Despite the fact that many cryptocurrencies and several blockchain networks are being born, still no single cryptocurrency has found its way into everyday life to be commonly used in daily activities. In fact ,in the current position, cryptocurrencies are simply an investment tool used to achieve periodic profits.
Isolated Networks
The current blockchain ecosystem is made up of some isolated blockchains, all operating by themselves with no connection to each other. This results in a cold ecosystem and lots of problems involved with third parties making this connection possible.
Mortal Blockchains
Most of the current blockchains are completely depended on their native gas, meaning on market drops mining may not be efficient and the network might get smaller and more vulnerable.
Weak Profiling
One of the reasons that blockchain became so popular in the first place was the untracable nature of this technology; But that has made it easy to use for terrorist groups, money laundering, fraud crowdsales and etc.
Unfinanced Tokenization
Right now anyone can generate a token on diffrenet platforms with almost no cost. As much as this looks good, but it means there is no guarantee for poeple’s money which results in an increasing number of fraud ICOs and even if crowdsale went good you will lose all your money in case of project failure.
Neel Solutions
There are different approaches to the mentioned problems in cryptocurrencies and blockchain platforms; but the best approach is to mix them all. Offering services that each need their own specific cryptocurrency limits the benefits of owning the cryptocurrency and we [will] witness many cryptocurrencies each designed for an specific service (Imagine a world where to buy a product you have to use its specified currency!). For this peculiar reason we are facing countless tokens constricted to limited functions. We do not find this model appropriate and suggest a new system called Neel.
IoB
As mentioned before, today one of the main problems of blockchain ecosystem is connection between different blockchains, which currently takes place by third party applications. Neel however, plans to solve this issue using a new method called IoB or Internet of Blockchains.
Neel will make it possible for every blockchain to stay connected with neel and all other blockchains connected to IoB network, solving scalability issues in bitcoin and ethereum through self-tokenizing them; and bridge transactions between two or more blockchains.
Immortal Blockchain
Dependence of blockchains on their native gas was another issue mentioned in problem statement.
To solve this issue neel makes a simple change in transaction fees, advantaging IoB, if there was any market drop on “NEEL” it will not effect the whole network. In such case miners will be rewarded by bitcoin or anyother coin or token connected to IoB network.
Neel ID
On this platform Neel ID will be the identity of users, stored in blockchain system. It will be utilized to synchronize accounts in all services provided by this ecosystem, which allows users to switch between services supported by Neel and use them without signing up each time. This service also does not require users to use public keys and only knowing the Neel ID is enough to perform the transaction.
One of the main reasons that governments Don’t like cryptocurrencies and blockchain is the untracable nature of these technologies which can be used by terrorist groups, money laundering and etc. Also it’s a bit hard and risky to use public/private keys for sending money in blockchain. Using the NEEL ID each person will have his/her own virtual identity in the network. You can upload any information about yourself in ID system or you can upload nothing but the more transparent your ID becomes the more credit it will Gain and others will trust you in the network much easier. If someone tries to use crypto for evil community will mark that ID with a negetive sign so others notice that while making trades with that ID.
Financed Tokenization
Financing tokenization makes tokens more trustable, less fraud crowdsales and a huge step in decreasing crypto investment risks to attract normal people and traditional investors into crypto world. It can be used to tokenize more physical assets like cars, real estate, precious metals and etc, to trustlessly trade assets of any kind.
Neel Coin
NeelCoin is the Next Generation of CryptoCurrencies, which will be mentioned as “NEEL” in short. It will serve as a worldwide tool for the usage of this ecosystem’s services. “NEEL” is the share of millions of tokens Generated in Headvest, in other words you will be a share holder in all ITOs taken place in headvest.
Neel will serve as the share of Neel decorp and anyone with some Neels will benefit the revenue of this decentralized corporation. All fundings raised from Neel ITO will be saved in an smart contract to be invested in projects registered in headvest based on shareholder’s vote.