Newton

Infrastructure for the protocol-based economy

[Short general description]: The Newton project is envisioned and set out to build a new kind of ecommerce system on the blockchain where everyone can and should benefit directly from economic growth. With the help of existing blockchain and peer to peer tools catered specifically toward providing solutions to online retailers, Newton aspires to build the new infrastructure for a protocol-based economy. 

 

[Main problems tackled]:

- Users own the data: Users secure and control their personal data through cryptography, and can then manage their personal credit. Users share the profit produced by data in a pre-agreed manner.

- Smarter: Personal credit can be automatically created in a free and open manner without authoritative intermediaries. This methodology will reduce human intervention and facilitate the coordination between people, between machines and between people and machines.

- More effective incentive mechanism: Replacing traditional business intermediaries by technology protocols will reduce the transactional cost and reward each who contributed in the transaction; such as service providers, consumers and other participants connected by the value-based Internet.

- New organizational structure and cooperation mode: The community economy managed by non-profit foundations will replace the monopoly of intermediary platforms managed by traditional for-profit organizations. Based on open, fair, and rational rules every contributor will benefit from the economy and become a part of the economy.

 

[Main contribution proposal]:

- Digital Identity and Credit: Users can manage and control access to their digital assets by using a digital identity. Digital assets include; cryptocurrencies, personal data, personal credit and anything that exists in a binary format and come with the right to use. Users can control and set different privacy modes for corresponding digital assets, and price the digital assets.

- Supply Chain: By using such techniques as “Atom Hashing” a unique digital identity for commodities can be created over the whole network. Through this digital identity a user can check the relevant information on any commodity at any time. Once information on each operation of a product enters the Newton Supply Chain, that information will be stored on the Newton blockchain. This ensures no tampering with the data once it is stored on the Newton blockchain. Through smart contract Newton can pre-set commercial exchanging rules to realize automatic insurance claims and property rights transfer. This will reduce the transaction costs and promote cooperation efficiency.

- Digital Marketing: Advertisers can set marketing plans through various built-in marketing smart contract templates in the system. This includes incentive modes, settlement modes, and dynamic price adjusting rules. Advertisers can audit ongoing and completed marketing contracts. By calling out the DAI system, an advertiser can conduct market research before marketing activities, and analyze the results after the marketing activities.

- Trading and payment: The Newton trading and payment platform will enable a user to define transactions using the built-in smart contract templates and rule engine. This enables the user to include: multi-party transactions based on complex business rules, settlement rules, smart insurance contracts, smart financial contracts, and external chain service. Newton supports cross-border transactions, micro payments, lightning settlements and more to provide comprehensive online and offline payment tools.

- Reliable physical tunnel: Based on NewChain and NewIoT technologies Newton is capable of designing a reliable physical tunnel protocol and define manufacturing specifications of related equipment. Any third party can manufacture safety equipment according to the protocol specification.

- Automatic finance: Developers can define smart financial contracts based on the built-in smart contract templates on; insurance, lending and investment, including digital identity and credit, KYC information, staking the Newton token, contract rules and external chain service. The system will automatically match smart financial contracts and automatically complete transactional matching.

- NNIO (NewNET IO): Developers can access NewNET through the NNIO protocol, using storage services, computing services and domain names. Through smart storage contracts, smart computing contracts, smart domain name contracts, developers can quickly and innovatively develop applications.

 

[Innovation]: 

- NewChain: NewChain will have a main chain and sub-chains structure. The main chain will support account management, Newton token management, sub-chain management, network governance and more. The sub-chain will support specific service systems such as the hyper-exchange protocol, multiple consensus mechanisms and data structures, ensuring the assets transactions between the main chain and sub-chains, and between sub-chains. The NewChain provides a third-party developer the option and opportunity to create a new sub-chain after staking a certain amount of Newton tokens and passing the verification. NewVM is compatible with the Webassembly standard, supporting various general programming languages such as C/C++, Java, Python, TypeScript, and more. The system provides built-in smart contract templates for the hyper exchange protocol. The system built-in smart contract templates provide an effortless development and deployment of any application on the Newton NewChain. NewChain uses Ring-LWE anti-quantum encryption algorithm to ensure maximum security of all assets within the Newton ecosphere.

- NewNET: NewNET consists of a large number of nodes that run on an open network providing reliable storage services and supporting a full SQL database and various general programming languages. Through its flexible and decentralized architecture NewNET is able to directly host today's most widely used web services. Developers have the ability to release any calculation task to the nodes in the open network. The nodes can then select the corresponding calculation task according to their own (hardware) abilities, then obtain the corresponding incentives after completing the task. Through NewChain a decentralized network domain name service is fully supported. The ease of use of NewNET will increase through the blockchain technology.

- Atom Hashing: By using radiometric dating, PCA, machine vision, and deep learning technology Newton can quickly extract multiple characteristics of a certain material asset, including; weight, volume, size, shape, texture, optical properties, radioactive properties, thermodynamic properties, and a variety of customized random features. Then based on these characteristic data and algorithms Newton can create a unique identification and authentic right for any digital asset. The whole process is repeatable, verifiable and fault-tolerant.

- NewIoT: NewIoT is a general conception for a category of technologies that includes; blockchain fog computing, communication protocols between IoT devices and gateways and NewChain IoT devices developing specifications. The gateway has powerful computing and storage capabilities with built-in blockchain nodes, supporting multiple Internet accessing methods including; Ethernet/fiber, 3G/4G/5G, NB-IoT, IoT communication protocol such as BLE, Wi-Fi, ZigBee, and more. The IoT device store the collected information into NewChain through the gateway.

- DAI (Distributed Artificial Intelligence): DAI promotes the development of AI from three aspects; data, algorithm model, and execution engine. By using these three aspects the Newton DAI closely connects the data suppliers, algorithm model developers and operating system providers together. DAI provides authorized data standards for accessing users and data suppliers, including multidimensional data formats, data fragmentation, data compression, data encryption, etc. User private data safety will be protected by the k-anonymity, ε--differential privacy and other methods. DAI uses docker container to run artificial intelligence computing software such as Tensorflow, Caffe. It encourages data suppliers to provide long-term service through multi-factor weighting profit distribution method.

Analysis

Team - Founders:
Are the founders known? Do they have relevant experience and connections?
?
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
?
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
?
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
?
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
?
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
?
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
?
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
?
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
?
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
?
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
?
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
?
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
?
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score
?

Team

Member
Xu Jizhe
Founder
Li Shubin
Co-founder
Xia Wu
Joint Chief Architect
Meng Guang
Joint Chief Architect
Zhang Yu
Marketing Specialist

Advisors

Han Feng
Co-founder of Elastos
Li Songbo
Former CTO of Sina (NASDAQ: SINA) / Partner of DFJ Venture Capital
Hu Dinghe
Chairman of Elastos ecosystem board
Gu Xueyong
Professor at Tsinghua University / Director of International Relations at iCenter
Lee Willson
Bitcoin Ambassador

Updates

Title
Published at