The architecture of the Project and the role of the Token
basic functions and tasks of the NIFTSY token
So, the Project’s architecture looks like this.
It is important to note the following principles of model formation. They are listed below.
- 1.The links between “Protocol - Oracle – Index” are formed initially from the bottom up, but after that the Project works from all three elements.
- 2.Oracle and Index can be created outside the Project, but Protocol cannot.
- 3.All three entities are based on primitive transactional reputation models, that means, they consider a) quantitative; b) temporal; c) subjective criteria.
- 4.All elements operate on the basis of openness, decentralization, and consider all entities (scripts, AIs, users, etc.) as possible actors in the Project.
- 5.All three entities interact with each other through the Token functionality which is a necessary element of the Project ecosystem.
The features of the Token are discussed in more detail below.