FRAC WHITEPAPER
  • 1/Company
  • 2/Project
  • 3/Token Features
  • 4/Tokenomics
  • 5/Token Sale
  • 6/Governance
  • 7/Technology
  • 8/Financials
  • 9/Team
  • 10/Future Plans
  • 11/Risks
  • 12/Disclaimers
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7/Technology

Deep, but not complex.

Blockchain Selection

The choice of blockchain for the deployment of Frac's ecosystem of products are all EVM Compatible. The current three layer 1 chains where the Frac product has been deployed to are:

  1. Polygon

  2. BNB Smart Chain

  3. Ethereum

Polygon allows for cheap gas fees whereas BNB Smart Chain and Ethereum allows for reaching out to more audiences.

Technical Architecture

There are 3 key pillars of consideration for all technology that is developed in the Frac ecosystem.

  1. Onboarding Web2.0 users

  2. Data Integrity/Immutability

  3. Neutral-Custodianship of funds

Based on the 3 above principles, different technical components were selected to be integrated into the product(s) within the Frac ecosystem.

Please find below, a list of components and their respective functions.

Component
Function

  1. Infura (https://www.infura.io/)

Provides scalable and reliable Ethereum and IPFS infrastructure, allowing developers to connect to blockchain networks without running their own nodes

  1. AWS Cloud Service (https://aws.amazon.com/)

Amazon Web Services (AWS) offers a wide range of cloud computing services, including computing power, storage, and databases, facilitating scalable and flexible infrastructure for various applications.

  1. QuickNode (https://www.quicknode.com/)

A service that offers fast and reliable Ethereum nodes, enabling developers to access blockchain data and interact with smart contracts.

  1. Web3.Auth (https://web3auth.io/)

Allows Web2.0 Users to create self-custodial wallets without private key and seed phrase

  1. NPM (https://www.npmjs.com/)

Node Package Manager is a package manager for JavaScript programming language, facilitating the discovery, installation, and management of open-source code packages.

  1. Ethereum IPFS (https://ipfs.tech/)

Utilizes the InterPlanetary File System (IPFS) for storing metadata related to assets undergoing fractionalization on the Ethereum blockchain.

  1. WalletConnect/Metamask (https://walletconnect.com/)

Enables users to log in with self-custodial wallets like Metamask and Wallet Connect, providing secure and convenient access to decentralized applications.

  1. Moralis API (https://moralis.io/)

A backend service that simplifies and accelerates the development of decentralized applications (DApps) by offering features like user authentication, cloud storage, and blockchain data querying.

  1. Coingeck Crypto API (https://www.coingecko.com/en/api)

An API that provides cryptocurrency market data, including price, trading volume, and other relevant information, facilitating the integration of real-time crypto data into applications.

Data stored on blockchain and functions

Please find below a table of corresponding data and functions stored on the blockchain

Data
Function

  1. Asset-related documentation

To ensure immutability of data that is uploaded by Asset Owner, proving the authenticity, valuation and provenance of the asset (For eg. GIA Certification of a diamond is stored on IPFS)

  1. Metadata of minted NFT

When all of the data proving authenticity, valuation and provenance of an asset is uploaded, the next step would be to encapsulate all of that data in a NFT Thus all asset-related data is embedded as metadata as part the NFT when the NFT is minted

Once the NFT is minted, this metadata cannot be changed If the Asset Owner wishes to upload additional documents in the future, these documents will not be included in the Metadata of the NFT, and on the user's dashboard, all new documents are labeled as "new"

  1. Balance of funds used to purchase fractions at an Initial Asset Offering

In cases where there is a minimum sale condition, all funds, are held in escrow by a Smart Contract during an Initial Asset Offering. These funds, are not released until the sale is considered successful.

  1. Balance of fractions for all offered assets

All fractions are stored on-chain in either a smart contract, or post-purchase, in a fraction holder's wallet

  1. Orderbook transactions during secondary trading

The DEX (Decentralized Exchange) uses a full smart contract based orderbook for full transparency and execution of trades

  1. Connectivity to the Internet for IoT/GPS Mapping

To ensure that GPS data cannot be tampered via hotspots, the Helium network is used to transmit data: A demo can be found here: https://iot.nibiaa.com/dashboard/00726980-90e6-11ee-8458-2d8a58e0a927?publicId=ced07210-98af-11ee-8458-2d8a58e0a927

  1. Off-chain logistical data

For rare cases where the asset undergoes transportation from point A to point B, the transportation process of the asset is recorded on-chain as well using specialized NFC tags from Vechain

  1. Users' wallet balances

In cases where the users utilize a self-custodial method to purchase fractions, all balances and user funds' are stored on-chain and fully executed on-chain as well

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Last updated 8 months ago

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