As you all know, Genesis Vision strives to create a truly decentralized asset management platform. However, there are two problems that are standing in the way of our vision.

The first problem

Everyone trades on centralized exchanges. As you might understand, that fact alone significantly undermines the possibility of decentralization in the case with our platform. There are several decentralized exchanges that are currently operating, but their volumes are completely overshadowed by the volumes of their centralized counterparts.

On Coinmarketcap you would have trouble finding any decentralized exchange in the top 50 list of exchanges ranked by volume. The user experience of decentralized exchanges is really outdated by current industry standards and unfortunately, this amazing concept of a decentralized exchange has never really seen any wide adoption. Anyone who has ever used a decentralized exchange would understand what we are talking about.

But what if they do reach a critical level of adoption and become widely used? That would bring us to the second issue.

The second problem

None of the existing smart contract blockchains are suitable for the development of big scale products for massive public use. For the development of our minimum viable product, we have chosen the Ethereum platform.

The first tests revealed the bitter truth — at its current state, no “weighty” platform would be able to operate on a public blockchain. The idea of building a decentralized exchange on a public blockchain with the support of smart contracts is akin to the idea of running a banking application on the same server as a popular MMORPG.

Such an exchange would have to share server resources with the game during both normal loads and during peak loads — during peak loads, users of the exchange would effectively receive a limited denial of service.

Could you imagine running a platform, whose efficiency would solely depend on Cryptokitties? How would a user feel, if the quality of the service would directly correlate to the amount of big ICOs being held at any given time?

We understood that in the current industry situation, the idea of decentralization is almost impossible to achieve. But the initial vision we had from the start was an idea of a truly decentralized platform — a platform that can’t be prohibited, where anyone can trade any assets, where the borders between the countries don’t exist and where absolutely anyone can exchange assets and invest without any censorship from third parties.

This is exactly why on the day of the platform release we are proud to announce our new project — the Genesis Vision Network.

The goal of the Genesis Vision Network Project is to create a fast, secure, and decentralized crypto exchange platform that offers margin trading and trust management features.

Genesis Vision Network is an absolutely unique blend of two simultaneously working blockchains. The public blockchain’s main objective is to record the history of crypto asset transfers, while DAG is necessary to store the order books.

Let’s take IOTA as an example because their proprietary blockchain Tangle is a directed acyclic graph.

Internet of Things is a concept that describes all of the network similar to the Internet, that will be used by most of the devices. Even though it does not exist yet, it didn’t stop IOTA from developing a cryptocurrency for the specific needs of the Internet of Things.

We know that the transactions between devices could be countless and they also could be microscopic, even less than one cent. That means that the required blockchain needs to support transactions that are extremely fast, low-cost and secure. DAG is all of that.

That is why two different blockchains working in parallel should manifest themselves in a decentralized exchange that could rival its centralized colleagues in execution speeds. Such an exchange would keep all of the benefits of a centralized exchange while remaining to be decentralized.

Now let’s talk tokens

Such a project would require its own currency for operation. Can we just use GVT and create a third use-case for it? No, the Genesis Vision Network requires a token that can be mined, so there is only one solution.

We are overjoyed to introduce you to our brand new token called GVN! It is a mineable token necessary for the operation of the Genesis Vision Network.

The good news doesn’t stop there: not only do we have a new token, but all of you will get it for free. When the GVN is minted, all of the GVT holders will receive an equal amount of GVN as a form of our gratitude to the community.

If you want to learn all of the details about the technical side or, the tokenomics of the project, make sure to read through the Genesis Vision Network whitepaper. We should warn you that all of the technical ins and outs are not yet set in stone, and we will publish all of the development details and our decisions in our blog.

We wanted to take a moment to thank our community for all the support. We know that it is a cheesy phrase that has been said a million times, but we could not have made it without you. We hope that you enjoy using the Genesis Vision platform, and we thank you again for the opportunity to develop even more.

You might have thought that the platform release is the end of our journey. It was a pleasure proving you wrong.

Until the next time!