VName - A Decentralized Address Verification System

In this 21 century, the world of innovative & investment phase there has been an overwhelming development of the blockchain and cryptographic market. The development has been dynamic to the point where specific related problems, safety and user remain uncertain. From VName we believe that by limiting human error in leading exchanges:
• will expand the infiltration of cryptocurrency;
• there will be a decrease in the lower capacities obtained from the wrongly executed exchanges;
• improvement of value-based security by having a confirmation framework;
• the customer will feel better when he does the exchange.

Create mechanisms that investors uses in simpler, faster and safer transactions without compromising the privacy and information of users. The universal access point for every investors are to validate each blockchain address works via a wallet where the individual assets is secured to be able to carry out a transaction process. Wallets differ from one another, a bitcoin wallet differs from an ethereum wallet and so on but they are all made up of decrypted passwords individuals input while creating them. The password is encrypted into numbers and letter both in upper and lower case. For example the ethereum address is made up of forty two character. Any mistake in any of this characters while making a transaction will lead to the loss of such transaction and asset involved. The transaction is lots to different factors.

To manage these problems featured above are requirement for a system that encourages the current transaction mechanism. This ought to be simple means which must be simple for people utilizing it and mustn't complicate the user privacy for fast and secure transaction means.

What's VNAME?
VName works by eliminating nicknames from customers, and likewise, blockchain stages where their address has a place at, and if the name is checked, in the task obtained by their address. It works in a route with the point that you can just know someone's nickname since you additionally have their address, in no other way. The closest reference to a nicknamed address is an empty hash, which is just used to check the address of a nickname from outside the task and which can not be returned to the address by any means. This is required to have the capacity to use VName to confirm that someone's address is, however anticipates that it will be able to refer the address request by using the nickname.

How VNAME Works?
In simple terms, VName works by matching a user blockchain address with a nickname. A user enters the destination address of the transaction and our help script identifies this entry and automatically displays the correct nickname. Users can quickly verify, without any change in the way they currently perform transactions, whether the intended recipient of the transaction is indeed intended. This image is just a simple demonstration of how VName will integrate with existing sites (such as exchanges, wallets). Information and presentation may vary.
When entering an address, the VName script automatically detects the blockchain type and matches the nickname. Displays this informal text with the option to expand it for more information. This works for every site that imports our JavaScript. The browser extension works, which will remove the need for certain sites to import our vname.js and will automatically detect addresses on the visited sites and display related information. The information will contain: 1.Nickname for that address.
If this nickname is verified or not
The address itself.
Optional description for this address
Other information may be added in the near future.

VNAME Token
The NAME token protocol based off the ERC-20 and ERC-223 standard called COALITE, This protocol allows the user to call the transfer function for NAME and send the adequate amount of tokens to the VName contract, which then accepts the sent tokens and verifies the nickname only if the right amount was sent.
In the event that an incorrect amount is sent, the VName contract will revert the transfer preventing the tokens from being taken out of the user’s balance.
The financing mechanism selected will be in DAICO format by issuing VName Tokens under the NAME code. Investors are informed that this financing mechanism will be the complement of the one already used where 10% of NAME were acquired by private investors. The 10% was valued at USD 1,075,000 at the end of 2017. The issuance of tokens will be of NAME 300,000,000 that will be divided:
• 10% was acquired by private investors.
• 10% in incentives to generate strategic alliances with the blockchain wallets and exchanges.
• 10% will remain in the hands of the founders of VNAME.
• 5% will be used for bounty programs.
• 3% destined to advisors.
• 62% destined to the DAICO.

VName decentralized technology is trading at a low risk of transaction potential markets because of the rapidly increasing acceptance of the new age global transformation. Transactions must be performed on these various addresses in various exchanger platforms.

Distribution


A Soft Capital NAME 60 million must be achieved, achieving the equivalent of total Pre-Sale sales. When investing in VName, investments made by the token holder will be used for business development. After identifying the key areas that will shape the business and estimating their budget, token holders are informed that their investment use.

Destination Of Financing

Businesses is evaluated from a holistic perspective making the VNAME team considers the global success is associated to the different angles of the business, for which the budgets were evaluated independently. The financing model contains the main benefits of its predecessors, the DAOs (Decentralized Autonomous Organizations) and the ICO (Initial Coin Offering). The model was proposed by the founder of Ethereum with the aim of obtaining a less risky financing for investors in a decentralized manner. The DAICO format allows token holders to control the withdrawal of funds, while also allowing to close the project in case the team fails in the development, realization or execution of this.

The DAICO consists of three primary phases:

• Announcement phase
• Investment phase
• Development phase

MAIN DAICO FEATURES

The main points of the DAICO insured by the Intelligent Contract will be the following:

• Tap will initially be settled to 100,000 gwei / sec. Which is equal to 0.0001 eth / sec. This sets a weekly limit of withdrawal to around 60 eth / week. These withdrawals will be to guarantee the operation and improvement of VName.
• In case an increase in the withdrawal limit is necessary, said increase will be submitted to a vote where all the NAME holders will participate. The system will be through a simple majority.
• To create a withdrawal limit increase poll, at least 15 days since the last poll must elapse.
• To reduce the risk of voting fraud, each token holder that has voted will get their tokens frozen 1 hour before to 1 hour after voting finishes.
• The date and duration of polls will be announced at least 48 hours in advance, otherwise, they cannot be created.
• The withdrawal poll will be considered valid if a minimum of 20% of the holders of NAME participates.
• The project closure poll will be considered valid if a minimum of 70% of the holders of NAME participates

VName team is the only party able to create withdrawal limit polls. Any token holder is able to create a poll for dissolving the company. In this case of closure, the funds will be sent to the accounts of the token holders based on their participation.
The DAICO smart contract uses a Poll Factory Smart Contract to create Drafts and Polls.

Solutions The Platform Offers

• Identify a problem & work on the solution
• VName project validation
• Functional Demo on Ropsten Network
• Exchanges’ listing agreements
• Worked on exchanges using VNAME API agreement
• DAICO, polls and voting research and whitepaper.

ROADMAP

What we’ve done
• Identify a problem & work on the solution
• VName project validation
• Functional Demo on Ropsten Network
• Exchanges’ listing agreements
• Worked on exchanges using VNAME API agreement
• DAICO, polls and voting research and whitepaper.

Day Zero — March 14, 2018
• Website launch
• BitcoinTalk post
• VName Whitepaper v1.0 upload

The future
Q2 2018:

• DAICO begins
• Public API (JavaScript)
• Voting polls and standard whitepaper
• VNAME browser extension.
• Exchange Listing

Q3 2018:

• Verified nicknames market
• Integration with several wallets and exchanges
• Implementation of addresses verification in different blockchains/ cryptocurrencies
• Integration with ENS for automatic purchase.

Q4 2018:

• Adding additional data to nick registration (color, bold, font, and more).
• Regular work to add compatibility to more cryptocurrency blockchains.
• Migration of VName to its own blockchain network.

Investing in this great platform to eliminate transaction risks & enjoy optimum service in the decentralized VName technology today.

Team

Federico Sendra: CEO
Solval, Korea: CTO
Andre Tuentman: Manager
Ilan Garcia: Blocking Developer
Florencia Pereira: Full Stack Developer
Sebastian Pugliese: Headquarters of Digital Marketing
Gabriel Oltarz: Legal and Operational
Laura Glavitz: Torture

For More Information:
Website:
Whitepaper:
ANNThread:
Facebook:
Twitter:
Telegram:
Authored By: Richard Dra Ayebaesin
Bitcointalk Username: Steavenson19
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1785579