Vena
Network is a decentralized protocol with a highly generic architecture
designed to help users create contract terms that will oversee financial
services like lending, asset issuance, trading etc.
With users given the ability to retain their copyrights,
there will be a growth surge for smart contract templates in the trading
market of Vena Network.
Vena Network assures users of an interface that will
provide a library of smart contracts of different kinds and they include
transaction contracts, debt contracts ( credit, debt financing,
collateral loan) which will help in the creation of interactive
financial decentralized apps more conveniently and faster.
THE VENA NETWORK CHARACTERISTICS
Vena Network will use a tokenized economy to design a decentralized commercial community.
Users will be able to perform transactions using fiat and digital assets.
The protocol design will be well detailed so that a
secondary development can be possible from the basic protocol. This will
give rise to innovations that will result to a better platform that
will handle asset financing more conveniently.
The third party in control of template contract library
implementation will keep the copyright and this will establish a service
market and template contract transaction which can be used to earn
income through service fees that will be paid by the user.
The various roles that exist in the Vena protocol will get
compensation, for instance, appraiser can gain profit by providing
users with top-notch credit evaluation through its data model.
THE VENA STRATEGIES
LOAN: When it comes to obtaining loan, the
traditional institutions require collateral to proceed but this process
is usually very cumbersome and expensive.
In addition, the loan process is filled with many
ambiguous and unfair terms which makes it more difficult for people to
secure loans from traditional banks. With Vena, digital asset owners
will be able to obtain loans from any location in the world without
relying on traditional financial institutions for it anymore.
TIME EXPIRATION: This feature helps users to set
expiration time to any order which makes the order authentic. This time
is usually set by the producer and it cannot be altered once it has been
signed.
ORDER CANCELATION: This feature allows the order
producer to cancel an order through the Relayer. This occurs at the
request of the order producer when they find an unfilled part of the
order which prompts them to cancel the order through the Vena kernel
contract. This order cancellation usually attracts additional cost and
that is why it is not used often.
MY VERDICT – PERSONAL OPINION ON THE VENA PROJECT
The Vena Network platform is a decentralized ecosystem
that champions transparency in the use of cryptocurrency. All
transactions involving fiat and cryptocurrency will be conducted with
the use of smart contracts and both parties will have to sign an
agreement to avoid future dispute.
Vena makes sure that users of their platform receive only
the best and secure financial service and therefore I encourage everyone
to consider Vena Network.
The project is spear headed by a team of experts who have amassed
relevant experience, and are completely dedicated towards achieving the
global revolution which is needed for a more efficient industry.
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