How it works
Last updated
Was this helpful?
Last updated
Was this helpful?
CryptoArena introduces new terminology and innovative concepts, trying to push the envelope of the currently (more or less) established standards, in what is already a groundbreaking industry.
This plain language section is meant to help further explain, step by step, all the pieces that compose the core mechanism enabling our unique proposition: the “Self-Decentralization Process”, and most importantly, what it all means for you.
Check if that's what you're looking for.
Self-Decentralization is the process by which CryptoArena increasingly becomes a 100% non-profit over time, and consequently, distributes incrementally larger shares of platform generated revenue to its users.
Our Mission, and the processes designed to deliver it, are permanent, immutable & secured through extensive use of .
Meaning it features a “start state”, an “end state”, and a pre-set framework of rules and activities determining “change”, to go from former to latter.
Means progressing until reaching what we refer to the “end state”, achieved through the completion of the “process” defined above.
A Sidechain is a blockchain built as an added layer of another blockchain, featuring own rules and assets, while benefitting from the mainchain’s features and selling points too.
CryptoArena uses an advanced kind of sidechain, specialized for the Polkadot ecosystem, known as a Parachain ("Parallel Blockchain").
Is an application-specific data structure that is globally coherent and validatable by the validators of the Polkadot Relay Chain.
Is a competitive, game-like, points scoring system that regulates secondary distributions (of revenue). Bigger score -> bigger share. All Users automatically earn points through all fee-bearing activity on CryptoArena’s platform, and thus benefit from distributions. No opt-in is required.
In practical terms, completing “self-decentralization” means allocating all outstanding shares, sold previously to raise funds for development & operations, to public revenue distributions.
Is the of the holding entity of the company operating the network, business & platform, and therefore, claims on its assets, profits, and so on. Founders & investors too. No exceptions. Hence “self”.
As suggested by the name, they are able to parallelize transaction processing, rather than operating them sequentially, thus achieving the greater scalability of the Polkadot system. They of the entire Polkadot network and can communicate with other parachains through .
Learn more about parachains . The Relay Chain is the backbone of the Polkadot network, more .
Our custom used for three purposes, among which, most importantly, acting as “beacon” to our systems, for primary distributions (of revenue).
Learn more about ARENA Tokens
Is an extra revenue stream provided as compensation to Shareholders for the value of their pre-emptive consensus to the self-decentralization process. . Only ARENA Security Token Holders have claims on funds. Consensus is a hard requirement to access our tokens for everyone, including investors, founders & staff.
is a custom flavor featuring a similar, but fundamentally different, mechanism to a , because tokens are not destroyed or locked & forgotten. The is a repurchase of shares (at a premium) by the operating non-profit, and the shares are automatically and immediately allocated to general revenue distributions as a consequence of this transaction.
Are utilized to automate and enforce terms, payment procedures, inner processes, governance and also interactions between Users in our solution.
