Product Overview - ECOSYSTEM

What is a blockchain ecosystem?

A blockchain ecosystem is a group of various technological elements capable of interacting to create a system that performs a specified function. This system encompasses multiple governing structures like individual participation, data ownership, funding, exit and entrance criteria, information shared with the system's participants. The blockchain ecosystem can provide true decentralization, immutability, transparency, accountability and flexibility to day-to-day operations. These advantages can be a boon for technology startups and projects as it creates an interconnected network, even if they must consider what information they want to share within the network.

How will blockchain ecosystems benefit organizations?

The distributed nature of blockchains is the perfect example of network technology. It can bring new functionalities for the employees and customers of an organization. It will revamp the complete workflow and how projects are developed, from the starting stage to the end. For a blockchain to be viable for an organization, it has to consider how it can improve the ongoing operation that an existing solution can't. For example, in an organization where database entry is limited and there is no need to share data among peers, a blockchain ecosystem would not be that beneficial. But an organization where data sharing among various entities, departments and individuals occurs at a higher rate could benefit from the blockchain structure of validating data among nodes or peers as fast as possible. The biggest advantage of a blockchain's distributed ledger is that the exchange of information is swift. The use of smart contracts in blockchains can also remove intermediator in a process that would extend the time to perform a task in a larger process. A private blockchain ecosystem can give visibility to the participants, but at the same time, the information given out to the participants can be controlled.

The types of blockchain ecosystems

A blockchain ecosystem could have participants in its network with different goals and business models. They can even have distinct contributions to the network. In fact, the various participants can even be competitors. In a blockchain ecosystem, every participant would be looking out for themselves and what business value they receive as a part of the ecosystem.

The type of blockchain ecosystem for a shared blockchain project will depend on the participants in the network. That is why different types of blockchain ecosystems accommodate the specific needs of the participants in the network. Here are some of the notable ones being used these days.

HubinNetwork ecosystem

HubinNetwork ecosystem will be Governed by $HBN as it's native currency and will expand into other Gamifies (Game tokens) and Meme Tokens. First Meme Token will launch around December 2022 and all NFTs holders will Have an airdrop of tokens (more Information on token Distribution of the first Meme Token will be communicated via whitepaper upon release). As HubinNetwork project grows, DEFI and other circles will become part of HubinNetwork.