Crown project purpose and description
What is Crown?
Crown is a decentralized blockchain platform upon which developers are able to create economy applications. It is a self-sustainable ecosystem.
Therefore, developers and companies alike are able to enjoy the benefit of using some of the most secure servers for a cooperative governance structure. The secure servers are referred to as Systemnodes.
In order to guarantee the business administrators and product application provides the best security, and transparency in the marketplace, Crown bestows upon the blockchain identity verification and a legal framework, making work easier for all users.
One of the tents of Crown is to spur innovation. To do this, the team behind the platform work round the clock to make sure they provide a comprehensive support structure. This is particularly for new projects, especially those that champion technological and social innovation.
Any participant in the Crown ecosystem is able to share their initiatives or ideas through the Crown Proposal System.
In so doing, users are able to take advantage of the governance and marketing network within the Crown platform, and at the same time maintaining one of the healthiest systems so far.
Crown is advancing cloud computing and taking it to the next level. Cloud computing has become an important part of business today, allowing entities and individuals to gain access to a shared pool of resources like networks, storage and server services.
Providers of cloud computing services offer their resources in different categories as services, including Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS) and so forth.
Crown offers cloud computing services through a PaaS approach.
To allow users and developers the ability to create economy applications, they use Masternodes and Systemnodes to build the infrastructure upon which developers can achieve their intended goals.
There is no central unit needed to manage these servers, and as a result, businesses are able to create a cloud platform that is distributed, and decentralized through Crown.
What is the problem that Crown Solves?
There are a lot of blockchain projects that are currently available online. All these promise to deliver something unique. Others simply are a chip off Bitcoin or Ethereum, with a few tweaks here and there.
These projects are all unique ecosystems in a way. While leveraging on their resources and technology to support the development of innovative applications, services or even products, most of these end up locking out a lot of users.
Users are locked out because of lack of funding, support and so forth. This is why so many brilliant ideas barely ever live to see the light of day. The idea behind Crown is to create a sustainable, stable and transparent platform where merchants, developers and the relevant communities around them can coexist, and foster innovation while at it.
How does Crown Solve the problem?
In order to establish and maintain a community of active developers and entities on Crown, the project has the following measures in place:
Crown Decentralized Governance Protocol – CDGP
This is the tool through which the active Crown community is able to cast their votes on and share whichever new projects are available on the platform, and any proposals to make changes on the blockchain. The CDGP borrows heavily from the Dash system that has been used extensively in most blockchain platforms. Through the CDGP, therefore, Crown encourages the community to become active in fostering innovation through user-generated proposals.
Proposals are a way of making sure that everyone is able to take advantage of the endless opportunities that are available thanks to blockchain technology. Blockchain technology has a significant impact not just on businesses, but also on the way we go about our lives.
There are several projects that have failed to take off, simply because they were not able to get the necessary support and funding.
This is where Crown comes in.
Through the CDGP, Crown users find themselves in an interesting position where they have the capacity to collaborate on different projects, fund and share them with a vast community, and backed by the development budget.
Accessing the system for this reason only costs 25 CRW and the proposal gets tabled before the entire community. A proposal can be anything that the user deems fit, as long as it is something that will eventually add value to the community. This means that users can front anything from projects, marketing strategies, improvements and/or updates to the network, or even a new blockchain application.
Should sufficient node operators vote in favor of the proposal, Crown will proceed to fund this project through their development fund.
Other than that, there is a wide community of experts with different talents, all available to share their knowledge to push such ideas to fruition. What users must understand is that their proposals should clearly indicate the scope of the project, the requirements, and the expected deliverables.
What makes Crown better than the competitors?
Blockchain platforms at the moment tend to borrow a lot from one another. In fact, the majority of the blockchain projects you come across either stem off from the core concept behind Bitcoin or Ethereum. Crown, goes a step further, making it different from some of the competing projects in the same line. Here are some of the reasons why Crown stands out among them all:
Legislation and Infrastructure
When most of the blockchain projects are designed, they focus only on the instructions, legislation, and infrastructure that matter to their core development needs. What this means is that essentially they ignore everything else that matters to these businesses, especially legislation and infrastructure that have to be followed in the real world.
By ignoring these rules, such blockchain platforms end up creating a situation where the entities and individuals who operate within their ecosystems face uncertainty over the legality of the contracts that they enter into. Crown, on the other hand, has established an active infrastructure where the normal legally binding contracts that the said parties enter into are effected alongside smart contracts on Crown.
One of the other key features of Crown that make it stand out from the competition is transparency. The Crown blockchain is built to offer transparency in operation. There are no anonymous features on Crown. Bearing this in mind, all users on the Crown blockchain can be certain that all transactions and activities are transparent.
Because of this transparency, Crown is one platform that will barely ever have governments and other relevant entities breathing down their necks. It is virtually impossible to operate an illegal business on Crown. Other than that, NGOs, businesses, government agencies, and any other party are in a tight spot because it is impossible to misuse funds held on the Crown blockchain without getting noticed. This makes it an ideal platform for any organization that is looking for transparency in fund management.
Crown is a regulated blockchain platform. This is not just a feature, but something that was inherent from the beginning. Identities of users are registered with specific agents on the Crown blockchain. This is an important part of keeping this blockchain as secure as possible, and with each upgrade or update, the mechanisms are improved to make them more efficient.
From the beginning, Crown has always been focused on community-centered decentralization. The economy established within Crown is self-regulating, which means that any individual or entity that has stakes in the network plays an important role in determining the future of the blockchain. Stakes can be held either in Masternodes or Systemnodes.
Stakes are also useful when voting for proposals, amendments or any relevant changes to the Crown network, or for funding new projects. In line with the community-decentralization aspect, all alterations to the blockchain can only be made with the approval of the community.
Systemnodes are unique to the Crown blockchain. These are servers on the network upon which economy applications are hosted. In order to run the entity’s software, the servers connect to the Crown blockchain. This is important for cloud applications and businesses which are run on the servers.
It is through the Systemnodes that businesses and individuals are able to use the Crown platform as a cryptographic proof of data integrity, or payment service. Crown also offers incentives to the community involved by encouraging them to run Systemnodes in exchange for CRW each time they help to process new blocks. The CRW earned confers upon the users voting rights, which are useful in playing an important role in decision making.
Like Systemnodes, Masternodes are also servers on the Crown blockchain. Their role, however, is to provide security services and offer support for Instant Send. These servers are futuristic, especially since it is upon their foundation that the Crown blockchain plans to establish a consensus mechanism.
Masternodes and Systemnodes must all have dedicated IP addresses, and they have to be running 24/7.
The Crown ecosystem is fairly governed. They use a fairly governed system to implement changes and manage the network. This is important because it allows all the members of the Crown community to play an active role in the development of the blockchain.
One thing that sets Crown apart from the other platforms is the manner in which the governance system works. The governance system serves two purposes, funding and determining the direction upon which the platform will innovate. In this regard, while other blockchain projects heavily depend on mining and donations, Crown goes in a different direction by administering 10% of the rewards from each block to the users, towards developing the blockchain.
In so doing, Crown is able to aptly reward the node operators and miners for their effort and contribution into the project, without interfering or putting the optimization and coding efforts of the Crown platform in jeopardy.
How can Crown be categorized?
Crown is a Blockchain-as-a-Service (BaaS) cloud platform upon which developers and organizations are able to build applications and economy businesses which operate in an efficient and resilient ecosystem. It is, therefore, a self-governed and self-funded platform that relies on the democracy of their users in an attempt to leverage and refine the concept and platform of blockchain technology.
What’s Crown’s vision on Security?
All transactions on the Crown network are protected by secure cryptographic blockchain technology. The way Crown is designed, it is unattractive, or unnecessarily expensive for someone to attempt an attack or spamming. Users have to deposit tokens with a registry to create a record on Crown. These deposits are then sent to the respective multisig addresses or any Crown address which represents the new registry owner.
The requirement for these deposits is to make sure they are high enough to make them unattractive for DDoS attacks, but at the same time, not to make them too high for regular users to access the platform. By design, the registration agents have the ability to revoke any registered keys, and even deregister their hashes if they notice the owners are not operating in an honest manner.
When these keys are revoked, the deposits from the locked addresses are also withdrawn, and these are distributed to the agents in their addresses. The implications of this are clear. First, a publisher that attempts to register a bad entry or a malicious entry into the blockchain will lose all their deposits. The knowledge of losing financial assets, therefore, deters publishers from publishing invalid or fake data.
Second, given the fact that agents get to share the spoils in the event that a publisher’s deposits are revoked, they are incentivized to keep monitoring published entries. This way, Crown creates something that is more of a community patrol system. The agents are constantly looking for invalid data published.
Upon review, if the entry is malicious, the publisher’s CRW are locked, and eventually sent to the address of the agents, in appreciation of their efforts to keep the Crown ecosystem healthy. Should the registrant publish invalid data by accident, they can simply apply the necessary fixes, have the entry verified again by the agents.
Examples of Crown use cases/applications
This platform is designed to host economy applications, which are run on cloud servers. This makes work easier for developers because any application that can be tied through an API to a network on a cloud server can also be tied to the Crown blockchain.