VName - Decentralized Verification System

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VName- value to the smart deal



Vision in project VName

Due to the presence of the blockchain, the electronic money market and its penetration have grown rapidly. Its development has been so dynamic that the particular problems relate without any difficulty, safety and use were uncertain. From VName, we believe that by limiting human error in direct communication: 
  • It will expand the penetration of digital currency; 
  • There will be less skill in the lower trading floors; 
  • Enhance value-based security by having a validation framework; 
  • Customers will feel better by exchanging.

Target

Create a mechanism that makes transactions easier, faster, and safer without compromising confidentiality and user information. Become a universal access point to authenticate any blockchain address.

About VNAME

VName works by removing the client icon, and furthermore this blockchain their address phase has  a place with, and if the nickname is checked, in a card that is received under the address of them. It works in a way that only you can know someone's logo in case you have their address, too, not the other way around. The closest reference to the relevant address of a histogram is a hash of the address placed with the symbol, which is used exclusively to verify the address on a nickname from outside the map, and can not return a small address. This is expected with the purpose that VName can be used to validate that an address belongs to someone, but predicts the possibility of converting an address request using an icon.


What can VName do for you?
In recent years, the electronic money market has exploded with unprecedented growth. Along with the increase in market capitalization, the number of transactions and active individuals through portfolios and access block exchanges also significantly increases transaction risks and threats.
Among the sensational news about hacks and hold-ups, a growing problem of electronic money has been ignored by the world: human error. The transactional address has become so long and complex that one can almost feel lucky when a market reaches its recipient.
High security
VName avoids human errors, preventing users from sending money to the wrong address and losing them permanently.
Unique identity
By providing a unique, concise and simple username, or "VName" for each individual on the blockchain, VName removes any reading, spelling, or error checking that may cause you to lose your hand.
Effortlessly
VNames are unique, short and simple. Forget about copying and pasting endless addresses. The only security box you need is your brain.


THE VNAME SOLUTION

To deal with these problems I highlighted above there is need for a system that facilitates the current transaction mechanism. This should be simple means which must be easy for individuals using it and mustn’t complicate the user privacy for speedy and secure transaction means.
Every individual is used to the process of having a nickname or it can be also called username. The VName with its great team goes about this process of assigning a wallet address to a specific nickname. The wallet is address to the nickname on the VName decentralized platform there by the user can carry out transaction without complicating previous means he or she went about doing it. The process of assigning the address makes the transaction secure, speedy and transparent.

VNAME WITHDREW.png
When entering addresses, the VName script automatically detects the type of blockchain to which it belongs and the corresponding aliases. Display this plain text with extended options for more information. It will work for every site that imports our JavaScript. The browser extension is active, this will remove the need for a specific site to enter our vname.js and will automatically detect all addresses on the visited website and display the corresponding information  .
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The platform gives two types of verification options
Verified
Unverified
Unverified are free usernames and has to be six-character long. They are open to one or multiple users to use it.
Verified are not free and are limited to one user only. Nicknames can’t be shared between two individuals once it has been paid for via the VName token and its length between one to five characters.
There are also available free options for individuals who want a nick name but are not bothered about others using same nickname.
NAME TOKEN
The NAME token protocol based off the ERC-20 and ERC-223 standard called COALITE, This protocol allows the user to call the transfer function for NAME and send the adequate amount of tokens to the VName contract, which then accepts the sent tokens and verifies the nickname only if the right amount was sent.
In the event that an incorrect amount is sent, the VName contract will revert the transfer preventing the tokens from being taken out of the user’s balance.
The purchase for verified nickname will be done via the use of VName tokens under the NAME code. Investors are informed that this financing mechanism DAICO, will be the complement of the one already used where 10% of NAME were acquired by private investors.
The issuance of tokens will be of NAME 300,000,000 that will be divided:
· 10% was acquired by private investors.
· 10% in incentives to generate strategic alliances with the blockchain wallets and exchanges.
· 10% will remain in the hands of the founders of VNAME.
· 5% will be used for bounty programs.
· 3% destined to advisors.
· 62% destined to the DAICO.
VName decentralized technology will bring low transaction risk estimating the potential market because of the rapid increase of acceptability of the new era transformation globally. Transaction must take place with these various address on various exchanger platforms with tokens which also varies too.
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A Soft Capital of NAME 60,000,000 must be achieved, reaching the equivalent as the total sale of the Pre-Sale. When investing in VName, the investment made by the token holders will be used for business development. After identifying the main areas that will make up the business and estimating their budget, the token holders are informed that the use of their investment.
DESTINATION OF FINANCING
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The business is evaluated from a holistic perspective making the VNAME team considers the global success is associated to the different angles of the business, for which the budgets were evaluated independently. The financing model contains the main benefits of its predecessors, the DAOs (Decentralized Autonomous Organizations) and the ICO (Initial Coin Offering). The model was proposed by the founder of Ethereum with the aim of obtaining a less risky financing for investors in a decentralized manner. The DAICO format allows token holders to control the withdrawal of funds, while also allowing to close the project in case the team fails in the development, realization or execution of this.
The DAICO consists of three primary phases:
· Announcement phase
· Investment phase
· Development phase
MAIN DAICO FEATURES
The main points of the DAICO insured by the Intelligent Contract will be the following:
· Tap will initially be settled to 100,000 gwei / sec. Which is equal to 0.0001 eth / sec. This sets a weekly limit of withdrawal to around 60 eth / week. These withdrawals will be to guarantee the operation and improvement of VName.
· In case an increase in the withdrawal limit is necessary, said increase will be submitted to a vote where all the NAME holders will participate. The system will be through a simple majority.
· To create a withdrawal limit increase poll, at least 15 days since the last poll must elapse.
· To reduce the risk of voting fraud, each token holder that has voted will get their tokens frozen 1 hour before to 1 hour after voting finishes.
· The date and duration of polls will be announced at least 48 hours in advance, otherwise, they cannot be created.
· The withdrawal poll will be considered valid if a minimum of 20% of the holders of NAME participates.
· The project closure poll will be considered valid if a minimum of 70% of the holders of NAME participates
VName team is the only party able to create withdrawal limit polls. Any token holder is able to create a poll for dissolving the company. In this case of closure, the funds will be sent to the accounts of the token holders based on their participation.
The DAICO smart contract uses a Poll Factory Smart Contract to create Drafts and Polls.
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SOLUTIONS THE PLATFORM OFFERS
• Identify a problem & work on the solution
• VName project validation
• Functional Demo on Ropsten Network
• Exchanges’ listing agreements
• Worked on exchanges using VNAME API agreement
• DAICO, polls and voting research and whitepaper.
ROADMAP
Day Zero — March 14, 2018
• Website launch
• BitcoinTalk post
• VName Whitepaper v1.0 upload
The future
• Q2 2018:
• DAICO begins
• Public API (JavaScript)
• Voting polls and standard whitepaper
• VNAME browser extension.
• Exchange Listing
• Q3 2018:
· Verified nicknames market
· Integration with several wallets and exchanges
· Implementation of addresses verification in different blockchains/ cryptocurrencies
· Integration with ENS for automatic purchase.
• Q4 2018:
• Adding additional data to nick registration (color, bold, font, and more).
• Regular work to add compatibility to more cryptocurrency blockchains.
Migration of VName to its own blockchain network.
Dear readers lets join the moving train by investing in this great platform to elimate transaction risk form our daily activity so we can enjoy optimum service all at our finger tips under this decentralized VName technology.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.


At VName, we believe that by minimizing human error in conducting transactions: (i) it will increase the penetration of cryptocurrency; (ii) there will be a lower loss of efficiency derived from wrongly made transactions; (iii) increase transactional security by having a verification system; and, (iv) the user will feel more comfortable making transactions. Be a part of this tremendous project and follow these links for more information;


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