When it comes to blockchain solutions, the Newton project is the new kid on the block, and is all set to push the technology to its full potential by building a decentralized community economy that lets participants benefit directly from economic growth.
What makes Newton so unique is that it is nothing like the usual intermediary platformswhichwork on a centralized and profit-driven model. Rather, it’s a non-profit collaboration which buildsa new kind economy, one characterized by unwavering fairness, rationality and transparency.
To support all these innovative components, the Newton Project uses their own NewChain blockchain, which has already reached 5,000 TPS in real WANs. NewChain is based on a main chain and a sub-chains structure. The former manages the Newton Tokens and the accounts linked to them, while the latter takes care of consensus mechanisms, data structures and the hyper exchange protocol. A distributed artificial intelligence serves to link users with one another.
NewMall, Newton’s first major project, creates a new ecosystem to decentralize e-commerce with Newton’s Hyper Exchange Protocol. This protocolintegrates several elements that offer a host of benefits to users while allowing them to contribute productively to the network.
The key components of this network are:
A user’s digital identity gives them privacy and control over all their virtual assets such as personal information and credit, cryptocurrencies, etc. This is in sharp contrast to the likes of Google, Facebook, and Twitter, whose business models mandate that they control and monetize user data themselves.
Using techniques such as “Atom Hashing”, physical goods can be analyzed using advanced sensors, and their digital identity uploaded to the blockchain. This identity is linked toa product’s uniquecharacteristics (for example, in the case of a diamond, this could be carat, clarity, color, cut, etc)and because the blockchain is secure and immutable, the product’s identity is protected from tampering the moment it entersthe platform. Coupled with Newton’s Physical Tunnel (outlined below), this ensures even greater confidence throughout the supply chain. Newton’s supply chain management also uses smart contracts to automate transfer of property rights and insurance claims, bringing down transaction costs and enhancing efficiency.
Newton’s decentralizeddigital marketing lets advertisers coordinate marketing plans for best effect, while allowing users to decide how many ads they view and how much personal data they share,all delivered using preset smart contract templates. With this, advertisers can carry out audits to analyze market research data before using marketing templates such as dynamic price adjustment.
Trading and Payment
After viewing a digital ad, a user may want to buy something from a seller. Transactions are defined by preset smart contract templates, which is especially helpful with more complex multi-partytransactions. In addition, Newton’s platform provides both online and offline solutions for payments across borders, micro-payments, lightning settlements, and more.
Newton’s Physical Tunnel protocol is based on theirNewIoT and NewChain technologies that form the project’s foundational layer of technology. With this, third parties can manufacture secure transportation containers to ensure confidence in every step of the logistics process, from the factory floor to the final end-customer.
Through this tool, users can write smart contacts based on pre-existing templates such as KYC, insurance, loans, investments etc. The system instantly and automatically completes matching between transactions and smart contracts.
The NewNET IO Protocol allows developers to quickly build new and unique blockchain apps via decentralized computing, with infrastructure like distributed processing and distributed file storage. This goes above and beyond today’s semi-centralized cloud providers, and lets anyone add their machine’s power and storage to the computing network and get paid by whoever uses it. Those who use the machine pay lower costs than typical cloud platforms, and can take advantage of higher reliability since the network is massively distributed.
The Newton Project stands out for a number of reasons: Merchants save time and money on transactions with smart contracts, lower transaction costs, and automated marketing auditing. Buyers save money from lower transaction costs, are less likely to get shoddy fake products, and have confidence that their personal data is cryptographically secure and that they retain complete control of it. And because all transactions have a secure public record on the blockchain, everyone can be assured that they really do get what they pay for. Finally, with Newton’s incentive structure, all parties gain NEW Tokens for participating in this new, revolutionary kind of economy. With all of the above factors, Newton aims to build a freer, fairer economy, and let everyone involved benefit directly from economic growth.