VabonChain is a decentralized application (DApp) within the OCC mainchain ecosystem, operating under the protocol framework provided by OCommunity. VabonChain, or VBC for short, facilitates services such as distributing red packets, tipping, and paid entry into community fan circles through DApp tools.

Project Introduction

VabonChain is an ecosystem composed of a series of green consumption applications integrated with blockchain technology. At its core is a mechanism based on the Proof of Credit (POC) consensus algorithm, which inherits the security features of Proof of Work (POW) through computation but introduces an innovative aspect: leveraging users credit values as a threshold for mining eligibility. Consumption is investment, and sharing generates income.
The VabonChain community is a user-governed organization where community members can join the VBC Eco Mall to experience the value of green consumption. By applying new retail concepts, it enables a sharing-based marketing model. It helps brands penetrate the green market and fosters a green lifestyle for users. Utilizing blockchain technology, VabonChain aims to create a green organic industry ecosystem based on blockchain, establishing decentralized data storage, information retrieval, payment settlement, and related infrastructure services.

Core Algorithm
At its heart is a mechanism based on the Proof of Credit (POC) consensus algorithm. POC inherits the security features of Proof of Work (POW) through computation but innovatively leverages users credit values as a mining eligibility threshold.

Buyback Mechanism
Phase 1 - 2021: Buyback and burn 200 million tokens
Phase 2 - 2022: Buyback and burn 400 million tokens
Phase 3 - 2023: Buyback and burn 500 million tokens
Ultimately, the circulating supply will be maintained at 1 billion tokens.