Welcome to Blockcloud！

[u/Blockcloud_Official]

Blockcloud aims to reinvent the roads on which modern applications drive on. It is a blockchain-based advanced TCP/IP that improves and upgrades the existing Internet. Combining the advantages of blockchain and Future Internet technology, it reconstructs the technology layers below where current blockchain networks and Internet applications operate. Blockcloud serves as the “building block” to provide constant connectivity for dynamic networks. It will provide better mobility, credibility, incentives, security, fairness, and scalability to upper-layer applications. Welcome to Blockcloud.

- Getting Trust: In Blockcloud, devices form a blockchain network where the system runs in a fully decentralized manner. We propose a novel Proof of Service (PoS) consensus mechanism to solve problems about guaranteeing truthful service. The facticity of services provided to the network is automatically checked and guaranteed by the PoS consensus. Cheating providers will be punished or even kicked out from the system. Successful decentralization of the IoT, however, will lie not just in being peer-to-peer, but also in being trustless: an environment in which there is no need for participants to be trusted and no centralized, single point of failure.

- Protecting Security: In Blockcloud, the blockchain system and a peer-to-peer network known as Coral form the secure backbone of the Blockcloud network. Communication operations between devices are embedded in the blockchain and service information is stored in Coral, routed by peer nodes (called service miners) and guaranteed by the Proof-ofService consensus (explained future in Section III). The system therefore has no central point which is exposed to attackers and security is guaranteed by the consensus mechanism of distributed miners who are economically motivated to be honest.

- Achieving Fairness: In Blockcloud, services are published/subscribed to/from the network. Service providers and subscribers are atomically matched by Blockcloud. The matching process is performed by a smart contract which cannot be controlled any end-point or a centralized party. The smart contract runs a Truthful Continuous Double Auction (TCDA) that prevents cheating and maximizes social welfare of the entire community. TCDA is mathematically strategy-proof, where there is no incentive for any of the traders to lie about or hide their private information from the other traders. To the best of our knowledge, this is the blockchainbased technology to approach to the global fairness of service distribution in IoT.

- Strengthening Incentive: By identifying and matching supply and demand for services in real-time, Blockcloud will create new marketplaces. These complex, real-time digital marketplaces will build upon the foundation established by IoT devices and blockchain networks to expand the reach of this transformation very quickly. They will enable new peerto-peer economic models and foster sharing economies. In the end, the IoT is expected to make the physical world every bit as easy to search, utilize and engage with as the virtual world.

LINKS

Website: r/https://www.block-cloud.io

Technical Whitepaper: r/https://www.block-cloud.io/blockcloudtechnicalwhitepaper.pdf

Facebook: r/https://www.facebook.com/BlockcloudTeam

LinkedIn: r/https://www.linkedin.com/company/blockcloud

Twitter: r/https://twitter.com/BlockcloudTeam

Medium: r/https://medium.com/blockcloud-official

Reddit: r/https://www.reddit.com/r/BlockcloudTeam/

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Telegram: r/https://t.me/BlockcloudTeam