Victoria, Canada - (NewMediaWire) - January 29, 2023 - BitPencil (https://bitpencil.xyz/), a decentralized financial derivative agreement initiated by the Access Bitcoin Foundation, its business includes funds, insurance, options and other financial derivatives. BitPencil is set up on the Ethereum second-layer network Starkware and uses the StarkEx transaction engine to realize the decentralized self-custody of user assets throughout the process. Its fund (initiation and follow-up investment) sector is expected to officially launch for public testing at the end of March 2023. For more details, please visit the official website of BitPencil.
High performance, High availability, High reliability and System Underlying Architecture that Collects Massive Amounts of Data
BitPencil builds the R&D support layer on distributed servers and the data support layer on the second-tier network of Ethereum. The powerful system underlying architecture ensures the smooth operation of the micro-service business and aggregated service layers. The load balancing and micro-service gateway undertake data distribution, scheduling, and monitoring functions and can support a QPS of 1 million+/s while supporting unlimited horizontal expansion. Self-developed firewalls and DDOS protection can protect the continuous availability of services, prevent most hacker attacks, and have AI intelligent learning capabilities.
Auxiliary functions such as DNS polling, service discovery, APM monitoring, link tracking, service registration, service current limiting, and distributed logs form additional support around the entire system architecture.
Create a Decentralized Fund Investment and Financing Tool
BitPencil fund business is an investment and financing ecological agreement composed of investors, fund managers and platform operators. Investors can freely choose fund products that meet their preferences. Fund managers can establish funds through the assessment rules, and platform operators formulate and maintain ecological regulations. The transactions of all fund managers are open and transparent. Investors will give priority to high-quality fund managers to maximize their profits. Fund managers must strive for better fund performance to expand their fund size. Through the survival of the fittest in the market and the law of natural selection, investors and fund managers are spontaneously matched and docked.
Realize the Isolation of Assets and Trading Engines
Bitpencil hosts the fund assets purchased by users in the Ethereum smart contract, and the smart contract interacts with DYDX's asset agency contract. The Bitpencil transaction engine adopts the Ethereum two-layer network. It is connected to the API port of the DYDX order book. When the fund manager operates the fund for contract transactions, he can only issue transaction instructions and not touch user assets. Only when the user sends a redemption instruction will the purchases return to the user's address in the original way. In this way, assets are isolated from transaction engines to ensure the security of fund assets.