The story of the blockchain has long been told? NGK opens new ideas for on-chain finance

4 min readOct 6, 2020

Compared with last year, this year’s industry could not be regarded as lively and extraordinary, but at least it is not as bleak as last year. However, in sharp contrast, the overall public chain situation in year 2020 has lost the colorful feeling of the previous two years.

In year 2020, the shine of blockchain has been taken away by DEFI and others. The launch of mainnet, establishment of developer community, and the construction of Dapp seem to be the only way out for the development of the blockchain. Some people say that the story of the blockchain has already been told. However, some people believe that the popularity of Ethereum and some altcoins in recent times is actually using facts to prove that there are opportunities for blockchains.

NGK blockchain

Someone once told a joke: a product is sold for 5 yuan without the empowerment of the blockchain, and after the empowerment of the blockchain, the source is able to be traced and the quality is guaranteed, but the price has risen to 8 yuan, however, the sales are not as good as before.

Although it is just a joke, it also reflects the problems encountered in the development of the current blockchain. It is difficult to implement blockchains. The attempts of blockchain + real-world scenarios have been numerous in the past few years, but the results are often not satisfactory.

Nonetheless, the blockchain is bursting with vitality in another area, that is, chain finance. This also coincides with the view of the Spirit Stone. The best entry point for the blockchain to implement is the financial blockchain.

NGK blockchain

Looking at the development of the market economy, from the creation of banks to national economic activities, finance has played a role that can bring economic value.

Nowadays, the emergence of blockchain has given more possibilities for financial development. The performance of blockchain technology in the financial field is exceptional. In the field of blockchain, decentralized finance with the characteristics of blockchain is also quietly rising.

In fact, the concept of DeFi has existed for a long time, but until now, some people still feel confused when talking about DeFi. DeFi is a financial derivatives business with lending as the core. On DeFi, assets can realize programmable economy based on the gateway form of blockchain technology and realize mutual circulation.

NGK blockchain

Due to its public ledger, consensus mechanism, and the characteristics of multi-party participation, blockchain is suitable for applications in the financial field. So DeFi has already solved the traditional financial credit problem. But at the same time, DeFi also faces disadvantages such as high thresholds.

The NGK project developed by Spirit Stone was developing for DeFi. The NGK blockchain was oriented to the needs of DeFi and DEX at the beginning of its design. Its core technology is to write DeFi into the function module of NGK, and input parameters in this module so that users can generate their own smart assets. On this basis, NGK also provides developers with many applicable tool modules for developers on the chain to build their own functional modules.

It is worth noting that NGK.IO will also provide incentives and rewards for the behavior of the development tool module. When a user transferred the corresponding tool module, a certain fee must be paid to reward the corresponding module developer.

NGK blockchain

Therefore, on NGK.IO, information can be transferred at a faster speed. On the other hand, users can also directly transfer and deploy the source code of the DeFi protocol, thereby further promoting the prosperity of the DeFi ecosystem.

At present, in order to ensure the bottom technology of the NGK.IO mainnet, the upcoming NGK.IO is in the official test environment. The purpose is to ensure that its economic model can be fully verified by the market before it is officially launched.