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EVM support (Ethereum Virtual Machine)
Fincor includes EVM (Ethereum Virtual Machine) support which enables users to interact with Ethereum (ERC-20, ERC-721, ERC-864, ERC-981, ERC-1155 and many more) standards. This support includes a Layer-1 compatibility and allows users to write/interact with Ethereum standardized contracts using the Fincor network on PoU protocol. The support also includes the Ethereum one-way HEX address generation, as well as Web3 standards.
EVM support enables the Fincor chain to conduct Ethereum standard transactions. Users can write and execute Ethereum standard smart contracts directly on the PoU protocol using the Fincor chain. Ethereum support also allows compatibility with EVM libraries and nodes such as GETH and Web3.js. The address mechanism of EVM is one-way HEX key encryption for address generation.
Making transactions from one blockchain to another is a huge milestone to achieve. However, right now blockchains face a problem that doesn’t allow them to communicate with other blockchains in a decentralized manner without off-chain implementations. Interoperability is the answer to this problem, but current interoperability solutions are unreliable because of their use of atomic swaps, offline signatures and central authoritative control.
Fincor with its EVM support also enables the blockchain developers to utilize the Web3.js in their development. It also enables the developers to use JSON-RPC methods of GETH using Web3 and even add support for other operations as well.
Compatibility with other blockchains
Whenever any transaction is performed on a non-PoU blockchain, the Fincor blockchain collects the user's transaction and then transmits it to the relay. The relay restructures the transaction according to the needs of the blockchain and translates it into a PoU-compatible blockchain using Decision Agent Module (DAM).
It then passes the restructured transaction to the PoU protocol where the nodes in the power pool validate the transaction and transmit it to the relay modules. They will also send the transaction to the appropriate blockchain and wait for the transaction to be accepted and mined.
Once the transaction is on the blockchain, the relay will transfer the details of the network to the Fincor pool where the nodes will include this verifiable non-PoU transaction into Fincor's main chain. This makes the Fincor blockchain completely transparent and does not allow malfunctions.
Interacting with Fincor
Fincor doesn’t use any centralized services or offline mechanisms, every transaction and state interaction is done on-chain, i.e., at Layer-1. The data is transferred directly to the appropriate chain without a stand-alone medium.
The complete process includes data recording to both chains, to Fincor and the corresponding chains.
Identity management, decentralized blogging and social media, NFTs, crowdfunding and many more. All decentralized applications (dApps) built on Fincor blockchain are available in one place – through the Fincor desktop software.
Forkless and future-proof
Fincor’s autonomous mechanism allows conducting forkless upgrades during which the upgrades are tested in a separate environment where all (if any) issues that are reported by present peers are addressed by the developers. Only then the upgrades are introduced into the main network.
Built for a Clean Future
Fincor is environmentally friendly thanks to our PoU algorithm which allows each commercial system to be utilized for running the blockchain. Fincor does not have a restriction that in order to run the node, a high specification system will need to be configured which often leads to massive carbon emissions and electricity usage, e.g., Ethereum, Bitcoin, Polkadot and others.
However, for Fincor this is not the case – any home system can be utilized to contribute to running the blockchain.
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