The traditional Internet lending platform has entered a period of decline and transformation, and the blockchain bitcoin and other digital assets combined with the mortgage lending p2p model was born in 2018, which not only solves the needs of various groups of people in the current blockchain industry, but also It subverts the opacity of p2p online loan information, and there are risk control problems such as fraud. Blockchain technology not only makes openness and transparency, but more importantly, it can generate trust between the two parties. At the same time, the intervention of blockchain technology saves time and more costs for mortgage lending.

The emergence of ORCHID has undoubtedly contributed to P2P pledged lending.

Introduction to ORCHID

The main body of ORCHID, the ORCHID team, is a decentralized non-profit distributed autonomous organization. ORCHID is committed to exploring the combination of the blockchain world and the physical society, and provides a blockchain world builders and value concept identifiers. A neutral, non-interest-biased, open and trustworthy P2P pledged lending aggregation platform.

ORCHID was jointly initiated by Flying pigeon in Singapore and Macquarie Group in Australia ("Macquarie" for short). The ORCHID team has been committed to diversifying finance in the blockchain field and reforming traditional financial payment methods, providing investors with professional expertise on a global scale. Informatization services, to develop the practical application of blockchain technology, ORCHID team is jointly built by elites of financial payment industry investment banks, pioneer team of blockchain technology and celebrities in the fields of finance and technology. The founding team of ORCHID has a significant international background, and the blockchain R&D team is distributed in many places around the world, including Singapore, India, Silicon Valley, etc. The team size is nearly 100 people, and the main members are co-developers of early blockchain technology. After years of blockchain theoretical research and application practice. With the continuous progress of blockchain technology, it has covered application fields such as the Internet of Things, decentralized exchanges, cloud computing, financial payment, entertainment industry, encrypted games, and NFT.

Platform Mission

ORCHID is a decentralized blockchain network. In the future, ORCHID will build a public chain dedicated to the ORCHID community, which includes smart contracts and implements a set of authentication systems that can identify all meaningful and independent objects. Some basic protocols of Professional Governance (authentication protocol, user authorization protocol, data exchange protocol, transaction protocol, upgrade protocol, etc.). Based on these, developers can develop and implement various contracts, contract applications, DAPPs, etc. on the ORCHID trust community in the future. It can be said that the ORCHID trust network can realize applications in unlimited scenarios.

Technical team

The ORCHID team has a professional technical open source team and is also one of the important strong nodes of ORCHID. The team system should be combined with the incubation process mechanism of internal projects. The early technical team adopted the community management method to develop community projects through Internet collaboration tools. With the development of the community and the maturity of the project, the community will plan to adopt a corporate model to manage the team. The necessity and benefits of doing so are:

(1) The team needs to settle, avoid excessive pressure interference and the temptation of impetuous society, and requires reasonable planning.

(2) The development of the ORCHID community is inseparable from all aspects of development support.

(3) With the support of a mature team, the community can make greater efforts for community members and the development of the blockchain industry.

Technical advantages

DAPP technical architecture

ORCHID's DAPP is completely developed based on the nodejis platform. The backend uses the Express.js framework, the front end uses the Angular.js framework, the client uses the Electron framework, the database uses sqlite, the front and back end use the DAPP technology architecture Javascript scripting language, and the interface uses HTML5 and CSS3. Nodeis, with its inherent asynchronous processing mechanism and strong network development capabilities, is very suitable for time-based real-time interactive encrypted currency applications, providing a solid technical guarantee for ORCHID's high-performance instant messaging.

ORCHID side chain mechanism

The sidechain mechanism achieves scalability through another dimension. Each sidechain runs in a different distributed node network and has independent audiences, investors and development teams. This natural sharding solution not only solves the expansion problem of the blockchain, but also each application has a set of personalized ledgers, and its consensus mechanism, block parameters, and transaction types can be customized, so We believe that sidechains are a lower cost, more flexible, and easier-to-use solution for the ORCHID sidechain mechanism than complete transaction scripts. Developers can also deeply customize their own decentralized application DAPP through ORCHID's side chain. Sidechains can be hosted in independent client node clusters, which naturally forms a sharding mechanism that delays the expansion of the main blockchain. Each DAPP corresponds to a side chain. The core logic of the side chain is developed using nodejs, and the front-end and back-end generally communicate through the jsonrpc protocol.

future plan

ORCHID’s integrated lending service can be used for the underlying assets of lending and insurance. ORCHID aggregates the mainstream and the most popular DeFi lending platform MakerDao, and reduces users’ borrowing costs by adjusting currency weights and the selection of the lowest interest rate in real time. . The NFT platform (ONFT) that builds ORCHID brings together thousands of artists and hundreds of thousands of works around the world, setting a set of project design and distribution standards for NFT encrypted art projects.

While creating a new blockchain game, ORCHID is expected to release a new NFT encrypted game ORCHID Game. ORCHID Game is a group of endearing digital birds, each bird has a unique genome, which determines its appearance and feature. Players can collect and breed them, create new bird stars and unlock rare attributes, each bird has a unique value in the ORCHID system.

The DAO community encourages more users to join the Consensus Alliance to jointly create and collaboratively incubate projects, and at the same time efficiently and objectively disseminate blockchain knowledge and technology. In the process of combining the physical community and the blockchain world, help people to correctly understand and use blockchain technology, explore blockchain solutions for society, economy, politics and other aspects, so that people can adapt to life in the digital age smoothly and new changes brought about by collaborative methods, as well as maintaining blockchain social justice.

ORCHID gathers high-dimensional cognitive partners, uses the influence of the community, empowers the world's top blockchain ecological construction, and is committed to creating a world-class DAO culture. ORCHID DAO will use blockchain technology to achieve a large-scale consensus alliance through the use of blockchain technology. It is also the responsibility of all involved to implement these values ​​in a collaborative manner.

Not only that, ORCHID also provides users with considerable benefits in the time dimension of various digital assets through various benefit mechanisms, and provides users with diversified, fully open, transparent, and mutually beneficial pledge lending services.

Today, pledged lending has become an important part of the decentralized ecosystem, and we fully believe that high-quality P2P pledged lending aggregation platforms such as ORCHID will emerge more and more to create more advanced and efficient services for users.