Public Blockchain

Bitcoin, with its innovative blockchain technology, has not only changed the way we store and distribute value but also has had a profound impact on the global economy. In post-war reconstruction, blockchain technology is equally crucial, providing robust support for the rebuilding of economic and financial systems.

Public blockchain technology employs the Proof of Stake (PoS) consensus mechanism, designed to address the high energy consumption associated with Proof of Work (PoW). PoS does not require extensive computational power, thereby lowering the barriers and costs of mining and allowing more participants to join the blockchain network.

By staking tokens, investors can become block validators and earn the right to record transactions. The more tokens staked and the longer the staking period, the higher the probability of gaining the right to record transactions. This mechanism is not only environmentally friendly but also enhances network security, reduces centralization risks, and improves verification efficiency.

In smart contracts, the PoS mechanism also considers CoinAge, which is the holding time and number of tokens, to randomly select the next block validator. The greater the CoinAge, the higher the probability of earning the right to record transactions, and it also determines the interest rewards that the investor can receive. The formula for calculating CoinAge is: CoinAge = Staking Days × Number of Staked Tokens. This mechanism encourages long-term holding of tokens, like earning dividends from stocks, but with a different nature.

Public Blockchain in Post-War Reconstruction

Using public blockchain technology, we can issue reconstruction bonds to attract funding from global investors, ensuring complete transparency of fund usage through smart contracts, thereby enhancing investor confidence. The application of smart contracts will simplify financial transaction processes, reduce costs, and increase efficiency. Blockchain technology can also be used for land registration, identity verification, and other purposes, providing reliable data support for post-war reconstruction.

Application of GAGA COIN

Specifically, GAGA COIN, as a digital asset representing the ideals of world peace and equitable governance, can play a role on the public chain in the following ways:

▪ Smart Contract Applications: GAGA COIN can serve as a payment and governance tool for smart contracts on public blockchains, used to execute automated contract terms and manage smart assets. Smart contracts enable automated transactions and executions without intermediaries, increasing transaction transparency and efficiency.

▪ Global Participation and Cross-Border Transactions: Public chain technology allows GAGA COIN to circulate and be traded globally, ignoring geographical and political boundaries. This borderless feature helps promote global economic integration and development, supporting the spread of cross-border trade and financial services.

▪ Transparent and Secure Data Management: The distributed ledger technology (DLT) on the public chain ensures the transparency and security of all transactions and data records. GAGA COIN can achieve transparent tracking of fund flows on the public chain, effectively preventing data tampering and fraud.

▪ Promoting Sustainable Development and Social Welfare Projects: Utilizing public chain technology, GAGA COIN can support and promote sustainable development projects and social welfare initiatives, such as environmental protection, public health, and educational support. Through smart contracts and transparent fund management, the effective use of funds and sustainable development of projects can be ensured.