🔶Introduction to ACT

In the face of industry opportunities and industry pain points, ACT was officially incorporated in the United States in February 2021.

ACT is the world's leading NFT digital collection auction platform jointly created by community users and developers who love NFT around the world.

The platform has many functions, allowing users to conduct NFT auctions and sales with zero threshold, without worrying about complicated technical issues. ACT provides users with excellent liquidity, protects the ownership and vested interests of NFT holders, and promotes more Multiple auctions, encourage creators to participate, and realize global interconnection between users and creators.

As an open NFT auction platform, ACT is committed to building the core underlying and infrastructure of the digital asset auction ecosystem. Through the blockchain underlying protocol, it provides flexible configurable infrastructure and advanced facilities, as well as a variety of functional templates. Creators can according to Free casting according to one's own needs, ACT builds a cloud-based infrastructure to integrate and distribute all user data resources.

In terms of convenience, ACT has reached an unprecedented height. Users can even cast an auction platform with one click to maximize their NFT brand.

In the future, everyone will have their own NFT digital collection. Anyone interested in digital collections can become a member of ACT.

ACT gives each creator the greatest freedom to cast and display their own NFT works, demonstrate the value of the works in a new way of evaluation, and jointly promote the development of the entire industry.

ACT's Mission and Vision

ACT is committed to becoming the world's largest NFT auction platform. Its vision is to become the eBay of the encryption industry. Users can freely mint, display, trade, and auction NFT on the platform.

To this end, ACT shares NFT with a wider group, allowing consumers to obtain a high-quality consumption experience. At the same time, it protects the ownership and vested interests of NFT owners, and can promote more bidding, incentives, and creators.

Creators are globally connected, sharing creative and economic advantages.

In the future, ACT will have a revolutionary effect on the entire NFT field.

ACT's design philosophy

ACT is open to all users with a low threshold. This means that ACT must provide convenient function templates in order to meet the various needs of creators without having to master complex blockchain technology.

ACT uses the underlying public chain side chain storage and development tools as the infrastructure layer to assist in the construction and application of the platform.

At the technical level, NFT includes the underlying infrastructure middle layer network protocol and various NFT applications or DApps built on the protocol and ACT on the bottom layer.

At the beginning of the design, it was designed around the following three points：

Application level

NFT auction, NFT game interaction, work interaction, auction platform interface, NFT browser, wallet.

Protocol layer

NFT standard protocol layer, NFT general protocol layer; NFT chain protocol; smart contract; state transition machine; consensus.

Solution level

Peer-to-peer Internet protocol, platform-neutral computing description language, decentralized domain name system, data storage protocol, untrusted interaction platform, trustless interaction protocol, and instantaneous data transmission.

ACT core modules

Application layer

Create applications that allow users to participate in NFT, and serve to develop NFT application solutions that users can directly use. After the user confirms the asset ownership, creates and links the wallet, pays the casting and issuance fees, and uses the public key to authenticate and identify on the website, the application will automatically assign a CID hash, which will become the exclusive identification of the NFT. Recognition, completion of the sub-label is considered the end of minting.

Protocol layer

The protocol layer of ACT is between the computing layer and the application layer. As a key module, the protocol layer will contain special calculation rules, and the settlement layer will embed new operating logic and rules to automatically create traceable, legal, and verifiable assets. Ownership while eliminating human interference.

In ACT, each NFT has a resource representation with an integer ID. Resources are an ideal type to represent NFTs because resources have important ownership rules enforced by the type system. They can only be one of them and cannot be accidentally and maliciously copied or lost. These safeguards keep NFTs safe. Of course, NFT can also be represented by metadata, such as: name or picture. Such metadata will be stored off-chain. On-chain tokens simply contain URLs or similar elements. ACT takes this as an entry point, so that all associated metadata can be stored on the chain. When users want to bid with each other, they can conduct peer-to-peer auctions without having to call resources to interact with the central NFT contract to define each user account. Methods.

At present, ACT has begun to develop a unified on-chain protocol standard to meet the future development needs of NFT. Based on the unified protocol standard on the chain, it can effectively reduce the threshold and difficulty of NFT asset issuance. For users, NFT assets using this unified on-chain protocol standard can quickly confirm the rights of digital assets, solve the security problems of digital assets, and improve the security of cross-ecological circulation of digital assets.

In ACT, each NFT issued externally corresponds to a unique ID, and the user's NFT can store the token IP and metadata in the contract. ACT improves storage efficiency by storing metadata external URLs and metadata links in contracts. The flexible lock transfer mechanism includes blacklist management functions to meet various management needs of users.

In addition, ACT also allows users to share, collaborate, and borrow some NFTs in a new way, and also allows token holders to re-tokenize attributes in digital assets to create transferable NFT assets.

An asset owner can also provide another user with limited access, such as changing a layer in an artwork or temporarily accessing a virtual location. For token holders, tokenization and smart contracts essentially guarantee the security of digital assets.

Settlement layer

The settlement layer of ACT is mainly responsible for recording and value settlement, and dealing with Business similar to FT includes providing a fixed anchor point for the entire ecosystem to achieve the security and consistency of the entire ACT ecosystem.

Although Ethereum maintains a huge leading edge in the underlying technology infrastructure, Ethereum's block size restrictions, high gas fees, high bidding fees, slow confirmation speeds and many other limitations severely restrict the development of NFT projects.

Binance SmartChain uses the same EVM as Ethereum. ACT can transfer value between BSC, Polygon, Polka dot, Ronin and Ethereum through cross-chain technology, enhance performance in multiple directions, provide lower bidding fees and better services, and There are three advantages:

• Digital creators get lower gas fees.

• Provides developer tools for real use cases.

• Support cross-chain DeFi liquidity expansion set.