TON Wallet Integration: Codfish Network will promote easy-to-use TON wallet i.e, TONKEEPER (https://tonkeeper.com) for fishermen, enabling secure storage and management of $COD tokens.
Sharding Technology
Smart Contracts: Implemented to automate payments, microloans, and rewards. Smart contracts ensure trust and transparency, reducing reliance on intermediaries.
Rewards Mechanism
Sustainable Fishing Rewards: Fishermen who demonstrate sustainable fishing practices earn extra $COD, encouraging responsible resource management.
Why choose $COD token
Fish Trade
Fishermen sell their catch on the Codfish Network marketplace, receiving $COD tokens directly from buyers, ensuring fairer prices.
Resource Access
Fishermen can use $COD to buy supplies like fuel, ice, and nets from local vendors, driving adoption within the local economy.
Emergency Relief
The community fund provides immediate support to fishermen affected by natural disasters, funded by a percentage of transaction fees.
$COD DApp
A decentralized application where fishermen and buyers can interact, view token balances, participate in governance, and access community resources.
How it works
The CODFISH NETWORK ecosystem, built on the TON blockchain, addresses key cryptocurrency challenges and tackles significant issues faced by fishing communities in Digha, supporting their growth and well-being.
Problem : Security Vulnerabilities
Cryptocurrencies and blockchain networks are frequent targets for hackers.
Solution : Security Vulnerabilities
Regular smart contract audits and the use of formal verification methods can reduce vulnerabilities.
Problem : Scalability Issues
Many blockchain networks, such as Bitcoin and Ethereum, struggle with scalability, leading to slow transaction times and high fees during peak periods.
Solution : Scalability Issues
Transitioning to more scalable consensus mechanisms, like COD’s move from Proof of Work (PoW) to Proof of Stake (PoS).
Problem : Regulatory Uncertainty
Regulatory crackdowns and differing global standards can impact market stability and limit access to certain services.
Solution : Regulatory Uncertainty
Creating self-regulatory organizations within the industry to establish best practices and standards.
Problem : Price Manipulation:
Fishermen often sell their catch through intermediaries, which leads to inconsistent and low prices.
Solution : Transparent Marketplace
$COD enables fishermen to sell their catch directly to buyers or through approved marketplaces, ensuring transparent, fair prices without intermediaries.
Problem : Limited Financial Access
: Access to financial resources is restricted, especially for small-scale fishermen who lack collateral for loans.
Solution : Microloan Access
Fishermen can apply for small loans in $COD to purchase equipment and resources through a decentralized finance (DeFi) platform.