FiveToken

The future of Filecoin ecosystem and Web3 network are highly expected especially when the related applications are booming because it means Filecoin network has converted the data value from storing to flowing. But from the perspective of Token Infrastructure, Filecoin ecosystem is lacking a product that can both offer professional token service for miners and help Filecoin to expand its awareness to the big blockchain world and the broader communities. Web 3 is lacking a decentralized and comprehensive payment app like PayPal.

FiveToken targets to solve the problems via developing cross-chain payment protocol, designing interlayer that supports RPC network and realizing the closed loop of transaction, payment and reputation system. We want to support more than Filecoin and also have features more than a wallet, to help expand the application scenario of Filecoin and to proactively be a systematic DApp in Web 3 network. The system can be divided into 3 components:

Payment: multi-chain mode/protocol can support Filecoin to link to other blockchains to build a seamless interoperability from Filecoin network to the web 3 metaverse.

Identity:

1. To enforce the capability of information management via all individual identity accounts and data communication across varied blockchains;
2. To enhance the connection of the decentralized network to the identity in the real world to support all potential applications on Filecoin applied to the real world;

Reputation system:

1. To support Filecoin network to more decentralized DApps and help its application in the real world;
2. To enhance the management (eps. self management) of decentralized individual identity. It can help utilize the reputation system in the real world to the decentralized network;

FiveToken used cross-chain payment protocol to leverage BSC, ETH, Dfinity and other impactful blockchains to the App and design the solution for encrption and storage of private key and compatibility solution of mnemonic words that supports multiple chains. Based on that, we leverage IPFS to complete the store and retrieve ID information in our Web 3 version App.