Btecointoken 白皮书英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...

Artificial intelligent payment system based on Block-chain Technology

White-Paper

Btecointoken White Paper

Btecointoken2020

Science is essentially a paradigm of cognition. Human rationality is

the legislation of nature. Humans have the innate ability to synthe-

size perceptual materials into interconnected appearances, and then

summarize some principles, which can be used to explain numerous

messy phenomena. Modern scientific systems generally follow the

Occam's razor principle, that is, explain the most with the least.

Science starts with knowing what it is, observing the world or exper-

imenting, and summing up many phenomena into the same causal

chain. Newton observed the tides of the sea, the movement of the

moon and the movement of the earth around the sun. He realized

that there was a common factor behind this. In fact, many fields of

science, such as mechanics, electromagnetic, thermodynamics and

chemistry, have gone beyond this stage.

However, technology is the key for humans to surpass animals, and

the core lies in practice. Since the first industrial revolution, science

and technology have begun to combine, and great energy has erupt-

ed.

Today, the fourth wave of industrial revolution represented by digital

technology is surging, and emerging technologies such as block-

chain and artificial intelligence are undergoing dimensional integra-

tion with the Internet, and their influence in the global economy and

human life is becoming stronger.

PREFACE

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TABLE OF CONTENTS

1.Industry background

1.1 Development status of Block-chain industry

1.2 AI market analysis

1.3 Pain points in the global payment industry

1.4 New trend of digital technology integration

2.Project introduction

2.1 BTE introduction

2.2 Core advantage

2.3 Application scenario

3.Platform architecture

3.1 BTE digital asset platform

3.2 Encrypted Wallet

3.3 Payment terminal

4.Technical system and Security

4.1 Security mechanism of Block-chain itself

4.2 Consensus mechanism

4.3 Mining algorithm

4.4 The core technology of artificial intelligence

4.5 The core technology of Block-chain

5.Issuance of Token

6.1 Issuance plan

6.2 Token distribution

6.Strategic planning

7.Risk warning

8.Disclaimer

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TABLE OF CONTENTS

INDUSTRYBACKGROUND

Chapter 1

BtecointokenWhite-Paper

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01Btecointoken White-Paper 01

1. Industry Background

※ 1.1 Development status of Block-chain industry

Since the birth of the Internet, the cost of information dissemination in human soci-ety has been greatly reduced, and the leap in efficiency has brought about a great liberation of productivity. However, there are inherent defects in the Internet. It is more concerned with the delivery of infor-mation than the ownership of information. Therefore, problems such as "data streak-ing" and "information ownerless" have appeared. Some information has a strong value attribute, such as remittance and transfer information. The transmission of these valuable information needs to rely on a third party to "escort". Therefore, the current value transmission cost of infor-mation is still high.

Block-chain has become the dawn to solve this problem. Because Block-chain is open and transparent, difficult to tamper with, and independent of intermediaries, Block-chain can achieve safe, efficient and low-cost value transmission. It is expected to build an Internet of value transmission based on blockchain. In the value Internet, the cost of value transmis-sion will be greatly reduced, and the pro-ductivity will be greatly liberated again. The unique advantages of Block-chain, such as the right to use data and efficient transmission of value, can be widely used in many industries, such as financial ser-vices, contract, charity, public welfare, Internet of things, etc., and Block-chain will change the face of many industries in the future.

Therefore, the blockchain is by no means an insignificant field, but an indisputable place for international military strategists. Just like the emergence of Android system constructs the basic guidelines. Through-out the ages, the blockchain is like going

through the recognition of the underlying technical architecture first. The next step is to enter the application stage.

"Decentralization" is the core framework of Block-chain. "Fairness, openness and fairness" is the soul of Block-chain. The core technology is the country's most important device. Block-chain is consid-ered to be the next IT wave after the Inter-net. At present, the application of block-chain is showing a trend of accelerating development from the wildfire to the hot direction on a global scale.

Since the 1970s, with the rapid develop-ment of cryptography technology, distrib-uted networks, consensus algorithms, and hardware storage computing capabilities, the conditions for establishing a cross-subject consensus coordination mechanism through technical means have become increasingly mature. It provides a new and more effective solution for solving the trust risk of intermediaries in a multi-agent environment, reducing trans-action costs, and improving collaboration efficiency.

The continuous development of Block-chain technology and the following upsurge of technology scenario applica-tion have aroused wide attention from geek circle to IT technology circle, finan-cial field, various industrial fields, govern-ment and public organizations, media public opinion, etc. Relevant parties have carried out extensive and beneficial explo-ration and practice around Block-chain technology research, industrial application, policy supervision, etc. Although the mature application of Block-chain tech-nology will take a long time, the idea of

Btecointoken White-Paper 02

Bitcoin and Ethereum, the top two cryptocurrencies in terms of market value, both face low performance bottleneck. With the increase of transaction volume and application, the prob-lems of network congestion and soaring fees have become increasingly prominent. In De-cember 2017, a Cryptokitties pet cat game caused delays in Ethereum's network and transaction confirmation due to the large number of users. The main network even appeared in an embarrassing situation of congestion.

In terms of transaction speed, bitcoin has 7 transactions per second and Ethereum has 30-40 transactions per second, which is difficult to bear high traffic pressure and meet large-scale commercial needs. Taking the typical application of the Internet as an example, during the Double Eleven in 2019, the peak value of inter-bank transaction settlement between banks was close to 100000 transactions per second. Although the current traffic of Block-chain industry is less than that of Internet industry, from the perspective of long-term development, TPS performance improvement is a far-sighted thing.

In terms of data storage capacity, due to the characteristics of Block-chain technology, data is only added and not removed, so the amount of data is only increasing. As time goes by, the demand for data storage size of the blockchain system will continue to increase, especially when processing enterprise data that grows in geometric multiples.

1.1.1 There are obvious performance bottlenecks in the mainstream public chains

1.1.2 Insufficient data storage capacity of Block-chain infrastructure

multi-subject consensus and collaboration brought by it will have a profound impact on social governance and business operation mode. Since 2019, the development of the entire industry has begun to get rid of the initial brutal expansion model, and it has gradually become rational and pragmatic. The number of block chain projects based on the concept of "sharing first, then consensus" continues to grow, and the application landing scenario is constantly broadening the boundary, and the cross domain and vertical deepening business ecosystem is increasingly improved.Although the great application value of block chain technology is increasingly recognized by all sectors of the society, the entire industry is still in the early stage of development. There is still a long process to achieve large-scale commercial use.At present, the Block-chain industry still has the following pain points:


1.1.3 The industry lacks a killer application

Previously, the scenario of Block-chain applications have focused on virtual currency. For this type of "virtual account balance" data content, the complexity of data volume and data structure is relatively simple. For the data in complex enterprise scenario, it contains a large number of structured and unstructured complex data. Taking e-commerce supply chain as an example, the number of daily data records is usually more than ten million. If it is further expanded along the supply chain, the data volume of each level of extension will be further enlarged.

At present, when the typical Block-chain system realizes the storage of ledger data, the typical way is based on a simple file system or a simple KV database stored and packaged in the block, which leads to the low storage efficiency, and there is a big gap with the actual storage requirements of complex business scenarios. Therefore, the future Block-chain infrastructure is bound to explore more effective big data storage methods.

※ 1.2 AI market analysis

From the concept proposed in 1956 to the large-scale outbreak in 2016, artificial intelli-gence has experienced three ups and downs in the past 60 years. In 1970 and 2000, the development of artificial intelligence fell into a trough. Currently, artificial intelligence is in its the third upsurge. In addition to the combination of technology and algorithm improve-ment, the biggest feature of this upsurge is that through the combination of deep learning

From the introduction of bitcoin to the present, practitioners of Block-chain have tried a variety of landing application sce-narios. Originally the application of coins, the emergence and hot speculation of var-ious virtual currencies have aroused wide-spread concern and discussion. The pos-sible bubble crisis brought about by the lack of effective supervision of data cur-rencies has also attracted the attention of various countries. As the underlying tech-nology of bitcoin, Block-chain can be used to solve some existing business pain points, and carry out a variety of innovative business models such as identity recogni-tion, data validation, credit management, value transfer, etc. As a result, some orga-nizational alliances have begun to form in finance and multiple industries, such as R3 and Hyperledger. The technology circle has gradually shifted more attention from "Coins" to various business applications of Block-chain.

At present, there are relatively few scenar-ios in which Block-chain technology can be applied in a wide range, and it is still in the exploration stage both in terms of technology and business. Extensive attempts have been made in many fields, such as supply chain management, Inter-net finance, securities and banking, trade financing, insurance, medical health, asset management, digital copyright protection, public welfare charity, government public services, regulatory compliance and audit, games, public welfare, etc.

The positive practices in the industry has further consolidated and deepened peo-ple's expectations for the potential appli-cation value of Block-chain technology. However, there is still no more mature killer application, and many concepts and business models only stay at the concep-tual stage without truly realizing the circu-lation of commercial value.


and big data, artificial intelligence has found real application scenarios in multiple fields, and combined with specific business scenarios, and started to play a huge role in the fields.

1.2.1 Artificial intelligence is being fully commercialized

At present, artificial intelligence technology has entered the stage of all-round commer-cialization, and it has had different degrees of impact on the participants of traditional industries, changing the ecology of various industries. This change is mainly reflected in three levels.

The first level is enterprise transformation: AI technology participates in enterprise man-agement process and production process, the trend of enterprise digitization is increasingly obvious, and some enterprises have realized more mature intelligent application. Such enterprises have been able to collect and use multiple dimensional user information through various technical means, and provide targeted products and services to consumers. At the same time, they can optimize and insight into the development trend of data to meet the potential needs of consumers.

The second level is industry transformation: the transformation brought about by artificial intelligence technology have caused fundamental changes in the upstream and downstream relationship of the traditional industry chain. The participation of AI leads to an increase in the types of upstream product provider, and users may also change due to the change of product attributes, from individual consumers to enterprise consumers, or both.

The third level is human resource reform: the application of artificial intelligence and other new technologies will improve the efficiency of information utilization and reduce the number of employees. In addition, the extensive application of robots will replace the labor force engaged in process work, resulting in an increase in the proportion of technical and management personnel, and changes in the company’s human structure.

1956

1957

2000

1986 2014

NOW

Al outbreak

First peak Second peak The third wave

Second troughAI born

1. Dartmouth Conference;2. Marking the birth of AI;

1970

First trough

1. Limited computing power breakthrough2. The machine fails to complete big data training;

1. DAl computer DARPA is not implemented2. Government input cut

1. Rosenblatt;2. Invention of the first neural network perceptron

1. BP algorithm appears;2. Large scale neural network training

1. Deep learning algorithm success2. The recognition rates of in the field of speech and visual recognition are 99% and 95% respectively


1.2.2 AI has fully entered the era of machine learning

Among the many branches of artificial intelligence, "machine learning" is one of the core research areas of artificial intelligence. 89% of artificial intelligence patent applications and 40% of related patents within the scope of artificial intelligence are machine learning. The original research motivation was to make computer system have the ability of human learning so as to realize artificial intelligence. The machine finds vacancies in existing knowledge, then it imitates human brain and simulate evolution, systematically reduce uncertainty, recognizes the same points of old and new knowledge, and complete learning.

Chaert 1 ：The all-round revolution brought about by artificial intelligence technology

Chaert 2 ： Diagram of all levels of artificial intelligence

TechnicalSupport

Sensor

Chip

Data

SoftwareFramework

CloudServices

AI technology field

AI applications

Smart medicine

Computervision

Wisdom Education

Knowledgecapture

Smart city

Intelligentadaptivelearning

Smart Finance

Robot

DigitalGovernment

Planning andoptimization

Intelligentmanufacturing

Expertsystem

Driverless

NLP

Algorithm

Back propagationalgorithm

Bayesian school

Probabilityreasoning

Research methods (schools)

Connectionism (deep learning)

Semioticism

Inverse deductionalgorithm

Nuclearmachine

Linearalgorithm

Decisiontree

logisticregression

Support vectormachine

…

…

…

Randomforest

Evolutionism

Geneprogramming

Analogyschool

Sale Security Anti fraud HRM MarketingManagement

Personalassistant

Intelligenttools

Augmented reality Gesture recognition Robot Emotion recognition

Finance Medical care Education Driverless Retail Manufacture

Digital Government Media Law Agriculture Logistics Oil and gas

Enterprise change

Industry change

Human Resources change


As the underlying logic of AI, algorithms are direct tool to generate AI. Judging from the historical process, artificial intelligence has gone through three stages since it was pro-posed in 1956. These three stages are also the process of algorithm and research method change.

The first stage was in the 1960s-1970s of the 20th century. Artificial intelligence has ush-ered in the golden age, and the research method dominated by logic has become the main-stream. Artificial intelligence uses computers to achieve machine-based logical reasoning, but it is ultimately difficult to realize.

The second stage was the 1970s-1990s, in which, from 1974 to 1980, the immaturity and prestige of artificial intelligence technology made it enter the "winter of artificial intelli-gence", artificial intelligence research and investment has been greatly reduced.

The third stage is after the 1990s, from 1993 to 2011, with the significant improvement of computing power and data volume, artificial intelligence technology has been further opti-mized. So far, the substantial increase in the computing power of the data volume has helped artificial intelligence to achieve great breakthroughs in machine learning, especially in the deep learning field dominated by neural networks. Based on the development of deep neural network technology, it has gradually stepped into a rapid development period.

In addition, data is an indispensable supporting element in the underlying logic of AI, and data processing for artificial intelligence will not be possible without data. Only with the pre-processing methods of data mining such as clarity, integration, reduction, etc., artifi-cial intelligence can have enough data to learn. With the iterative update of artificial intelli-gence technology, from data production, collection, storage, calculation, dissemination and application will be replaced by machines.

Chaert 3 ：Development history of artificial intelligence technology

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1.2.3 Global AI market exceeds US $ 6 trillion

Artificial intelligence will improve social labor productivity, especially in terms of effectively reducing labor costs, optimizing products and services, creating new markets and employ-ment, etc., which will bring revolutionary changes to human production and life. More and more governments and enterprises around the world gradually realize the importance of AI in economy and strategy, and get involved in AI from national strategy and business activi-ties.

The global AI market will experience phenomenal growth in the next few years. It is predict-ed that the world artificial intelligence market will exceed 6 trillion US dollars in 2025, with a compound growth rate of 309% in 2017 to 2025.

Chaert 4 ： Global AI market scale:

1.2.4 Continuous efforts of Al support system

As the "troika" that promotes the progress of artificial intelligence technology, algorithm, data and computing power have been continuously innovating in the past 5-10 years. In terms of algorithm, humans have achieved a breakthrough in machine learning algorithm, especially in vision and speech technology. In terms of data, the advent of the mobile Inter-net era has ushered in explosive growth in data volume.

Trillions of dollars


After a long period of development, the artificial intelligence algorithm model has covered many research sub-fields. Taking machine learning as an example, its core algorithms include least squares method, k-nearest neighbor algorithm, K-means algorithm, PCA analysis. The core models include linear regression, logical regression, decision tree, clus-tering, support vector machine and so on. The mainstream algorithm model library makes efficient implementation of common algorithm models: Caffe framework, CNTK framework, etc. are collected and integrated for different algorithm models, which has high practicabil-ity in the development and utilization of algorithm.

With the continuous improvement of big data technology, the acquisition cost of tag data on which artificial intelligence relies for learning is reduced, and the processing speed of data is greatly improved. The efficiency of broadband is improved. The continuous iteration of Internet of things and telecommunication technology provides the infrastructure for the development of artificial intelligence technology. In 2020, the number of devices connected to the Internet of things will increase to 50 billion. The development of 5G, which represents the milestone of telecommunications development, will provide the fastest information transmission speed of 1Gbps for the development of artificial intelligence.

In terms of computing power, thanks to the increased processing power of the chip and the reduction in hardware prices, the computing power has been greatly improved. Up to now, the computing power of global artificial intelligence is mainly GPU chip. However, as the technology continues to iterate, the types of computing units such as ASIC and FPGA will become the underlying technology that supports the development of AI technology.

Chaert 5 ：Market scale and growth forecast of China's AI chip market ( 2016-2020 )

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45.6

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Growth rateMarket scale of artificial intelligence chip ( 100 million yuan )

※ 1.3 Pain points in global payment industry

The main players in the global payment market today include not only Banks, Union pay, third-party payment licensed enterprises and mobile phone manufacturers. The merchant's cash register is full of swiping POS machines, various barcode scanning devices, and bar-code scanner cards. Merchants need to apply for accounts from various payment compa-nies, and find technical companies to implement the product and reconcile to each plat-form.


1.3.1 High organization costs

Centralized organizations are expensive because they need to aggregate information to make decisions, which reduces their ability to respond to changing environments.In addi-tion, centralization encourages the concentration of resources and power in the hands of minorities at the expense of the interests of vulnerable groups.

1.3.2 inflation risk

The modern financial system is very central, and governments and central banks in various countries control the issue of currency. Every time the hyper-currency inflation creates inflation is a plunder of social wealth. Inflation shrinks the wealth of people who borrow heavily from government. It is the government that ultimately benefits, and the public is the victim. Moreover, this situation does not come from people's willingness, but from the gov-ernment obtaining the legal monopoly power through the law, and using the police and the military to maintain the legal monopoly.

1. Centralized organization is costly

2. Easy to create inflation

3. Unable to establish a trusted system

Pain point


1.3.3 Unable to establish a trusted system

The ability of the bitcoin network to perform both coordination and trust functions is the key to the success of many financial organizations and currency systems. Compared with the previous payment system, bitcoin has truly realized the control independent of the cen-tralized system. By creating a system that does not require trust (interaction between strangers does not need to trust each other）, bitcoin transfers people's trust in the finan-cial system to their trust in the technology. In this way, bitcoin has demonstrated that it may implement a decentralized currency system that is independent of governments and com-panies.

※ 1.4 New trends in the convergence of digital technologies

Block-chain and artificial intelligence are two extremely popular technology trends. Although these two technologies have highly different developers and applications, researchers have been discussing and exploring their combination.

PWC predicts that by 2030, artificial intelligence will increase the world economy by $15.7 trillion, so the global GDP will increase by 14%. According to Gartner’s prediction, the busi-ness value of Block-chain technology will increase to $3.1 trillion in the same year.

Block-chain is a distributed, decentralized and immutable ledger used to store encrypted data. On the other hand, artificial intelligence is an engine or "brain" that can analyze and make decisions from the collected data. Each technology has its own complexity, but artifi-cial intelligence and Block-chain in a situation where they can benefit and help each other.Since both technologies can influence and implement data in different ways, their combina-tion is meaningful and can promote the utilization of data to a new level. At the same time, integrating machine learning and artificial intelligence into the Block-chain, and vice versa, can enhance the infrastructure of the Block-chain and enhance the potential of artificial intelligence.

Block-chain can also make AI more coherent and easy to understand, track and determine why to make decisions in machine learning. Block-chain and its ledger can record all data and variables that make decisions in machine learning.

In addition, artificial intelligence can improve the efficiency of Block-chain better than human beings. The current way of running Block-chain on standard computers can prove this. Even basic tasks require a lot of processing power.

The integration of the two leading digital technologies of blockchain and artificial intelli-gence is mainly concentrated in the following aspects:


1）Intelligent Computing

Running Block-chain and all its encrypted data on a computer requires a lot of processing power. For example, the hash algorithm used to mine bitcoin adopts a " brute force" method, which systematically enumerates all possible candidates for the solution and checks whether each candidate satisfies the problem statement before verifying the trans-action.

Artificial intelligence provides an opportunity to get out of this dilemma and deal with tasks in a more intelligent and efficient way. Imagine an algorithm based on machine learning. If you give it proper training data, it can actually improve its skills in “real time”.

2）Create diverse data sets

Unlike projects based on artificial intelligence, Block-chain technology creates a decentral-ized and transparent network that anyone around the world can access in a public block-chain environment. Although Block-chain technology is the ledger of cryptocurrencies, Block-chain networks are now being used in many industries to achieve decentralization. For example, Singularity NET is particularly focused on using Block-chain technology to encourage wider distribution of data and algorithm, helping to ensure the future develop-ment of AI and the creation of "decentralized AI".

Singularity NET combines Block-chain and artificial intelligence to create a smarter and decentralized artificial intelligence Block-chain network that can host different data sets. By creating an application programming interface in the Block-chain, it will allow the AI agents to communicate with each other. Therefore, different algorithms can be built on dif-ferent data sets.

3）Data protection

The development of artificial intelligence depends entirely on the input of data - our data. AI receives information about the world and what happens in the world through data. Basi-cally, data is the source of AI, through which AI will be able to constantly improve itself.

On the other hand, Block-chain is essentially a technology that allows encryption of stored data on distributed ledgers. It allows the creation of fully secure databases that can be viewed by approved parties. When Block-chain and artificial intelligence are combined, there is a backup system used to back up sensitive and high-value personal data of individ-uals.

Medical or financial data is too sensitive to hand over to a company and its algorithms. Store these data on a Block-chain that can be accessed by artificial intelligence, but only after obtaining permission and passing appropriate procedures can we provide personal-ized recommendations while safely storing sensitive data.


4）Data monetization

Another disruptive innovation that may result from combining these two technologies is data monetization. Monetizing the data collected is a huge source of revenue for giants like Facebook and Google. Having others decide how to sell the data to generate profits for the business shows that the data is being commercialized and there are potential risks. Based on encryption technology, Block-chain can protect data and use it in a way that users think is appropriate.

The same applies to AI programs that require data. In order to learn and develop AI algo-rithms, AI networks will be required to purchase data directly from their creators through the data market. This will make the whole process fairer than it is now, and no technology giant can its users.

Such a data market will also be open to small companies. Developing and delivering ai is expensive for companies that don't use it， generate their own data. Through a decentral-ized data market, they will be able to access other data that is too expensive and privately kept.

5）Trust AI decision

As AI algorithms become more intelligent through learning, it will become increasingly diffi-cult for data scientists to understand how these programs come to specific conclusions and decisions. This is because AI algorithms will be able to handle an incredible amount of data and variables.

However, the conclusions drawn by AI need to be further reviewed to ensure that they cor-rectly reflect reality. Through the use of Block-chain technology, all the data, variables and processes used in the decision-making process of artificial intelligence have unchangeable records. This makes the whole audit process easier.

Based on the appropriate Block-chain program, all the steps from data input to conclusion can be observed. The observer will ensure that the data has not been tampered with. It makes people believe the conclusion drawn by artificial intelligence and ensures the credi-bility of the calculation result of artificial intelligence.

PROJECTINTRODUCTION

Chapter 2


02


2. Project Introduction

※ 2.1 BTE introduction

BTET payment system is a payment trans-action system that can record payment trajectories and customized contract. Through BTET payment system technology platform, enterprises or developers can freely access API development system, and connect to their own development application to implement customized con-tract and online payment functions.

BTE aims to provide users with a sense of social payment experience. For example, WeChat cash withdrawals are made by a third-party bank to their bank card, and peer-to-peer transactions are realized at the same time. No third-party participa-tion is involved in cash withdrawal. They are used on websites such as Facebook and Google to purchase small websites with big data and high-tech intelligent robots. The decentralized transaction mode can be carried out arbitrarily through the digital assets of the local fiat currency or BTET payment system. The payee can also freely access the API development system, accept the contract and perform the responsibilities of the contract to obtain income. The non-countable modifi-cation technology based on Block-chain technology, if the payee fails to perform the terms of the contract, it will be perma-nently recorded by BTET payment system.

Developers can also publish new chains and make use of the payment system in the BTET payment system to realize the settlement mode through digital assets or fiat currencies, and establish intelligent contract IOT, Other Block-chain applica-tions. At the same time, it can form an integrated model with traditional applica-tion systems. BTET payment system cre-ates a new payment system with openness and ecology to realize a truly global pay-ment method, and build a decentralized self-care model credit inquiry platform and BTET payment system digital asset balance system by continuously adding new institutions and node users to access.

The user can deposit the digital asset bal-ance of THE BTET payment system through legal currency, and the BTET pay-ment system fund institution is able to value the fund. Therefore, BTET's payment system strives to create a block payment system that is applicable to both the pay-ment users and the enterprise chain in order to make the application of online payment technology more convenient and popular.

Payment chain that records payment trajectory and customized contracts

Create a new payment system with openness

and ecology

Decentralized self-care model credit inquiry platform and Bit-token

digital asset balance system

Universal block payment system suitable for paying users and

enterprise chains

BTE


※ 2.2 Core strengths

Transactions between different legal currencies are usually charged a few percent plus transaction fees.BETE payment system less than $0.01 for any transaction.

2.2.1 Low transaction cost

BTET payment system network does not require users to provide email, name, or any other information to provide consumers with privacy.

2.2.2 Anonymity

Sending a BTET payment system is like sending cash. After receiving it, there is no other fee. Payment by credit card and check, the payer must provide personal information, which may lead to fraud.

2.2.3 Security

Because the BTET payment system is irreversible, merchants can transact with anyone without worrying about regret. Like Ethereum, the BTET payment system is a sharable public database, and it is also a global ledger. The BTET payment system consensus mechanism allows all computers in the network to automatically receive updates to the general ledger information within a few seconds without going through the central data exchange center. This processing speed is a major breakthrough in the engineering of BTET payment system.

The design goal of the BTET payment system network is to seamlessly transfer any form of currency, whether it is US dollar, euro, pound, yen or bitcoin, providing solution. BTET pay-ment system is as open-source as bitcoin. Through P2P communication network, BTET payment system can be transferred from account to account like bitcoin, without any third-party software.

2.2.4 Stable


※ 2.3 Application scenario

The vision of BTET payment system is to build the future commercial Block-chain infra-structure, which can be applied to the Internet Financial margin trading and wealth storage of major online e-commerce malls. Through Taobao and JD.com in the form of ports, you can buy insurance, recharge your mobile phone, etc. online payment is as convenient as WeChat red envelopes. You can enjoy value-added income with money. Offline scan code payment not only drives consumption but also appreciation, many businesses are willing to receive BTE payment.

Whether it is institutional users, suppliers or individual users, it is very convenient to provide users with safe and convenient payment service system on BTET payment system. It is an innovation to provide consumers with payment and consumption services. The integration of BTET payment system and blockchain builds a global payment investment transaction ecosystem. It has subverted the previous consumption service mode and made all walks of life develop in a more healthy direction.

BETE payment system mainly has the following application scenarios:

1）Business display: Each business in the platform can display its own unique goods or services for consumers to choose;

2) Brand promotion: in the highly competitive industry, high-quality businesses can win the recognition of more consumers. Therefore, in BTET payment system, businesses can promote their own brand and enhance brand awareness.

场景

Merchant display

Branding

Consumer consumption

Service comment

Online payments

01

02

03

04

05Application scenarios

of BTE


3) Consumer consumption: individual users of each platform can view the evaluation of goods or services displayed by merchants on the platform, and select the service content they need; 4) Service evaluation: the platform has a complete evaluation system, after consumption, consumers can evaluate the services they receive; 5) Online payment: BTET payment system platform has strong technical support. The plat-form supports online secure payment, and the currency of the platform can be directly used for consumption payment.

With digital currency becoming a more extensive trading medium and a more important value storage carrier, it is an inevitable trend to use digital currency to create new value and obtain corresponding income. In the future, the market value of digital currency market will reach trillions of scales, and BTET payment system will become the one-click entry for the next generation of digital asset transactions, with huge market potential.

BTET payment system platform is simple and convenient for remittance operation, using the token as a medium, using the BTET payment system ecological transaction system to easily solve the problems of foreign exchange quota control, high handling fees, long time to account and so on. In addition, users who use BTET payment system can transfer funds free of charge and in real time, thereby saving a lot of handling fees in large trade, overseas remittances, and online shopping.

BTET payment system integrates advanced Ethereum Block-chain, big data and smart contract technology to open the digital era of global payment. Collect big data of payment transaction and mine data value. Using the Block-chain distributed data storage technolo-gy and non tampering characteristics, the real record of transaction source, transaction data, consumption data, payment regional data, etc., and the encryption and authentication of data information to ensure the credibility of data, and the traceability of data. Through authorization, data can be shared and traded externally. The platform adopts BTET pay-ment system project of smart contract for contract payment to ensure the fairness and efficiency of the transaction. BTET payment system aims to establish a more fair and transparent global digital payment system.

PLATFORMARCHITECTURE

Chapter 3


03


3. Platform architecture

※ 3.1 BTE digital asset platform

The digital asset platform of BTET payment system is positioned as the core support plat-form of the smart contract Block-chain technology established by Ethereum. The digital asset transaction process provides data collection, storage computing, analysis and pro-duction-level solutions to realize digital assets on the common chain. The BTET payment system is similar in function to WeChat wallet and Alipay wallet in terms of common chain payment, but because it is built on the basis of decentralized credit, it exceeds the limita-tions of countries and regions. In the global Internet market, it can play the role of high-ef-ficiency and low-cost value transfer that traditional financial institutions cannot replace. The BTET payment system provides a one-stop digital asset platform service through a distributed structure to realize payment, deposits, transfers, currency exchanges, and loans, so that the entire network can keep accounts and clear.

The digital asset platform of BTET payment system includes account management, finan-cial system, wallet system, exchange system, credit system and smart contract. Users first register their accounts on the digital asset platform of the BTET payment system. They can store money through the wallet system and carry out risk control through the credit report-ing system and smart contracts to ensure the security of transactions. Through the API

Secured transactions Instant transactionDelivery payment transaction

Trading system

Trading engine

Payment system

Charging system

Message system

Merchant notice

Records of consumption

Merchant inquiry

Communicate (email, text message, etc)

integration

Risk verificationAsynchronous transaction

event processing

Product accounting system

Red envelope system

Data persistence

Process engine

Rule engine

Timeout processing

Fund disposal

Product account access

Charge access

Merchant notice

Unified event

Business system

Transaction：

※ 3.3 Payment terminal

The full version of client is the best solution for super users, trustees and developers. It can be used for windows and Mac OS to sucks Linux, but it only allows Linux users who run the trustee node light wallet to link to the full version. The wallet can be directly connected to the API to the network, but only if the owner of the full version of the wallet has permission to open the API. The full version of the wallet will download the complete blockchain from other full version wallet nodes through the peer-to-peer network.

3.3.1 Full version client

For the convenience of customers and merchants, the payment applications of the "BTET payment system" contractual third-party payment platform will develop mobile App clients, including IOS clients and Andorid clients. It will continue to develop mobile applications iter-atively, and will introduce more functions to meet users' needs for transaction payment, asset management and market query.

3.3.2 Mobile client


※ 3.2 Encrypted Wallet

The BTET payment system fusion blockchain technology encrypted wallet is a software program that stores cryptocurrency. Using cryptography to ensure the security of data transmission and access, using smart contract composed of automatic script code to pro-gram and operate data, create encrypted wallet, and realize secure payment. Therefore, users can pay directly on the platform when they conduct transactions without their own security concerns. There are two meanings in the encrypted wallet of BTET payment system: one is the file storing the Ethereum address and private key, the other is the Ethe-reum client. Account owners have a private key to their wallet, which is the only way to access the Block-chain address, and therefore the only way to receive or send credit.

In the wallet, users can safely keep their Block-chain digital assets. In principle, Ethereum is just "ordinary" money in an ordinary wallet. Therefore, users will not put all their money in their wallet, and they will not find it very safe. In this case, the user needs to use a backup copy and a secure password. In addition, users can regard the wallet as a passbook, that is, a paper wallet. There is no Internet access, so it is not vulnerable to cyber hackers.

open interface, banking institutions, third-party applications, asset securities and mer-chant companies can connect with third-party users on the digital asset platform of the BTET payment system. After understanding the contract settings, users can pay by using the BTET payment system, enabling transactions and instant Understand the merchant offers dynamics for points redemption, etc.

Both the full version client and the mobile version client have the following functions:

a.Third party settle-ment ( collection and payment ):

Third party settlement (collection and payment): mainly refers to collection and payment (which can be batched), which can make payment to multiple different settlement treasure accounts at once, and the transfer funds are instantly received, which is fast and convenient. Including payment for various life scenarios, cross-border trade, etc.

b. Asset management: Asset management: Use private key signature to ensure the security of locally saved accounts, and make the assets clear at a glance. At the same time, it supports multiple wallet (digital / cash) types for easy import and export. It can also be used to prevent loss of mnemonic backup and multi signaturanti-theft.

c. Data Compass: Data Compass: this function can provide real-time transaction index monitoring, statistics and analysis; mining customer group characteristics, providing refined operation direction; cross comparison of peer data to grasp market trend.

d. One click Add: One-click Add: One-click addition of digital assets, real-time tracking of transaction trends, and attention to changes in asset balances.

e. Credit management: Credit management: Users can view and manage their own credit score and equity directly in the App.

f. Pay attention to the market:

Pay attention to the market: you can follow the market of major exchanges in the BTET payment system" client, set price reminders to grasp investment opportunities, and also built-in transaction exchange services.

g. Integrated DAPP: integrated third-party DAPP (decentralized application) interaction, pushed industry information, technological progress, provide multi-dimensional data information to discover investment op-portunities.


01

02BTE

client function

0304

05

06

Third-party settlement (receipt and payment) and asset management

Data compass, transaction monitoring

One-click addition, real-time tracking

Integrate third-partyDAPP

Follow the market of major exchanges around the world

Users manage their own credit score

TECHNICAL SYSTEM AND SECURITY

Chapter 4


04


4. Technical system and Security

※ 4.1 The security advantages of the Block-chain itself

Today, hackers can disrupt the whole network, tamper with data or induce careless users to fall into security traps. They steal identity information and cause other security threats through attacks on centralized databases and single point of failure. However, the mode of data storage and sharing in Block-chain technology is quite different from the current information security. Both bitcoin and Ethereum use the same cryptography technology to secure transactions, but now they can also be used as a tool to prevent security attacks and threats. The advantages of Block-chain in information security mainly lie in the follow-ing aspects:

Use highly redundant databases to ensure data integrity of information.

Data verification using cryptographic principles to ensure that it cannot be tampered with.

In terms of access management, multiple private key rules are used to con-trol access rights.

All transaction data on the block chain are attached with the digital signature of the trader, and cannot be forged.

Multiple security applications can be developed using the security advantag-es of Block-chain.

Certcoin, developed by MIT, may be the first PKI application based on Block-chain. PKI is a common form of public key password that can be used to protect mail, message applica-tions, websites and other forms of communication. However, because most PKI interfaces need to rely on centralized, trusted third-party certification authority (CA) to issue, revoke, and save key pairs for each participant, hackers can gain access to encrypted communica-tions by impersonating the user ’s identity. While CertCoin removed the centralized author-ity and used the blockchain as a distributed ledger to distribute the public key, which can effectively reduce the risk of single point intrusion by hackers.

Based on the block chain to build the chain structure storage, the authentication is divided into three parts: existence proof, process proof and auditable proof. For the authentication processing of any digital asset, we can follow these three steps to achieve data record security and supervision compliance.

The consensus of the participants of the BTET payment system is the core of the entire BTET payment system. If there is no central institution, the participants of the Block-chain will also need to agree on the agreed terms. Edward Shils’ "consensus concept" requires the following conditions to facilitate the consensus: 1) Group members accept laws, rules and regulations together. 2) The group members unanimously recognize the institutions that implement these regulations. 3) Identity or solidarity, so that the group members will recog-nize that they are equal in terms of the consensus reached.

In the field of computing, consensus has evolved from an abstract to a concrete, and it has a very important position in computer science, especially in the application of distributed ledgers. In the distributed ledger of the BTET payment system, the consensus mechanism is that each network node jointly recognizes the user's behavior trajectory data and user credit data, and updates the ledger according to this rule. Therefore, in blockchain technol-ogy, consensus can be summarized as the rules and procedures for the fact that the nodes in the system participate in management.

The DPOS consensus mechanism is somewhat similar to the board vote. In a decentralized system, the decision-making power is distributed to all the holders, and when the holders vote more than 51%, the decision is considered to be passed, and the decision is irrevers-ible. In this mechanism, there is an important role called representative, which is the node that generates the block. If you want to be a representative, you must pay a certain amount of security money to ensure the credibility of the representative. User have the right to elect representatives. Each user can vote for a trusted representative. The top n representatives who get the most votes in the whole network have the right to produce blocks. The number of votes held by these n representatives is equal to the number of shares held by the node. The n represents will produce blocks in turn according to the schedule. If the number of shares passed by the generated blocks exceeds 51%, it is considered that the blocks are successfully generated, which means that each generated block will get benefits from the handling fees of transactions in the blocks, and these benefits will also represent an incen-tive mechanism to maintain online participation.

In the DPOS consensus mechanism, the reliability of the delegate is particularly important. When the currency holder selects the delegate, he can see the error rate of the delegate block, so that he can select the delegate correctly. On the other hand, representative blocks are generated in turn according to time, so when a representative generates a block in error, as long as the 51% approval is not obtained, the block will be generated by other rep-resentatives in the next time period. It can be said that DPOS consensus mechanism is more effective than POS consensus mechanism.

DPOS consensus mechanism is a real consensus mechanism to get rid of mining. However, it depends on the votes of all participants. When the participation is not enough, the repre-sentatives tend to be concentrated in the hands of the holders who hold a large number of votes in the entire network, thus losing the characteristics of decentralization. But on the other hand, the third party has laid a strong user base through the application scale and fre-quency of use and the fiery degree of the blockchain, this risk is minimized.


※ 4.2 Consensus mechanism

he encryption calculation of digital currency includes two aspects: 1) public key system to achieve digital signature, 2) one-way encryption to achieve the integrity calculation of transaction records. The miner machine is mainly responsible for the latter calculation. The integrity calculation of transaction data is realized by specific mathematical functions. The

4.3.1 Mining computer system


※ 4.3 Mining algorithm

For any digital currency system, mining has two meanings. Firstly, mining is the basic pro-cess of generating money supply, which is the fundamental motivation of miners. Secondly, the mining process is actually to encrypt the integrity of transaction data, so as to form a checksum, so it is also the core means to protect currency credit and prevent fraud.

Submit No pre-voting

No advancesubmission

Block chain pre-submission

Block chain pre-voting

Waiting for a pre-vote on 2 / 3 shares

Waiting for a pre-vote on 2 / 3 shares

Proposal

Valid and invalid

Failed to receive block on

time or invalid block

Pre-vote for 2 / 3 shares in the block

No pre-voting for 2 / 3 shares in the block

No pre-voting for 2 / 3 shares in the block

Pre-vote for 2 / 3 shares in the

block

A new round

New height of block chain

Block chain requires a certain amount of proof of work (POW) mechanism, which aims to prevent the so-called Block-chain fork J or 51% attack, that is, miners need great comput-ing power to successfully tamper with the ledger. At present, the most common POW

4.3.2 Mining machine algorithm of BTET payment system

（1）compressibility: any length of transaction is calculated as a short string with a fixed length;

（2）The hidden： The calculation is unidirectional, that is, it is difficult to deduce the original text from the calculation results. Here we need to consider that the current rapid development of quantum cryptography technology-based cryptosystems are vulnerable to quantum computing;

（3）computational： the calculation process requires a certain amount of work that can be proved, and the calculation intensity ( reflected in the calculation time ) is relatively controllable.


In addition to the above conditions, if mining computing can complete applications beyond cryptocurrency (such as scientific computing and machine learning), then the hardware loss and power consumption accompanied by the powerful computing power of mining machine net-work will have the value beyond mining, which in turn will enhance the value of digital cur-rency.

current system generally adopts the hash function of Sha and its variants, which needs to meet the following three requirements:

Compressibility The hidden

Computational

mechanism is the hash function. After the miner integrates the transaction record into a block, the content of the block needs to be hashed. The result of the operation is first a representation of the integrity of the record content. Secondly, after the hash calculation is compleded, the miner checks whether the result meets specific conditions (for example, it is less than a certain threshold value). If not, the same hash calculation will be carried out again until the threshold value is met. In this way, the miner must complete a certain amount of calculation before submit the block. The algorithm of mining machine based on POW can usually be summarized as follows:


Initial random number

Successfully mining

Transform random number

HASH operation

Whether the result meets the requirements of difficulty coefficient

Yes

No

Implementation ofPOW algorithm

Transactiondata

Figure: how traditional POW is executed

The POW mechanism is of great significance to the security of block chain, but its calcula-tion results have no significance to other aspects of human life, which is also a major reason for criticism of Ethereum and other cryptocurrencies. The pow model of BTET payment system is constructed as follows:


Traditional POW meter

HASH operation

Transform random number

Successful mining

Forming the basic data of

HASH calculation

Submit bits to pass results

Receive individual resource

computing tasks

Submit resources for basic rewards

Individual service task

Transaction data

Solve the problem

Calculationof BTET

The degree of completion is not up to

standard

Bit calculation with General Certificate and HASH results

Figure: schematic diagram of mining calculation based on two-stage POW

The pow of BTET payment system actually consists of two parts: (1) public welfare calcula-tion stage of BTET payment system; (2) the traditional POW stage.

In the public welfare calculation stage, each node will select one of the public welfare cal-culation problems of BTET payment system to solve according to the random number ob-tained by consensus. This problem contains a series of candidate BTET payment system problems, which must be solved by long-term fitting calculation to approach a certain result, and the problem belongs to the initial condition sensitive algorithm. When the fitting target fails to meet the standard within the specified time, the node will be disqualified from the next step of traditional POW calculation and will enter the individual task receiving status; basic rewards will be obtained by calculating the resource services published by BTET payment system. When the fitting completion is up to the standard, it enters the tra-ditional POW solving stage.

In the pow solution stage, each qualified node will check the integrity of the transaction block and the submitted results of the BTET payment system parameters to obtain the random value within the specified difficulty. When the random value is obtained, it will be released quickly throughout the network. The node receiving the release result will verify the difficulty of BTET payment system and whether the hash verification value meets the requirements. If it is satisfied, it will be transferred to the next block calculation quickly, otherwise, the local POW calculation will continue. The core of the above implementation scheme is:

Through the calculation of BTET payment system, the basic POW candidates are deter-mined, and those who are not within the specified time are not. The best choice is to con-duct public welfare calculation to obtain individual service income.

POW takes the calculation results of BTET payment system as the verification basis; how-ever, since BTET payment system and hash calculation are usually independent calculation methods, the calculation capacity of BTET payment system in the two stages can also be used as public welfare calculation to obtain individual service income.

Through parameter configuration, BTET payment system can choose to support only two-stage operation or all stage operation.


BETE payment system is a Markov process which satisfies the detailed stationary condition by random sampling, and makes the sample distribution approach the objective function arbitrarily.The calculation of Bayesian posterior probability usually depends on BETE pay-ment system. The common sampling algorithms include metropolis Hastings (MH), Gibbs, slicing, etc.Among them, MH algorithm is considered as one of the top ten algorithms in the 20th century. Its basic idea is to decide whether to accept samples according to the likeli-hood probability ratio. The following figure is the process of sampling step by step from a random starting point, and the distribution of the right half of the sampling results is the target distribution.BETE payment system algorithm has the following characteristics:

4.3.3 The features of BTET payment system algorithm


（1）large amount of calculation:

complex distribution often needs millions or more sam-pling times, and the calculation time is huge;

（2）low parallelism: in the sampling process of the classical BETE payment system algorithm, the samples generated successively are order dependent and difficult to parallelize ;

（3）widely used: BETE payment system is the core model of Bayesian computing, which has important applications in finance, payment, advertising media, website click and other fields;

（4）easy to evaluate: Although the calculation process of BETE payment system is complex, it is relatively easy to evaluate the quality of calculation results, for example, it can be evaluated by likelihood function.

01

Low parallelism

04

Easy to evaluate

03

Wide range of applications

The amount of

computation is large

Large amount of calculation


※ 4.4 The core technology of artificial intelligence

Machine learning is an interdisciplinary subject involving statistics, system identification, approximation theory, neural network, optimization theory, computer science, brain science and many other fields. It is the core of artificial intelligence technology to study how com-puters simulate or realize human learning behavior, acquire new knowledge or skills, and re organize the existing knowledge structure to improve their own performance Heart.Da-ta-based machine learning is one of the most important methods in modern intelligent technology. The research starts from the observation data (samples) to find the rules, and uses these rules to predict the future data or the no observable data.According to different learning modes, learning methods and algorithms, machine learning has different classifi-cation methods.

1）According to the learning model, machine learning is classified into super vised learning, unsupervised learning and reinforcement learning.

2）According to the learning method, machine learning can be divided into tradi tional machine learning and deep learning.

3）In addition, the common algorithms of machine learning include transfer learning, active learning and evolutionary learning.

4.4.1 Machine learning

Knowledge map is essentially a structured semantic knowledge base, which is a graph data structure composed of nodes and edges. It describes the concepts and their relationships in the physical world in the form of symbols. Its basic unit is the triple of "entity relationship entity", as well as the entity and its related "attribute value" pairs.Different entities are con-nected with each other through relations, forming a network of knowledge structure.In the knowledge map, each node represents the "entity" of the real world, and each edge rep-resents the "relationship" between entities.Generally speaking, knowledge map is a rela-tionship network which connects all kinds of information together and provides the ability to analyze problems from the perspective of "relationship".

Knowledge map can be used in anti-fraud, inconsistency verification, group fraud and other public security fields, and data mining methods such as exception analysis, static analysis and dynamic analysis are needed. In particular, knowledge map has great advantages in search engine, visual display and precision marketing, and has become a hot tool in the industry. However, there are still great challenges in the development of knowledge map, such as the noise problem of data, that is, the data itself has errors or the data has redun-dancy. With the deepening of the application of knowledge map, there are still a series of key technologies to break through.

4.4.2 Knowledge graph


Natural language processing is an important direction in the field of computer science and artificial intelligence. It studies various theories and methods that can realize the effective communication between human and computer with natural language, involving many fields, including machine translation, machine reading comprehension and question answering system, etc.

4.4.3 Natural language processing

Human computer interaction mainly studies the information exchange between human and computer, including the two parts of information exchange from human to computer and from computer to human. It is an important peripheral technology in the field of artificial intelligence.Human computer interaction is a comprehensive subject closely related to cog-nitive psychology, ergonomics, multimedia technology, virtual reality technology, etc.

Traditional information exchange between people and computers mainly relies on interac-tive devices, including keyboard, mouse, joystick, data clothing, eye tracker, position track-er, data glove, pressure pen and other input devices, as well as printers, plotters, displays, helmet displays, speakers and other output devices.

In addition to the traditional basic interaction and graphical interaction, human-computer interaction technology also includes voice interaction, emotional interaction,Bodily sensa-tion interaction and brain computer interaction. The following four typical interaction meth-ods closely related to artificial intelligence are introduced.

4.4.4 Human-computer interaction


Computer vision is the science of using computer to imitate human vision system, which enables computer to have the ability to extract, process, understand and analyze images and image sequences similar to human beings.Automatic driving, robot, intelligent medical and other fields need to extract and process information from visual signals through com-puter vision technology.Recently, with the development of deep learning, preprocessing , feature extraction and algorithm processing are gradually integrated to form the end-to-end AI algorithm technology.According to the problems solved, computer vision can be divided into five categories: computational imaging, image understanding, 3D vision, dynamic vision and video coding and decoding.

4.4.5 Computer vision

Biometric identification technology refers to the identification and authentication of indi-vidual identity through individual physiological or behavioral characteristics.From the per-spective of application process, biometric recognition is usually divided into two stages: registration and recognition.In the registration stage, the biometric information of human body is collected by sensors, such as using image sensors to collect optical information such as fingerprint and face, microphone to collect acoustic information such as voice, etc., using data preprocessing and feature extraction technology to process the collected data and get the corresponding features for storage.The recognition process uses the same information collection method as the registration process to process the information col-lection, data preprocessing and feature extraction for the recognizer. Then the extracted features and stored features are compared and analyzed to complete the recognition.From the perspective of application tasks, biometric recognition is generally divided into two tasks: identification and confirmation. Identification refers to the process of determining the identity of others to be recognized from the repository, which is a one-to-many problem. Confirmation refers to the process of comparing the information of others to be recognized with the information of specific individuals in the repository to determine the identity, which is a one-to-one problem.

Biometric recognition technology involves a wide range of content, including fingerprint, palm print, face, iris, finger vein, voice print, gait and other biometrics. Its recognition pro-cess involves image processing, computer vision, voice recognition, machine learning and other technologies.At present, as an important intelligent identity authentication technolo-gy, biometrics has been widely used in finance, public security, education, transportation and other fields.Next, we will introduce fingerprint recognition, face recognition, iris recog-nition, finger vein recognition, voiceprint recognition, gait recognition and other technolo-gies.

4.4.6 Biometrics


1）Distributed bookkeeping.BETE payment system establishes a set of Distrib-uted Accounting System in which everyone can participate in recording informa-tion through the voluntary principle, so as to decentralize the accounting respon-sibility, and all participants of the whole network will record together. 2）Distributed propagation.Each new transaction in the block chain adopts a distributed structure. According to the P2P network layer protocol, messages are sent directly from a single node to all other nodes in the whole network. 3）Distributed storage.All data in the database are stored in all computer nodes of the system and updated in real time.The completely decentralized structure enables the data to be recorded in real time and updated in every network node participating in data storage, which greatly improves the security of the data-base.

storage, transaction verification and information transmission process in the system are all decentralized.In the absence of a center, large-scale sharing industry participants will reach a consensus to jointly build a block chain database.

※ 4.5 The core technology of Block-chain

BETE payment system is based on the open source and decentralized protocol determined by the block chain Ethereum smart contract technology development system. It constructs a distributed architecture, which enables the information of value exchange to be sent to the whole network through distributed propagation, determines the information data con-tent through distributed bookkeeping, generates block data after time stamping, and then sends it to each other through distributed propagation Node to realize distributed stor-age.Specifically, the distributed structure is reflected in three aspects:

4.5.1 Distributed structure

1

2

Distributed storage

3

BTE-to-pass distributed structure

Distributed accounting

Distributed propagation point-to-point network

Participate

Record

Transaction Node

Record

Data

1）Multiple users participate in the development of a smart contract.According to the needs of multiparty users, a commitment includes the rights and obligations of both parties; the commitment is to carry out digital processing, and the user obtains a pair of public keys and private keys given by the block chain. The public key is the account address of the user on the block chain, and the private key is the only key to operate the account.Users sign with private key to ensure the validity of the contract. 2）The contract is spread through P2P network and stored in block chain.Block chain is an end-to-end network of P2P. The contract spreads in the whole block chain network through P2P, and each user will receive a contract.The received contracts will be temporar-ily saved in the block chain. After multiple rounds of sending and comparison verification of consensus time, a consensus set of contracts will be finally reached and spread to the whole network in the form of blocks. 3）The smart contract built by block chain is executed automatically.The consensus algo-rithm of the block chain will build a set of state machine system. The smart contract will check the state of the state machine regularly, push the transactions that meet the condi-tions to the queue to be verified, and wait for consensus; the transactions that pass the verification will enter the consensus set, and after most verification nodes reach consensus, they will successfully execute and notify the user.


Smart contract is a block chain 3.0 product. Through three main steps, a smart contract transaction mechanism is established to realize the whole process from formulation to automatic execution:

4.5.2 Smart contract protocol

Contractregistration

Contract generation

Security check

Registration consensus

Contract Storage

Contract trigger

Contract execution

Construct a mirror image

Code execution

Timing trigger

Event triggered

The deal triggered

Other contract triggers

Status consensus

Error rollback

Contract cancellation

Contract inspection

Contract transfer

Consensus handling

Contract cleaning


BETE payment system needs to upgrade its rules with the increase and accumulation of network data, so it is necessary to introduce decentralized autonomous mechanism.It can be separated from the current system constraints or endorsement by a third-party organi-zation, and both parties can directly achieve value delivery.This "decentralization" feature can effectively reduce transaction costs, improve transaction efficiency and reduce friction caused by transaction consistency.The implementation of decentralized autonomy also has traceability.Any new transaction, payment data source and transaction direction attached to the block chain will lead to the transformation of the global status of the ledger.This means that in every new iteration of the system, the previous state will be stored, making the history log fully traceable.The audit capability of block chain provides the company with the security and transparency of each iteration.

4.5.3 Decentralized autonomy

The payment system of BTET is traceable in nature. It refers to the data improvement system that can track users' behavior or credit information system in the forward, reverse or non-directional direction. As long as users use payment data or transaction records on the platform, the data traceability system will continue to collect user behaviors and habits until a unique data chain is formed for each user and the data model system is improved. The opening of this system is to open up a channel for suppliers to have a deeper under-standing of user information, so as to solve the problem of too much information noise, asymmetry and opacity.

4.5.4 Traceability

BTET payment system is based on the not tamper-proof technology of Block-chain. If the payee fails to fulfill the contract terms, it will be recorded by BTET payment system forever. Developers can also publish new chains and use them in BTET payment system to realize settlement mode through digital assets or legal currency; build other Block-chain applica-tions of smart contract IOT, and form integration mode with traditional application system.

BTET's payment system creates a new payment system in an open and ecological way, realizing a truly all-domain payment method, and builds a credit inquiry platform with inde-pendent center mode and a digital asset balance system of BTET's payment system by adding new institutions and nodes and users' access. Users can deposit the balance of dig-ital assets in BTET's payment system through legal currency. BTET's payment system fund institution can conduct value application of funds, and it can be applied to the payment user and enterprise chain common block payment system, so as to make the application of online payment technology easier and faster.

4.5.5 Not tamper-proof

ISSUANCE OF TOKEN

Chapter 5


05


5. IIssuance of Token

※ 5.1 Issuance plan

※ 5.2 Token distribution

1) Project name: bitto pass

2) English Name: bteointoken

3) Abbreviation: BTE

4) Total issuance amount of general pass: the total amount of general pass to be issued is constant to 18 million and will never be increased.

5) Total amount of the first issue: it is proposed to issue 5 million certificates in total and will never issue additional certificates.

6) Receiving currency: eth.BTE is a decentralized digital asset based on Ethereum erc2.0 technology.

7) Wallet mechanism: link computing power, fission computing power, compound inter-est computing, currency appreciation.

20% reward early investors.

40% of the platforms operate.

20% of technology development.

10% of start-up teams and consultants.

10% marketing expenses

STRATEGIC PLANNING

Chapter 6


06


6. Strategic planning

2018 Q2 in-depth study of Block chain and Intelligent contract Oper-ation Mode

2018 Q3 Stress test and logic deduction based on ETH main chain are carried out, and the model and BTE consumption are established.

Phase Ⅰ 2018-2019

Potential-MVP Model, logical deduction, Feasibility investigation of underlying Architecture

2019 Q1 Complete the construction of the frame tower and the bottom of the block chain

2019 Q2 Complete the core business logic, complete the client carrier

2019 Q3 The ecology is fully launched, the operation is warmed up, and the integration of bit to token is completed. Open API to the outside world, provide an open platform, large-scale publicity

2019 Q4 Open API to the outside world, provide an open platform, large-scale publicity

Phase Ⅱ 2019-2020Thick accumulation-complete the core business logic, occupy the payment industry market, online the whole ecology

2018

2019

2020-2021 The construction of payment message supply chain and payment application service platform;

2020 Q4 The BTE main chain is expected to be listed in the top ten exchanges in the global digital currency market in 2020

Phase Ⅲ 2020-2022Rise-bit expansion of the whole industrial chain with pass-through certificate

2020

2020-2021 Pay for the layout of the relevant industry axis

2023-2024 Online open platform

Phase Ⅳ 2020-2022Barbarous growth-parallel payment related industry axis POI occupation

2022

RISK WARNING

Chapter 7


07


7. Risk warning

There are various risks in the development, maintenance and operation of BTE, many of which are beyond the control of BTE developers.In addition to other contents mentioned in this white paper, participants are fully aware of and agree to accept the following risks:

（1）market risk

The price of BTE is closely related to the situation of the whole digital money market. If the overall market is low or there are other uncontrollable factors, it may cause BTE itself to be undervalued for a long time even though it has a good prospect.

（2）regulatory risk

As the development of Block-chain is still in its early stage, there are no regulatory docu-ments related to the requirements, transaction requirements, information disclosure requirements, lock-in requirements, etc. in the global raising process.At present, it is not clear how the policy will be implemented. These factors may have an uncertain impact on the development and liquidity of the project.Block-chain technology has become the main object of supervision in various major countries in the world. If the regulatory body inter-venes or exerts influence, BTE may be affected by it. For example, BTE may be restricted by laws and regulations.Hinder or even directly terminate the application and development of BTE.

（3）competition risk

At present, there are many projects in the Block-chain field, with fierce competition, strong market competition and project operation pressure.Whether BTE project can break through in many excellent projects has been widely recognized. It is not only linked with its own team ability, strategic planning and other aspects, but also affected by many competitors in the market. It is possible to face vicious competition.

（4）risk of brain drain

BTE has gathered a talent team with both vitality and strength, attracting senior practi-tioners of Block-chain and rich technical developers.In the future development, it is not ruled out that there is the possibility that the BTE as a whole will be negatively affected due to the departure of core personnel and conflicts within the team.The accelerated develop-ment of project technology risk cryptography or the development of technology, such as the development of quantum computer, or the risk of cracking to BTE platform, may lead to the loss of BTE data.Vulnerabilities may occur during project update.The vulnerability will be repaired in time after it is found, but there is no guarantee that it will not cause any impact.


In addition to the risks mentioned in this white paper, there are also some risks that have not been mentioned or anticipated by the founding team.In addition, other risks may appear suddenly, or in the form of a combination of several mentioned risks.Participants are invit-ed to fully understand the team background, the overall framework and ideas of the project, and participate rationally before making the participation decision.

DISCLAIMERChapter 8


08


8. Disclaimer

This document is for the purpose of conveying information only. The content of this docu-ment is for reference only and does not constitute any advice, solicitation or invitation to sell shares or securities in BTE and its related enterprises.This document does not consti-tute or understand to provide any trading behavior, nor any form of contract or commit-ment.Given the unpredictability, the objectives outlined in this white paper may change.While the team will strive to achieve all of the objectives of this white paper, all individuals and groups who purchase BTE will take their own risks.

The content of the document may be adjusted in the new white paper as the project pro-gresses, and the team will publish the updated content to the public by publishing an announcement on the website or the new white paper.This document is used to convey information to specific objects who actively require to know the project information, and does not constitute any investment guidance in the future, nor any form of contract or commitment.

Btecointoken 白皮书英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...

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Transcript of Btecointoken 白皮书英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...

Btecointoken 白皮书 英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...

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Transcript of Btecointoken 白皮书 英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...

Btecointoken 白皮书英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...

Transcript of Btecointoken 白皮书英文 6btebte.com/file/Btecointoken-5.30en.pdfduring the Double Eleven in...