AOK Whitepaper (EN)

Profit Model

1. Payment System

1.1. UTXO

AOK uses UTXO - Bitcoins’ payment system. UTXO is an acronym for Unspent Transaction Outputs. Contrary to Ethereum's ‘Account Balance Model’, there is no account and balance, verify the coin with examine the validity of a transaction through ‘Unused output’.

1.2. UTXO's operation structure

AOK records money from someone as UTXO. If receive 2AOK and 3AOK respectively from A and B and have a total of 5 AOK, it is saved as respectively 2AOK and 3AOK in UTXO, not 5AOK. And when a new UTXO is created by sending the balance in the existing UTXO, the former UTXO gets expired. That is when sending 2 AOK in UTXO which have 3 AOK, new UTXO created about sent, 2 AOK and remain 1 AOK.

2. Asset Function

2.1. Issuing assets and transactions

The token name of AOK cannot be duplicated, and the first issuer issuing the token with that name becomes the owner of the project. The issuer determines the quantity issued, decimals (decimal), and whether more identical tokens can be issued in the future, by creating new RPC calls that incorporate tokens into the QT wallet and provide token management can easily issue new asset tokens and inform balance and send the asset to other users.

2.2. Multiple applications.

AOK can issue the token representing enterprise, foundation, independent project, association, and partnership. The rule of each token could be differ from the issuer of the corresponding token, and saving the logs is accomplished on AOK blockchain - distributed work. The rules can adopt several participating structures and be used efficiently. By using a token based on AOK MainNet Coin, users can trade assets more and the cost of it will decrease. Also, users can prove the innate assets and validity of the asset using tokens efficiently and openly.

3. Transaction Fee

3.1. Fee amount

When transactions occur in the AOK mainnet network, the commission will occur at least 0.0001 AOK and will be variable depending on the network's congestion. It is paid to the steak node where the block is found, along with all block rewards used for that block.

3.2. The condition of the issue of an asset

AOK has been developed as a logic that requires the transfer of a certain number of AOK mainnet coins to a specific address if a new asset is to be created in the form of a token to prevent the generation of indiscriminate assets. The name of the asset is unique and the unit or total amount of the asset can be determined and issued by the asset issuer. Published tokens can be used in a similar way to the ERC20 token of ETHEREUM, and the AOK MainNet network has been improved to enable more intuitive use under the Bitcoin-style command system, rather than the complex usage of the existing ERC20 ETHEREUM token. And in order to generate tokens of a certain quantity or higher, voting or certification can be mandatory to prevent the reckless issue of tokens like SPAM. As AOK's MainNet allows for more secure unique assets, AOK's MainNet blockchain ecosystem can be further expanded and has been developed to enable the development of DApps for various purposes and forms.