NOWchain is a blockchain framework founded by Tony Le in November 2018. It was designed to address modern challenges in decentralization and security by incorporating mobile devices into its network infrastructure. It utilizes a unique consensus mechanism called Proof of Mobile (PoM), which relies on the computational capabilities and widespread presence of mobile devices. This approach seeks to promote enhanced security and a more decentralized network architecture. ^{[1] [9]}

Overview

Nowchain's blockchain operates by recording transactions in blocks that are cryptographically linked, forming a continuous chain. This system relies on a network of nodes, which ensure consensus and maintain a consistent version of the data across all participants. It introduces an innovative approach by integrating mobile devices into its infrastructure, utilizing their inherent security features to enhance trust and resilience. Through its unique consensus mechanism, Proof of Mobile (PoM), Nowchain aims to create a secure ecosystem where users can transact confidently while benefiting from decentralized technology. ^[2]

Ecosystem

Nowchain's ecosystem spans a diverse range of applications, bridging digital innovation with real-world use cases. Its infrastructure supports various sectors, providing decentralized, secure, and transparent solutions for modern challenges. ^[5]

• [object Object] [object Object]: Nowchain enables decentralized financial tools and services designed to give users greater control over their transactions. These tools focus on transparency, flexibility, and security, reshaping traditional financial systems and empowering users with accessible financial solutions.
• [object Object]: Nowchain supports tamper-proof, automated agreements coded directly onto the blockchain. These contracts ensure secure and transparent transactions, streamlining processes while enhancing trust and reliability.
• Bridge Assets: Nowchain facilitates seamless asset transfers between blockchains, offering users an efficient and secure mechanism for managing and synchronizing digital assets across different platforms.
• NFT Marketplace: The ecosystem includes an NFT platform for minting, trading, and showcasing digital assets. Leveraging blockchain’s immutability, the marketplace provides a secure environment for creators and collectors to engage with unique digital works.
• [object Object]: Nowchain powers a virtual space for collaboration, creation, and exploration. It enables users to interact in real-time, attend virtual events, and showcase work in 3D environments, offering innovative ways to connect and collaborate.

Elliptic Curve Cryptography (ECC)

Elliptic Curve Cryptography (ECC) is a core element of Nowchain's security framework, offering mechanisms for confidentiality, integrity, and authenticity in its decentralized network. ECC is particularly suited for blockchain environments due to its efficiency in key generation and management, which is crucial for resource-constrained systems.

Key roles of ECC in Nowchain include:

1. Transaction Security: ECC is used to generate and verify digital signatures, ensuring transactions are authentic and protected against tampering.2. Key Exchange: ECC facilitates secure key generation and exchange, enabling encrypted communication between network participants.3. Identity Management: The system assigns each user a unique ECC-based public-private key pair for secure authentication and access control.4. Consensus Security: ECC reinforces the integrity of Nowchain’s consensus protocol, safeguarding the blockchain against unauthorized alterations to transaction records. ^[3]

EVM in Nowchain

Nowchain incorporates the Ethereum Virtual Machine (EVM) to enable the execution of smart contracts and decentralized applications (dApps). This integration enhances compatibility with the Ethereum ecosystem, allowing Nowchain to support a wide range of existing Ethereum-based contracts and dApps.

The adoption of the EVM underscores Nowchain's focus on interoperability, enabling smooth asset transfers and data exchanges with other EVM-compatible blockchains. By leveraging the EVM, Nowchain aims to provide developers with a familiar framework, fostering innovation and expanding its role within the broader blockchain ecosystem. ^[4]

Tokenomics

NOWchain Token ($NOW)

The NOW Coin is the primary currency within the Nowchain ecosystem, facilitating transactions and interactions across its platforms and affiliates. It adheres to the NRC-20 standard on Nowchain, enabling compatibility with NOW wallets and smart contracts. It functions as a medium of exchange within the ecosystem and can represent assets or other values tied to the network, enhancing its utility for various applications.It is used for payments, rewards, governance, and supporting decentralized applications, underpinning the network's decentralized operations and promoting secure and transparent transactions. ^{[6] [7]}

Allocation

• Investors: 28%
• Early Contributors: 2%
• Team: 15%
• Advisors: 5%
• Ecosystem: 40%
• [object Object]: 10% ^[8]

Token Utility

The NOW native token on Nowchain serves as a versatile asset, offering several advantages within the ecosystem: ^[10]

• Improved Scalability: The dedicated blockchain infrastructure enables higher transaction throughput compared to congested networks.
• Lower Transaction Fees: Transactions incur reduced fees by avoiding competition for block space on external chains.
• [object Object]: Token holders can participate in ecosystem-specific decision-making through integrated governance mechanisms.
• Enhanced Security: Custom security measures tailored to the proprietary blockchain increase network resilience.
• Advanced Features: The token supports built-in utilities and functionalities beyond standard NRC-20 tokens.
• Interoperability: Seamless interaction with other blockchains expands the token’s utility.
• Energy Efficiency: The network’s consensus mechanism is designed to be environmentally friendly.