What is a meta-currency?
Over the past 10 years, we have seen an explosion in the number of digital currencies and financial systems. Each one that has been created has evolved in its own direction, but there is one basic design pattern that they all follow. Each one of them was designed to be completely self-sustained.
A meta-currency is based on a design pattern that is completely the opposite of what we have seen in financial systems until now.
One of the first striking differences between a meta-currency and traditional digital currencies and that it has no infrastructure of its own. It exists “between” other financial systems.
Every financial system must perform certain functions, otherwise, it is not a financial system.
So how are these financial functions performed for a meta-currency if it has no infrastructure to perform them?
The answer is simple.
The financial functions of a meta-currency are performed on an infrastructure of existing traditional digital currencies.
What are Spheres of Functionality?
When a financial system has no infrastructure, such as a meta-currency, it needs to "out-source" certain tasks to other financial systems that do posses infrastructure.
If a financial system is going to perform one task for the meta-currency, then the most efficient thing to do is to have it also perform the other similar tasks that the meta-currency needs to have performed.
All of the tasks in this group provide a similar type of functionality to the meta-currency.
Together these tasks make up a sphere of functionality (SoF).
This sphere of functionality is provided to the meta-currency by the infrastructure-based financial system.
The meta-currency relies on the infrastructure-based financial system to provide this sphere of functionality.
What is SystemD?
The first stage in the evolution of The State is called FirstColony (FC).
FirstColony encompasses three Spheres of Functionality (SoF).
The first SoF is provided by SystemD (SyD).
SystemD is a hard fork of the main Ripple Ledger maintained by Ripple Labs, Inc.
We salute the Ripple Labs team for all of the cutting edge financial technology that they have spearheaded over the past 5 years.
One of the most advanced features of rippled based networks is the speed at which they can clear transactions.
The main Ripple Network holds the real life record of 1,500 per second.
That’s the kind of transaction processing that we want for the FirstColony, so SystemD is providing us with that sphere of functionality.
If it is a hard fork, how will SystemD be different?
There are several very significant changes that we will be making after forking the main Ripple ledger. Here are a few:
Become a node on SystemD?
There is no special hardware that you need to become a node on the SystemD Network. Any device that has a web browser can become a node on the SystemD Network.
One of our goals is to preempt the need for specialized hardware. This gives everyone the chance to participate in the Network.
Currently, we provide two different ways for you to become a
node on the Network: Docker image and source code.
Our Web based client will be coming soon.
Vokez is a multinational group of developers and other talented people who have decided to create the security token platform called The State
We have been working on the idea and developing prototypes to test our design theories for over a year now.
We so strongly believe in the potential of security tokens, that we decided that we would use the The State as a tool for the organization, incorporation, and direction of Vokez the Company.