InsurChain Weekly Report (Aug. 28th – Sep. 3rd)

Business & Cooperation

 

  1. InsurBox Update

Data for this week: Weekly Active User: 59.3 thousand, Daily Active User: 37.9 thousand.

 

InsurChain is a decentralized insurance blockchain platform, committed to building a peer-to-peer insurance market and ensuring the normal operation of this insurance market through a series of rules and mechanisms, and striving to become the world’s largest decentralized insurance blockchain ecosystem.

 

  1. The Prediction Master is coming soon this week

 

The Prediction Master is a social forecasting platform based on InsurChain, which includes film, sports, finance, gossip, and other blockchain-related aspects. Players can buy the corresponding predicted results based on their own judgment and divide the rewards in the prize pool after the event. The technical part of Prediction Master has completed last week, and now it has entered the private beta, which is expected to launch in InusurBox this week.

 

With the arrival of various types of Dapp, we will continue to encourage the community to launch more and more blockchain applications, enriching the ecosystem of InsurChain through various products and creating the value by technology.

 

Dear INSUR community members, if you have any good suggestions and solutions, please contact us through the open channels, and we will be the first time to communicate with you.

 

 

Tech

 

The InsurChain public chain testnet has already been in progress, and the team of developers will constantly improve the technical architecture to enrich the network functions.

 

Completion as follows:

  1. Blockchain is a mirror image of the real world. A commercial application needs to connect the real world and the world on the chain. The up-chain of the contract assets as well as the query and expense issues of the contract assets have been done this week.
  2. The mechanism based on escrow agent is implemented to guarantee the security and credibility of funds through escrow.

We will create trusted online marketplaces and build efficient and secure peer-to-peer trading models that address the financial security of purchases by untrusted vendors.

Details as below:

2.1 Escrow Transfer

This transfer starts as any other asset transfer on the chain and requires the sender’s signature. However, unlike normal transmission, we have added some additional data structures during the escrow transmission, which not only improves the transmission process, but also strengthens security and prevents system risks.

2.2 Escrow Dispute

As a reflection of reality, the chain world naturally needs to be able to cope with possible disputes in the real world. Thus, InsurChain perform the creative setup: the sender or receiver of the payment can initiate a dispute at any time from the start of the payment to the expiration date. In the event of a dispute, the escrow agent is entitled to disburse funds to the sender or recipient (others excluded).

2.3 Escrow Release

In reality, we often encounter the trust problem of delayed payment and/or delivery, which is difficult to be effectively solved by simple smart contracts on the ETH network.

In order to deal with the common pain points in the traditional insurance industry, InsurChain creatively proposed the “partial release” mechanism. The essence of this mechanism is consistent with the non-tampering and enforcement of smart contracts, which has achieved the decentralization effect.

 

 

Community

Last week, the examine and review of each group leader has been completed, and the corresponding rewards distributed. InsurChain has always attached great importance to the construction and maintenance of the community, and the community recruitment has never ceased:

  1. Group Leader Mentoring: Join InsurChain and become a group leader by the introduction of the old group leader.
  2. Community Building Rule: Recommend yourself, add InsurChain assistant and note “group leader join”.

 

 

Market

8.28-9.3, the trading volumes of INSUR reached 2.637 billion and 377 million daily trade. Among all the trading, the trading volume of INSUR/BTC, INSUR/ETH and INSUR/USDT on OKEx reached 130, 83 and 182 million respectively.

 

 

Community

 

Community data update:

Telegram: members (22401)

Twitter: subscribers (5765)

Weibo: subscribers (1580)

Wechat assistant: friends (3229)

 

InsurChain official channels:

Homepage: www.insurchain.org

Twitter: @InsurChain https://twitter.com/InsurChain

Weibo: @InsurChain https://weibo.com/insurchain

Email: customer@insurchain.org

Telegram:https://t.me/insurchain

Wechat Assistant account: InsurChain or InsurWallet

Wechat official account: insur666