What is native
Native is a platform that allows communities to generate unique currencies belonging to them distinctively and efficiently utilizes their funds through making decisions collectively. Native enables communities to recognize their values in a world economy which brings in an healthier system.
According to Friedrich Hayek, a renowned economist according to his theory of money and the system the way economy operates, he denoted that a currency that is independent but supported by one reserve token or currency would bring bring a global healthier system. This explanations shows the summary of how the Native operates. The native has a currency known as Native token that supports every community currencies that are built on the native platform.
The ecosystem of native.
Ecosystem shows the interactions amongst entities. This is also applied on native aspect of ecosystem. This shows the interaction between various currencies in the platform. Such currencies includes the native currency and community currency.
The native Currency:this involves the major currency that is used for operations in the native platform. It is called the base currency where reserves are being held by the bankor network token. This currency is used to exchange to several community currencies for transaction, voting or membership purposes. It is continually minted and destroyed In order to maintain the availability of tokens either to prevent inflation or deflation.
The community Currency:this is simply called the community tool of identity. This is the language of every member. These are the currencies the native platform generates for them which can be acquired through the exchange of native currency to the distinct community currency of ones choice or interest.
Also, Native enables members to perform mere task and receive rewards. It also increase the currency of community that is determined in participation.
Native governace is very unique in which curators who have a broader knowledge about the platform is in charge of letting and preventing several work or content from being shared.
Native enables the free will for any body who finds interest in joining communities as much as they want. Also, these people can freely create their passionate community if not found.
Use Cases
Mr richy wants a dancing community to professionalize his talent but seea no community of such interest. Simple, Mr Richy is able to create such community on Native for people to join.
Williams company is into charity services to orphanages. William company can actually create a community that would allow them to create a structure which would be used for their services of charitable work where people can join and be part of it.
In summary, Native helps generate tokens for their communities which enables them perform all manner of advanced activities.
For More information
Visit:
Native Whitepaper
Native Website
To participate in the contest click here
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