Blockchain Network
Blockchain is a distributed digital ledger technology that consists of encrypted transactions in block units and connects them to each other, and is a technology that guarantees trust and ensures safe transactions without an agency. Blockchain infrastructure guarantees transparent value exchange between platform users and operators, and provides a basis for issuing tokens used in the process of trading, distribution, and reward evaluation of content and products and exchanging them with domestic and foreign exchanges.
Blockchain structure of the platform
The ODYA platform ecosystem operates as a reliable system that cannot be decentralized and falsified based on Ethereum networks and smart contracts. It also utilizes Contract ABI (Application Binary Interface), an interface protocol that guarantees binary compatibility (the nature of machine-written programs working on other devices), to realize the portability of heterogeneous computer inter-application applications.
• Digital asset
Digital assets refer to contents that exist in the form of electronic data. Through blockchain technology, digital asset management can be decentralized, free from brokers, unreliability, and tracking by others, and a high level of transparency can be secured. The ODYA platform supports a variety of digital assets, allowing users to register and trade assets within the ODYA platform ecosystem.
• Digital identity
ODYA platform users are given digital identities, and these digital identities can be encrypted and managed by the blockchain to ensure their identity. ODYA platform users can log in using the corresponding digital identity system and use all services. In addition, details of providing liquidity, cost payment and settlement as well as transactions for receiving reward according to the service activities are stored and managed in a blockchain.
• Consensus algorithm
The ODYA platform ecosystem stores all the user's activity history and builds an evaluation system based on this. The Ethereum-based consensus algorithm method is used to ensure that anyone can understand and trust these evaluation grades or scores.
ERC-20 and ERC-721
ERC-20
The ERC-20 is the standard token specification set by the Ethereum blockchain network. It is a standard specification to ensure compatibility of tokens that can be distributed on the Ethereum network. The ERC-20 token must support the attributes of the smart contract. After designing a Decentralized Application (DApp) to meet the ERC-20 criteria, the token can be easily exchanged for Ethereum and can be freely transferred to a standard Ethereum wallet (such as My Ether Wallet, Meta Mask and others). Therefore, for tokens utilizing the Ethereum blockchain network, the ERC-20 criteria must be met.
ERC-721
ERC-721 is an open standard for the Ethereum network-based NFT that explains how to create a unique token that cannot be replaced by the Ethereum blockchain. ERC-721 implements a standard API for NFT within a smart contract, which provides a basic function for tracking and transmitting NFT. The ERC-721 standard interface allows applications to work with all NFTs in Ethereum and provides simple ERC-721 smart contracts and NFT tracking contracts.
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