Via S.S. Trinità, 3 Chiari (BS)

Prototype & Platform

Otichain is the evolution of Quantum, a project based on Bitcoin Core (the most secure blockchain currently in existence) where the EVM (Ethereum Virtual Machine) has been implemented for the creation/execution of fungible and non-fungible Smart Contracts and Tokens.
Compared to Quantum, we differ in the Proof of Stake algorithm, which has been replaced with the Blackcoin code and thoroughly modified.
In this way, the blockchain has become more democratic and no longer based on the “weight” of the wallet in stake.

In traditional PoS, nodes receive a fixed reward based on the amount of coins staked. The more coins there are on the staked node, the more blocks are gained and consequently (in absolute value), the more coins are gained. Although in relative value all participants will receive the same percentage of “locked” coins, in absolute value it means that the more coins held, the more blocks gained and the greater the consensus power. Theoretically, if a node had more than 51% of all circulating coins, it could change the blockchain.
In Otichain, on the other hand, the reward mechanism is distributed equally to all staked wallets (nodes), in proportion to the value of coins ‘locked’. In this way, in each creation cycle, the node receives a block and a fraction of coins equal to what it has staked

Otichain‘s consensus protocol is found to have a much-improved attack prevention of 51%, making it impossible to modify the blockchain even if you have all the coins in circulation. The limitation of this consensus is given by the number of nodes, which in order to have a fast-enough maturation of the reward, needs a not high number.

The formula is: generated block * number of seconds * number of nodes = accumulation time of new coins.
The second difference with Quantum is the value of the network fee (gas) for smart contract transactions and executions. This value was deliberately set at an infinitesimal value, in order to allow its use by large corporate, organization, and institutions where the number of transactions is extremely high, but the cost of the same must be as low as possible although in a super secure environment.

These fees, instead of being allocated to the block holder, are allocated to a ‘foundation address‘ which collects them for the maintenance of the network.
The Stake mechanism is the only incentive tool for nodes, so the production of stake coins will be continuous and not finite in number, in order to endlessly incentivize the consensus mechanism.