The AllStocks network is being built to manage Fiat currencies and cryptocurrencies on a standard parity by giving these digital assets the backing of real-world financial tools and valuables.
The system will be able to handle data using blockchain technology and silo servers that will work as backups to enable the use of smart contracts in an optimal fashion as well as any other technological development on the form of software or apps that can work in compliance with the central ecosystem.
It’s a brand-new way to bridge Fiat currencies and digital assets. It works on a framework that requires a little bit of explanation so users can understand how difficult (and worthwhile) this process is.
First Step: On-Chain Infrastructure and Smart Contracts
Smart contracts manage the validation of each transaction done in the AllStocks network, so they are the backbone of the ecosystem. The financial assets registered within AllStocks are handled on currency transaction trust principles (CTT) that are issued on each smart contract generated by the system. Sending a smart contract will be like issuing a direct transfer from one wallet to another.
Stock Exchange and Buffers
The regulation of the CTT smart contracts will be handled by the decentralized stock exchange services offered within the network’s ecosystem. The buffers will help the system manage the overload of transactions by issuing auxiliary smart contracts that will keep the system running on time.
Off-Chain Infrastructure and Tool Kits
Since AllStocks is aiming to make the process of trade and exchange for digital currencies and Fiat money as easier as possible, they are willing to let third parties develop specific tools that will help them bring the gap between them more closely. Integration plays a big role in the expansion of the ecosystem, and as such, all the actors willing to join must do so by being ready to work in an Ethereum compliant environment.
CTT’s Explorers and the Shape of the Architecture
CTT’s explorer will have the sole function of verifying the data provided by the people joining the network. In other words: they will be the ones certifying the rightful ownership of the assets registered to verify the trustworthiness of the people in the ecosystem. All the data collected by them will be brought to an ecosystem that will cross-reference the information with the support of the features provided by the ERC-20 protocols of the AllStocks token utility.
Since AllStocks is developed on an already established Blockchain network, upgrading the system will be done at the same pace as Ethereum implements new ways to make their technology more functional. As they go, AllStocks will do their part to keep their network with the changes needed to offer the reported benefits to the users who need it. With that information on hand we can predict that the following will take place:
Reshaping the Network
If the AllStocks network needs to revamp the platform, the process can be achieved the re-formulation of the way smart contracts are handled. The interaction features would not suffer many changes, but it could take some time for users to adapt to new features whoever those might be.
Upgrading Token Interfaces
Even with a network revamped there could be further development to be had in the ERC-20 structure. It’s possible for the team working on the network to move to some of the already existing upgrades if their framework is deemed more manageable by the ecosystem. The result will only be noticeable on the performance of the smart contracts and other transactions.
CTT Three-Layer System and Compliance
Currency Transaction Trust protocols could change to have three different working layers: one for storing the data related to an asset, one for making contact with third parties, and one to control every transaction as a separate entity. The compliance with the system could go either way, but AllStocks believes that reinforcement of the security features is the most likely course of action since the transactions of the ecosystem are tied to real-life holdings.
The system will still rely heavily on the adoption of the AllStocks token to work properly. To get a better understanding of how this utility is closely tied to every aspect of the platform you can visit :