whitepaper - bitcoins wealth club · 2019-04-12 · construction of digital asset payment and...
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whitepaper
Version:V1.0
Updated Until:10/01/2019
Unit:Cloud Token Pte Ltd
目录
Executive Summary.............................................................................................................. 4
Background.............................................................................................................................7
Digital Asset Opportunities and Challenges......................................................... 7
History of Blockchain................................................................................................... 8
Blockchain 1.0 —— Bitcoin................................................................................ 8
Blockchain 2.0 —— Smart Contract................................................................ 9
Blockchain 3.0 —— Tokenomics.....................................................................10
Vision and Mission..................................................................................................... 13
Introduction..........................................................................................................................16
Cloud Token Ecosystem............................................................................................ 17
Artificial Intelligence.................................................................................................. 17
Digital Asset Management Platform.............................................................18
Consumption mining payment ecosystem..................................................20
Atomic Swap........................................................................................................ 21
OTC......................................................................................................................... 21
E-commerce......................................................................................................... 22
Cloud Token Technical Whitepaper............................................................................... 24
Multiple encryption secure storage technology................................................24
Cutting edge high-frequency quantitative hedging strategy........................25
Cloud Token JARVIS Expert Advisors Futures Option Arbitrage System27
Cloud Token Design................................................................................................... 27
Multi-chain Supported Wallet.........................................................................30
Cross-chain consensus protocol.....................................................................30
Atomic Swap........................................................................................................ 32
Technical Architecture............................................................................................... 33
Overview............................................................................................................... 33
CTO open source agreement.......................................................................... 34
Asymmetric encryption algorithm.................................................................36
Consensus.............................................................................................................36
Four essential elements............................................................................................ 37
FSDLT — File System Distributed Ledger Technology..............................38
mDHT — Mainline Distributed Hash Table................................................. 40
SHOUT — Simple Heuristic ObjeCTO UDP Transfer................................42
SWARM Storage..................................................................................................43
Cloud Token Founding Team Members........................................................................45
Management Team.................................................................................................... 45
Advisor Team................................................................................................................47
Leading Investors........................................................................................................49
Roadmap............................................................................................................................... 52
Token Generation Event ( TGE )...................................................................................... 53
Token Overview...........................................................................................................53
Allocation of Fund...................................................................................................... 54
Cloud Token Foundation.................................................................................................. 57
Introduction..................................................................................................................57
Cloud Token Foundation Principle.........................................................................57
Cloud Token Foundation Goals...............................................................................58
Management goal.............................................................................................. 58
Research objectives............................................................................................59
Development goal..............................................................................................59
Claims and Risks................................................................................................................. 60
Executive Summary
Cloud Token is the world's first social wealth wallet to integrate all blockchain
cryptographic assets into one platform. It is developed using the latest 4.0
blockchain platform technology, capable of performing cross-chain encryption
exchange; payment; from the famous encryption market AI arbitrage engine
for manufacturers, e-commerce and other products. Our goal is to provide our
members with a focused social wealth generation ecosystem and become the
de facto standard token for the blockchain industry.
In 2018, with the east wind of blockchain technology, digital assets rose. The
rise of an industry has also emerged a large number of demand opportunities,
such as providing a safe, simple and efficient storage environment for digital
assets, digital asset management services, digital asset exchange, transactions,
and digital asset payment settlement system construction. Digital assets are
constantly being accepted by the public. In the face of ever-increasing
demands, Cloud Token continues to iteratively update its technology and
services after experiencing the wave of digital assets in the 1.0 and 2.0 eras, and
will officially unveil the prelude of the digital asset 3.0 era.
Cloud Token uses the wallet as an entry point to provide a secure storage
environment for digital assets and a one-stop multi-currency management
service. Where there are funds, it will inevitably lead to the demand for financial
management. Cloud Token provides digital asset management services to
bring users daily steady income, and carefully arranged, Cloud Token becomes
a powerful digital asset comprehensive service platform.
The digital economy will eventually serve the physical industry, and Cloud
Token is already laying the groundwork for a big trend – the arrival of the
general economy. Platform CTO will be used as a pass-through for Cloud Token
platform, so that it can connect online and offline, and combine merchants
from all walks of life to realize consumption is mining. The more you consume,
the more money you have. The more you pay, the more profitable you will not
only help the tradition. The transformation and upgrading of the industry has
further swayed the leverage of the real economy, accelerated circulation, and
promoted the blood circulation of the real economy.
Cloud Token, a digital asset comprehensive service platform that integrates
digital asset one-stop storage management, wealth management and
consumption mining payment ecology, will continue to develop deeply,
leveraging blockchain technology to serve the entire field of human life.
Background
Digital Asset Opportunities and Challenges
Throughout the history of the evolution of human currency, from the exchange
of objects to the exchange of shells, metals, and banknotes, and due to the
development of market trade, electronic money with bank cards as carriers has
emerged. With the advent of the Internet and the development of e-commerce,
payment methods such as PayPal, Alipay and WeChat have emerged. When
people are still immersed in the convenient enjoyment of online payment, the
birth of blockchain technology has once again broken this silence. Digital
assets have arrived.
From the history of the evolution of money, we clearly see that in order to cope
with the ever-increasing volume of transactions, our payment methods are
constantly breaking the limits of time and space, and human needs are endless.
Digitalization has become An inevitable trend.
Just as e-money has made services such as banks and Alipay, the rise of digital
assets has also brought a lot of development opportunities, such as providing
safe, simple and efficient storage environment for digital assets, digital asset
management services, digital asset exchange, In the transaction, the
construction of digital asset payment and settlement system, etc., the digital
asset industry urgently needs to build a strong infrastructure.
However, at present, digital assets still face related problems such as storage
security, operational complexity, high handling fees, narrow asset appreciation
and wealth management channels, etc. The market vacancies in the digital
asset industry are both challenges and opportunities.
History of Blockchain
Blockchain 1.0 —— Bitcoin
The concept of Bitcoin was originally proposed by Nakamoto in 2009. It is an
open source software designed and distributed according to Nakamoto's ideas
and a P2P network built on it. Point-to-point transmission means a
decentralized payment system.
With Satoshi Nakamoto mining the first batch of bitcoin, marking the arrival of
the blockchain 1.0 era, the digital currency represented by Bitcoin and Litecoin
was given the function of currency, and the first time the digital currency was
connected with the real thing. Get up and make digital currency a truly valuable
currency. Blockchain 1.0 is mainly composed of digital currency and payment
behavior. It mainly has the function of decentralized digital currency and
payment platform, and the goal is to decentralize.
Blockchain represented by bitcoin 1.0 What are the drawbacks and
inadequacies? The block size of Bitcoin 1M has led to slower and faster transfer
times as transactions become more frequent and people are increasingly
demanding. this problem
Can be solved by expansion, so there is a bitcoin cash afterwards. The
transaction and payment functions that only satisfy the digital currency make
the application not widely available in life, and the benefits to daily life are very
limited, but also give technical iterations an opportunity.
Blockchain 2.0 —— Smart Contract
Blockchain 2.0 is the development and application of smart contracts
represented by Ethereum and Ripple. The smart contracts can be automated
and simple transactions for the financial industry. The smart contracts are
efficient and transparent, which makes the financial industry new. The change
can be said that Ethereum has set off a wave of blockchain 2.0. In the 2.0 era
represented by Ethereum, a number of blockchain applications beyond
currency were derived through the addition of smart contract technology. That
is, Ethereum has established a programmable, Turing-complete blockchain.
Simply put, it is to allow anyone to build and run decentralized applications
through blockchain technology. The smart contract technology of the 2.0 era is
more convenient and intelligent in the real life of users.
At this stage, due to the limitations of the scale of participation and the field to
which the application belongs, the elements of the blockchain 2.0 era have the
following characteristics: mainly focusing on specific objects (such as the
parties to the contract), and the transactions are mainly based on specific
assets (such as real estate, knowledge). Ownership or other rights and interests
of property rights, automobiles, etc., and the scope of transactions are
relatively limited, low-frequency, and narrow.
Blockchain 3.0 —— Tokenomics
Token / Coin
The digital economy will eventually serve the real industry. In the blockchain 3.0
era, the Token appears. The “pass-through economy” is a change in the
production relationship brought about by the development of productivity. The
blockchain technology has moved from the financial sector to the real
economy. , began to land applications.
One of the core values of the blockchain is the token. The certificate is a
voucher of value. The certificate economy is the value carrier of the value of the
Internet. It has various types such as currency, application, and equity. In the
economic system of the certificate, the greater the contribution, the more
evidence is obtained; the better the cooperation, the higher the intrinsic value
of the certificate, and the means of economic incentives to make the entire
ecosystem
Everyone and every role spontaneously participates in collaboration and
participates in maintenance spontaneously. As an incentive medium for
large-scale group collaboration,
It can greatly mobilize the enthusiasm and creativity of community participants,
fully stimulate the vitality of the economy, and greatly promote economic
growth.
The arrival of STO
STO, namely Security Token Offering, is issued by the Securities Pass. A security
is a valuable document of property rights, and the holder can prove the proof
of private ownership such as ownership or claims based on the certificate. STO
refers to the tokenization of existing traditional assets, such as equity and
creditor rights, as a collateral. It becomes a securitization certificate after being
chained, and must be applied to federal securities law supervision. In terms of
nature, the subject of securities certification is equity, creditor's rights, warrants,
and so on. From the final object form, the subject of securities certification is
real estate ownership, real estate investment funds, gold, carbon credits, oil, art
works, music copyrights, etc. Based on actual assets, STO actively embraces
government regulation.
STO Advantage
1. Intrinsic value: STO has real assets or income as value support, such as
company shares, profits, real estate, etc.
2. Automated compliance and rapid clearing: STO is approved and licensed by
the regulatory body to automate the KYC/AML mechanism and achieve
instantaneous liquidation.
3. Ownership division smaller unit: Accelerate the division of asset ownership
and reduce the entry barriers for high-risk investment products, such as real
estate and high-end art.
4. Democratization of venture capital: Expand the way to raise funds.
5. Asset interoperability: The standardization agreement of assets will facilitate
the interoperability between different quality assets and different legal
currencies.
6. Increase liquidity and market depth: invest in less liquid assets through STO
without worrying about redemption. market
Depth will also increase through the following channels: (1) The rise in the price
of digital assets has created billions of dollars in incremental wealth that will be
marketed. (2) Programmatic market makers like Bancor have improved the
liquidity of the long tail STO. (3) The asset interoperability agreement will
promote the circulation of transnational assets.
7. Reduce regulatory risk and strengthen due diligence. Applicable to
regulatory exemptions, writing national KYC and AML regulations into smart
contracts, and is expected to achieve automatic programmable compliance.
8. STO is expected to reduce the cost of circulation of assets. Reduce
transactional frictions in the process, such as using automated contracts to
achieve automated compliance and fund collection, chaining contract and
accounting reports, increasing asset separability, achieving T+0 clearing,
settlement, and more.
9. It is regulated by the Securities Law SEC and is legally safe and safer.
10. 24-hour trading.
STO can create faster, more cost-effective financial instruments. Compared to
traditional fundraising methods, STO saves costs in terms of legitimacy,
compliance, administration, management, and time. And for STO, the
blockchain promotes the blockchain.
The transition from virtual to real, with real underlying asset support, will make
the valuation logic clearer.
Vision and Mission
Cloud Token's mission is to build the strongest and strongest infrastructure in
the digital asset industry, providing the highest quality, safe, convenient and
efficient services for digital asset enthusiasts, popularizing the application of
blockchain technology in all walks of life, and opening up blockchain life.
Leading the way in the new era.
Cloud Token uses a wallet as an entry point to provide a secure storage
environment for digital assets, one-stop multi-currency management services,
and robust digital asset management benefits. However, the digital economy
will eventually serve the physical industry, and Cloud Token will launch the
platform-passenger CTO, paving the way for the next trend, the arrival of the
general economy.
Cloud Token will build a strong e-commerce ecosystem and build a
decentralized business ecosystem. By opening up the value of digital assets
and physical business, we can connect all walks of life, and use CTO as a
platform for accessibility. It has the function of consumer flash payment, open,
transparent and decentralized. As the payment and circulation medium for
high-frequency quantitative hedging transactions, brick revenues, rewards,
handling fees and online and offline industry chains, CTO is the perfect
combination of powerful offline experience services and efficient blockchain
internet finance. It will build a bridge between digital currency and legal tender,
build a global digital clearing settlement network system, and build a global
consumption mining payment ecosystem.
Using platform-based CTO as an incentive mechanism to stimulate consumer
enthusiasm and creativity, stimulate domestic demand, promote economic
growth, and provide more efficient and valuable smart services to users and
merchants, and help the economics of the general public.
The transformation and upgrading of the physical industry will eventually
enable the digital economy to serve the physical industry and promote the
blood circulation of the real economy.
Introduction
Cloud Token is a digital asset comprehensive service platform that integrates
digital asset one-stop secure storage management services, digital asset
intelligent wealth management and consumption mining payment ecology. As
a comprehensive digital asset service platform, Cloud Token aims to provide an
environment for secure storage of digital assets for thousands of currency
friends, and to stimulate digital asset leverage with zero risk, bringing stable
benefits to CTO. After the blockchain 1.0 and 2.0 era, the blockchain will enter
the 3.0 era, that is, the era of the pass-through economy, the digital economy
will eventually serve the physical industry, Cloud Token through the layout of
the digital asset comprehensive service platform, to the platform through the
CTO As a payment circulation medium, it lays a strong foundation for the arrival
of the general economic.
Cloud Token Ecosystem
As a comprehensive service platform for digital assets, Cloud Token consists of
three functional sections: Cloud Token Intelligent Finance, Consumer Mining
and Pass-Ten Economy Payment Ecosystem.
Artificial Intelligence
Cloud Token Smart Mobile Wallet can store different underlying technologies
such as BTC, ETH, DOGE, XRP, LTC, EOS, etc., to achieve one-stop storage
management multi-currency. Simple and easy to operate, hundreds of
compression tests, powerful anti-theft technology to maximize the security of
digital assets.
Digital Asset Management Platform
Cloud Token belongs to the new generation digital asset wallet. It is different
from the wallet 1.0 and 2.0 era. One of the highlights is the establishment of the
Cloud Token JARVIS intelligent trading system under the premise of ensuring
the security of the user's wallet. The Cloud Token JARVIS intelligent trading
system assets are managed by the hedge fund investment bank. Operation,
and jointly create a coin-saving function for investors to deposit coins, and
realize intelligent and secure financial management in the wallet. Through the
automated intelligent hedge fund system to issue a one-click quantitative gift
service to the investment community, Cloud Token's biggest profit point is the
risk-free arbitrage spread, using the Cloud Token JARVIS intelligent trading
system intelligent system to automatically realize real-time multi-transaction
platform. The brick-and-mortar transaction and the global real-time
high-frequency hedging transaction obtain the spread income, realize the
monthly stable income and reward most of the proceeds to the participants in
the form of coupons.
The Cloud Token-Cloud Token JARVIS Expert Advisor uses high frequency
quantitative hedging transactions. Hedging is a way to profit from investment
while reducing business risk, a risk-free arbitrage strategy. Hedging
transactions have their own natural anti-risk nature. The only risk is the loss of
handling fees. However, as long as the digital assets are volatile and active,
both the ups and downs will earn the instantaneous spread of spot and futures.
And the quantitative trading enabled by the Cloud Token JARVIS intelligent
trading system replaces the artificial subjective judgment with advanced
mathematical models, and uses computer technology to select a variety of
“high probability” events that can bring excess returns from the vast
historical data to formulate strategies. Maximize risk reduction and achieve
stable returns. By depositing digital assets into the Cloud Token smart mobile
wallet and opening the Cloud Token JARVIS intelligent trading system function,
you can purchase a mining machine for free. The Cloud Token JARVIS
intelligent trading system intelligent trading robot will track and capture big
data and high efficiency in all trading platforms in real time. Market analysis,
real-time intelligent arbitrage trading, the participation of the whole people in
dividends.
Cloud Token Smart Mobile Wallet comes with hematopoietic function, zero risk
maximization and digital asset leverage. Currently, it only deals with the global
mainstream digital currency, not for securities and futures. The principle of
trading is born out of stock index futures and commodity futures. The R&D
team lasted for more than a year. Based on the absorption of traditional
high-frequency trading, it was developed based on the trading characteristics
of digital currency. It is now the world's most advanced and most in line with
the currency trading habits. system.
Consumption mining payment ecosystem
The consumption mining payment ecology is a distributed application that is
extended on the basis of the wallet system. The construction is based on the
Cloud Token storage, transfer, payment, and wealth management functions.
The fast and convenient flash payment function is used to support online and
offline payment. Settlement, cross-system settlement, and cross-regional
settlement provide users with the latest consumer payment eco-environment
in the digital asset era. What is even more pleasant is that while purchasing,
you can also get the most original “mining” income of the blockchain and
return the profits of the consumer to the user. The more you consume, the
more money you have, and the more you pay, the more profitable.
Atomic Swap
Crypto-to-Crypto exchange, which is between different digital currencies, relies
on real-time ratio redemption. To a certain extent, users can trade digital assets
or realize digital assets more quickly and easily, without wasting time to travel
through different exchange platforms for complex pending order. All digital
assets of Cloud Token DAPP, such as Bitcoin (BTC), Ethereum (ETH) and other
digital currencies supported, can be seamlessly exchanged with CTO.
New support for digital assets has been added.
OTC
The over-the-counter (OTC) method is also called the over-the-counter
transaction. It refers to the transaction conducted by the market trading entity
on the basis of bilateral credit, through independent bilateral inquiry and
bilateral clearing. Instead of trading within the trading platform, the transaction
is concluded privately at a price above or below the trading platform price or
with other conditions.
E-commerce
Through the opening of the mall system, users can enjoy the digital experience
of online consumption at Cloud Token Mall with CTO. Buy everyday items,
books, clothing, shoes, hats, toys, software, records, home appliances, and
other home delivery platforms.
A wallet that uses artificial intelligence to help you keep your assets, but at the
same time is a platform for your daily life experience and supplies. XBLCOK will
not be just a super wallet so simple!
Token Value
Cloud Token will build a mall e-commerce ecosystem and build a decentralized
business ecosystem. By opening up the value of digital assets and physical
business, platform X-ray CTO is used as a platform for accessibility, open,
transparent, decentralized, and will build a global digital clearing settlement
network, which will have a strong offline experience. The perfect combination
of efficient service and blockchain internet finance, with platform-based CTO as
an incentive mechanism to stimulate user spending and promotion enthusiasm,
stimulate domestic demand, promote economic growth, and provide more
efficient and valuable for users and merchants. Smart services to transform the
blockchain of business services.
CTO Pass/Token is a medium for the Cloud Token platform to pass the economy,
allowing more people to participate in an economic model in the blockchain
ecological construction. It involves hundreds of industries including beauty
industry, communication industry, health industry, business travel industry,
clothing industry, real estate industry, entertainment and leisure industry,
electric commerce industry, automobile industry and catering industry. The
development of CTO-certified economy allows more people to participate in
the construction of Baixing, achieving industry development, cross-border
applications, cross-system applications, and cross-regional application
development goals.
Cloud Token Technical Whitepaper
Multiple encryption secure storage technology
Cloud Token encrypts the hot wallet, separates the hot and cold end, and stores
multiple cold wallets in multiple places to form a multi-center multi-center
cryptographic signature scheme. At the same time, multiple signals such as
P2SH and financial privacy BIP32 are used for all data. The information is
transmitted encrypted. In addition, Cloud Token also uniquely creates multiple
signature algorithms such as rate limiting, address whitelisting, webhooks, etc.,
and combines with the financial process system and the approval authorization
system to not only ensure the security of digital assets in all aspects, but also
make the entire coin-coin process more efficient. Convenient.
The funds in the Cloud Token wallet are isolated, divided into the user's wallet,
the quantitative wallet, the commission money package, the isolation
management, the human risk control and the automated risk management to
maximize the investment risk. Cloud Token is a multi-currency decentralized
wallet with SHA512-ZERO encryption technology and a separate private key +
dynamic verification code to ensure data security for the Cloud Token network.
Since the successful development of Cloud Token, it has been brewing for four
or five months, and has undergone hundreds of anti-theft anti-theft tests to
maximize the security of users' funds.
Cutting edge high-frequency quantitative
hedging strategy
Cloud Token wealth management products are jointly created by top financial
institutions, asset management teams and senior cryptocurrency experts from
around the world. By depositing digital assets into the Cloud Token smart
mobile wallet and opening the Cloud Token JARVIS intelligent trading system
function, you are free to purchase a profitable machine. The Cloud Token
JARVIS intelligent trading system intelligent trading robot will track and
capture big data and high efficiency in all trading platforms in real time. Market
analysis, real-time intelligent arbitrage trading, the participation of the whole
people in dividends.
The Cloud Token JARVIS intelligent trading system uses high-frequency
hedging transactions. Hedging is a risk-free arbitrage strategy that can still
profit from investment while reducing business risks. Hedging transactions
have their own natural anti-risk nature. The only risk is the loss of handling fees.
However, as long as the digital assets are volatile and active, both the ups and
downs will earn the instantaneous spread of spot and futures. And the
quantitative trading enabled by the Cloud Token JARVIS intelligent trading
system replaces the artificial subjective judgment with advanced mathematical
models, and uses computer technology to select a variety of “high probability”
events that can bring excess returns from the vast historical data to formulate
strategies. Maximize risk reduction, achieve stable income, and truly achieve
zero risk maximization to incite asset leverage.
Cloud Token JARVIS Intelligent Trading System Intelligent Arbitrage Working
Principle
Cloud Token JARVIS Intelligent Trading System The intelligent arbitrage system
is the world's highest level of intelligent arbitrage system.
Cloud Token JARVIS Intelligent Trading System Moving brick arbitrage system:
The price of the same currency is different in all trading platforms around the
world. In the past, the manual transfer of bricks into the current Cloud Token
JARVIS intelligent trading system machine automatically moved bricks, bought
from a trading platform at a low price, and another trading platform sold at a
high price. Take the difference, this is called arbitrage. Cloud Token JARVIS
intelligent trading system intelligent arbitrage system automatically recognizes
the volume, activity and spread of the world's major trading platforms. It will
buy at a low price in the first time and sell at a high price in a few tenths of a
second. 24 hours automatic brick arbitrage, stable income, safe and reliable,
one day volatility can get up to 10% of the daily arbitrage gains.
Cloud Token JARVIS Expert Advisors Futures
Option Arbitrage System
Futures option arbitrage means: according to the band trend of BTC, ETH and
other currencies, the leverage is 10 times to 100 times, and the two-way
transaction can make profits regardless of the ups and downs. According to the
global BTC, ETH transaction data, K-line pattern and other related indicators to
judge the decline or rising trend, so as to place orders in the BTC, ETH option
futures market, grab the band revenue, due to
With 10 to 100 times leverage, the benefits far exceed the spot trading market,
which is between 10 and 100 times.
All arbitrage systems have an accuracy rate of 99.9% and the error is almost
zero. The system writes the proceeds into the program and automatically
enters the Cloud Token JARVIS intelligent trading system to generate dividends
and promote rewards. The platform is validated by CTO as the central medium.
Cloud Token Design
To meet the needs of users and developers, Cloud Token will be designed as a
high-performance underlying operating system with multi-asset cross-chain
protocols and smart contracts with Turing completeness. The overall structure
is shown below:
1. With Cloud Token's self-designed multi-chain chain wallet, users can import
the wallet where the extra-chain assets are ready to be replenished (proven
asset ownership). The import process will be completely decentralized. The
user private key is in the process. Will not be recorded.
2. Recharge the corresponding multi-signature managed wallet via the
imported BTC, ETH or other supported wallet.
3. The supernode on Cloud Token will listen to the refill transaction via a
cross-chain protocol and invoke the mapped asset contract.
4. After the contract is successfully executed and irreversible, the mapped asset
contract will transfer the corresponding mapped asset to the user's Cloud.
Token in the wallet.
5. Users can use these mapped assets to invest in different types of projects
using Cloud Token-based DAPP.
6. When the usage is over, the user can recharge the mapped assets back to the
mapped asset account to obtain the outbound asset withdrawal rights.
7. When the permission is met, the proof node will initiate a proposal for the
currency transaction. When more than 2/3 of the cross-chain nodes are signed,
the chain foreign investment will return the address of the user's coin.
Cross-chain protocol plugin
When designing cross-chain agreements, transaction settlement is affected by
differences in underlying performance and time of release. For example, it
takes nearly an hour for BTC to get confirmation for six blocks. If users directly
use DAPP based on BTC, their efficiency will lag behind the efficiency of DAPP
based on EOS (EOS has a block time of 0.5 seconds).
This is unacceptable to developers and users, so we introduced a
multi-signature managed wallet mechanism that helps users lock out-of-chain
assets through a cross-chain plugin and issue the same amount of mapped
assets for the Cloud Token wallet during the lockout period ( Such as DBTC,
DETH), Cloud Token-based mapping assets, users will use DAPP on the chain
more conveniently, quickly and fairly.
DAPP developers can use the Cloud Token smart contract protocol that
supports multi-chain assets. In order to improve the system iteration efficiency,
Cloud Token adopts a plug-in organizational structure. On this basis, we have
added a cross-chain plug-in to help users to use Cloud Token-based DAPP.
Used with off-chain assets.
Multi-chain Supported Wallet
When a large number of users use extra-chain assets to recharge these
multi-signature managed wallets, there may be problems in not being able to
accurately determine the source of the refill. Therefore, in order to improve the
Cloud Token user experience and convenience, we have designed a
decentralized wallet that supports multiple blockchain assets, that is, users can
use chain assets such as BTC and ETH to pass through the chain.
The wallet uses the premium DAPP developed on the Cloud Token chain.
Cross-chain consensus protocol
How to maintain the security of these managed wallets? We have added a new
dimension to the high-performance DPOS+CTO consensus mechanism—a
cross-chain node proof mechanism. Cross-chain nodes are voted by all CTO
holders, and the highest-scoring cross-chain node will be the target of a
multi-signal managed wallet. In order to prevent evil, cross-chain nodes must
lock the equivalent value of CTO;
In order to ensure the stability of the system operation and maintenance, the
cross-chain node must receive the reward in stages after it completes the
maintenance task. Thus, there are three types of nodes on Cloud Token:
The Super Node is elected by the entire network CTO holder through the DPOS
consensus mechanism. The super node provides bandwidth and log storage
(disk), computing power, and computational storage (CPU) and state storage
(RAM) for the entire network. The pass holder can vote for the super node
every cycle of about one minute. Candidate Node An alternate node is a node
that participates in a supernode election, including a supernode, a cross-chain
node, and a node that is not selected as a supernode. Alternate nodes are
always on standby and are ready to be replenished when a supernode or
cross-chain node fails.
Cross-chain Validator Manages multi-signal hosting accounts by maintaining
the security of multi-signal managed wallets, ensuring that out-of-chain assets
are fully aligned with the wallet on the chain.
Atomic Swap
So in the specific recharge and coin operation logic, how do the nodes of the
underlying chain work together?
The underlying chain monitors the process of recharging the assets outside the
chain:
1. The user sends a refill transaction to the escrow account;
2. When the node is in the block state, the LSP program deployed on the node
queries the trusted block browser for the transaction recharge record of the
escrow account every 0.5 seconds, and the cache is local;
3. The LSP program queries the database on the node to determine whether
the refill record has been initiated or not, and tells LSP whether the transaction
was initiated.
4. If the transaction has been initiated, it is deleted from the local cache; if it has
not been initiated, the LSP program initiates a currency transaction to the
issuing contract.
1. The user initiates mapping of the asset management contract to recharge the
mapped asset, and the BP receives the refill request through the listener;
2. The super node receives the user's request for withdrawing money
(expressed as the user reloads the mapped assets to the mapped asset
management contract);
3. According to the type of the user's coin, the super node detects the
out-of-chain asset wallet bound by the user Cloud Token wallet;
4. If the verification fails, the request for the withdrawal of the coin is discarded;
if the verification is successful, the request for the withdrawal of the coin is sent
to the multi-signature module (maintained by the cross-chain node), and the
multi-signature module initiates a real digital currency transaction to the chain,
and Cross-chain nodes multi-sign the coin transaction;
5. After the multi-signature is successful, the managed wallet is transferred to
the user and the user reclaims the assets outside the chain.
Technical Architecture
Overview
Platform Passage CTO technology panorama includes the basic network layer,
the intermediate agreement layer and the application service layer.
The basic network layer consists of a data layer and a network layer. The data
layer includes the underlying data blocks and related data encryption and time
stamping technologies. The network layer includes a decentralized networking
mechanism, a data dissemination mechanism, and a data verification
mechanism.
The intermediate protocol layer consists of a consensus layer, an incentive layer,
and a contract layer. The consensus layer mainly includes various consensus
algorithms of network nodes. The incentive layer integrates economic factors
into the blockchain technology system, mainly including the issuance
mechanism of economic incentives. And the distribution mechanism, etc.; the
contract layer mainly includes various scripts, algorithms and smart contracts,
which is the basis of the blockchain programmable features.
Platform Passport The CTO Application Services layer serves as the most
important part of the blockchain industry chain, including various application
scenarios and cases for blockchain, including programmable currency,
programmable finance, and programmable society. The application layer is the
underlying technical architecture of the platform-based CTO application
ecosystem. The open source, programmable application layer provides
technical support for building a global digital currency application ecosystem.
CTO open source agreement
The Genesis block adopted by CTO is a newly created public chain based on the
blockchain of the Bit Beta System (Cloud Token) innovation open source
agreement. Users can conduct point-to-point currency transactions and instant
settlement, and easily and easily convert trading assets. (Traditional currency,
electronic money, and other forms of assets) is as simple as sending an email,
significantly reducing the risk and handling of interbank transfers, especially
international transfers.
Unlike the centralized network model, the nodes in the P2P network have equal
status, each node has the same network power, and there is no centralized
server. All nodes share computing resources, software, or information content
through a specific software contract share. Wallet and P2P's unique open
source network technology is one of the core technologies that make up the
platform's CTO technology architecture.
CTO Agreement vs. Traditional Bank SWICTO Wire Transfer Agreement:
Transfers from traditional bank SWICTO are subject to high fees and take 3 to 5
days, and CTO cross-border transfers can be reached instantly.
CTO vs. Bitcoin: Based on CTO's redemption and transaction functions, all users
on the distributed network can conduct peer-to-peer currency transactions and
instant settlement; while the Bitcoin blockchain itself does not have trading
functions. Its transactions depend on the trading platform.
Asymmetric encryption algorithm
An asymmetric encryption algorithm refers to the use of public and private
keys to encrypt and decrypt data storage and transmission. The public key can
be publicly developed for the sender to encrypt the information to be sent, and
the private key is used by the receiver to decrypt the received encrypted
content. The public-private key pair has a long calculation time and is mainly
used to encrypt less data. Commonly used asymmetric encryption algorithms
are RSA and ECC. CTO uses asymmetric public and private key pairs to build
trust between nodes.
Consensus
CTO follows the open source protocol, so there are similar important steps for
negotiating consistency between distributed nodes. "Consensus" is the process
by which the entire network agrees on the same general ledger.
If each person chooses a completely unrelated certifier, the network will not
reach a consensus, and the special version of the general ledger is the only
correct general ledger. But in reality, people's UNL lists are repeated, and this
duplication leads to reliable verifiers reaching the same negotiation.
Every reliable system user wants the system to negotiate, and the verifier will
choose the way other certifiers trust, because they also want to negotiate.
Basically, all reliable system users work together to ensure that negotiations are
achievable and maintainable. Of course, the lack of a consistent consensus is
easy to detect.
In a consensus, each node evaluates an offer from a peer group, known as the
"selected verifier."
When running together, the selected verifier represents a subset that is trusted
not to collude with the fraud node to evaluate the offer. "trust"
The definition does not require a single selected certifier to be trusted. Rather,
these certifiers in the selection hope that they will not collude with the material
that is forwarded to the network.
CTO provides a way to prevent transactions from happening indefinitely,
ensuring that the trading process takes place in a timely manner. The
application needs to include the Last Ledger Sequence parameter for each
transaction. This guarantees that the transaction succeeds or fails in the
specified general ledger serial number (or before), thereby limiting the waiting
time before the final transaction result is obtained.
Four essential elements
The Cloud Token DLT consists of four core parts:
1. FSDLT — File System Distributed Ledger Technology
2. mDHT — Mainline Distributed Hash Table
3. SHOUT — Simple Heuristic Object UDP Transfer protocol
4. SWARM Storage
Collectively and in combination with the clever Proof of Reputation (POR)
algorithm, the four elements contribute to a blockchain that in tests and the
real-world can handle many times more transaction confirmations per second
as there are nodes in the network
FSDLT — File System Distributed Ledger
Technology
FSDLT supports multi-transactional processing by utilising file-based blocks
that can support variable file sizes to cater for business content. Unlike
traditional time-based blocks, such as used on the Bitcoin and Ethereum
blockchains, transactions on file-based blocks can be processed immediately
and in parallel — Cloud Token’ Parallel Atomic Chain.
Each FSDLT block is structured as a file which contains all the necessary
components of transactions such as timestamps and other necessary attributes.
Each file and its contents have a unique fingerprint called the cryptographic
hash, which ensures immutability and no possibility of duplication across the
network.
Fig 1.5 - ATOMIC CHAIN using FSDLT
The file or block is stored using IPFS (Internet Protocol File System) on network
nodes. Through parallel chaining, FSDLT allows multiple transactions to be
processed from a single node. Add multiple network nodes, and there is the
capacity to process multiple transactions simultaneously. An FSDLT, therefore, is
theoretically infinitely scalable.
Each node only stores the transactions in which it has participated. The SHOUT
protocol distributes the transaction information through the mDHT network
and helps nodes locate the necessary information required to complete
transactions.
Each transaction needs to pass through a customizable business logic layer
such as an Ethereum smart contract. Moreover, every transaction can be found
by human readable file names based on IPNS (InterPlanetary Name Service),
part of the IPFS framework.
mDHT — Mainline Distributed Hash Table
The Distributed Hash Table (DHT) is a peer-to-peer (P2P) network composed of
distributed nodes. A mainline DHT (mDHT) is used in the system.
mDHT data has the form of an index-value pair. Lookup, get, and store
operations are performed in the process of requesting and storing data
between nodes. To retrieve a value with a specific index, the node performs a
lookup operation on the node with a get operation.
There is no hierarchical structure in the network. Every node can join or leave
the network at any time. All are dispensable. These characteristics enable nodes
to share data by communicating directly within a widely dispersed network.
In a DHT-based P2P system, data is associated with a critical value (a result of
hashing the data), and each node in the system handles a portion of the hash
space and is responsible for storing a certain range of critical values. When a
specific key is searched, the system returns the identifier (IP address) of the
node storing the data with that key.
The mDHT system consists of four modules:
User Interaction Module for receiving data and accessing time information
from the user
1. Cryptography Module for performing encryption of data
2. Key Management Module for managing the keys required for encryption
3. Secret Sharing Module for dividing the encryption key into several pieces
via:
a. A Threshold Estimation Module for setting the optimal parameters based
on the similarity between reinforcement learning and the data availability
graph
b. A DHT Network Module for distributing generated key shares to the DHT
network
SHOUT — Simple Heuristic ObjeCTO UDP
Transfer
SHOUT is an innovative and efficient protocol for communications between
nodes in the platform. Older blockchains use a slow gossip-like protocol
whereby the first witness whispers to another node which in turn whispers to
another node until there is a consensus in the network.
Fig 1.6 – SHOUT Protocol
SHOUT broadcasts the transaction request across the network and implements
a POR (proof-of-reputation) consensus algorithm to determine the first witness.
Unlike the energy-intensive POW (proof-of-work) in which the amount of “gas”
becomes a decision the sender must make to ensure timely delivery, POR
processes transactions in chronological order using an algorithmic mixture of
response time, influence (number of connections), and stake (number of
transactions).
A lightweight mass connectivity protocol, SHOUT is an open UDP-based variant
of the Micro Transport Protocol intended to mitigate latency and other
congestion control issues found in conventional BitTorrent over TCP. SHOUT
uses multicasting to deliver data to all nodes within the network thereby
significantly decreasing overhead.
SWARM Storage
Nodes within the network work together like a swarm of worker bees to form a
storage system like a honeycomb.
The SWARM Storage layer effectively manages a process whereby participating
nodes share disk space with every other node in the network. Each transaction
between sender and recipient is processed by a reputation-backed node which
is called a witness, and each transaction is a separate chain in the SWARM.
SWARM Storage uses the FSDLT to store transactional information in the
filename so eliminating the need to store data in the actual file itself. Other
BLOB/STRUCTURE-based data is stored in the file.
Cloud Token Founding Team
Members
Management Team
Daniel Csokas
• Graduated from Oxford University, UK Director of Business
Development, MultiBank Group
• Early in the development of the program, and developed
several APPs that support multi-device multi-system operation,
including applications that use "augmented reality" technology.
• Lloyd's Insurance Company of London served as a global technology
executive during the MultiBank Group.
• Since 2012, Daniel has been fascinated by Bitcoin and the blockchain
revolution it brings. He eventually gave up his high-paying and stable job in
2013, began to give a speech at the blockchain conference, provided advice for
start-up companies, and wrote articles for free. Daniel was a pioneer in several
blockchain startup projects and digital currency exchanges. From the
accumulated experience in the past, the blockchain has been positioned from
the “black technology” that has been cast aside, and the folks have begun to
develop the most important technological revolution in this century. Daniel
found that the key to the popularization of technology to the real society is
With the digital asset wallet with artificial intelligence system, it truly integrates
the online and offline world. To this end, Daniel recruited the Cloud Token team
with this mission to create a global blockchain network that facilitates
information exchange and value trading.
Fasial King
• Fasial King graduated from the University of Denver with a
double degree in real estate and international business;
• Fasial is the co-founder of Lex, the head of King Interests,
and the owner and chairman of the King Realty Group;
• Fasial began to enter the blockchain field in 2013 and is now the organizer of
the Ethereum Institute at Princeton University
Enrique Santos
• CEO of Enrique Singapore Token Advisors;
• Focus on tokens and intra-regional ecosystems;
• Worked for 15 years at Morgan Stanley, Deutsche Bank
and Citigroup in London and Renaissance Capital in
Moscow;
Leonard Nevin
• Blockchain Alliance Interim Executive, StrongBlock Chief
Government Relations Officer
• Leonard creates an efficient organizational framework for the team;
• Has a rich data-driven way of thinking, and has a profound and intuitive
feeling of organizational changes;
• Pay close attention to the business model of business success or failure
Beau Dos Zarracina
• True-Tickets co-founder and chief content officer
• Beau has an experienced start-up CEO and innovation
director with a history in the aerospace industry;
• Excellent executive management professionals specializing in
design thinking, business development, mergers and acquisitions, analysis,
digital, systems engineering, competitive analysis, project management and
leadership.
Advisor Team
Bryan Feinberg
• Bryan is the CEO and founder of the New York venture
capital incubator, ChainDynamics
• In the past few years, he has been deeply involved in the
creation of the blockchain ecosystem, consulting and creating a number of
early blockchain start-ups.
• Bryan is a certified venture capitalist with a series of financial certificates such
as 7,63,79 FINRA
• He is also a global blockchain subject matter expert with a focus on banking
and regulatory compliance, corporate syndication, data intelligence and
analytics, wallet security, search engines, machine learning and big data.
Carolyn Reckhow
• Carolyn is the Director of Operations and Customer Services at
Casa Inc.;
• Prior to joining Casa Inc., she was Director of Global
Operations at ConsenSys;
• Carolyn graduated from Boston University.
Julian Zawistowski
• Julian is the founder and CEO of Golem Factory;
• He is also a trade economist with a deep understanding
of blockchain technology and sociology;
• Prior to founding Golem, he served as a public policy consultant and public
policy researcher for a number of organizations.
James Radecki
• James is Cumberland's global business development
lead, one of the world's largest providers of
cryptocurrency counters and liquidity;
• Prior to joining Cumberland, he served as Managing Director of Goldman
Sachs, Head of the Chicago Board of Trade, etc.;
• James is a Certified Public Accountant and received a bachelor's degree in
accounting from the University of Illinois at Wesley in 1985.
Jon Matonis
• Jon Matonis is a founding director of the Bitcoin
Foundation and has held senior positions in
organizations including VISA International, VeriSign,
Sumitomo Bank and Hushmail;
• As an economist and e-money researcher focused on expanding non-political
digital currency circulation, Jon is also an independent director of Bitcoin,
blockchain, mobile payments and gaming companies;
• Jon was a special guest at CNN, CNBC, Bloomberg, NPR, Al Jazeera, RT, Virgin
Radio and numerous podcasts. For Forbes magazine executives, American
banker.
Leading Investors
1. Digital Currency Group
Digital Currency Group is the most influential venture capital firm in the
blockchain space. Located in New York, the company's investment in the
blockchain sector exceeds all other blockchain investors. The company is not
only the first blockchain venture capital firm, but the total number of
investments in the past 12 months (15) has also exceeded the sum of the total
investment of any other nine investment companies at any time.
2. Pantera Capital
Pantera is located in the Menlo Park area of California, in the Bay Area
high-tech and venture capital cluster. The company is a hybrid investment
company of hedge funds and venture capital funds, which invests in seed
venture capital funds of blockchain companies, as well as hedge funds that
invest in tokens and cryptocurrencies.
3. Blockchain Capital
Blockchain Capital is a venture capital firm in the blockchain sector. Like Digital
Currency Group and Pantera Capital, the company is also an investment
company focused on the blockchain sector. Their first investment was in the A
round of financing for the first bitcoin trading platform, BTCC, at the end of
2013. Blockchain Capital is the venture capital firm with the largest number of
investment blockchains following the Digital Currency Group.
4. Andreessen Horowitz
Andreesen Horowitz, also known as 16z, is one of the world's largest venture
capital firms and a venture capital firm that invests not only in blockchain or
digital assets. Digital assets are part of their total investment assets, with assets
valued at more than $4 billion. Andreessen's first blockchain investment began
in 2013 and is an angel round of financing for Ripple. They also financed other
blockchain companies such as Basis, Harbor and Chia Networks. Andreessen
recently announced that it will build a $300 million fund focused on
cryptocurrency.
Roadmap
Token Generation Event ( TGE )
Token Overview
Token Name Cloud Token
Token Symbol CTO
Token Decimal Places 8
Type BBSx2
Utility
● Exchange to supported cryptocurrency
● Profit share payments
● Trading on exchanges
Total Supply 1,000,000,000
Token Price ( Per CTO ) 0.30 USD
Allocation of Fund
Legal and administration. 2% of 1.2 billion CTO or 24 million CTO (estimated to
be worth USD 2.4 million at ICO listing date). Cloud Token is an established
public chain that will use blockchain technology to facilitate international
transactions. Cloud Token will allocate 2% of the funds raised from token sales
to attend to back-end administrative, accounting, licences, and legal costs that
may arise in the process of rolling out Cloud Token-powered dApps for
organisations and users for global adoption. This budget may include
employment costs, contracts, and other corporate legal expenses.
Operations. 40% of 1.2 billion CTO or 480 million CTO (estimated to be worth
USD 48 million at ICO listing date). Cloud Token will organise four majors
international blockchain hackathons, with an additional eight satellite events
across the five continents over the next three years for international talent
recruitment. This will necessitate building teams of event managers,
salespeople, recruiters, trainers, customer service staff, and technical support
personnel. Teams will be strategically positioned across the world with
headquarters in Singapore.
Platform security. 3% of 1.2 billion CTO or 36 million CTO (estimated to be
worth USD 3.6 million at ICO listing date). To operate and maintain a complete
offline and online platform, security is of utmost importance. Thus 3% of the
sale proceeds will be allocated to build and maintain secure architecture, tools
and processes that will ensure the security of the Cloud Token online platform,
including hardware, software, firmware, network, storage and every other
component.
Marketing. 35% of 1.2 billion CTO or 420 million CTO (estimated to be worth
USD 42 million at ICO listing date). Cloud Token will plan and execute strategic
marketing campaigns to promote Cloud Token public chain adoption by
organisations, merchants and dApp users. This global outreach to individuals,
groups, organisations will encourage them to understand and engage
blockchain technology and share its benefits within their communities and
networks.
Research and development. 20% of 1.2 billion CTO or 240 million CTO
(estimated to be worth USD 24 million at ICO listing date). Blockchain
technology is still in its infancy. While Cloud Token' DLT is state-of-the-art,
continuous research and development is required to advance it. This allocation
of funds includes the development of new source development kits (SDKs),
application programming interfaces (APIs), formats, and web applications to
complement, improve and expand the usage of the Cloud Token platform. The
budget also includes employment costs, equipment, software licenses, and
other R&D costs that may arise in the future.
Cloud Token Foundation
Introduction
The Cloud Token Foundation (hereinafter referred to as the “Foundation”)
was established in the United States and is the highest authority of Cloud Token.
The Foundation is committed to the development, operation and maintenance
of Cloud Token to ensure the safe and harmonious development of the Cloud
Token ecosystem. To avoid incidents that violate the blockchain design
philosophy, the Foundation will help manage the general issues and privileges
of community projects by developing good governance structures and
systems.
Cloud Token Foundation Principle
The Cloud Token Foundation has three structural principles:
Manage separately to develop the Cloud Token system platform and
applications.
Non-profit management
Meeting the Cloud Token platform for the benefit of CTO holders,
developing a robust and scalable system by Cloud
The Token Foundation manages the issuance and distribution of CTO
certificates.
Powerful management
The Cloud Token Foundation is an independent legal entity with a unique
approach to operations and its own management structure, with consulting
services from top professionals and experienced experts.
Cloud Token Foundation Goals
The Cloud Token Foundation's mission is to lay out and develop a consumer
mining payment ecosystem based on the Cloud Token digital asset
comprehensive service platform, allowing users to participate in the Cloud
Token platform ecosystem and participate in value distribution while gaining
solid benefits from smart financial management. , sharing a feast of wealth.
Management goal
The Foundation plans to invest resources to establish a fair and transparent
management process and to take into account the opinions and needs of all
participants in the platform ecosystem. This open management model will
provide the necessary monitoring channels for each node and participate in the
supervision of the Foundation's decisions on system and rule making,
certification issuance, legal matters and other related decisions.
The Cloud Token Foundation will be responsible for managing and overseeing
the security and convenience of CTO Passport storage and use, as well as the
transparency of any other related revenue.
Research objectives
The Cloud Token Foundation aims to foster an innovative environment through
collaboration. Collaboration includes testing new ways to engage in
ecosystems, driving value creation and networking. The Cloud Token
Foundation can fund research and development to support an autonomous
network that is secure, efficient, and provides business transaction services.
Development goal
The Cloud Token Foundation directs and funds the development of the Cloud
Token platform itself and the tools that empower Cloud Token ecosystem
partners to build, develop and create value. The Cloud Token Foundation will
continue this work by participating in the development team, continuing to
support and improve the technical facilities of the Cloud Token ecosystem, and
actively maintain an open source code base that ecosystems and participants
can use.
Claims and Risks
Regulatory Risks. The regulation of tokens such as the CTO tokens is still in a
very nascent stage of development. A high degree of uncertainty as to how
tokens and token-related activities are to be treated exists. The applicable legal
and regulatory framework may change subsequent to the date of issuance of
this White Paper. Such change may be very rapid, and it is not possible to
anticipate with any degree of certainty the nature of such regulatory evolution.
CTO does not, in any way, represent that the regulatory status of the CTO
tokens will remain unaffected by any regulatory changes that arise at any point
in time before, during, and after this offering.
No regulatory supervision. None of CTO or its affiliates is currently regulated or
subject to the supervision of any regulatory body in Singapore. In particular,
CTO and its affiliates are not registered with MAS in Singapore as any type of
regulated financial institution or financial advisor and are not subject to the
standards imposed upon such persons under the Securities and Futures Act,
Financial Advisors Act, and other related regulatory instruments. Such persons
are required to comply with a variety of requirements and standards
concerning disclosures, reporting, compliance, and conduct of their operations
for purposes or maximizing investor protections. Since CTO is not subject to
such requirements or standards, it will make decisions on those issues at its
own discretion. While CTO will have regard to best practices on these issues,
holders of CTO tokens may not necessarily enjoy the same extent and degree of
investor protections as would be the case
No fiduciary duties owed. As CTO is not a regulated financial institution, it does
not owe investors in CTO tokens any fiduciary duties. This means that CTO has
no legal obligation to always act in good faith in the best interests of holders of
CTO tokens. While CTO will have regard to the interests of holders of CTO
tokens, it is also permitted to consider the interests of other key stakeholders
and to prefer these interests over the interests of CTO token holders. This may
mean that CTO is permitted to make decisions that conflict with the interests of
CTO token holders. Not owing any fiduciary duties to holders of CTO tokens
also means that holders of CTO tokens may have limited rights of recourse
against CTO and its affiliates in the event of disputes.
Tax risks. The tax characterization of CTO tokens is unclear. Accordingly, the tax
treatment to which they will be subject is uncertain. All persons who wish to
receive CTO tokens should seek independent tax advice prior to deciding
whether to receive any should they invest with regulated entities instead.
CTO tokens. CTO does not make any representation as to whether any tax
consequences may arise from purchasing or holding CTO tokens.
Risks from third parties. The tokenized nature of CTO tokens means that they
are a blockchain-based asset. The security, transferability, storage, and
accessibility of blockchain assets depends on factors outside of CTO’s control,
such as the security, stability, and suitability of the underlying blockchain (in
this case, the Ethereum blockchain), mining attacks, and who has access to the
smart contract where the CTO tokens are stored. CTO is unable to assure that it
can prevent such external factors from having any direct or indirect adverse
impact on any of the CTO tokens. Persons intending to receive the CTO tokens
should note that adverse events caused by such external factors may result in
the loss of some or all of the CTO tokens. Such loss may be irreversible. CTO is
not responsible for taking steps to retrieve CTO tokens lost in this manner.
Risks in receiving the CTO tokens. CTO cannot and does not guarantee or
otherwise assure that there are no risks in relation to the issuance of the CTO
tokens. The CTO tokens may, depending on the manner in which the relevant
issuance is effected, involve third parties or external platforms (e.g., wallets).
The involvement of such parties or platforms may introduce risks that would
not otherwise be present, such as misconduct or fraud by the third party, or
your failure to receive the CTO tokens upon duly making payment because of a
third-party wallet’s incompatibility with the CTO tokens. CTO is not
responsible for any risks arising due to the involvement of third parties,
including the risk of not receiving (or subsequently losing) any or all CTO
tokens issued to you.
The English language white paper is the primary official source of information
about the project. The information contained in the English language White
Paper may from time to time be translated into other languages. In the course
of such translation, some of the information contained in the English language
White Paper may be lost, corrupted or misrepresented. The accuracy of such
alternative communications cannot be guaranteed. In the event of any conflicts
or inconsistencies between such translations and the official English language
white paper, the provisions of the English language original document shall
prevail.
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