InvArch Network | IP standard for Polkadot.
Hello friends, my name is Alexander and today I want to tell you about a new project on Polkadot — InvArch Network. Many of you know this project from the ambassador program, which has been held since October 2021. In this article, we will delve into the technology of the project with you.
Technology
InvArch is a network of intellectual property and decentralized development for Web 3.0. In simple words, it is a blockchain that bridges the gap between ideas and their implementation. This platform will allow you to find like-minded people who will help you realize your brilliant ideas.
InvArch Network Goals:
- Secure storage of your intellectual property (IP) — your ideas are stored as NFT(IPF) on the InvArch Network platform. No one will be able to copy it or upload a similar idea to the platform, because when downloading all files will be checked for uniqueness.
- Search for like-minded people to implement various ideas — you may have some idea, but you physically will not be able to translate it into reality, since you will not have enough money, labor, or just the right knowledge. With the help of the InvArch Network platform, you will be able to find people who will work with you on your idea and all profits, royalties will be divided according to the algorithm that you set when concluding the transaction.
How does it work?
I told you the main purpose of the InvArch Network, now I want to tell you more about how exactly it all works and is arranged, we will go deeper into the project documentation, only in simpler words.
Creating an IP (Intellectual Property)
To create intellectual property files, you must upload your documents, snapshots and other important materials to the project platform. After downloading the documentation, it will be stored in the form of NFT and will be called — IPF.
IPF (IP File) — one file of your intellectual property (one document, one drawing). You won’t be able to put a lot of information in one IPf, so you will have to upload your work to several IPFS, then all your IPF will be placed in one IPS (IP Set).
IPS (IP Set) — a set of IPF that relate to each other. In simple words, IPF is one NFT, IPS is a whole collection of your NFTs. When uploading your files, they must pass a uniqueness check, only unique files are uploaded to the platform. These are created for the safe storage of intellectual property so that no one can copy someone’s idea.
IPT (IP Token) — another very important component of your intellectual property included in your IPS. IPT — IP tokens that are responsible for the royalties that you will receive from the profits of the project that you are building based on your IPS.
Why InvArch introduces an innovative solution?
In this world, it is very difficult to trust people, trusting some person, his promises, you are not sure that he will fulfill all his duties that he promised to fulfill. Even when signing documents, we are already beginning to doubt this, but still, if two parties sign a document, they are obliged to fulfill all the conditions of the document.
With the help of InvArch Network technology, you do not need to trust people, you will trust a smart contract that will guarantee the fulfillment of certain conditions that were described in the smart contract, if it is not fulfilled, then this person will not receive IPT tokens for his outstanding work.
The idea of the project is very young and raw, a lot of things are being finalized, but the idea of the project is individual and you will not find similar solutions on the market, and this is already a very good sign from the project. In subsequent articles, we will try to understand the technology and goals of this project in more detail.
Why is InvArch Network important for Polkadot?
Initially, the idea of Polkadot was to create a blockchain on top of itself, which will be interconnected, which constantly exchange data, tokens, NFT. Not a cross-chain, but a multi-chain (the possibility of using the technologies of other parachains in your own parachain).
This is really the future, followed by InvArch Network, they are promoting multi-blockchain. They will provide an opportunity for other couples whose us to use their own idea, technology. The project has allocated 10% of $VARCH tokens for the first 10 parachains that will start using the project’s technology.
