FEPC Design Concept

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The Internet revolution has been the sixth wave of technological change so far. The sixth wave of technology is to attach our assets to data, just like Uber and Didi put cars on the data end, and Walmart puts their products on the data end. Uber and Didi have a very large data system that matches supply and demand in real-time. It is a very effective business model that basically beats all competitors. Airbnb also uses real-time data engines for matching, which will disrupt the traditional hotel industry. People do not need to invest a lot of fixed assets to build hotels because we have a more efficient real-time matching. Our financial chain puts financial assets on the data end and uses blockchain technology combined with data engines and deep learning technology to match qualified investors in real-time worldwide.

On October 31, 2008, Satoshi Nakamoto first released the white paper of Bitcoin, “Bitcoin: A Peer-to-Peer Electronic Cash System,” proposing to achieve value transfer through the decentralized Bitcoin network. In the Bitcoin system, all network participants are supervisors of transactions, and transaction parties can complete transactions without establishing a trust relationship. Blockchain technology has changed the way we obtain and share information, creating a new distributed, peer-to-peer ecological society. This ecological society has good liquidity and high efficiency.

Based on the development needs of new technologies and new times in cross-border payment settlement and other scenarios, there is an urgent need to build a fast, secure, easy-to-use, reliable, and highly anonymous blockchain payment system to meet the new demands constantly raised in business transactions. Therefore, FEPC was born.

FEPC is a complete payment settlement system developed based on blockchain DLT technology, based on the PoW consensus mechanism, using the cryptonight algorithm, so that nodes distributed globally can participate in the entire payment settlement system, jointly ensuring its efficiency and maintaining its stability and consistency, and opening a new era of cross-border payment settlement.

With the popularity of blockchain currencies in various regions of the world, the methods and means of transaction tracing for blockchain currencies have been upgraded everywhere. In order to ensure the anonymity and traceability of payments, FEPC adopts the Cryptonight encryption algorithm, which is designed based on the CryptoNote protocol, to provide more secure transactions. The algorithm uses memory-hard algorithms to prevent some participants from monopolizing the network. Additionally, the Cryptonight encryption algorithm uses Keccak hash functions and ED25519 digital signature algorithms, both of which are resistant to quantum attacks. This makes the Cryptonight algorithm maintain a high level of security even under the threat of quantum computers.

The anonymity of the Cryptonight algorithm is mainly achieved through the use of a random number generator and ring signature technology. These technologies make it difficult to identify the sender and receiver of transactions, protecting user privacy. Specifically, the Cryptonight algorithm introduces some random numbers during the transaction process, which are generated by miners and only they know their values. When the transaction is broadcast to the network, these random numbers are used to hide the sender and receiver of the transaction, making it difficult for anyone to easily trace the source and destination of the transaction. In addition, the Cryptonight algorithm also uses ring signature technology to further enhance the anonymity of transactions. Ring signature is a signature method in which multiple signers can sign the same message without revealing their identities. In the Cryptonight algorithm, the sender of the transaction selects a group of random addresses from the network and signs them together with their own address, making it difficult for the receiver of the transaction to be easily identified.

FEPC will support cross-chain mapping of multiple cryptocurrencies, including Bitcoin, Ethereum, Litecoin, etc. Due to its excellent scalability, we will support on-chain mapping and authentication of more digital assets in the future, while ensuring the security of user assets, supporting more types of value settlement, whether it is virtual assets such as points, game IPs, or physical assets, digital assets or general financial assets, should be able to be registered on the blockchain through the financial chain for ownership confirmation and trading, and confirm the authenticity and consistency of assets through blockchain technology as much as possible.

FEPC supports multiple payment methods, including QR code payment, API interface payment, and manual payment, which can meet the payment needs in different application scenarios. Moreover, FEP adopts a decentralized payment system, avoiding the high transaction fees of traditional payment platforms.