ICO KYC Report
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About LOHN
About LOHN
Why lohncontrol.com ?
lohncontrol.com is a real business project that will build a business services platform called lohncontract.com for processing economy in over 30 industry branches. On this platform, the companies from developed economies will be the buyers and will launch production orders for various consumer goods to the production companies in emerging economies that can produce commodities at competitive prices due to the cheap labor they have and the proximity of raw materials at low prices.
lohncontract.com will evolve as a complex ecosystem in which, besides buyers and manufacturers, will be present the suppliers of raw materials, logistics, quality management, industrial process management, legal services and settlement of payments between the parties. The relationship between them will be managed in blockchain through the lohncontrol smart contract.
At present, the annual production achieved in lohn globally exceeds 10,000 B $, representing 10% of Gross Domestic Product.
Lohncontrol technology. Proof-of-Tasks for blockchain platforms.
Lohncontrol project proposes a blockchain platforms dedicated consensus protocol that builds upon the Proof-of-Tasks by implementing it with Proof-of-Stake architecture of Ethereum smart contract.
How does Proof-of-Tasks work?
In the Proof-of-Tasks blockchain consensus protocol the platform lohncontract.com create only the template of the blocks. Such a template has two things in them – the header information about tasks and the reward address for the validators. The header information inside a block points to a random stakeholder. These stakeholders then validate the pre-created blocks. The more stack a validator holds, the chances of them approving a block increases. Only after the validation, that particular block gets into the blockchain.This is how Proof-of-Tasks uses the best of the consensus algorithm features Proof-of-Stake to validate and add a block to the blockchain. Moreover, the network pays both: the platform blocks creator (lohncontract.com) and the validators the fair share of the transactional fees. Thus the system acts against the “tragedy of the commons” and creates a better solution for block validation.
The impact of the Proof-of-Tasks consensus protocol is similar with Proof-of-Stake : more secured against any attack and a not power-hungry system. The lohncontrol Smart Contract will work through dedicated APIs for each section of the platform.
Given that Ethereum 2.0(Serenity) launch is just around the corner, we'll efficientize the work by focusing our development efforts on writing smart contracts following architectures optimized for the features introduced with it.Doing so we'll be able to have cheaper transactions, faster transactions and confirmation times through attestations, being able to scale horizontally across shards to possibly thousands of transactions/second as well as take advantage of many other features within the newest version of Ethereum compared to the current dApps deployed on the current Proof-of-Work Ethereum blockchain which will continue to have most of the limitations that they have now.Doing so we won't have to spend resources on re-architecting the decentralized application, rewriting the code and migrating it on Ethereum 2.0 as it is not backwards compatible with the current Ethereum blockchain.
How the LOHN token price calculation algorithm works ?
The use of the platform by buyers, as manufacturing order makers is conditional upon the immobilisation in a lohncontrol smart contract of a number of LOHN tokens equal to the amount that it has to pay for the placed order. This means that all the time active request value (AVR) must be covered by LOHN tokens value. If the active requests amount increases, the LOHN tokens that are in a predetermined number will have to cover this value and automatically will increase too. Because the 1B LOHN token to the $ 0.06 ITO value can only cover a $ 60M active request, any $ 60M increase in the value of active requests placed on the platform will cause a proportional increase in the token value LOHN that has to support the platform as a kind of escrow agent.
This increase, proportional to the platform's use, was determined by a mathematical calculation materialized in a growth algorithm that includes multiple variables such as the availability of LOHN tokens on the free market or their liquidity.
MkLV = ARV/ATxATL
where
MkLV - Market LOHN Value ;
ARV - Active Requests Value
AT - Available Tokens
ATL - Available Tokens Liquidity (%)
For example if:
ARV=300 Millions USD
AT =600 Millions LOHN tokens
ATL =40%
then
MkLV = ARV/ATxATL=300M/600Mx40%liquidity
MkLV=1,25USD
So, the LOHN Token price is always in direct proportion to the market volume of lohncontract.com and growth will be exponential as the project goal is reached and ROI rate will be in concordance.
