PCHAIN (PAI) ICO Review – ICO Token News
The Internet has greatly enhanced the efficiency of information dissemination. Human society has fully stepped into the self-media age after two decades of rapid development. The blockchain, which is hailed as the internet of value, has dramatically increased the efficient distribution of digital assets and made self-financing possible. A broad range of industries will be remodelled by the blockchain the future, just as the Internet has reshaped the traditional industries. There are usually two ways to achieve a historical breakthrough, one is through finance and the other is through technology. The combination of finance and technology is called Fintech and the core of Fintech is the blockchain. Blockchain was born with financial properties. Blockchain without financial properties can only be called a DLT distributed ledger. Other Fintech technologies, such as big data, cloud computing, artificial intelligence, can be applied to support finance. Nevertheless, finance is not the native property of these technologies.
The PCHAIN Network is a new infrastructure level public chain system with native support for multi-chain applications and EVM, providing an open, scalable platform for third-party developers in the industry and making it possible for large-scale enterprise applications based on smart contracts. The core technologies underlying the PCHAIN Network include:
- The first native multi-chain architecture that supports EVM, with a consensus of POS based on multi-layer sharding mechanism that tremendously improves the performance of transactions
- A new Oracle mechanism based on the knowledge graph makes it easier to encapsulate smart contracts. The endogenous W3C-compliant smart data of the PCHAIN Network effectively addresses the issue of non-intelligence in smart contracts and can become a fundamental element of smart contracts, just like the market exchange rate data from the external
- The goal of PCHAIN Smart Data is to generate valuable data that filters out a noise and make it an integral part of Oracle. These smart data can be used in various smart contracts and other cross-chain requests on the PCHAIN Network. Smart data, on the one hand, can serve as an intermediary between blockchain and artificial intelligence, and on the other hand, facilitates the integration of blockchain with big data.
- The trunked cross-chain solution makes the exchanges of digital currency and digital assets more convenient. Various Tokens (eg BCH, ERC20) can be directly used to invoke smart contracts in the PCHAIN Network.
Advantages of the PCHAIN Network
The PCHAIN Network is the first blockchain that supports Smart Data, based on which knowledge graph is formed and a smart contract can be executed within a closed loop. It is the goal for the PCHAIN Network to include well-established tools for the blockchain community and developers to design and build applications and products within the ecosystem thereon
Every DApp Has its Own Chain that Makes it Easy to Browse and Restore Transactions
For the DApps of interest, all the relevant data can be obtained through traversing corresponding side chain from origin block to latest block and thus transactions can be restored to provide browsing, which is different from the single chain that still needs to scan all unrelated blocks. In this way, efficiency can be greatly improved.
Supporting Large-Scale Transactions
When the accumulation of transactions of multiple DApp results in a large overall scale, the scale of the corresponding side chain is relatively small. Now every side chain grows itself without affecting the main chain and other side chains. When the scale of transactions of single DApp is large, the computing power of the whole network focus on the chain because of incentive mechanism to ensure blocks can be produced in time and transactions can be completed as soon as possible.
New Consensus Makes Computing Parallelism
Under the original POW mechanism of the public blockchain, every node is involved in mining and thus there is a high probability to produce new blocks at the same time. However, the probability of fork also is high. Under the new consensus mechanism, a group is formed for consensus and the probability of fork is reduced.
High Fault Tolerance
In building the PCHAIN Network, main chain just records, and errors will not occur in theory. When some error happens in a side chain, main chain and other side chains are not affected and only corresponding side chain needs to be corrected.
It is easy to deploy a new DApp with expanding a new side chain. Under the consensus mechanism, the growing of new chain does not cause much burden
The native digital cryptographically-secured utility token of the PCHAIN Network (PAI) is a major component of the ecosystem on the PCHAIN Network and is designed to be used solely as the primary token on the network. PAI will initially be issued by the Distributor as ERC-20 standard compliant digital ICO tokens on the Ethereum blockchain, and these will be migrated to tokens on the PCHAIN native chain when the same is eventually launched.
If you are also interested to participate in the ICO but don’t have enough knowledge about it then you can read ICO Beginners Guide.
- Dr.Feng (Jeff) Cao(Vision & Science)
- Steven Lv(Architecture)
- Zhenjie Zhang(Query Speedup and Indexing)
- Bo (Ramble) Lan(Advisor)
- Danial Wang(Advisor)
- Frank Ma(Blockchain Storage and Optimization)
- Henry Cao(Advisor)
- Howard Yuan(Advisor)
- Ken Huang(Advisor)
- Kevin Zheng(In-memory Data Management)
- Zhihong Chong(Knowledge Graph)
- 1CHAIN Position Paper completed - Mar 2018
- 2Dewdrop Stage - Oct 2018 Complete the development of PCHAIN core system which supports account system and deployment of smart contract,
publish technical white paper. Test net of main chain online.
- 3River Stage - Mar 2019 Publish the product on the major network a complete document of external API and wiki.
- 4Sea Stage - Jun 2019 Expand the capabilities of knowledge graph and Data Blockchain and support external development interfaces.
- 5Ocean stage - Sep 2019 Introduce several blockchain
application projects to form Knowledge Graph Blockchain Alliance.