InvArch: Tokenizing Ideas using Substrate.
InvArch is a new kind of blockchain that provides an intellectual property & decentralized development network for web 3.0. InvArch is built using Parity’s Substrate, an incredibly powerful and interoperable blockchain SDK that allows for lightning-fast transaction speeds, minuscule transaction fees, and seamless runtime upgrades. It’s the same technology used to build the Polkadot & Kusama Networks, among many other cutting-edge chains such as Kilt Protocol, Crust Network, Moonbeam, Polkadex, and SubSocial — just to name a few 😎
Intellectual Property Sets (The IPS Pallet)
In context, an IP Set is viewed as an idea, which consists of one or more components (IP Tokens) that help to strengthen and describe that idea.For example, a 3D rendering of a flux capacitor prototype could be stored as an IP Token representing an STL file. Additionally, an XML file explaining the relation between a flux capacitor’s different components could also be stored as an IP Token in the “Flux Capacitor” IP Set, these two files exist and help to strengthen and expand on the idea for building a flux capacitor.
The IPS Pallet is a Substrate Pallet developed by the InvArchitects behind the project that defines basic functions to create and manage an IP Set. As a result of this development, users can create a new IP Set, transfer an IP Set to a different owner/account address, list an IP Set for sale, buy an IP Set, and delete an IP Set.
Intellectual Property Tokens (The IPT Pallet)
An IP Token (IPT) is a part of a set and can be thought of as a component of an idea. Either by itself or in combination with other IP Tokens, it serves to strengthen the foundation for an idea. IP Tokens represent a unique digital asset. IP Tokens are stored using IPFS, which is a decentralized storage protocol that securely stores files off-chain and provides a unique hash or CID which is used to query the data.
The IPT Pallet, another custom pallet recently developed, allows users to mint new IP Tokens and add them to an IP Set, burn an IP Token from an IP Set, and amend the data stored inside an IP Token.
Intellectual Property Ownership (The IPO Pallet)
IP Ownership (IPO) is a form of fractional ownership over an IP Set. A finite and preset number of fungible IPOs may be assigned to a single intellectual property set. The value of a single IPO will be determined by the total amount of the network’s native currency bonded to the IP Set, divided by the total number of IPO tokens.
The final Pallet in this series, the IPO Pallet, provides the logic so that users can issue the total supply, transfer some tokens to another account, set the balances to a given account, and bind or unbind IPO to an IP Set.
The InvArch Pallet Library
The InvArch Pallet Library (IPL) is an open-source (GPLv3) Pallet library available for all Substrate developers to utilize. At the time of this article’s publication, the IPL references current and future Pallets; however, The IPS, IPT, and IPO Pallets are complete and ready to go! 🚀
git clone https://github.com/InvArch/InvArch-Pallet-Library