NosChain will establish a Layer2 on the Kortho (KTO) chain as a social dedicated chain and build a series of ecological applications based on this chain, covering PC applications, blockchain browsers, DEX, cross-chain bridges, wallets, etc. Users will easily access the applications with their decentralized identity (DID).
This Layer2, as a social dedicated blockchain highly adaptable to the needs of social Dapps, should have the following characteristics.
(1) High throughput, low latency, and low transaction fees. It adopts the Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT) algorithms to achieve rapid verification of on-chain transactions, which ensure users an efficient on-chain interaction experience.
(2) Strong privacy protection. The Zero-Knowledge Proof mechanism (ZK-Rollup) allows transactions to be verified without exposing content, showing a significant privacy protection advantage.
(3) Secure storage of and access to massive data. Storing data copies on some nodes ensures high availability and security of data.
(4) Cross-chain interoperability. Notes is gradually establishingmultiple applications including DEX and cross-chain bridges to achieve asset interoperability between chains.
NOS will issue the native token NOS on Layer2, with a total of 13 million tokens. In the early stage, 3 million are used for technology research and development; The remaining 10 million are produced by mining,Annual output of 10% of the total amount of residual NOS.
The specific mining process is as follows:
The first year of mining will produce a total of 1000,000 NOS: one block is produced per second, with a total of 86,400 blocks per day, and each block produces 0.0317098 NOS.
The second year of mining will produce a total of 900,000 NOS: one block is produced per second, with a total of 86,400 blocks per day, and each block produces 0.0285388 NOS.
And so on until all NOS are totally mined.
The allocation proportions of NOS tokens are as follows:
(1) 30% will be allocated to NOS stakers.
Layer2 will initially open 21 proxy nodes, which are responsible for confirming blocks. Here is the stake rule. First, stakers entrust NOS to proxy nodes. Each staker can only entrust one proxy node in each period, with a minimum of 1 NOS. After the current stake quest is completed, they can enjoy the stake earnings.
(2) 60% will beallocated to KTO miners.
KTO miners who use mining machines to record Notes on-chain data.