An Anonymous and Private Public Blockchain Based on CPOC Consensus Mechanism.

Fogchian token which refers to FOG token, is based on Condition-ed Proof of Capacity(CPOC) con-sensus mechanism. Its functions of anonymous transmission, enc-rypted transactions, optimized CPOC consensus algorithm and r ing conf ident ia l t ransact ion algorithm further enhanced its efficiency and privacy. Through modular code des ign and the introduction of the Ethereum virtual machine to implement program-mable smar t cont r a c t s , F O G provides more complete payment process and commercial feasibility, which builds a secured and free decentralized anonymous network.

FOG puts security, stability and scalability first in its design. By optimizing the consensus alg-orithm, block capacity, group signing algorithm, etc. , i t can achieve ultra-high performance w h i l e r e d u c i n g e n e r g y c o n -sumption. In response to various challenges of the limitations of blockchain technology and ind-ustry applications, FOG proposed CPOC's maincontrol contract and oracle trigger mechanism, which can realize on chain and off-chain data Collaborate and achieve its interaction with the real world and contract execution.

1.The Origin

The Status of Cryptocurrency Industry

Encrypted tokens represented by Bitcoin have three typical cha-racteristics: one is that there is no central issuer and the algorithm automatically generates tokens; the other is the use of blockchain which achieves remote peer-to-peer circulation; the third is that the token's supply and demand determine its price and the token itself No intrinsic value. Continued price volatility has made encrypted tokens, such as Bitcoin, regarded as speculative asset holdings and transactions rather than just a transaction media.

According to CoinMarketCap, as of November 1, 2019, there were 3053 digital coins in the world. The top three market capitalizations were Bitcoin, Ethereum, and Ripple. Among them, Bitcoin has a market value of approximately USD 164.7 billion and a unit price of USD 9294; There are 1497 kinds of tokens. The top three market capitalizations are Tether, Bin-anceCoin and OmiseGO, of which Tether has a market value of ab-out $ 2.9 billion and a unit price of about $ 1.

In addition to investment needs, encrypted tokens have been used as one of the daily payment methods in some countries or regions. For example, BicCamera, a Japanese retailer, and bitFlyer, a Japanese bitcoin exchange, jointly launched a bitcoin payment service. In April 2017, their pilot store accepts bitcoin payments, and in July extended the option to accept bitcoin payments to entire country. RecruitLifestyle and the Japanese Bitcoin Exchange Coincheck have reached a cooperation to help their "AirRegi mobile payment" shopping app accept Bitcoin payments, and announced in July 2017 that AirRegiAPP began to provide Bitcoin payment options. By scan the QR code on AirRegiAPP, customer can to pay with Bitcoin. British cosmetic giant Lush announced in July 2017 that its online store accepts encrypted token payments, aiming to bring more international orders to its online store. Through the application of the global decentralized currency, it will open up a new dawn with international Markets, suppliers and charities.

POW POWER Comsumption

POW (Proof of Work) is one of the oldest consensus mechanisms. The most typical representative of the POW application is Bitcoin(BTC). Miners must calculate a certain cryptographic hash function when mining a new block. The random hash value in the block starts with one or more zeros. As the number of zeros rises, the amount of work required to find this solution will increase exponentially. Eventually, m iners w i l l f i nd th i s so lu t ion through repeated attempts. This is the basic principle of the POW algorithm.

BTC has been operating stably for more than 10 years since its birth, and the POW consensus mech-anism has also proven its security and stability.The POW consensus mechanism is a hash competition that consumes a lot of energy to do hash calc-ulations in order to maintain the stability of the blockchain with high computing power. In periods of high computing power, atta-cking the blockchain requires rela-tively higher costs. However, if the computing power of the entire network is reduced, double-spend attacks are easy to occur, which happened on BTC and ETC.

In addition, the POW consensus mechanism is high in energy consumption and causes a serious waste of resources. According to reports, in recent years, the global electricity consumption for mining has reached a staggering 1% of the world's total annual electricity consumption.

Another challenge brought by the huge energy consumption is even more serious: POW computing power is reflected through energy consumption. Since energy is controlled by government in any country, as the POW computing power gradually expands, excessive energy consumption will cause a series of social problems. It is likely that the government will intervene to cause POW's network-wide computing power fluctuations, and security will be reduced. This reduction in computing power brought by energy reduction will further affect the difficulty of the entire block production and the profit of the mining machine. This kind of challenge threatens the correctness and security of the entire consensus.

Comparative Analysis of POC and POW

Since the birth of BTC, POW has become the most famous and significant consensus mechanism. POW is that the miner conti-nuously performs hash calcul-ations while processing trans-action data and finds the nonce gold number. When a miner has-hes out a nonce on the entire network, he will publish his own packaged block. After other nodes receive the block, they will verify the correctness of it. Eve-ntually, a correct and verified bl-ock will be connected to the blo-ckchain.This design ensures the sustainability, robustness and security of the entire blockchain system.

The advantages of POW include: 1. complete decentralization; 2. nodes can enter and exit freely, and it is easy to implement; 3. destroying the system requires huge costs which ensures the security of the system. However, in POW working stream, there are multiple confirmations need to be made which take plenty of time. A certain amount of final cons-istency will be sacrificed due to computing POWER competition (because one chain might be di-vided into forks). Therefore, POW also inevitably has the following shortcomings: 1. high network-environment performance requi-rements for nodes; 2. failure to achieve ultimate consistency; 3. waste of energy.

POC is an upgraded version of POW. The algorithm of block generation is mainly determ-ined by the amount of storage capacity , which makes the whole system swifter than POW. POC only takes several minutes to generate a block while POW takes 10 minutes. POC mech-anism uses hard disk mining which costs less energy and inv-estment compared to POW. The hard disk in the partic-pa-nt's computer is enough to start POC mining. It realized Satoshi Nakamoto's vision that ever-yone is able mine. POC is likely to replace POW with its rapid development and innovation.

The World Needs An Anonymous Token

Anonymous token is a revo-lutionary concept which is never existed before. However, this concept is now gaining worl-dwide attention. They are used by thousands of people and accepted by countless compa-nies, and their market value reaches tens of billions of dollars.

High-income Group:The rich are satisfied with the emergence of anonymous tokens. For some reason, they will pay more attention to the anonymity of this kind of anonymous currency. First, they usually don't want to let others know how much money they have. What's more, hiding wealth can also help them avoid the risk of being targeted by dangers. For example, their public ID and private wallet will become the main target of hackers in an instant if they exposed.

Transactions / Payments:For businesses, after the end of a days, their transactions might take a large share. However, there is a direct trust crisis between businesses and users. For them, anonymous tokens are better than regular crypto ones. Anonymous tokens facilitates the protection of user information and the prevention of digital crimes.

Digital Management:This aspect of the value of anonymous tokens has also gained attention. People all know that anonymous tokens can ensure the anonymity of users, but its replaceability is also very significant, that is, which means it always keeps its value even without knowing its source. For instance, many places have explicitly rejected bitcoin that has been tarnished by criminals. In these cases, ensuring the privacy of transaction data helps to keep all units of crypto tokens valid and equal.

FOG: Emerge as the Times Require

Blockchain is widely regarded as the next generation of Internet as well as a tool that provides value and considered to be the recons-truction of production relations. It will bring changes to production relations and create innovations to human social systems.

But before all these come ture, people need to be able to protect their behavior on the blockchain. Especially in some specific envir-onments, like the Internet in its early years, anonymity allows peo-ple to break through the physical world and provides people with a greater freedom of speech.

If you want to map the real world to the blockchain world, there are more scenarios that need anonymity protection:

l One company wants to protect the supply chain information from knowing by its competitors;

l One does not want to be known by the public that she is paying the consultation fee to the bankruptcy lawyer or divorce lawyer;

l Rich people do not want potential criminals to know their whereabouts and try to protect their wealth;

l The buyer and the seller of different goods want to avoid the transaction being cut off by the intermediary companies between them;

l Investment banking, hedge funds and other types of trading financial entities. If other companies can find out their information(like trading intentions), the exposure of these information will put the business executives at a disadvantage and affect their profitability.

However, in the current mains-tream blockchain networks, once the digital wallet address is found been associated with the personal i n fo r m a t ion o f i t s own e r , a l l account information and transac-tion details about the wallet owner will be exposed which causes seri-ous problems. So, we believe the current mainstream networks reflects maximum transparency, not privacy.

The information exposure of these networks is mainly reflected in the following aspects:

·The Transaction Address Can Not Be Anonymous

For example, in Bitcoin network, the generation of a transaction address is anonymous, but once the address is used, all transaction history related to it sabotages its confidentiality. This is the reason why the official Bitcoin docum-entation recommends that each Bitcoin address be used only one transaction.

The Address Balance Can Not Be Anonymous

As a result, accounts with large balances have been stared tightly by the public. The problem of address balance is more prominent in Ethereum and EOS networks.

Users' transaction behaviors exposed the correlation between their personal IP and their virtual currency addresses.

Because the blockchain network is a peer-to-peer network, it is possible to keep the relay process of the transaction under surveillance and record the corresponding IP address. Therefore, strengthening the privacy of token transactions has always been one of the important research areas of the blockchain industry, and it is also considered by many as a hot spot in 2019.

2.IntroductionThe Brief

Fogchain token, which refers to FOG token, is based on Cond-itioned Proof of Capacity(CPOC) consensus mechanism. Its functi-ons of anonymous transmission, encrypted transactions, opti-mized CPOC consensus algo-rithm and ring confidential tran-saction algorithm further enhan-ced its efficiency and privacy. Through modular code design and the introduction of the Eth-ereum virtual machine to imple-ment programmable smart cont-racts, FOG provides more comp-l e t e p a y m e n t p r o c e s s a n d commercial feasibility, which bui-lds a secured and free dec-ent-ralized anonymous network.

FOG puts security, stability and scalability first in its design. By optimizing the consensus algçorithm, block capacity, group signing algorithm, etc., it can achieve ultra-high performance while reducing energy consumption. In response to various challenges of the limitations of blockchain technology and industry applications, FOG proposed CPOC's main-control contract and oracle trigger mechanism, which can realize on-chain and off-chain data Collaborate and achieve its interaction with the real world and contract execution.

Technology ArchitectureWEB3 Technology Stack

As early as 15 years ago, Sir Berners-Lee, the inventor of WEB, suggested that the limitation of the Internet is that HTML is for people to see, or for display. There has no metadata, so it can't be understood by machines.

That’s why people should give meaning to these Internet data. W i t h t h i s c o m b i n a t i o n o f metadata and internet data, it is p o s s i b l e t o d e v e l o p m o r e intelligent and automated Inter-net applications. That is what people called WEB 3.0. At that time, Sir Berners-Lee named the next generation of Internet as Semantic Web. But, about five years ago, his view on the next generat ion of Internet have changed and he launched the Int-ernet charter movement which is calling on users and pra-ctitioners to discuss the rules of the next generation of internet globally.

There are also many well-known Internet practitioners or researchers who have each proposed his design of the next-generation Internet. For example, Reed Hastings, the founder of Netflix, believes that per capita has 10MB of bandwidth and the full-image Internet is WEB 3.0.

Former Google CEO Eric Schmidt believes that WEB 3.0 is composed of a large number of fast-evolving applets. These applets are based on the basic services of WEB 2.0 and are also compiled, or called, mashups. And it can be written in a short time, is able to run on every system and highly customizable which spreads like a virus. The well-known Internet analyst, known as the Internet Queen, MaryMeeker, she proposed that WEB 3.0 is an Internet consisting of social networks, mobile devices and search in 2010.

FOG is designed around the concept of WEB 3.0 architecture for future compatibility.

The Realization of Oracle

Technology Implementation and ApplicationConditioned-Proof of Capacity(CPOC)

Based on BurstPOC2, we upgraded the consensus algorithm of FOG and calls it Conditioned-Proof of Capacity.

POC (Proof of Capacity) was first born in 2014, and its purpose is to solve resource-wasting problems in POW consensus . POC can u t i l i z e t h e i d l e b r o a d b a n d resources and the storage space in the device to store fragmented data.By doing this , it provides distributed storage capabilities. While stabilizing the public chain n e t w o r k a n d i n c r e - a s i n g transaction speed, miners can also p r o v i d e s t a b l e b r o a d - b a n d r es ou r c e s a n d s t o r a g e c a p -abilities to the project party thro-ugh mining equipment. The min-er's income structure is also more diversified and their mining inco-me is more attractive.

The POCnonce and BurstPOC1 are constructed in the same way, except that the former will slightly adjust its data at the end of the process.

Data Shuffle Process:1. Divide nonce into two halves, range 1: 0-2047, range 2: 2048-4095.

2. 0-2047 is called the Low Scoop Range(LSR), and 2048-4095 is called the High Scoop Range(HSR).

3. Take the second hash from the LSR and swap it with the second hash in the mirror scoop in the HSR.

Mirror scoop is calculated as: Mirror Scoop = 4095 – Current Scoop

Characteristics of POC

FOG uses the POC algorithm which helps it perfectly avoids the two major problems of power wasting and ASIC problem. POC redefines the consensus mech-anism from the spatial dimension. It is based on POW but better than it with inn-ovations. It reduces the cost of ent-rust (by lowering power consum-ption) and increases the expans-ibility of consensus (everyone in the world can participate and this lowers the threshold), while the strength and breadth of consensus is stronger.

POC requires a relatively small number of hash calculations and stores the calculated value of the hash function on the hard disk. The hard disk scans the data every tens of seconds in order to find the correct value. So there is no hash calculation conducted during scanning. This design avoids a lot of power waste.

Hard disk itself also has a natural anti-AICSlization characteristic. For mining under POW consensus, miners have to continuously upgrade their mining equipment to obtain greater computing POWER. Eventually they have to choose ASIC mining machine. This kind of phenomenon does not exist in POC mining. The only thing miners need to do is to continuously expand the hard disk capacity to obtain greater profits. Meanwhile, hard disks always have a high value retention rate. If one miner decided to quit mining, his hard disk can be used to store other data or resell it.

POC mining is an activity that everyone can participate in. Almost everyone around the world owns at least one hard disk. If there are such a number of miners who participate in the POC consensus system, the system will become unbreakable and firmly secured. At the same time, POC mining will become a new peak in the blockchain world!

Characteristics of POC Include:

A. Users can mine with their hard disk miners. Low cost.

B. POC algorithm scans the hard disk once every few minutes. Usually, the hard disk is in the standby state, the POWER consumption is extremely low and this method causes low noise and low heating.

C. The concept of POC makes Satoshi Nakamoto's original intention that everyone can participant in blockchain.

D. Solid-state drives are expensive, but POC has no requirements for fast data throughput. The only requirements is about the capacity. Therefore, POC eliminates the need of ASIC chips.

E. Users can purchase special multi-hard disk mining machines with writed mining data. That further reduce the cost.

The Realization of Oracle

Oracle provides a variety of data source servers, including Url acc-ess, data search engines, bloc-kchain content data, IPFS file access, etc. Among them, Url access and blockchain content data provide a trusted certificate based on TLSNotary.

Regarding the Oracle, it can be positioned from the following four angles:

Justice Division:In a smart contract, choosing an Oracle is choosing a "court", which determines how data is interpreted. Traditional contract systems cost a lot. A contract requires the court to interpret the contract and resolve disputes. The Oracle, has the potential to reduce a lot of wasteful work compare to traditional written contracts.

Decision Making Board:When a smart contract is written on the Ethereum whiteboard, it is completely visible to all participants. Then there is no ambiguity about how the contract will be executed. In a smart contract, the decision about these details is specified by the Oracle. Due to the characteristics of blockchain system, a contract must contain a clear workflow. When an event occurs, everything involved in the decision process will be written to the whiteboard by the Oracle.

The Pathway Between Digital and Real World:To get a "result", the raw data often needs to be summarized, filtered, combined, and consistent according to a model that describes the environment. The cost is too expensive to run these processes on the chain. An off-chain and secured method is a better choice.

An Institutions that Directly Take Risks:Taking the risk directly requires that the gains or losses to be taken when doing right and wrong are equal. The preparation of the Oracle usually is a combination of activities such as declaring collateral, building reputation over time, signing data etc. Just like in real life relationships, the Oracle will have different code ethics based on different scenarios. The oracle is able to bear its decisive consequences.

The Application of the Oracle

The Oracle makes smart contracts flexible, complex, and powerful. It expands the application scenarios of smart contracts, including but not limited to the following forms:

Entertainment:Gambl ing : Th is i s a common appl icat ion of the Orac le at present, and it is also one of the mature blockchain applications. Gambling here mainly refers to betting such as football lottery or other events that occur in the real world as trigger conditions. With an Oracle, other real-life gaming can be reworked with the trans-parent and decentralized block-chain technology.

Enforcing Contracts:Smart contracts can be set up without the need for an Oracle which are automatically executed through certain conditions set in advance. Combined with an Oracle machine, buyers and sellers can monitor the transactions between them; buyers of goods, property or services can put the payment into the contract account which is monitoring external service information, such as real estate transactions(When the ownership is transferred from the seller to the buyer, the contract will automatically send the payment to the seller). In addition, like some Valuation Adjustment Mechanism (VAM) agreement, the trigger conditions for execution also need to be transmitted on the chain through the Oracle system.

Financial Derivatives:Oracle can monitor different types of assets and contracts.

Debt and Equity:Payments and equity changes based on pre-established rules can also be written as smart contracts. The conditions like debt triggering, whether it is in default, the delay period, and the execution status can be uploaded through the Oracle.

Voting:In the future, smart contracts can be used in democratic, administrative and other types of institutions. Like all other kinds of applications, contracts implement pre-defined rules, even rules that change the code of the contract itself; many non-financial applications require complex infrastructure design and more mature ecosystems. It is time to changes mainstream perceptions of society.

Property Ownership Transfer:The change of ownership of digital wallets, the transfer of smart assets requires the use of a Oracle.

Implementation of a Smart Contract

The following diagram is a smart contract model: a piece of code (smart contract) is dep-loyed on a shared, replicated ledge. It can maintain itself , control its assets and receive or respond to external information. It achieves on-chain and off-chain interaction through the Oracle.

Ethereum EVM virtual machine is used to support the Ethereum smart contract. The Solidity is used for smart contract programming. Any developer with Ethereum development ability can be compatible with the development of Fogchain smart contract. The deploying process shows following:

Ring Signature Algorithm

The term Ring Signature was proposed by three cryptog-rap-hers, Rivest, Shamir, and Tauman in 2001. It is a digital signature scheme with simplified algorithm. There are only members rather than administers in a ring. And the members won't need to coo-perate with each other.

Ring Signature

Get the symmetric encryption key: First, the signer calculates the symmetric key k which is the hash of the message m: k=h(m)

(There is a much more complicated calculation k=h(m, p1, …, pr); However, the simpler calculations above are also quite safe.)

Choose a random adhesion value v: Second,the signer takes the value of v randomly and uniformly from {0,1}b.Choose a random number xi : 1≤x≤r, and r≠syi=gi(xi)

Calculate: ys Ck,v(y1, y2 ,…,yr)=v

By assuming that, given any value of other inputs, there is a unique value e that satisfies the equation and this value can be calculated efficiently.Calculate: xs=gs

-1(ys)

Calculated and get the ring signature:The ring signature of message m is a tuple of 2r + 1(P1, P2, …, Pr ; v ; x1, x2, …, xr）

Verification

First of all, to verify if i=1, 2, …, r yi=gi（xi）Get the symmetric encryption key: First, the signer calculates the symmetric key k which is the hash of the message m:k=h(m)Verify the ring signature Ck,v（y1, y2, …, yr）=v

Features of Ring Signatures:

Correctness:If the message is signed according to the correct steps and the signature has not been tampered with during the delivery, the ring signature will satisfy its verification equation

Unconditional Anonymity:Even if the attacker illegally obtains the private keys of all possible signers, the possibility that he can determine the identity of the real signer will not exceed 1 / N, where N is the number of all possible signers;

Unforgeable:Without knowing the private key of any member, even if the external attacker can obtain the signature of any message m from a random Oracle who generates a ring signature, the probability that he could successfully forge a legitimate signature is negligible.

Anonymous TransactionNovst and D2p

D2p is a routing system that allows applications to send messages to each other secretly without any external interference. Novst is a C++ implementation of D2p, and it will also be integrated into FOG. If you are using FOG, Novst will hide your network flow. By doing this, passive network monitoring will not reveal that you are using Fogchian Token at all. To this end, all your Fogchian Token related flow will be encrypted and routed through D2p nodes. Nodes are like blind gatekeepers, they will know your information passed, but they won't know where these are going and the specific content of them. D2p and FOG will coexist well because:

1.There will be an extra layer of protection for FOG

2.The number of nodes used by D2p will greatly improve the implementation of post.

FOG is currently the only crypto token that can hide the transaction initiator, receiver, transaction amount and transaction IP around the world.

In addition to its anonymity, FOG's unique CryptoDark algorithm can also help it resist ASIC and achieve a more complete decentralized ecosystem.

Address Obfuscation Calculation

The formula used for obfu-scating addresses is：P=Hs(rA)G+B

Sender calculates obfuscated address

P--The resulting obfuscated address and is saved on the blockchainHs-- HashScalarr-- Transaction private key. A random number, created by the sender and only known to the senderR--Transaction public key. Obtained from r and saved on the blockchain.A-- Receiver's public view keyB-- Recipient's public payment keyG-- A point on the curve Ed25519

The goal of conducting address obfuscation calculation is to break the association between the input and output addresses and thereby concealing the relationship between the transfers. Whenever the sender wants to initiate a transfer, the funds will not be sent directly to the recipient's address, but to a temporary address generated by the system.

When Alice transfers to Bob, the system will plus some random numbers on recipient's(Bob's) public and private keys and generate a unique, one-time address. Then the system will add FOGs to this temporary address. Observers, including Alice and Bob, all can see the temporary address but no one knows whose token it belongs. How did Bob know that someone was transferring tokens to himself, and how did he receive them? Bob's wallet will use the private key for a search function to see if the temporary address on the blockchain has his own tokens. These tokens can be used when Bob's private key (only the recipient's own private key) identifies the temporary address where he is entitled to claim.

Cross-chain ImplementationThe Goal of Implementing Cross-chain

Mutual Conversion of Assets

·Atomic swap: The process can-not be interrupted. It occurs sim-ultaneously, or is interrupted at the same time·The Oracle problem: The infor-mation inside the chain is inter-operable but it is difficult for the people inside chain to see the outside world. Ethereum can know the balance and events on its own Ethereum address but it is difficult for the outside world to know. This scenario calls for a new mechanism: let the chain know the outs ide wor ld . We developed Cross-chain Oracle: Public Chain of ID Cards. To read someone's identity, one will need cross-chain Oracle which enab-les chains and chains cooperate to read information from each other.

·Asset pledge: synergy between the two chains, for example, a real estate chain and a digital currency chain. Mortgage the real estate on the real estate chain to get a loan on the digital currency chain. This is so-called cross-chain asset pledge. Dependencies between chain events.·Smart contracts involve information from multiple chains but can be read across chains. The function that enables cross-reading and cross-verification of information or events between chains.

Hash Locking Hash Locking technology first appeared in Bitcoin's Lightning Network . Cross-chain asset exchange supports a certain amount atomic exchange bet- ween A/B chain. Hash time lock cleverly uses a hash lock and a time lock to force the receiver of the asse t to dete rmine the receipt within the deadline and generate a receipt certificate to the sender. Otherwise the asset will be returned to the sender. Then the receipt certificate can be used by the sender to obtain the equivalent amount of assets on the receiver 's blockchain and/or triggering other events.

As shown in the figure below, here is an example to illustrate how to use hash time lock for cross-chain atomic asset exchange. Assuming Alice wants to exchange 1 BTC with Bob for 20 ETH. She will need to set the hash time lock contract on both chains, and then perform the following steps:

FOG supports cross-chain through locking hash and realizes the exchange of assets or key data while protecting its anonymity during the process.

Inter Planetary File System

Inter Planetary File System(IPFS) subverts the HTTP protocol of the traditional Internet. IPFS is a global, peer-to-peer distributed file storage protocol that connects all computers with the same file system. The traditional Internet HTTP protocol is for searching domain names, but IPFS is for searching content addresses. By using IPFS, the method that subverts the HTTP protocol, can make the network faster and more secure.

FOG uses IPFS as the storage layer, which strips content storage from the block to improve logical processing capabilities. IPFS is a permanently decentralized file storage and sharing solution. It is a content-addressable and peer-to-peer hypermedia distribution protocol.

FOG uses IPFS (Interstellar File System) as the storage layer, which strips content storage from the block to improve logical business processing capabilities. IPFS is a permanently decentralized file storage and sharing solution. It is a content-addressable and point-to-point hypermedia distribution protocol.

Token Distribution

Instruction

Fogchain Token(FOG) 's total- issued amount will be 100 million in a constant amount. FOG su-pports a point-to-point tran-saction and is an uneditable digital asset. In order to increase the value of the tokens, we will repurchase and destroy them at right timing. FOG is used in all our ecology, which is the basis for the entire platform operation and the core of the entire FOG ecological circul-ation.

Fogchain Token, as a global dis-tributed digital assets ecosystem based on blockchain technology, has significant characteristics of decentralization. It is a encrypted digital assets and a product of the internat ional b lockchain co-mmunity. It can be verified, traded and exchanged at anytime, an-ywhere.

Issuance Rules

Founder Team 5%: 5 million Method: Initial mining

Genesis Miners 10%: 10 million Method: Evenly distributed to four genesis pools

Anonymous Community Incentives

35%: 35 million Method: Airdrop and used to stimulate community development

Mainchain Mining 50%: 50 Million Method: Mining

Generating Period per Block 5 Minites

Initial Block Size 60 FOD/Block, 8MB

Halving cycle 4 years,the first halving time is about 420,000 block heights

Initial TPS 70 deals/seconds

Total Supply 100 million

Attetion：One block provides 60 tokens as reward. When unmortgaged, miner gets 30% of the reward and the rest 70% belongs to the team; when mortgaged, miner gets 95% and the rest 5% belongs to the team.

For every 1% increasing of block height, the mortgage fee will decrease by 1%.

Every 5 minutes, there will be a block generated. 288 blocks are expected to be produced in a day, with 60 coins rewarded for each block. It is estimated that all mining will be completed in 27.36 years.

Value of the Token

FOG is the token for the Fog-chain ecosystem and has the following uses and values.

(1) Could be used as handling fee for the tokens;

(2) As the only token circulating in all Fogchain ecosystems incu-bated by the platform, it is used to transfer value, such as: mining, upgrading levels, normal con-sumption, etc.;

(3) Platform users can use FOG as payment method, and merch-ants can use it to pay promotion fees;

(4)Earn FOG as income by par-ticipating or completing mis-sions;

(5) Use the profits of Fogchain platform to continuously repu-rchase and destroy FOG. This will make the value of it continue to increase;

(6) More values are constantly increasing.

Token Destruction Mechanism

The design of FOG is not only about how the token is issued but also how it is destroyed. When people use constant curre-ncy to exchange FOG, new tokens will be generated; when FOG to-kens are sold and exc-hanged for constant currency assets, these FOG tokens will also be destroyed. Therefore, under the stimulation of the destruction mechanism, the total amount of FOG token that can be circulated will gradually be reduced. As the market becomes more likely to accept FOG token, it will be used more frequently. For example, with an increasing number of registered users, the number o f remi t tances w i l l increase as well . As a result , more capital and users will flow into the market. But the use of FOG token will also lead to the destruction of it while the price of FOG token will be promoted at the same time.

Ecological Application

International Trading

In the solution of FOG token, all trade contracts, business docum-ents and other documents can be stored digitally and modularly through smart contracts while the execution of transaction will be t r igger ed a u tom a t i ca l l y a nd immediately when the conditions are met. Compared to the trad-itional business model, the intern-ational trade business of FOG token can significantly reduce the cos t s o f d ocum ent i s s ua nce , transmission and storage while effectively avoiding problems such as file loss and damage.

There is no intermediaries such as the central data platform in FOG token ecosystem and any parti-cipant can directly communicate with each other and trade using the P2P network. Moreover, it is transparent. All the information is stored in the blockchain can be shared among all parties involved in the transaction, which greatly reduces all kinds of costs. There-fore, FOG token can flatten the traditional international trade process, realize the streamlining of doing business and greatly imp-rove its efficiency and can effec-tively avoid the time lag of cross-border payment and transaction risks brought by exchange rate fluctuations.

Cross-border Transaction System

FOG token can be used as a basic transaction medium to complete peer-to-peer payments in the wallet. The ecosystem will also support all kinds of digital currencies and assets that rely on the FOG ecosystem to pay and exchange. In the traditional cross-border payment model, the security of transaction information is difficult to be guaranteed but FOG token is quite specialized in the safety. All data stored on the chain is encrypted and protected. The participants of each node have all the data related to the transaction while every transaction is bound to upper-level transactions. It is impossible to hack all the nodes and upper-level transaction information.

The founders are willing to build a new cross-border transaction system around the FOG ecosystem. The distributed network will abandon traditional centralized payment institutions and organizations which helps greatly reducing costs.

At the same time, FOG token constructs more private payment channel. The system automatically hides the two parties and the amount of the transaction. Only the key holder can see the specific transaction information. This mechanism realizes the anonymous hiding of the transaction, and grant key holders absolute control over the entire transaction control.

The vision of FOG token is to realize the anonymization of all-round systems including payment, communication, transactions and assets. We have broke through various key technologies of the value transmission network and this achievement could help us build a free global value internet as well as provide a basic network for various value transmission applications. FOC ecological platform adopts POC consensus algorithm and ring signature as the core and perfectly combines the blockchain and digital currency in order to build up an unprecedented application environment in the digital world.

Data Sharing on the Chain

The founders will build a special credit service DApp in FOG ecosystem which is big a data platform for individuals and small&medium businesses around the world. There are prominent problems such as lack of data sharing mechanism, high cost of personal data acquisition and ineffective protection of personal data. Based on the characteristics of blockchain technology, FOG credit chain will support a decentralized, open and immutable credit data platform. All the data will be encrypted and stored on the FOG blockchain.

Knowledge Platform

Based on blockchain technology, our knowledge platform will ensure the authenticity and traceability for original content. These contents published by users will be permanently stored in FOG block. Film and television companies, game companies and other types of companies is able to discover high-quality original content on our platform and purchase its copyright. The decentralized knowledge platform can significantly reduce the intermediate costs and effectively avoided the monopoly of high-quality content. Our vision is to create an open and transparent knowledge environment.

Reinventing Supply Chain Finance

There is no centralized institution in a blockchain system. Because of it, all data subjects will run automatically through a preset p r o g r a m . F O G t o k e n u s e s blockchain technology to sup-port 5G development in terms of helping SMEs record credit data. Lenders can easily trace back through non-tamperable data base to review contracts, logi-stics and warehouse receipt. With this ability, they would be able to find high-quality ente-rprises that are worth investing.

In the supply chain, multi-party transaction scenarios are the most suitable for the blockchain technology. FOG token combines blockchain and 5G to ensure the reliability of business transa-ctions and saves the certificate of them in terms of reducing risks.

Mining Machine and Mining Ecosystem

Through FOG mining machine, we combined the mining pool and the entire ecology. This will lower the threshold of mining entrance and attract more users take part in FOG ecosystem.

At present, the entire digital currency market is still in a cold period. FOG token is like a strong injection of fresh blood. With the participation of new miners and the regroup of old miners to our mining pool, the holding value of FOG token is bound to rise constantly.

Development Plan

In the early stage of development, we will use Ethereum smart contract ERC20 for the early stage of community construction and marketing. At the same time, the development of various ecological applications will be carried out. After the launch of the main network, we are going to transfer all of our data to it and the entire FOG ecosystem will be able to achieve self-driven perfection.

Road Map

The Team

To ensure the openness and trans-parency of FOG token project, we are managing through the estab-lishment of the top decision-ma-king entity, the Decision Committee. The committee consists of business committee, technical committee, comprehensive affairs committee and community development com-mittee.

The committees will be composed of developers and functional off-icers. The members are elected for a term of two years. The first dec-ision-making committee are com-posed of core team members, celebrities in the industry, legal experts and early investors while some of the members of the sub-sequent decision-making comm-ittees are elected by the comm-unity.

Board of Directors

The functions of the decision-making committee include: 1. hiring and dismissing executive officers and heads of functional departments; 2. making important decisions; 3. convening emergency meetings.

Members of the decision-making committee have a term of two years. The first decision-making committee composes by talents with rich industrial experience. The positions and institutes are briefly introduced as follows:

(1) Decision Committee

After the term of the decision-making committee expires, all members of the community are able to vote. The influence of their votes is decided by the number of FOG token they hold and the age of holding the coins. There will be an election to decide no more than 9(must be an odd number) core members of the committee. The members present FOG community and are given the right to make important and urgent decisions. They are also have the obligation to accept credit investigations and make public remuneration during their tenure.

(2) Executive Director

The executive director is elected by the decision-making committee and is responsible for: 1. the daily operation and management of the FOG token community; 2. coordination of the subordinate committees; 3. chairing the meetings of the decision-making committee. The executive leader reports work progress to the decision-making committee on a regular basis.

(3) Business Committee

The business committee is responsible for the overall design and planning of the community and the introduction of relevant partners.

(4) Technical Committee

The technical committee is composed of core developers and is responsible for: 1. the underlying technology development and review; 2. product development and review. The committee regularly holds project tracking meetings to communicate requirements and project progress. Its members need to understand community activities and hotspots, communicate with business participants and FOG token holders in the community and hold technical exchange meetings from time to time.

(5) Comprehensive Aaffairs Committee

The General Affairs Committee is responsible for: 1. the use and review of funds raised by the project; 2. developer compensation management; 3. daily operating expenses and review.

(6) Community Development Committee

The goal of the community development committee is to serve the community, responsible for :1. the promotion of Assange coin products and services; 2. the promotion and publicity of open source projects. The committee is responsible for all community announcements and media cooperation.

(7) Financial Management of FOG Token

The decision-making committee is committed to using all the tokens raised for community construction and development.

(8) Audit of FOG Token

Due to the special nature of the FOG token, there is no existing companies and institutions forms are able to monitor its development. In order to ensure the governance of the FOG token platform and its openness and transparency, the decision-making committee will hire a professional auditing agency to conduct audits.

Team Member

Devoted to the development of blockchain industry when it was still in the rising-sun period. He once served as the operation director of a well-known blockchain group in the industry and the technical leader of its overseas platform. In the past ten years, he has focused on the back-end research and development of financial programs. He has extensive blockchain underlying-development experience and deep insights into the research and development user security and privacy.

Milo MassonFounder and CTO

Responsible for writing front-end, back-end services and the design of smart contracts. Has experienced large server installation experience. He participated in the mining industry in the early stage of the industry and has participated in the establishment of several large-scale mines.Paul

Blockchain Development Enginner

Peter RogersFounder and CGO

As a member of the startup team, participated in many mining projects and systematically analyzed and summarized most of blockchain projects on the market. Created an exclusive analysis model of blockchain projects. With several years of product design and brand community management experience, he has led the team and community members to achieve tens of millions of benefits.

Risk Warning

There are risks in the development, maintenance and operation of the project, many of which will exceed the control of the development team. Players should be fully aware of and agree to accept the following risks:

Risk of MarketThe price of tokens is inseparable from the overall situation of the digital currency market. For example, the overall market downturn or the influence of other uncontrollable factors may cause the token itself to remain undervalued for a long time even if it has a good prospect.

Risk of RegulatoryBecause the development of the industry is in a early stage, there are no relevant regulatory documents related to the pre-requisition, transaction requirements, information disclosure requirements, lock-up requirements, etc. in the global fundraising process. And it is unclear how the current global policy will be implemented. These factors may have an uncertain impact on the investment and liquidity of the project. Blockchain technology has become the object of supervision in various major countries in the world. If the regulatory entity intervenes or exerts influence (such as restrictions on the use of laws and regulations, the sale of digital coins may be restricted, hinder or even terminate development), FOG token may be affected.

Risk of Competition RiskAt present, there are many competitors in the industry and the competition is very fierce. There is strong project operation pressure. And with the development of information technology and mobile Internet, other application platforms are constantly emerging and expanding. FOG token will face continuous operating pressure and certain market competition risks.

Risk of Brain DrainThe project has gathered an elite group of technical teams and consultants with leading advantages and rich experience in their respective professional fields, composing many professionals who have been engaged in the blockchain industry for a long time and the core team with rich experience in Internet product development and operation. The stability of the core team and consultant resources are of great s ignif icance for FOG token to maintain its core competitiveness in the industry. In the future development, it is not excluded that the departure of core personnel that may affect the stable operation of the platform or bring uncertain effects on the future development.

Risk of Hacking or Theft Hackers or other organizations or countries have the possibility to interrupt normal functions of FOG token in any way, including but not limited to service attacks, virus attacks, guerrilla attacks, malware attacks or consistency attacks.

Risk of Uninsured LossesUnlike bank accounts or other financial institution accounts, assets stored in FOG token accounts are usually not covered by insurance. Under no circumstances will there be any open individual or organization to cover your losses.

Risks Related to the Core AgreementsAlthough the team will choose the most secure and stable blockchain as the infrastructure but any failures, unanticipated functional issues or attacks on the chain may cause it to stop working or lose functionality in unexpected ways.

Risk of Systemic IssueThere might be risks caused by neglected fatal flaws in software or large-scale failures of global network infrastructure. Although some of these risks will be substantially reduced over time, such as fixing vulnerabilities and breaking computing bottlenecks, others are still unpredictable, such as political factors or natural disasters that may cause partial or global Internet disruption.

Unforeseen other RisksIn addition to the risks mentioned in this white paper, there are risks that have not been mentioned or anticipated by the founder team. In addition, other risks may emerge suddenly, or in the form of a combination of multiple already mentioned risks.

Disclaimer This document is for informa-tional purposes only. The content of this document is for reference only and does not constitute any investment advice, investment intention or abetment. This do-cument does not constitute and is not to be construed as provi-ding any buying or selling beh-avior, nor is it any form of contr-act or promise.

Given the unpredictable circumstances, the goals outlined in this white paper may change. Although the team will do its best to achieve all the goals of this white paper, all individuals and groups purchasing tokens will do so at their own risk. The document content may be adjusted accordingly in the new version of the white paper as the project progresses. The team will publish the updated content to the public by publishing an announcement or new version of the white paper on the website.

This document is only for the purpose of conveying information to specific objects who actively request to understand the project information, and does not constitute any future investment guidance, nor is it any form of contract or commitment. FOG token team clearly states that it does not bear direct or indirect losses caused to players including:

(1) Once the player participates in the digital asset distribution plan, it means that he understands and accepts the risks of the project and is willing to personally bear all corresponding consequences for doing this. The project team made it clear that it does not promise any returns and does not bear any direct or indirect losses caused by the project.

(2) The digital asset involved in this project is a virtual digital code used in the transaction process and does not represent project equity, income rights or control rights.

(3)Due to many uncertainties in the digital currency/token itself (including but not limited to: the environment in which countries conduct digital currency/token regulation, industry competition and technical loopholes in the digital currency technology itself), we cannot guarantee that the project will be successful and the project has a certain risk of failure. There is also a risk of zeroing the digital assets of this project.

Although the team will work it's best to solve problems that may be encountered in the process of project development, there are still uncertainties in the future. Players must be rationally involved with a full understanding of the risks.