project overview - yee · yeecall has built up a social network mainly between acquaintance with...
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Project Overview
The long-term development of digital currency largely relies on the support of a wide
range of application circumstances. Despite the fact that there exist many blockchain
projects, few of them can be implemented and applied on large scale. And that is
specifically true for user-targeted services. Yee is expected to be the first large project
to be put into effect, influencing several hundred million user groups, because Yee is a
cloud communication network and decentralized social ecosystem based on
blockchain.
The project will be composed of four parts as follows:
(1) YeeChain: a blockchain supporting fast transaction and high-efficiency
storage;
(2) YeeNet: a cloud communication network based on YeeChain;
(3) Launching of typical applications: YeeCall, YeeWallet, DApp and content
management platform YeeStore;
(4) Yee ecosystem construction and examples of application circumstances;
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Project Highlights
1. Yee is a competitive team possessing a number of cooperation partners. Our chief
partner YeeCall is an international Internet company with its headquarter located in
Singapore. Meanwhile, it is the global strategic cooperation partner of Facebook
and Google. And we also have built cooperation partnership with more 10
companies, each of which has more than one hundred million global users.
2. YeeCall has established a communication network covering 227 countries and
more than 1000 operators. It has 5 data centers and more than 400 relay nodes,
which makes it possible for efficient transmission of 70% data traffic through P2P
mode. Now it is in the process of update to a loT compatible network.
3. YeeCall has built up a social network mainly between acquaintance with more
than 30 million registered users located in Southeast Asia, Europe and America,
India and Middle East area.
4. Our team has more than 10-year technological accumulation in communication
area and more than 3-year technological reserve in artificial intelligence and
blockchain areas. What’s more, they have had operated 3 products in possession
of hundreds of million users all around the world.
Token Allocation Plan
Yee will issue digital encrypted currency Yee token, hereafter called YEE. According
to the plan, the total amount to be issued will be 10 billion and it will be allocated as
follows:
Proportion Distribution plan Detail
20% Pre-Sale
Used for the follow-up development, recruitment,
market promotion of Yee project. The use of this fund
needs to be regularly displayed to the public.
30% Ecology
Incentive Plan
Users can be granted the reward by completing the
specific behavior on Yee ecology platform (such as
YeeCall) or WhatsApp, Line, WeChat.
This part accounts for 30%, can be unlocked in eight
years, will never be raised.
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Yee token will be released 5% per year in the first
four years, and released 2.5% per year in the next
four years.
25% Foundation
25% Yee token will be the development fund of Yee,
used for YeeNet project research, business
development and ecology construction. The use of
this fund requires the resolution of the Foundation,
and displayed to the public in advance.
10% Cooperation
Agency
10% Yee token will be used to reward existing
cooperation agencies and set up business cooperation
with relevant enterprises.
Yee token launch will be locked by smart contract.
After YEE are listed and traded in the token
exchange, with the beginning of first quarter, token
will be unlocked 5% of this fund every quarter,
unlocking process completed in 20 quarters.
15% Founding Team
15% Yee token to reward the founding team for
exploration and development in the field of digital
currency, as well as the future expense in
maintaining the product technology and operation
development of YeeNet, YeeCall, YeeWallet,
YeeStore. This fund will be locked by smart contract
when the Yee token is issued, it can be unlocked after
1 month, and be unlocked 1/30 of this fund for each
month, unlocking process completed in 30 months.
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Contents
1 General Information..................................................................................................7
2 YeeChain.......................................................................................................................9
3 YeeNet.........................................................................................................................12
4 Yee Ecosystem Construction and Examples of Application Circumstances15
4.1 Ecology Incentive Plan.......................................................................................16
4.2 Examples of Circumstances...............................................................................17
4.2.1 Encrypted Communication based on Consensus.....................................17
4.2.2 Paid Call and Message...................................................................................17
4.2.3 Cross-border Transfer....................................................................................18
4.2.4 Cross-platform Tip..........................................................................................19
4.2.5 The Smart loT..................................................................................................19
5 The First Launched Large-scale Application——YeeCall..............................20
5.1 YeeCall——A Communication Network Community in Possession of 30
Million Users......................................................................................................................20
5.1.1 VIP Group.........................................................................................................22
5.1.2 Emoji and Sticker............................................................................................22
5.2 YeeWallet——Building A Digital Economy in Yee Ecosystem...................22
5.2.1 Creating New Digital Currency....................................................................23
5.2.2 Setting Basic Value..........................................................................................23
5.3 YeeStore.................................................................................................................23
5.3.1 Content creation and sharing.......................................................................23
5.3.2 Mini- programs................................................................................................24
6 YEE Digital Currency Allocation Plan and Token-Generation Rules..........24
7 Technical Consideration.........................................................................................25
7.1 Platform limitation and off-chain solution.....................................................25
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7.2 Technological Innovation Point........................................................................26
7.2.1 Underlying Storage.........................................................................................27
7.2.2 Transaction Method........................................................................................30
8 Yee Foundation.........................................................................................................34
9 Summary....................................................................................................................36
10 Disclaimer..............................................................................................................36
11 Risk Tips Related to Digital Currency - YEE....................................................38
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1 General Information
In the mobile Internet era, instant messaging has become super entrance of users and
data traffic, which can be seen from the great number, high frequency usage and using
time of WhatsApp, Facebook Messenger, Line and WeChat.
Source by: Mary Meeker: 2016 Internet Trends Report
In China, WeChat has further become an ecosystem leading a new mobile economy
era, in which economic value is integrated into communication system. Chatting,
social media, online payment and other digital services have begun to paly an
important role in people’s daily life. Instant messaging system carries people’s
relationship network and meet people’s needs of daily communication and
information acquisition. The rapid development of mobile payment has made service
and goods acquisition and transaction as convenient as chatting. Since communication
system like WeChat successfully put goods transaction, offline service and financial
services like finance and insurance together, it has gradually become a crucial
infrastructure of modern society.
Yee team regards that there are three factors making WeChat and other instant
messaging systems become social infrastructures: enormous users base, trusted
relationship network based on acquaintance and commonly used and friction-free
online payment solution. Yee team has been closely following the development trend
of decentralized and convenient general technology such as Bitcoin and Ethereum.
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These networks based on blockchain provide open-sourcing mode and play a
significant role in achieving prosperous development of new digital ecosystem.
Large-scale communities can encourage digital economic development centers on this
kind of Internet. In an ecosystem like this, consumers can communicate with their
friends and families while easily pay for content creators and goods or service
provided by developers, so that the creators and developers can create more
wonderful products with these economic rewards. In addition, this system is a
decentralized one, which means both economic value and governance distribute
between network stakeholders instead of gathering in a single and centralized
institution. And that will partially decrease people’s concern for stability and privacy
protection problem of large network.
In light of ten-year communicational technology practice, thoughts on the
development and operating of YeeCall in the last three years and foresight of
blockchain technology’s potential influence on current mobile Internet technology and
products’ innovative creation, we are striving to construct a YeeChain supporting fast
transaction and high-efficiency storage on the basis of current blockchain. And taking
YeeChain as basis, we are also making efforts to update YeeNet to a decentralized and
distributed cloud communication network supporting peer-to-peer, groups chat, live
broadcasting and loT. And we will:
• Update YeeCall that possesses 30 million users to a large-scale application
supporting YeeChain and YeeNet. And integrate a digital wallet YeeWallet
supporting smart contract;
• Support and promote specific website development suite, so that developers can
post things or develop DApp on it and YeeNet、YeeCall and YeeWallet can have
their access to it. Eventually a resourceful DApp Store——YeeStore will come
into shape;
• Try to build a decentralized prosperous social ecosystem;
We will define the whole set of frameworks including YeeChain、YeeNet、YeeCall、
YeeWallet, YeeStore and the ecosystem built on it as Yee. Yee will be a
communication infrastructure based on blockchain and decentralized social ecosystem.
YeeChain and YeeNet will be our long-term goals and they will be open to all sources
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step by step so as to let developers make their contribution and be more involved into
system promotion to boost blockchain community.
Yee and mobile internet system of IM ecology
YeeChain、YeeNet、Yee ecosystem and typical applications including YeeCall、
YeeWallet and YeeStore will be separately introduced below.
2 YeeChain
It the beginning stage, Yee will be operated on public Ethereum network. But it must
be clearly recognized that to support efficient and stable operation of a distributed
communication network, the current Ethereum network still has many problems:
a) A great deal of calculation is wasted because of consensus mechanism, and it will
cause some barriers when applied on mobile phones.
b) Network partition will lead to frequent switch between online and offline,
therefore undermine stability of communication mechanism.
c) Slow trade: the average confirmation time (or block time) is about 30 seconds
(December, 2017). This processing speed can hardly be applied in daily life
circumstances.
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d) The amount of data on the chain is too large, which means great consumption of
phone storage space if it is fully stored on the phone.
e) Ethereum blockchain needs to pay for every transaction, which causes barriers for
ordinary users paying with Ethereum encrypted currency.
In order to solve all these problems, we are committed to creating a YeeChain, which
can be operated on current blockchain base and try to achieve high-efficiency storage
and fast transaction.
l High-efficiency storage (local storage can be decreased by 99.99%)
All the nodes within a blockchain are whole-network sharing. With the protection of
secure verification mode, every node can save a small part and save other certain
blocks it cares and uses. When other blocks are needed, they can be downloaded from
other nodes. The double verifications of hash’s result and contextual hash’s result can
make sure that the blocks acquired from distributed network has not been tampered.
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Guarantee the upper layer’s transparency while making changes on the bottom layer.
For the code within the upper layer’s blockchain, local still has all the blocks and the
same logic as before. For the blockchain network bearing frequent transactions, local
storage cost can be decreased by 99.99%.
l Fast Transaction
Introducing the credible third party YeeWallet: on the public blockchain, transaction
fees and speed are two difficult problems. However, the credible third party can
flexibly combine the advantages of public blockchain and that of private blockchain
to let users choose which one they want to use. In this way, the user experience can be
dramatically improved and users’ rights and interests and the security and
tamper-resistance can be ensured. The credible third party YeeWallet can gather a
great deal of small transactions and submit those small transactions to the blockchain
at once. And as intermediary, YeeWallet can protect and promote transactions if both
of the transacting parties trust YeeWallet. For example, Alipay and PayPal create
essential value to their own communities. As a community platform in possession of a
great number of users, YeeCall itself is a credible platform. After introducing
YeeWallet, users can use YEE conveniently.
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3 YeeNet
Building an efficient and real-time communication network is so complicated that
YeeCall has been updating itself in the past three years:
l At the beginning:
YeeCall completed its communicational deployment in every country around the
world by supporting message asynchronous communication and using centralized
networking mode.
l Later:
On the basis of realizing asynchronous communication, YeeCall enhanced its
peer-to-peer, groups chat and other synchronous communication model and supported
live broadcasting mode on the bottom layer. Meanwhile, YeeCall established 5 data
centers and more than 400 relay nodes around the world, covering 227 countries and
more than 1000 operators. Due to all of these efforts, YeeCall has become a perfect
high-efficiency communication network supporting synchronous communication and
asynchronous communication.
l Nowadays:
YeeCall has been updated to a “distributed + centralized” combined networking cloud
communication network. Now, 70% data traffic is efficiently completed through P2P
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communication. And YeeCall is taking step to loT area.
Current YeeCall network structure
Current YeeCall computing structure
For such a communication network covering the whole world, next step will be to
provide more secure architecture and more privacy-respected product design center on
decentralized consensus mechanism.
The birth of blockchain technology gives us some new ideas like
Encrypted communication: The encrypted method of traditional encrypted
communication is transport channels’ encryption from end to end, but there still exists
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possibility of being attacked at the tip node. What’s more, the signaling of
communication has to go through server, which cannot convince people as
blockchain’s consensus mechanism does. We are planning to realize encrypted
communication through smart contract of blockchain. The smart contract will be
formed once a message is sent out, and when the message is read, it will be destroyed
on the server. By this means, transport channels’ encryption plus destroy system based
on smart contract will truly solve the problems of encrypted communication.
Encrypted communication based on YeeNet
Therefore, on the basis of current YeeCall communication network, we will gradually
improve and update this network by using blockchain technology and finally make it
a decentralized autonomous communication network YeeNet.
The expected update process:
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YeeNet 1.0 will support peer-to-peer, groups chat, live broadcasting and loT
communication and it is combined with YeeChain 1.0, which has solved current
blockchain’s core problems of great storage space cost and low speed of trade. And
final it will become a distributed, open, efficient and stable communication network.
The combination of loT and blockchain is an important research topic in the world.
Considering that YeeNet has already had basic ability in terms of edge computing and
loT network architecture, Yee foundation will continue to make research in this area
to find a better integration scheme.
In the future, YeeNet will be applied in many communication circumstances, for
example, the encrypted communication based on consensus, paid service of destroy
after reading (if one sent a paid message, the other must pay first to read the message
and the message will be autonomously destroyed after reading) and tracing to the
source of things in loT application.
4 Yee Ecosystem Construction and Examples of Application Circumstances
We will issue encrypted currency YEE as the currency circulating in Yee ecosystem,
measure of eco-stimulation and the ability of YeeChain and YeeNet. We expect to
build a prosperous ecosystem.
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4.1 Ecology Incentive Plan
In order to promote growth and prosperity of Yee ecosystem, users can complete some
specific missions for rewards on Yee ecosystem’s platform (for example, YeeCall) or
on WhatsApp and Line, which we call “Yee Ecology Incentive Plan”. The allocation
amount of YEE for “Yee Ecology Incentive Plan” is 3 billion. It will be allocated
according to the 8-year plan without any additional issue. 5% of the total amount will
be released in the first four years and 2.5%will be annually released in the late four
years.
The basic principle of user rewarding plan is to give more YEE token to encourage
those who use the platform more frequently, interact with more friends and spend
more time on the platform. After the launch of “Yee Ecology Incentive Plan”, part of
the profit will be released before (Pacific time)10 a.m. everyday. Besides, with more
users joining into Yee and the update of those characteristics, we will support ecology
incentive plan measures based on group social communication mode and content
consumption mode. And all these measures will share the same core ideas with the
basic stimulation measure.
l The core algorithm of this basic stimulation measure is:
Define the user’s valid behaviors according to his or her behaviors and relational
density. Therefore, the token reward the user gets is Y1=（valid behaviors M1/
（M1+M2+M3+...+Mn））*YEE given on that day
Mp =ℱ&(𝐴, 𝐹, 𝐼, 𝐻)
In the formula:
A (activity) refers to the number of people the user interact with on that day;
F (frequency) refers to the frequency of valid interactions, which include message,
phone call, social behavior, content creation, consumption and so on;
I (Personal Impact) refers to personal impact, which can be calculated by the people
the user recently contacts with through PageRank, the core algorithm when a search
engine evaluates the importance of a website. It can be simply explained that the more
high-quality friends the user has, the higher the score will be. Please check
https://en.wikipedia.org/wiki/PageRank for a more detailed definition.
H（History activity）refers to history activity, the more the active days in history are,
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the higher the number will be.
The detailed definition of F1 is：
ℱ& 𝐴, 𝐹, 𝐼, 𝐻 = 𝑤/𝐺&(𝐴) ∗ (𝑤2𝐺& 𝐹 +𝑤4𝐺& 𝐼 + 𝑤5𝐺& 𝐻 )
In this formula, wa ,wf ,wi and wh are weighting coefficients; G1 is capped normalized
function. All the parameter values will go through spam examination. If malicious
deceptive behavior in the numbers is found out, the corresponding value will be
judged as invalid.
4.2 Examples of Circumstances
Yee will build cooperation relations with various kinds of partners, so that users will
consume YEE in cooperation partners’ circumstances. Our ultimate goal is to make
YEE become a universally accepted currency. The circumstances described below are
just part of the typical circumstances. With the development of ecosystem, more
circumstances will be created.
4.2.1 Encrypted Communication based on Consensus
Through smart contract, there is a great possibility that YeeNet will realize encrypted
communication based on consensus. The message from end to end will be fully
encrypted in the transmission process. According to the smart contract, the signaling
and content of the message transited through server will be completely destroyed
when the other side receives the message, and no record will be left.
Since every smart contract will cost computing power and storage space, this
high-intensive encrypted communication will cost users’ token YEE to ensure the
implementation of smart contract.
4.2.2 Paid Call and Message
In the real society, a great part of communication needs to be paid by either the
recipient or the initiator, for example, paid call, paid message and so on. Traditional
IM is peer-to-peer model. Meeting the needs of paid call or message, on the one hand,
requires server’s participation in the whole process. On the other hand, the charging
rules can hardly be completely transparent and be agreed by all participants. However,
with smart contract, we can easily satisfy users’ demand for paid call, paid message
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and so on. And it can be extended. For example, when the other side receives the paid
message, he or she must pay for the message before reading it, and the message will
be destroyed once it has been read. And the whole set of mechanism can be defined
into a set of smart contract.
4.2.3 Cross-border Transfer
Immigrants need to do frequent cross-border transfer. However, they are facing
problems of high exchange rate, long period and complicated procedure of
withdrawing money. YEE can solve the problem by low-cost and fast transfer
between immigrants and their families. After receiving YEE, the immigrants’ families
can submit a requisition form to find individual or institution that can exchange the
money into local currency. Then individual or institution having that ability can
scramble for the requisition form. Once it is success, the exchange rate will be settled
and the two sides need to take out equal amount of YEE as guarantee to form the
smart contract.
When the initiator receives the local currency and both two sides confirm that the
transaction is completed, the individual or institution scrambled the requisition form
can draw back the mortgaged YEE and have the demander’s YEE as well. According
to the completion time and evaluation of the demander, the service provider will get
comments, which cannot be changed. These comments will be accumulated with
service-providing times and quality and finally turn into the ranking list of money
exchange service provider for various kinds of currency in Yee ecosystem. In order to
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promote transaction balance, sometimes the system will pay YEE as rewards when the
service is done while sometimes the service providers need to pay YEE first to
scramble for the requisition forms.
The procedure is as follows:
4.2.4 Cross-platform Tip
Creators can create content on the basis of Yee’s browser framework and users can
pay for the content or give some tips. In this way, brilliant content creator will be
stimulated and continue to bring out more high-quality content. The content created
are accessible to users of YeeCall or other users in Yee ecosystem. Meanwhile, it can
be posted on other third-party platforms such as WeChat and Facebook. When the
original content of Yee ecosystem is posted on the platforms not yet joining into the
Yee ecosystem, it will be automatically added with the creator’s eco-wallet address.
Thus, users of the third-party platforms can also pay tips to original creators. What’s
more, thanks to source tracing technology in blockchain, the copyright of the content
will be protected in the first place.
4.2.5 The Smart loT
In the era of loT, facilities can communicate with each other. Facilities can do some
primary control to other facilities, which is true between human and facilities. But this
kind of interaction is authoritative, so there is great space for improvement in terms of
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user experience and security. With YeeChain and YeeNet, facilities could be smart
because they can interact with human or other participants in the ecosystem by talking
and finally provide service as needed. For example, Amazon’s hardware equipment
Dash Button can help you easily buy commodities you need by just pressing a button.
But it will be too late to buy things by pressing Dash Button when you open the
refrigerator and find what need to be replenished. Here let’s imagine a situation. You
are coming back from a business trip and on your way to home. Before getting home,
you ask your refrigerator to send a picture to your refrigerator application and find
that no beer left. Now what you need to do is just send a message or press a button to
buy the beer. And when you arrive at home, the beer may be waiting for you at the
door. This series of message interaction based on pictures and orders and the
convenient communication without distance barriers is the smart loT ecosystem Yee
wants to support.
5 The First Launched Large-scale Application——YeeCall
5.1 YeeCall——A Communication Network Community in Possession of
30 Million Users
Since the launch of the first version in 2015, YeeCall has had more than 30 million
registered users, among which 90% are in Southeast Asia, Europe and America, India,
Middle East and North Africa. The users are composed of immigrants and their
friends and families. Step by step, a social platform with a network of acquaintance as
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the core comes into being.
YeeCall provides high-quality video and voice call ability and various kinds of
message systems to its users. In accordance with YeeCall’s group ability, the users
voluntarily set up an autonomous group, which is active on YeeCall’s platform. In
addition, with the launch of some considerate functions, for example, one can know
the other side’s time when sending message (for solving time difference problem),
know the other side’s weather when making a call and a group of more than 500
people, users’ trust and love for the platform is deepened. By now, the average time
every user spent on the platform is more than 40 minutes; the average call duration of
every user is as long as 30 minutes; and the average number of message sent out
surpasses 30.
On Saudi Arabia’s ranking list of social media application, YeeCall is among the
TOP10:
Ranking list of social media application for iOS in Saudi Arabia in August,
2017, from AppAnnie
Characteristics of user scale, crowd’s categories and application circumstances make
YeeCall a unique community mainly consist of acquaintance and semi-acquaintance.
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The chain is very stable. Besides, there is a great lack of products specifically
designed for immigrants, because major social networking platforms and or
messaging applications are designed for most people. The needs of YeeCall’s users
including cross-border remittance, exchange of local life information, second-hand
goods transaction, people’s large-scale regular border crossing activity and many
other circumstances should be met by a infrastructure facility containing unified
identification tag, high-frequency messaging system, digital currency and stable
relation chain to make the circumstances more convenient and more efficient. The
design of encrypted digital wallet YeeWallet is in line with this intention.
YeeCall will take advantage of its 30 million users to launch YeeWallet based on
ERC20 and issue digital currency YEE within YeeWallet. With YeeCall’s user group,
YeeWallet and YEE, YeeCall will build a decentralized mobile infrastructure to
facilitate users’ work and life and promote development of digital economy.
Most circumstances in Yee ecosystem mentioned above can be realized in YeeCall.
Moreover, YeeCall can be used in consumption in accordance with social
circumstances.
5.1.1 VIP Group
YeeCall allows users to create public group. With YEE, people with great influence or
knowledge can create paid group, which can only be joined by people paying token or
have specific needs. Knowledge workers and celebrities can impact their followers
through this function and benefit from the time they spend and the knowledge they
share.
5.1.2 Emoji and Sticker
Emoji and sticker are two popular expression methods in the messaging system.
Talented cooperation partners and individuals can upload emoji and sticker to the
Internet through the platform, while users can buy it with token.
5.2 YeeWallet——Building A Digital Economy in Yee Ecosystem
In China, the rapid development of mobile payment brings Online-Merge-Offline era
for Internet. The fast growing of new platform or application largely depends on
convenient payment facility. While in other places, universal and accessible payment
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facility or monetary means is still not found. The appearance of digital currency
makes it possible to build a digital economy in messaging system. With this digital
economy, messaging system can serve users in a more stereoscopic circumstance
while highlighting its advantages by differentiating itself from ordinary IM or social
applications.
5.2.1 Creating New Digital Currency
First step is to create encrypted digital wallet YeeWallet and issue a new kind of
encrypted currency YEE. In order to make sure that the encrypted currency has value
and can circulate within ecosystem, YeeCall will first integrate YeeWallet and help set
the basic value of YeeWallet.
5.2.2 Setting Basic Value
Many immigrants from India, Pakistan and Southeast Asia come to Gulf countries in
Middle East area such as Saudi Arabia, United Arab Emirates and Qatar. They live
and work there and send money they earn to their homes to support their families’ life
and study. Currently, YeeCall is the TOP10 communication and social product of
Saudi Arabia, it has a large number of users in the United Arab Emirates, Qatar, India,
every month there are 5 million users connecting with family and friends via YeeCall.
Through integrating YeeWallet into YeeCall, YeeCall will create the basic value for
YeeWallet. In the future, users can get and consume the encrypted currency YEE in
YeeCall by generating content, commodity transaction and performing specific
behaviors.
5.3 YeeStore
On the basis of YeeNet, we will develop a set of web framework for developers to
use. This framework will support content publishing and browsing, DApp generation,
and can seamless integrated with YeeCall and YeeWallet.
5.3.1 Content creation and sharing
Content creators can create content based on this set of framework and publish to
YeeCall users or other users in Yee ecology. Users can pay or grant the reward for the
content, so good content creators can get incentives and continues to generate
premium content. Meanwhile based on traceability technology of block chain, the
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original rights of content have been protected from the very beginning.
5.3.2 Mini- programs
In Yee ecosystem, developers can also provide plug-in service for users based on web
technology to develop mini-programs. High quality mini-program will greatly enrich
the user experience of Yee ecosystem; meanwhile the convenient payment system will
also facilitate the mini-program’s developers to develop better applications.
6 YEE Digital Currency Allocation Plan and Token-Generation Rules
To promote the development of Yee ecosystem, the Yee team will launch digital
currency based on ERC20 (The Ethereum token standard is used for Ethereum smart
contracts.) via YeeWallet. Based on cloud communication and blockchain technology,
YEE ecosystem will ensure that our users could share computing power resource
through smart contract, obtain YEE token through executing specific behaviors;
Meanwhile YEE can be used to consume third party service and content, none of this
transaction cannot be denied.
The Yee token issue will be mainly divided into the following aspects: Yee token
allocation(ICO), ecology incentive, Yee foundation will hold some and others will be
used to team supporting and so on.
The distribution plan of YEE is as follows:
Proportion Distribution plan Detail
20% Pre-Sale
Used for the follow-up development, recruitment,
market promotion of Yee project. The use of this fund
needs to be regularly displayed to the public.
30% Ecology
Incentive Plan
Users can be granted the reward by completing the
specific behavior on Yee ecology platform (such as
YeeCall) or WhatsApp, Line, WeChat.
This part accounts for 30%, can be unlocked in eight
years, will never be raised.
Yee token will be released 5% per year in the first four
years, and released 2.5% per year in the next four
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years.
25% Foundation
25% Yee token will be the development fund of Yee,
used for YeeNet project research, business
development and ecology construction. The use of this
fund requires the resolution of the Foundation, and
displayed to the public in advance.
10% Cooperation
Agency
10% Yee token will be used to reward existing
cooperation agencies and set up business cooperation
with relevant enterprises.
Yee token launch will be locked by smart contract.
After YEE are listed and traded in the token
exchange, with the beginning of first quarter, token
will be unlocked 5% of this fund every quarter,
unlocking process completed in 20 quarters.
15% Founding Team
15% Yee token to reward the founding team for
exploration and development in the field of digital
currency, as well as the future expense in maintaining
the product technology and operation development of
YeeNet, YeeCall, YeeWallet, YeeStore. This fund will
be locked by smart contract when the Yee token is
issued, it can be unlocked after 1 month, and be
unlocked 1/30 of this fund for each month, unlocking
process completed in 30 months.
7 Technical Consideration
This section introduces the general technical considerations of the application of Yee
ecosystem in public Ethereum network and technological innovation point of
YeeChain and YeeWallet.
7.1 Platform limitation and off-chain solution
Although the future version of Ethereum will focus on improving throughput and
extensibility, when Ethereum network runs on the blockchain by “Proof of Work” and
then applies in Yee Ecology, it will face the following problems:
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1) Consensus mechanism causes a large number of computing power being wasted,
the application in the phone will cause some obstacles.
2) Network partition causes the phone connecting and disconnecting from the
Internet very frequently, thus affecting the reliability of communication
mechanism.
3) Relatively slow transaction speed: the current average confirmation time (or
block time) is around 30 seconds (2017 December), this processing speed is
difficult to apply to everyday life scenes.
4) The amount of data on the chain is too big: full storage has a large consumption
of mobile space.
5) The Ethereum blockchain needs to pay the fees for each transaction, which
creates a barrier for ordinary users to pay with Ethereum encrypted currency.
Given these obstacles, YeeWallet will first implement the semi-centralized, hybrid
on-chain and off-chain transaction service, so that enable scalable interaction with
YEE encrypted currency. In the future, we will work hard to achieve YeeChain that
supports efficient storage and fast transaction. Specifically, our technological
innovation point will focus on:
1) YeeChain will adopt the “Proof-of-Stake” method to build consensus based the
new blockchain agreement of Ethereum, similar to the partition solution of
Cosmos Internet of block chains, and also supports smart contract.
2) At the same time, transform the underlying storage, in the safe and transparent
method, enable the distributed storage of block chain but not
3) non-full storage, but as for the upper-level program, it seems as if have all been
stored locally.
4) Transform the transaction, introduce YeeWallet as the trusted third party, users
can choose to enable advanced function transaction by this third party, such as
can revoke the transaction, etc.; also can choose directly transaction on
blockchain at normal speed.
7.2 Technological Innovation Point
Given the large number of developers who have already contributed “Proof-of-Stake”
and partition solution of Cosmos Internet of block chains, we will not go through
details here. Here we mainly explain the underlying storage transformation and
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transaction optimization.
7.2.1 Underlying Storage
Main concept:
Blockchain is shared by the entire network in its all peers. Under the guarantee of
safety verification method, that each node can be saved only a portion, and meanwhile
saving the individual block that is one’s concern and is using currently. When
someone needs other block that can download it from other peers. Use the double
validation of hash (SHA512) result and the result hash of context relation, ensure that
blocks acquired from the distributed network have not been tampered.
Modify the underlying storage to ensure that the upper layer is transparent. For the
blockchain code of upper layer, the local still has all the blocks, exactly same as the
previous logic. For block chain network with frequent transactions that local storage
can be reduced by 99.99%.
Core Algorithm:
Node distance: The distance between any two nodes or the keys of two data d
is defined as:
d = SHA512 ( node-id 1) XOR SHA512 (node-id 2)
Routing table rule:
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The distance d has 512 bits totally, from high to low, every 4 bits is one group, can
be divided into 128 groups. The nodes in different distance, according to the value of
d, from high to low, can be uniquely assigned to certain group. In this way, the high
groups have many nodes, but because of its far distance, there is less interaction with
this node. The low groups have less nodes, but because of the close distance, there is
more closer connection with this node.
Define a constant k, in each group, save the position of k other nodes (IP: PORT) as a
chain table, as access node list for subsequent access. Then when accessing nodes in
each group, there are cached hot nodes that can be directly accessed; meanwhile if the
nodes to be accessed are not in the list, initiate a node query request to be mentioned
below to any node of the k nodes in this group, find the actual location of the node.
This dynamic node list can be updated at any time, and then effectively prevent the
node failure or the problems caused by the attack.
Node query
Node query should be designed to be executed asynchronously.
The steps can be expressed as follows by pseudo code:
find_node(dest_node_id){
d = distance(my, dest_node_id)
//According to the grouping algorithm mentioned above, find a non-empty group
with the smallest difference from d.
group = find_min_distance_and_not_empty_group(d)
query_nodes=nodes in group
//The algorithm will be over when have found the target, or when the queried
intermediate result does not change (it means that the target to be queried is not
in the network)
while( ! find_dest && query_nodes
changed){ query_result.clear()
for(node in query_nodes){
//Each intermediate node reports the k points it knows
closest to dest_node_id
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query_result.addAll( query(node, dest_node_id))
}
//From this round of results, find the k nodes that closest to
the queried node query_nodes =
find_min_k_distance_from(query_result,dest_node_id)
} }
Data query
Data query and node query are highly similar, except that the node id becomes the
key value data “Hash”. The different is, during the query process, once one node has
saved this data, it will report directly that it has found this data. Then the query will be
over directly, then acquire this data from this node directly. Because it is very similar
to find node, pseudo code will not be attached here.
But data storage will simultaneously initiate the storage to the closest k nodes during
the storing of the actual storage nodes. In this way, if one of the k nodes is online, the
data can be accessed.
//Initiate the storage
Store_data(data_key,data){ node
=find_node(data_key)
store_if_not_exists(node,data_k
ey,data)
}
//Actually storage data in this
node
on_store_data_in_myself(data_ke
y,data){ d = distance(my,
data_key)
//According to the above grouping algorithm, find a non
empty group with the least difference from d
group = find_min_distance_and_not_empty_group(d)
nodes=nodes in group
for(node in nodes) store_if_not_exists(node,data_key,data)
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}
For hot data that is accessed frequently, when it is accessed by actual storage node, it
can also ask for being diffused (i.e. be cached). Specifically speaking, ask for the node
that initiated the query to cache this data on the node queried in the last round.
Mathematical analysis of algorithm
Supposing that there are totally n nodes using this storage engine, respectively marked
as x1…xn (x is numerical value with the length of d bits). Then, for any x∈{x1…xn},
define Di(x) as the set of numerical value with the same d-i length prefix.
Define Txy is the query time required to query from x to y, then can prove that(The
proving is omitted):
Where sup is the upper bound and Hk is the kth harmonic number. When k tends to
infinity, Hk / logk tends to be 1, so the expected upper bound of Txy is , the
average algorithm complexity can be considered as .
7.2.2 Transaction Method
The introduction of trusted third party YeeWallet: in the public blockchain, transaction
cost and speed is the problem relatively difficult to solve. But trusted third party can
combine the advantage of public chain with the advantage of private chain;
meanwhile, the users can choose which method to use, while significantly improve
the user experience, guarantee the user rights, guarantee security and non-tamper
ability of Yee. The trusted third party YeeWallet can aggregate a large number of
small transaction, submit to the blockchain in one time. Meanwhile as transaction
intermediate party, as long as both parties trust YeeWallet, YeeWallet would protect
and promote the transaction (such as Alipay and Paypal produce an essential value for
the community of its own). As the community platform that have owned a large
number of users, YeeCall itself is a trusted platform for the users. After the
introduction of YeeWallet, the users can use YEE conveniently.
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Core Business Logic Implementation Explanation:
1) One-way payment with no need to be reconfirmed. Representative transaction:
tips, purchase system service. YeeWallet fast payment (should have the balance
in YeeWallet of the payer): YeeWallet of the payee will show received payment.
Transaction can be finished instantaneously in YeeWallet. If the payee needs,
YeeWallet will intensively submit to the blockchain after a period of time. Status
change is visible to the users.
Because transferring to blockchain is independent operation, we will not
introduce the relevant processes.
2) One-way virtual goods transaction that need to be confirmed. Representative
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transaction: purchase group membership right, purchase third party sticker and
other virtual goods transaction.
YeeWallet revocable payment: the payer pays to YeeWallet first and the payee
will receive the advanced payment reminder (but not credited yet). The payer can
revoke the payment before the specified time limit. After the time limit, if not be
revoked, the payment will arrive YeeWallet account of the payee.
3) Physical transaction that need to be confirmed. Representative transaction: C2C
commodity transaction. Use YeeWallet to pay periodically: The payer will pay to
YeeWallet first, and the payee will receive advanced payment reminder (but not
credited yet). Before the payee submits the proof of delivery to YeeWallet, the
payer can apply for revoking the payment, but the revocation will be delayed. If
the payment is not revoked after submitting the proof of delivery, it cannot be
revoked any more(but can initiate the arbitration).If the transaction is successful,
or if the payer does not confirm in a long period of time, the payment will arrive
YeeWallet account of the payee. If there is a dispute in the subsequent transaction,
both parties can submit the arbitration request to the third party arbitration
organization, attached with arbitration fee. The arbitration fee of the losing party
will be vested to the third-party arbitration organization.
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4) Bidirectional matching transaction. Representative transaction: various real-time
order-snatching transaction, such as currency exchange intermediary service. The
exchanger initiates the order first and pay the corresponding Yee token to
YeeWallet. After the order is initiated, the corresponding organization that can
take this order or the third party will snatch the order. The exchanger need to
confirm that the order-snatchers are service providers. After confirmation, they
will transact offline. After completing the transaction, the order initiator confirms
or the order taker upload agreed evidence to complete the transaction, Yee token
will be paid to the order taker by YeeWallet.
5) Portfolio transaction: such as the transaction type of personal information
exchange. Information transaction exchange is that the publisher firstly initiates a
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one-way payment with no need to be reconfirmed to the system, the system will
make a price according to the requirements of broadcast range and others. When
the information is read, the reader performs a one-way virtual goods transaction
with need to be confirmed to information provider. The more information is read,
the greater the benefit is.
In summary, in order to solve some practical problems, Yee will launch a credible
third-party payment and guarantee organization YeeWallet, and will develop and host
a centralized off-chain ledger book, which will provide API that apply to all digital
service partner. This will (1) improve the user experience that is affected by the delay,
(2)reduce network cost in the transaction between users, (3) avoid stressing on the
public network due to heavy volume of transactions, (4) adapt to the unique
transaction scene of YeeCall users.
8 Yee Foundation
Yee Foundation expects to become a decentralized ecosystem partner community that
uses YEE encrypted currency (digital service and application). The primary mission
of Yee Foundation is to research and realize YeeChain that supports efficient storage
and rapid transaction, and the decentralized basic communication network YeeNet that
is based on YeeChain, Meanwhile, become an independent, non-profit, democratic
governance organization that is available to all members of this ecosystem.
The main function of Yee Foundation will include: work with other ecosystem
partners to openly manage their resource; research and realize YeeChain that supports
efficient storage and rapid transaction, and the decentralized basic communication
network
The mission of Yee Foundation is to develop the open ecosystem of digital service so
that users can easily realize their requirement. In order to fulfill its mission, Yee
Foundation will invest the resource in three specific objectives related to research,
development and governance.
l Governance objective
Yee Foundation will invest the resource to establish a fair and transparent governance
process that will consider the opinion and need of all participants in the ecosystem.
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This open governance model will supervise the membership process, Yee reward plan,
participation rule, legal matters,
the decision related to content and compliance guideline.
l Research objective
Research and realize YeeChain that supports efficient storage and rapid transaction,
and the decentralized basic communication network YeeNet that is based on YeeChain.
By cooperating with partners, investing the resource, cultivating innovative
environment and testing the new way to participate
ecosystem to promote the realization of the value creation and network effects of Yee
ecology.
l Development objective
The Foundation will guide and fund the development of tools to enable ecosystem
partners to build, develop and create the value with each other. As a part of this
process, Yee Foundation will hire the development team to promote the work of
integrating YeeWallet and YeeStore into YeeCall, so that continue to perfect the
technology that supports the Yee ecosystem.
l Task and long-term objective
The Foundation's long-term objective is to fund the team to research and realize
YeeChain that supports efficient storage and rapid transaction, and the decentralized
basic communication network YeeNet that is based on YeeChain, and maintain a set of
open source code base of YeeChain and YeeNet, benefit the ecosystem participants.
To assist the foundation in carrying out its mission, a part of allocation fund that Yee
provides will be used as monetary reserve in accordance with the Foundation's limited
discretion. Yee Foundation is responsible for guaranteeing the safety of Yee reserve
and the transparency of fund using.
l Core technology summary
The core technology initiative of Yee Foundation will focus on delivering
(1)YeeChain that supports efficient storage and rapid transaction; (2) YeeNet1.0 that is
with peer to peer distributed network, group chat, live broadcast, IoT communication
network; (3)Various transaction service of YeeWallet that enable centralized digital
36
service to make use of YEE in large scale; (4) Yee incentive implementation plan; (5)
Decentralized identity service for Yee users. This set of tools aims to reduce the
obstacle of the partners, users and other third party in integrating the Yee ecosystem.
9 Summary
Since 2015, YeeCall had focused on the next generation of communication technology
and the establishment of social platform. Currently, YeeCall
has already made initial achievement in communication technology and user scale.
Now Yee Foundation cooperates with and YeeCall, hopes to establish a decentralized
mobile infrastructure and social ecosystem.
To promote the popularity and application of YEE encrypted currency, YeeCall will
invest the resource to make YEE become the main transaction currency in its
application, and promote Yee ecosystem service to hundreds of millions of users.
YEE encrypted currency will focus on promoting the convenience of modern mobile
application and experience of zero friction payment. Make it possible to establish a
decentralized ecosystem by the user scale and daily transaction of Yee ecosystem, as
well as the convenient currency pattern and ecosystem service of Yee.
10 Disclaimer
This statement does not involve in security tender and bearing the related risk of
YeeCall operation and YEE.
It does not involve any controlled products within the jurisdiction of the
judiciary:
This document is a conceptual document for elaborating the project [white paper], not
for sale or soliciting bid for Yee products or share, security or other controlled
products of its relative company. According to this document, it can not be used as
prospectus or any other form of standardized contract documents, it is also not the
persuasion or solicited investment advice that constitutes security or any other
controlled product in any jurisdiction district. This document can not be used to sell,
subscribe, or invite others to sell, subscribe any security, or contact,
37
contract or promise based on this. This white paper has not been reviewed
by the judicial regulatory of any country or region.
It does not as advice on investment: Any information or analysis presented in this
document does not constitute any advice on Yee token investment, and will not make
any specific recommendations with a tendency. You have to listen to all necessary
professional advice, such as tax, accounting and related matters.
It does not constitute any statement and warranty: This document is used to
describe the Yee platform and Yee token we have proposed, however
Yee Foundation makes it clear that: 1)For the accuracy or completeness of any content
described in this document, or for the project related content
published in any other way, it does not give any declaration and guarantee; 2)In the
absence of preconditions, it does not give any declaration and guarantee for the
accomplishment or reasonableness of any forward-looking, conceptual statement;
3)No content in this document serves as a basis for any future promise or statement;
4)Book related persons or other aspects of any loss caused; 5)Within the scope of
legal liability that can not be exempted, the maximum limit allowed is only by the
applicable law.
Not everyone can participate in the project: Yee network system and platform is
not for everyone to participate, the participants may need to complete a series of steps,
including providing information and documentation that can indicate identity.
Unauthorized companies have nothing to do with this project: Except Yee
Foundation and YeeCall, using the name and trademark of any other company or
organization does not imply that either party is affiliated or endorsed, this document is
for the purpose of explaining the relevant contents only.
Precautions related to digital currency YEE: "Yee Token" or "YEE" is the virtual
cryptography token of the Yee block chain network.
YEE is not a virtual currency: YEE can not be used to exchange goods, service and
transaction in the Exchange during the period that this document is not completed, nor
be used it outside the Yee network.
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YEE is not an investment product: no one can guarantee, also have reason to
believe that the YEE you hold will appreciate, there may even be the risk of
devaluation.
YEE is not the evidence of ownership and YEE does not have the right of control:
holding YEE is not a matter of granting the holder ownership and the stock right of
YeeCall and Yee network system; nor does it grant the holder the right to directly
control or make any decision for YeeCall and Yee network system.
11 Risk Tips Related to Digital Currency - YEE
<Risk due to user's personal error behavior>
Risk due to loss of private key:
Before YEE is assigned to the participant, the participant will obtain the public key
account associated with YEE, and the YEE public key account can be accessed by the
participant’s randomly assigned private key, forgetting private key will likely lose
YEE in the associated public key account. Suggest practise how to operate more so
that the participant can safely back up private key in multiple local devices, preferably
operate in the non network environment.
Risk due to the private key being revealed to the third party:
After obtaining the private key of the participant' public key account, any third-party
individual or institution may process the YEE in their corresponding account. It is
recommended that participants protect the related equipment to prevent unauthorized
login and reduce the risk probability.
Risks that may arise due to participation in the vote:
YEE holders are most likely to lose the YEE due to malicious or irresponsible voting
during the participation in the vote.
Risk associated with network security due to the use of YEE
Related risks caused by Ethereum network protocol:
YEE will initially issue ERC20 token developed on the base of the Ethereum protocol,
39
any faults and unknown function in the Ethereum protocol are likely to lead that the
unknown undesirable situation happens in YEE. Local unit accounts of Ethereum
and that are based on Ethereum protocol may lose all the value as YEE, and for
more information on Ethereum protocol, please refer to: www.ethereum.org
Unofficial Yee network alternative risk:
After Yee network system is developed, it is very possible to be plagiarized by others
or they will build the similar network system due to its open source code and protocol.
The official Yee network system may need to compete with these plagiarized network
system, all users will need to bear the negative impact on the Yee network system due
to this.
Risk of unlawful invasion from a malicious third party:
Malicious third parties, such as hackers, other teams or organization, may attempt to
intervene in the development of Yee network system, possibly use but not limited to
the following methods: DDOS, Sybil, spoofing, smurfing or attacks based on
consensus mechanism and so on.
Risk due to that Yee network system has the infrastructure software security
vulnerability:
This network system is an open source system, Yee employees or other third parties
may intentionally or unintentionally introduce bug to the network core system, which
will lead to the use risk and loss of YEE.
Risk of that major technological breakthrough in the area of cryptography may
cause the hidden weakness being excavated and exploited:
Cryptography is an important part of block chain technology, and the advance in
cryptography or the development of other high-tech technologies may bring the risk
of Yee Network System and YEE being stolen or losed.
Risk of Yee network system failure:
As a relatively high-tech system, unacceptable or unexpected network failure may
happen in Yee network, meanwhile there may be risk of causing the YEE disappearing
40
or the market fluctuation.
Risk of being mined and attacked due to the appearance of its high value:
For many decentralized cryptography tokens and virtual currencies, YEE generated by
the block chain technology of Yee network system is likely to be mined and attacked,
including but not limited to double attacks, large pool attack, "selfish digging
mine"attack and competitive condition attack, etc., there may also be unknown newer
mining attack that bring a significant risk to the operation of Yee network system.
<Risk due to market uncertainty>
Risk due to small number of users in Yee system:
Yee system will generate the corresponding value over time, and if Yee network
system is not used by more businesses, individuals or other organization, can not
generate more public awareness, it will impact less its development and lead to the
small number of users, which may restrict or reduce the use and value of YEE.
Risk of insufficient liquidity of YEE caused by Exchange:
At present, YEE has not yet traded on the Exchange, after it is open to trade on the
Exchange, it is likely because the exchange is relatively new and for understand less
for various laws and regulations, compared to those Exchange that have established
for a long time and have other mature virtual token trading in, the new Exchange is
prone to fraud and failure. Exchange problems may cause a significant portion of
YEE transactions to fall into fraud or other operational risk problems, which could
reduce the value and liquidity of YEE.
Risks of that the development of Yee network system does not keep up with the
expectation of YEE holders:
Yee network system is currently still in the development stage, and there may be a lot
of changes before official release to the outside world, the expectation of participants
on Yee or network system may be different from that in the actual release, meanwhile
the change of actual situation in the design and implementation may also cause that it
cannot be released as the schedule.
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Risk that participants cannot get insurance at loss:
Unlike YEE token public key accounts, bank accounts, other financial institution
accounts or other social service accounts, Yee Foundation usually will not buy
insurance on their network system. When YEE is lost or the network system loses its
value, there will not be any insurance agencies that can provide claims service to YEE
holders.
Risk of Yee project dissolution:
Yee project will have a variety of factors, such as value crash of Bitcoin and Ethereum,
the failure of commercial operation or intellectual property claims, etc., Yee project
may not be able to continue operating so that leads to the failure of release or team
dissolution.
Risk of regulatory policies in the judicial or administrative departments of
relevant regions and countries:
Block chain technology is now supported or endorsed worldwide, but it has also been
closely scrutinized by regulatory departments. The function of Yee network and YEE
may be affected by some regulatory policies that include but are not limited to
restrictions on the use or ownership of YEE digital currency, which may hinder or
limit the development of Yee network system.
Other unknown risks:
Block chain technology and the corresponding digital currency technology are
relatively new and not fully validated technology, more unpredictable risks may arise
in more ways.
This document may be changed or replaced at any time, however we have no
obligation to update this edition of the white paper, or provide readers with
additional information channel.