VSG Whitepaper
  • VSG: Revolutionizing Digital Transactions and Financial Inclusion on the VSC Blockchain
  • Table of Contents
  • 1. Abstract
    • Overview of VSG Token
    • Transition to VSC Blockchain
    • Key Features and Goals
  • 2. Introduction
    • Background of VSG on Ethereum
    • Purpose of Bridging to VSC
    • Overview of Whitepaper Structure
  • 3. Problem Statement
    • High Transaction Fees on Existing Platforms
    • Scalability Issues with Current Solutions
    • Security Concerns in Traditional Systems
    • Financial Inclusivity Challenges
  • 4. Objectives
    • Reduce Transaction Costs
    • Achieve Scalability on VSC
    • Enhance Security Measures
    • Promote Financial Inclusion through Accessible Tools
  • 5. Technical Architecture
    • 5.1 Current State on Ethereum
      • ERC-20 Standard Compliance
      • Existing Use Cases and Limitations
    • 5.2 Transition to VSC
      • Bridging Process and Technology
      • Expected Improvements and Benefits
    • 5.3 VSC Blockchain Protocol
      • Consensus Mechanism: Hybrid PoS/DPoS
      • Smart Contract Capabilities
      • Scalability Solutions: Sharding and Layer 2
    • 5.4 Hyper-Deflationary Mechanism
      • $1 from Each Transaction Allocated to Buy and Burn
      • Impact on Token Supply and Value
  • 6. Governance Model
    • Decentralized Autonomous Organization (DAO)
    • Proposal and Voting Process
    • Role of VSG Token Holders in Governance
  • 7. Economic Model
    • 7.1 Token Distribution
      • Initial Distribution on Ethereum
      • Post-Bridge Distribution on VSC
      • Allocation: Team, Development, Community, Reserve
    • 7.2 Incentive Mechanisms
      • Staking Rewards
      • Transaction Fee Distribution
      • Community Engagement Programs
  • 8. Security Measures
    • 8.1 Consensus Security
      • Mitigating 51% Attacks on VSC
    • 8.2 Smart Contract Audits
      • Regular Third-Party Security Audits
    • 8.3 Anti-Fraud Mechanisms
      • Monitoring Systems
      • AI-Based Anomaly Detection
  • 9. Use Cases
    • 9.1 On-Chain Transactions
      • Transactional Tool for dApps
    • 9.2 Cross-Border Payments
      • Low-Cost, Fast International Transfers
    • 9.3 Decentralized Finance (DeFi)
      • Access to Lending, Borrowing, and Investing on VSC
    • 9.4 E-Commerce
      • Merchants Accepting VSG for Goods and Services
    • 9.5 Financial Inclusion
      • Providing Banking Solutions to Unbanked Populations
  • 10. Roadmap
    • The VSG Roadmap
  • 11. Conclusion
    • Summary of VSG and VSC’s Vision and Impact
  • 12. References
    • References and Citations
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  1. 12. References

References and Citations

PreviousSummary of VSG and VSC’s Vision and Impact

Last updated 11 months ago

  1. Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf

    • The foundational whitepaper by Satoshi Nakamoto that introduced the concept of blockchain and Bitcoin, laying the groundwork for decentralized digital currencies and blockchain technology.

  2. Buterin, V. (2013). Ethereum Whitepaper. Retrieved from https://ethereum.org/en/whitepaper/

    • Vitalik Buterin's seminal whitepaper that proposed the Ethereum blockchain, introducing smart contracts and the idea of a programmable blockchain.

  3. Adams, H., Zinsmeister, N., & Robinson, D. (2020). Uniswap v2 Core. Retrieved from https://uniswap.org/whitepaper.pdf

    • The whitepaper detailing the design and implementation of Uniswap v2, a decentralized exchange protocol that allows for automated liquidity provision on the Ethereum blockchain.

  4. Zamfir, V. (2014). Introducing Casper "the Friendly Ghost". Ethereum Blog. Retrieved from https://blog.ethereum.org/2014/12/26/introducing-casper-friendly-ghost/

    • An article introducing Casper, Ethereum's proof-of-stake protocol, which aims to improve the scalability and energy efficiency of the Ethereum network.

  5. Wood, G. (2014). Ethereum: A Secure Decentralised Generalised Transaction Ledger. Retrieved from https://ethereum.github.io/yellowpaper/paper.pdf

    • Gavin Wood's Ethereum Yellow Paper, providing the technical specification of the Ethereum Virtual Machine (EVM) and the underlying protocols of the Ethereum blockchain.

  6. Gudgeon, L., Perez, D., Harz, D., Livshits, B., & Gervais, A. (2020). DeFi Protocols for Loanable Funds: Interest Rates, Liquidity and Market Efficiency. Retrieved from

    • A research paper analyzing various DeFi protocols, their interest rates, liquidity, and market efficiency, providing insights into the functioning and dynamics of decentralized finance.

  7. Pisa, M., & Juden, M. (2017). Blockchain and Economic Development: Hype vs. Reality. Center for Global Development. Retrieved from https://www.cgdev.org/publication/blockchain-and-economic-development-hype-vs-reality

    • A comprehensive report discussing the potential and challenges of blockchain technology in promoting economic development and financial inclusion.

  8. Chainalysis. (2021). The 2021 Crypto Crime Report. Retrieved from https://go.chainalysis.com/2021-Crypto-Crime-Report.html

    • An in-depth report by Chainalysis analyzing the prevalence and types of criminal activities involving cryptocurrencies, and the measures taken to combat crypto-related crimes.

  9. Szabo, N. (1997). The Idea of Smart Contracts. Retrieved from http://www.fon.hum.uva.nl/rob/Courses/InformationInSpeech/CDROM/Literature/LOTwinterschool2006/szabo.best.vwh.net/smart.contracts.html

    • Nick Szabo's pioneering work on smart contracts, outlining the concept and potential applications of self-executing contracts with the terms of the agreement directly written into code.

  10. World Bank. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Retrieved from

    • The World Bank's comprehensive database on global financial inclusion, providing data on the state of financial inclusion worldwide and the impact of fintech innovations.

  11. Vitalik Buterin et al. (2020). Ethereum 2.0 Specifications. Retrieved from

    • The technical specifications and documentation for Ethereum 2.0, detailing the transition to proof-of-stake and the improvements in scalability, security, and sustainability.

  12. OpenZeppelin. (2021). Security Audits. Retrieved from https://openzeppelin.com/security-audits/

    • A collection of security audit reports and best practices from OpenZeppelin, a leading provider of security audits for blockchain projects.

These references provide a comprehensive foundation for understanding the principles, technologies, and developments that underpin the VSG token and the broader blockchain ecosystem. They offer insights into the theoretical and practical aspects of blockchain technology, smart contracts, decentralized finance, and financial inclusion.

https://arxiv.org/abs/2006.13922
https://globalfindex.worldbank.org/
https://github.com/ethereum/eth2.0-specs