FairChain

Elevator Pitch: FairChain revolutionizes blockchain transactions by introducing a fairness-oriented mechanism, ensuring your transactions are processed fairly without the risk of strategic exploitation. Say goodbye to unpredictable fees and hello to a transparent, user-friendly blockchain experience with FairChain.

Concept

Blockchain-based transaction platform implementing a novel Transaction Fee Mechanism (rTFM) ensuring fairness and incentive compatibility

Objective

To provide a transparent, fair, and strategically unexploitable blockchain transaction platform.

Solution

Implementing the rTFM mechanism that ensures zero-fee transactions are possible and fees increase fairly, leveraging on-chain randomness to maintain miner and user incentives.

Revenue Model

Earning transaction fees, offering premium services for analytics, secure transaction pathways, and membership for faster transaction processing.

Target Market

Cryptocurrency users, blockchain-based businesses, decentralized finance (DeFi) platforms, and digital marketplaces.

Expansion Plan

Initially targeting niche markets with high blockchain engagement, gradually expanding to general cryptocurrency platforms and integrating with major DeFi projects.

Potential Challenges

Technical implementation of on-chain randomness, ensuring network security, and gaining initial user trust and adoption.

Customer Problem

Existing blockchain TFMs often prioritize miner profits over fairness to users, resulting in high transaction fees and potential strategic exploitation.

Regulatory and Ethical Issues

Navigating global cryptocurrency regulations, ensuring user privacy, and preventing illicit transactions.

Disruptiveness

Introducing fairness and transparency into transaction fees, potentially reshaping user expectations and miner strategies within blockchain ecosystems.