Blockchain infrastructure guarantees transparent value exchange between platform users and businesses, issues token used in the process of contents/product transaction and distribution, and evaluation reward, and provides bases for exchanging between Korean and international exchanges
Lolli-Pop platform can record the activities of service users (general users, aspiring stars, online shopping mall advertisers, Hanryu contents creators, etc.) through the blockchain infrastructure, and calculate the reward details accordingly. Further, through the combination of blockchain technology with its own token, the platform serves as a base infrastructure for future Hanryu contents, product distribution, and transaction contracts. As a result, it does not pose any problem with payment and transaction even when Lolli-Pop enters the global environment.
Lolli-Pop blockchain architecture uses distributed ledger management technologies such as digital asset management, digital ID and smart contract, etc. based on Ethereum platform.
■ Digital Asset
Digital asset refers to contents and more exist in electronic data format. Through the blockchain technology, digital asset management can be decentralized, free from intermediary, unreliability and traces by any 3rd party, and secure higher level of transparency. Lolli-Pop supports multiple formats of digital assets, and users can resolve the connection with physical asset by registering, transacting, distributing asset within Lolli-Pop ecosystem as digital identity. Digital asset registered as user’s prescription can be protected under the law.
Assets are classified into two types, overall asset and contract asset. Overall asset is recorded in system space and entire smart contracts and clients can distinguish them. Contract asset is recorded in a private space per smart contract, and it can only be distinguished by clients sharing the specific smart contract. The contract asset can be shared with multiple clients as per special agreement.
■ Digital Identification
Lolli-Pop users are granted with digital identification. Such digital identification is encrypted, managed in blockchain, and its identity is guaranteed. By using the digital identification system, Lolli-Pop users can login and use entire services. In addition, contents creation, consumption, payment or transaction by each user to receive rewards for service activation is recorded in blockchain for management.
Moreover, even in using blockchain template and P2P over-the-counter exchange, users can use the digital identification system and gain access.
■ Smart contract
Lolli-Pop ecosystem writes and uses Ethereum-based smart contract in EVM (Ethereum Virtual machine) codes, and operates in highly reliable system which is decentralized and impossible to be tampered with. The smart contract supports smart contract between producers and users (payment for subscription, etc.) as in the use of services and contents within the ecosystem.
In addition, to realize the portability of application programs between different types of computers, the smart contract utilizes Contract ABI (Application Binary Interface), an interface protocol guaranteeing the binary compatibility (a program written in machine language which works on other devices).
■ Application
Lolli-Pop ecosystem develops various application based on Ethereum technology. Through the status analysis prior to run smart contract, it creates smart contract call tree. Nodes, through the call tree, processes classification of smart contract status which allows limitless expansion. This can overcome Jamming effect caused by status classification, a problem of other blockchain systems.
■ Agreement Algorithm
Lolli-Pop ecosystem saves all activities of the users, and builds evaluation system based on them. To enable such evaluation ratings or scores to be understood and trusted by anyone, it creates Ethereum-based agreement algorithm, in other words, it utilizes PoW (Proof of Work) method of which many approved parties can create blocks and receive rewards with priority.
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