About Vitruveo Blockchain
Vitruveo Ecosystem:
Vitruveo is an EVM compatible, L1 blockchain designed specifically for creators. We have a focus on building a decentralized ecosystem that provides sustainable income for all types of creators. The platform emphasizes trust, technology, and community as its foundational pillars. Vitruveo's initial focus is on creators in the visual art domain, with plans to expand to music, gaming, film, and other domains.
Vitruveo's approach is to create a Vertically Integrated Ecosystem within its general purpose blockchain. This ecosystem spans from the underlying blockchain technology up through smart contracts, dApps, marketplace tools, resources, workshops, community engagement, and marketing. This comprehensive stack is designed to address the various needs of creators in the digital space. Although this is comprehensive, external development is also allowed and encouraged.
Our ecosystem of tools is known as VTRU Suite (more information here VTRU Suite).
Technology and Innovation:
Vitruveo is an L1 blockchain that is fully compatible with the Ethereum Virtual Machine (EVM). It uses a Proof of Authority consensus mechanism supported by a 500 Validator network. The platform uses GoEthereum, a fork of Ethereum, but with unique modifications to cater to its specific needs.
Technical Pillars of Vitruveo
1. Creator Pillar: Vitruveo adopts a zero-knowledge KYC, allowing artists to be identified without exposing their private details.
2. Rewards Pillar: Incorporates performance-based coin compound interest, letting everyone’s wallet grow organically.
3. Asset Registry: Ensures industry-conforming metadata, uses Creative Commons for licensing, and employs the C2PA standard for signing.
Rebasing in Vitruveo
Vitruveo stands out as the world's only blockchain to integrate rebasing directly into its core, unlike other protocols that rely on Smart Contracts for this functionality. At its essence, rebasing in Vitruveo can be likened to compound interest, but with a unique twist to avoid the pitfalls of inflation.
How Rebasing Works in Vitruveo
Built-In Rebasing Mechanism: Unlike traditional methods where rebasing is implemented through Smart Contracts, Vitruveo incorporates it as a fundamental part of the protocol, enhancing performance and integration.
Epoch-Based Adjustment: Vitruveo operates on a 5-second block time, with each epoch spanning 17,280 blocks or 24 hours. The system sets an initial transaction goal for each epoch (starting at 10,000 transactions) and adjusts the rebase based on this goal, with a flexibility of +/- 25%.
Rebase Calculation: If the transaction volume meets the epoch's goal within the defined variability range, the value of $VTRU (Vitruveo's native coin) adjusts by a factor of 1.00087671 (also subject to a +/- 25% variability). This adjustment impacts all $VTRU, whether stored in Smart Contracts or Externally Owned Accounts.
Progressive Challenge: To maintain ecosystem vitality, the transaction goal for each epoch incrementally increases by 500, encouraging sustained performance and growth.
Cap and Duration of Rebasing: This rebasing feature is designed to halt once the circulating supply of $VTRU hits 250 million. Additionally, it's expected to be operational for the initial 5-7 years of the protocol, conceptualized as "Early Adopter Rewards." This system offers a form of passive income to all $VTRU holders during this phase.
Creator Base
Vitruveo incorporates TruID at the protocol level, a system designed to authenticate the identities of Creators. This system aligns with W3C's Verifiable Credentials standards. TruID utilizes a "Zero Knowledge Know Your Creator" approach, where third-party entities conduct Know Your Customer (KYC) procedures and confirm a creator's KYC level without compromising their privacy.
The cost of TruID verification is covered by Vitruveo and is tiered across multiple levels. The first level, L1, is mandatory, while higher levels are optional but offer additional benefits:
| Level | Information Needed | Creator Credits | Requirement |
|---|---|---|---|
L1 | 1 | Mandatory | |
L2 | Phone | 2 | Optional |
L3 | Proof of Address | 3 | Optional |
L4 | Liveness | 4 | Optional |
L5 | ID Document | 5 | Optional |
The level of TruID a creator possesses directly influences their access to features on Vitruveo and third-party applications. Higher TruID levels not only grant more privileges but also accrue more "Creator Credits." These credits are essential for registering assets in AssetBase, Vitruveo's asset registration platform
Asset Base in Vitruveo
Vitruveo's Asset Base feature offers a streamlined approach for creators to consign their digital assets. By integrating this function at the protocol level, Vitruveo ensures that once an asset is consigned, it becomes instantly accessible on all decentralized applications (dapps) within the platform. This eliminates the need for creators to individually upload their work to multiple dapps or marketplaces, simplifying the distribution process.
Key Standards of Asset Base
MetaData Standard Compliance:
Vitruveo mandates that all assets comply with established traditional metadata standards.
For visual art, the LinkedArt standard is used, which is the choice of leading museums worldwide.
For music, the standard is Media Enrichment and Description (MEAD), catering to audio assets.
Flexible Licensing under Creative Commons:
Vitruveo employs tokenization for licenses, adhering to the Creative Commons standard.
This approach is akin to practices of major platforms like YouTube.
Various license types are available (e.g., NFT, Streaming, Print on Demand), allowing creators to choose the most suitable licensing method for their work.
Digital Signing with C2PA Standard:
All artworks need to be digitally signed by creators using the Coalition for Content Provenance and Authenticity (C2PA) standard.
This requirement not only deters plagiarism but also provides a verifiable method for creators to establish the authenticity of their work.
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