AllStocks System Architecture and Ecosystem Implementation

AllStocks’ System Architecture entails that traditional financial assets are permitted to do trading on the platform which entails factors such as public blockchain, Crypto exchanges, Application layer, Stamper, etc. It’s also vital to implement its ecosystem.

System Architecture

It is very vital that traditional financial assets are permitted to do trading on the platform. Below are some critical factors that ensure that this goal is achieved.

Public Blockchain

Despite the challenges imposed by bureaucracy, a safe public blockchain will give the necessary support to the AllStocks system.

Cryptocurrency Exchanges

This plays a vital role in this platform. They provide accounts and digital wallets to users making use of their fiat currencies; this will enable users to sell and buy cryptocurrencies coupled with delivering the necessary framework for the conversion of fiat currencies to cryptocurrencies and vice versa.

Application Layer

A good number of applications that will make use of the potentials of the asset-backed tokens are developing. These potentials include a payment processor, remittance wallets, and platforms for trading.

Stamper

It ensures that tokens (asset-backed) at all times retain their values as it links the asset-backed tokens to the traditional assets. Also, upon transfer of rights to assets or liquefaction, it both redeems and destroys the tokens.

Asset-Backed Tokens

These tokens are vital to create a connection between the crypto market and financial assets. There’s a process of minting for each traditional asset. This then makes sure that, when the sales of these assets happen, there’s automatic destruction of the tokens.

Transfer of Ownership

As soon as tokens (asset-backed) are issued, the crypto-market can help in trading these underlying assets. Below are the steps involved in carrying out this operation.

  • Fiat currency is sent to the stamper by the user
  • The stamper returns the asset (backed tokens)
  • These tokens (asset-backed) can be traded or held by the user.
  • The user can liquefy the tokens.
  • Finally, fiat currency is sent by the stamper to the user’s account.

The stamper assures until the liquefying of the underlying assets (this could happen at any time).

Fees

This applies when there is a transfer of traditional and digital assets, and there must be an account made for these fees.

Regulation

Any transaction (on-chain) used in indicating an owner’s transfer (offshore), has to be well managed and must satisfy regulations (both foreign and local). Also, all KYC/AML requirements must be met in all transactions.

AllStocks: Implementing its Ecosystem

Ethereum Blockchain

Ethereum’s original writer was Vitalik Buterin who was a worker at the Bitcoin Magazine as at 2013. Buterin stressed the point that Bitcoin was in need of a program that could develop a platform solely for the development of the app, so he created the all-new platform.

Ethereum is well suited for the goals of AllStocks because it disengages rewards of mining from transactions carried out by its participants.

Mining Ethereum

To mine Ethereum, some cryptographic puzzles need to be solved, to be able to win Ether. Ether helps developers pay for services as well as fees on the Ethereum network.

Cryptocurrency Tethered Token (CTTs):

These are asset-backed tokens that stand for financial assets kept in the system.

Regulation Compliance:

The programmed nature of the CTT helps them embed to meet the required regulations.

Assets Explorer:

This reveals the underlying assets with ease and transparency, permitting the user to look into the relationship between the real asset and the issued CTTs.

Network Tokens:

Fees and commissions on the AllStocks network are levied like tokens. These issued tokens will be included an all ERC-20 compliant exchanges.

Fiat Currencies:

AllStocks was developed to support fiat currencies that can be traded internationally. Some of the supported fiat currencies are EUR, RUB, USD, GBP, JPY, CNY, etc. We hope that in the future, there’ll be support for more fiat currencies.

Escrow Account:

On behalf of AllStocks, there’s an Escrow account that holds all the financial assets utilized in the network. Also, it is essential that interaction between stakeholders is adequately managed and open to making sure there’s complete compliance without having to sacrifice transparency and reliability of the system.

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