VINChain - Decentralized Vehicle History. VINChain Token Pre-sale Ends in: 24th December 2017

Current Problems in the Sector

How VinChain Works

Since only seller is aware of the true condition of a salvage car, it’s not easy for the buyer to predict whether the car will truly be in a “good" or "bad" condition. VinChain is the world’s first decentralized international automotive data marketplace. The VinChain team is working to ensure the complete transparency of a vehicle’s history.

Project VinChain solves the problem of asymmetrical information in the used vehicle market by creating a decentralized, immutable, transparent, secure, and reliable vehicle lifecycle repository.

VinChain is a blockchain database that records all informati on pertaining to vehicles. For each vehicle, the information accumulates during the entire period of use.

This history is transparent and accessible to everyone. To protect accuracy of the information, the technology of distributed storage is used. This gu arantees absolute reliability and security of data.

Basic Usage and Client Economics Vinchain intends to implement a token to smooth the processing of car information queries on the VinChain system.

An end user will pay VinCoin i n exchange for all information related to a vin number that is currently being stored on - chain. The information queries are designed to rely on extremely simple token economics for the clien t facing aspects of the payment system. In order to have a successful token system currently, it’s necessary to leverage simple economics.

Widespread adoption of any system comes most easil y when end - users can understand the process enough to trust it. For a user wishing to retrieve information from the VinChain system the transactional costs will always be VinCoin. In addi tion it is a long term goal of the project to leverage the economic control of having a usage coin in order to eventually reach a relatively stable token price relative to traditio nal state - backed currencies.

Information Provider Economics

When a user exchanges a token for information on a vehicle all active participants in the network currently providing information on that vehicle are compensated with part of the token. Initially token allocation will be primarily linked to events . An event is any specific thing that has happened to a vehicle. If the vehicle changes owners, that’s an event. If the vehicle is in an accident, that’s an event.

Technical Breakdown

Secure user authorization

The vinSSL certificate technology used in the vinchain service is a decentralized digital key management system based on Blockchain Vinchain. This certificate allows password - free and safe logging to the vinchain service for any user. In this case, blockchain Engine is used as a decentralized store of trusted hash sums for SSL certificates. In order to generate the certificate, confirmation of any central control is not required. Generation and modification of the certificate are made by the user himself. The vinSSL blockchain architecture effectively and safe ly solves the problem of revoking the compromised certificate and its quick replacement, in contrast to the CRL and the OCSP protocol, which is vulnerable to the MItM attack.

Stages of using the vinSSL certificate

1. Run the program to create (or update) a private SSL certificate.

2. Publish or update the "digital signature" in the certificate.

3. Uploading the certificate to the browser. Further, t he certificate is valid for 5 years.

4. Now when you visit the vinchain service, the login to the account will be done without specifying the username and password.

5. If the account on the website does not exist, it will be created automatically, based on the data specified in the certificate.

How to work with the VinChain service

After authorization, the service provider performs a request for a car report by accessing the VINChain service via the API interface. VINChain service, upon receipt of the request, performs a search for information using the VIN - code of the car in the dat abases of service providers. Each record will contain data on the information provider, date, VIN number and data on the use of the car.

Verification of the reliability of the information in the reports:

How to work with the VinChain service After authorization, the service provider performs a request for a car report by accessing the VINChain service via the API interface. VINChain service, upon receipt of the request, performs a search for information using the VIN - code of the car in the dat abases of service providers. Each record will contain data on the information provider, date, VIN number and data oThe user receives a car report connected to the VIN - number, containing all the information from the databases of the service providers of the vinch ain system. To each line of the report, the vinchain system presents two hashes to the user: the first hash is generated by the VinChain system when data is provided, the second hash is requested from the VinChain blockchain. the use of the car.

Why you should buy now

You get our tokens with a huge discount if you get them till December 24.

Sell or use your VIN tokens after ICO period.

Use only 25 VIN tokens (1.25 USD) to check the history of any vehicle. The minimum price to buy a vehicle history report on the current market is 9 USD (sample).

The total amount of VIN tokens is limited and the number of participants will increase dramatically. VIN token will become more valuable.

Distribution of funds collected during pre-ICO