of disputes and costs. In a token-based system, transactions between members of the community can be A few tokens are recorded in real time and safely. Both parties only need to convert any excess tokens into other assets from time to time on a demand basis, thereby limiting transaction costs.

Solve The Problem Of Counterfeiting

Counterfeit goods and fraud are generally a serious problem in the e-commerce market. For centralized operators, this problem must usually be reviewed. And track all the items listed on the market. But the cost of this approach is very high and inefficient, because even with the currently available technology, human reviewers The expertise is still insufficient to assess the authenticity of all possible commodities in the market. Therefore, most centralized markets can only passively process counterfeit goods, resulting in all sets. The common problem of "cat catching mice" in Chinese systems. A blockchain-based network on MYG CHAIN can help solve this problem in a more sophisticated way.

MYG CHAIN's Technical Solution

MYG CHAIN believes that blockchain-based technology and decentralized processes can further change the online marketplace and local businesses. MYG CHAIN has seen economic incentives that motivate people to actively participate in the community, with transparency and proper implementation. If this These motivations can be obtained in a variety of processes that run the market and online communities, so many of today's centralized market functions can be shared by the community. Internal members provide support and are done in a decentralized manner. This strengthens the participation and creativity of its market participants, while also making the network More dynamic and scalable.

Blockchain Technology

The core revolutionary feature of the blockchain is to change the credit mechanism that has lagged behind for thousands of years. The blockchain has multi-party consensus, transaction traceability, and cannot be tampered with. It has the advantage that traditional technology can't match in ensuring the information is credible, safe and traceable.

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POS Consensus Mechanism

On the MYG Token, the data structure of the block is divided into a Header block (Body), where The Header contains the link to the previous block hash and passes the timestamp, random number, block body content, The elements such as the hash of the previous block ensure that the chain data is irreversible; the block body records the complete information of the packaged transaction. MPT (Merkle-Patricia-Trie) uses the common prefix of the string to compress the string to improve query efficiency and save storage space.

Peer-To-Peer Network

Using P2P network technology, you can quickly and accurately route and locate data in a distributed environment. Nodes usually use the TCP protocol to establish connections with neighboring nodes. When establishing a connection, there is also a communication process of authentication "handshake", which is used to determine the protocol version, software version, node IP, block height, and so on.

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Smart Contract

Smart Contracts A smart contract is a special agreement designed to provide, validate and enforce contracts. Specifically, smart contracts are an important reason why blockchains are called “decentralized”. It allows us to perform traceable, irreversible, and secure transactions without the need for a third party.

Technical Framework Construction

From time to time, the Alliance will invite some industry executives to teach online or offline, as well as some offline industry summits, as well as invite some successful traders to conduct live live broadcasts. Due to limited resources, you need to consume MYG Token for the experience.

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contact

Blockchain technology has now swept the world. In order to prevent the impact of missed opportunities and unexpected new technologies, blockchain evangelists and strategists and planners in various industries are sparing no effort in research and promotion. Chains have also become more and more practiced at the application level. And we just need your participation to work together for the development and innovation of blockchain technology!

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