1. Why Vanar Chain?
Vanar Chain is focused on PayFi (real-world finance) and asset tokenization by adding an AI component to the blockchain and storing on-chain. Traditionally, most blockchains rely on off-blockchain services such as cloud-based storage which creates several issues for scalability and security, Vanar Chain has created solutions for these issues through allowing full on-chain data storage and processing. With the ability to process on-chain data, applications can be developed that utilize the verified data on the blockchain to reduce counter-party risk and enable interactions between smart contracts or other on-chain applications through an AI agent, along with triggering payments based on compliant data being stored on the blockchain.
2. How Does it Work?
The core technology of Vanar Chain is Neutron, an AI-based compression tool used to store files on-chain by compressing files at ratios of 500:1 creating what is called “Neutron Seeds”. These seeds are then used to create compressed versions of the original files that allow for faster querying of data using the Kayon decentralized AI engine. In addition to utilizing the Neutron compression tool to store files on-chain, Vanar Chain utilizes a fixed transaction fee model (approximately $0.0005 per transaction), and is developing and implementing quantum resistant cryptography methods to ensure future-proofing against potential future attacks from quantum computers.
3. Utility Token Economics
As the utility token for VANRY, it is utilized in the following ways:
- Transaction Fees: The VANRY token pays for the gas required for each transaction that takes place on the Vanar Chain blockchain.
- Storage Fees: The VANRY token also pays for the storage space required for each file that is stored in the Vanar Chain blockchain using the Neutron compression tool.
- Staking Rewards: Users who stake their VANRY tokens generate rewards to secure the network.
- Burning Tokens: A portion of all transaction and storage fees paid in the VANRY token are automatically burned from circulation, thus decreasing the overall amount of tokens in circulation over time.
Vanar Chain is currently moving towards a governance structure that includes community driven proposals, including utilizing partnerships such as GraphAI to enable users to query the blockchain using natural language.
=> Conclusion
Vanar Chain is changing the way developers think about how to build blockchain networks by providing the ability to have intelligent infrastructure layers where both data storage, AI processing and financial logic exist together on-chain. What implications will the semantic data capabilities of Vanar Chain have on building trusted decentralized applications?
