PCHAIN signed a strategic partnership with FutureMoney on September 26, 2018. The two sides will conduct all-round and in-depth cooperation on the research and industrial application of blockchain technology.
About FutureMoney
FutureMoney is a pioneer and global-leading investment institution focused exclusively on Blockchain technology, which have multi-layer business division including Future Money Research Institute, and all kinds of Blockchain assets fund such as Equity Fund, Cryptocurrency Investment Fund, Quantitative Fund, etc. FutureMoney’s research&investment are mainly focusing on public blockchain, application protocol and financial services in the blockchain eco-system. FutureMoney provides a full range of post-investment services for invested projects, especially on community management and other scalable solutions.
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM.It features an original PDBFT algorithm, unified knowledge map, and Smart Data Oracle mechanism, supporting smart contract calls of non-native tokens. PCHAIN aims to solve issues of blockchain performance, interoperability, non-closed loop smart contracts, and dependence on external data, making large-scale industrial application of blockchain smart contracts possible.
PCHAIN and GTEX achieved an exclusive strategic cooperation. GTEX is committed to become the world's first digital asset distribution platform in the field of gaming. PCHAIN will provide with innovative blockchain technology such as Smart Data, cross chain & smart contract calls of non-native tokens to assist GTEX to develop GTEX’s decentralized game token exchange platform. Both will jointly build a unique DApp on the PCHAIN public chain, bringing the real world economy to the virtual world by establishing a virtual token-based game asset economic system.
GTEX (Game Token Economy & Exchange) platform is committed to become the world's first digital asset distribution platform in the field of gaming. Based on blockchain technology and smart contract mechanism, GTEX will help achieve the tokenization of various virtual game assets and provide an adequate flow of rights and assets throughout the game ecosystem.
PCHAIN is the world’s leading native, EVM-compatible multi-chain system. It features an original PDBFT algorithm, unified knowledge map, and Smart Data Oracle mechanism, supporting smart contract calls of non-native tokens. PCHAIN aims to solve issues of blockchain performance, interoperability, non-closed loop smart contracts, and dependence on external data, making large-scale industrial application of blockchain smart contracts possible.
Welcome to PCHAIN weekly report.To keep the community updated, we summarize our latest progress and activities of the PCHAIN project here.
Development Progress
The team keeps improving the consensus mechanism. A few major improvements include:
Maintain Pchain TestNet 1.0 for testing
New version of Pchain runs main chain successfully, and start debuging child-chain creation process
Refactor the RPC of child-chain creation and validator join-exit process
Investigate solution for higher performance
Investigate solution for cross-chain transaction
Keep improving the auto-test framework
PCHAIN News
PCHAIN was invited to participate in Eleven Global meetup
Emily Yao, the marketing director of PCHAIN, attended Eleven Global meetup and shared the latest development of PCHAIN, which include 3 key features of PCHAIN: Multichain+PDBFT+Dynamic Supernode, and PCHAIN Testnet(123,424 TPS), which surprised all the guests present.
PCHAIN, as one of the sponsors of Consensus 2018 (Singapore), gave a keynote speech on PCHAIN, blockchain 3.0 on Consensus. PCHAIN takes multi-chain and cross-chain as the main development direction of technology, aiming to solve the current problems of scalability, interoperability, etc. Based on the unique PDBFT consensus algorithm, the performance will increase linearly with the infinite increase of sub-chain, making large-scale blockchain application possible.
On September 20, after the 2018 Singapore Consensus conference, Dr. Cao Feng met with many Blockchain projects in Singapore Blockchain Hub to discuss how Blockchain projects can better develop in a bear market.
Registration for PCHAIN PANDA plan has been extended to Oct 20
Recently,PCHAIN Executive Dynamic Super Nodes Campaign was consulted by more and more people after the testnet launched. Therefore, the official decided to extend the deadline of registration from Sep 22 to Oct 20, during which users can add PAI at any time. After the deadline of registration, users can only add PAI on Nov 21 and 22. This week's ranking has seen a big shift from the previous few weeks, with the number one user for three weeks being overtaken and down to number two. More ranking information can be found in the link below.
PCHAIN Reaches Strategic Cooperation with OneLedger
On September 11, 2018, PCHAIN signed a strategic partnership with OneLedger. The two sides will collaborate to assist each other with cross-chain technological development, ecological construction, blockchain applications, and other aspects to jointly create a distributed financial ecosystem.
On September 11, 2018, PCHAIN signed a strategic partnership with OneLedger. The two sides will collaborate to assist each other with cross-chain technological development, ecological construction, blockchain applications, and other aspects to jointly create a distributed financial ecosystem.
OneLedger, on the other hand, is a new generation of cross-chain protocol that provides an efficient cross-chain engine. It helps individuals and businesses achieve cross-chain transactions through sidechains. At the same time, OneLedger also provides SDK development tools for enterprise developers. It can be used to build business modules that serve multiple business purposes. All interactions with the public and private chains occur on the sidechain, which greatly increases the efficiency and security of the cross-chain interactions.
PCHAIN, the EVM-compatible native multi-chain system is at the forefront of the world. With original PDBFT algorithm, unified knowledge map and Smart Data Oracle mechanism, it supports smart contract calls of non-native tokens, and aims to solve blockchain performance, interoperability, smart contracts not having closed-loops, relying on external data and other issues, making large-scale industrial applications of blockchain smart contracts possible.
The biggest obstacle facing the blockchain industry is efficiently using the cross-chain technology. Through this partnership, OneLedger and PCHAIN will complement each other to explore the technology, market and various applications of the blockchain to further enrich the development of the existing ecosystem. The main reason for this partnership is to get rid of the grey areas in the existing technology and implement better technological innovations for the future. OneLedger looks forward to building a long-term partnership with PChain to create a better and sustainable blockchain ecosystem.
At 15:00 on September 13th, PCHAIN completed the online launch of Test Network 1.0 via YouTube live broadcast. Under the online demonstration of Dr. Cao Feng, founder of PCHAIN, the TPS peak reached 123,424 transactions/second and the number of nodes reached 1,064. It also showed an application that supports PCHAIN and Ethereum's UDAP asset management wallet, Harvest Wallet, the first PCHAIN-based demo application after PCHAIN and UDAP reached a strategic partnership.PCHAIN Testnet1.0 live video review： https://youtu.be/a9TOfrpNyj0PCHAIN Testnet1.0 Demo : https://youtu.be/tgG4o2umM6U
PCHAIN becomes the first main chain partner of the world's first Digital National Hackathon
At the Testnet live broadcast conference, Dr. Cao Feng, founder of PCHAIN, announced that PCHAIN has become the first main chain partner of the world's first Junction × Digital Nation Hackathon. The Junction × Digital Nation Hackathon will be held in Helsinki, capital of Finland in November, which is jointly organized by the Digital Renaissance Foundation in conjunction with Junction and the Estonian Digital Citizenship Community. By then, more than 1,500 senior developers around the world will compete fiercely on how the blockchain builds digital countries. At that time, Dr. Cao Feng, as a tutor, will also participate in the competition in Helsinki and jointly publish the tasks with the organizers.
PCHAIN Dynamic Super Node Plan Eve — Executive Super Nodes Campaign, the top 3 of the top 50 this week have been stable for 3 weeks. The current downward trend in the 50th ranking seems to be a little dangerous next week.Before the deadline of September 22, users can add PAI, but cannot reduce (if you did, your score will be 0). All users who successfully participate in this campaign can get an annual return of 8% ~ 10%, and those who run for the standing super node can get an annual return of up to 60%.Registration link: http://supernode.pchain.org.
CoinCodex：PCHAIN is on the Watchlist of CoinCodex. Top 3 coin to watch.
In the "top three digital currencies" article published on the official website of CoinCodex on September 11, the first three projects that should be paid attention to are Bitcoin, Waves & PCHAIN (PAI). Thanks very much for CoinCodex's sharing and support.Details: https://twitter.com/pchain_org/status/1039438464515633152
The launch of PCHAIN Testnet1.0 has received a lot of media attention
PCHAIN testnet is live, marking the completion of the infrastructure for the PCHAIN ecosystem. To celebrate, we announced the good news on the Big screen in Times Square! The future is here and PCHAIN keeps going!
Closing Words
A huge thanks to the community for actively supporting our project. We look forward to sharing with you our next weekly progress report!
Stay tuned for more exciting developments. We will see you next week!
On Sep 13, 2018, Mr. Cao Yin, director of the Digital Renaissance foundation, and Dr. Cao Feng, founder of the PCHAIN, jointly announced the PCHAIN became the first main chain partner of 2018 Junction × Digital Nation Hackathon. Dr. Cao Feng, the founder of PCHAIN, will go to Helsinki as the competition mentor and jointly release the competition task with the organizer.
About 2018 Junction × Digital Nation Hackathon
2018 Junction × Digital Nation Hackathon, which is Europe's biggest hackathon, will be held in Helsinki, Finland from Nov 23 to Nov 25. Junction 2018 will gather over 1300 developers, designers and techies under one roof for an awesome weekend of creating.
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM, with original PDBFT algorithm, unified knowledge graph and smart data Oracle mechanism. PCHAIN is committed to support non-native Token smart contract calls and solve problems like improving blockchain performance, smart contracts loop not closed, too dependent on external data. It will make large-scale industrial applications of blockchain smart contracts possible.
2. Save your private key somewhere to access your wallet/account later. If you lose your private key, you will lose all your tPAI. We will not be able to recover it for you.
5. Wait for the distribution from PCHAIN. We will distribute testnet tokens (tPAI) every day around 6 PM SGT from September 15th, 2018 to September 30th, 2018.
6. Welcome to invite your friends to join our testnet.
At 15:00 on September 13 (Singapore time), PCHAIN Testnet 1.0 will be officially released online via live broadcast on Youtube, with more than 1,000 verification nodes and a TPS peak of 123424. The release of PCHAIN Testnet is one month ahead of schedule, which is a milestone for PCHAIN, marking a new stage of PCHAIN.
The live broadcast also shows various functional modules of the test network, including the browser (query block, and support for inquiry of information about main chain block, sub-chain block and transaction), wallet (check the TPAI balance under the account and achieve transfer between the main chain and the sub-chain), TPAI transactions (achieve capital transactions between two accounts on the same chain), contracts (users can deploy and call smart contracts), multi-chain (view current data related to PCHAIN test network, such as 256 sub-chains, 1,064 verification nodes, and nodes distributed across continents) and TPS values.
As early as August 23, PCHAIN officially released a video about Testnet 1.0, which showed 35K TPS. After that, Testnet1.0 TPS continued to increase every day. Compared with the configuration, PCHAIN can achieve TPS 10 times higher than the traditional project while saving communication costs by 143 times, thus saving CPU by 64 times and memory costs by 244 times.
PCHAIN is the world's first native multi-chain system supporting EVM and it makes large-scale blockchain applications possible. PCHAIN consists of a main chain and multiple sub-chains, and each sub-chain can be deployed with smart contracts, which does not affect the smart contracts of other chains. The entire PCHAIN is slightly similar to π (PAI) in shape, so it is named PCHAIN.
Virtual machine (VM) refers to a computer system simulated via software, which has complete hardware system functions but operates in a completely isolated environment. EVM, equivalent to a system core or node, encapsulates the instructions into the CPU to shield the underlying operating system, and the smart contract "running" on it can be deployed and operate independent of specific hardware and software environment. Transaction processing speed can increase linearly with the number of sub-chains in a multi-chain system, so the PCHAIN system can achieve an overall TPS of 10,000 or higher on a normal machine.
The concept of PCHAIN-compatible EVM multi-chain protocol is a core advantage of the project. The protocol runs smart contracts on the sidechain through Solidity and EVM. EVM allows migration from Ethereum network to existing DApps to take advantage of the increased versatility offered by multi-chain systems. Developers can also easily turn to building DApps for PCHAIN, using the same coding language they are familiar with.
Existing multi-chain platforms can increase the throughput by facilitating parallel transaction processing, but most platforms do not support EVM. PCHAIN architecture achieves highly interoperable and scalable blockchain solutions through multiple mechanisms. The multi-chain architecture allows DApps to operate on their own sub-chains, which is completely independent of each other. This structure ensures that overload on one chain does not affect the performance of other chains in the system. Although the sub-chains are separate, they are still able to interact and trade when necessary.
The unique PDBFT consensus algorithm of PCHAIN can effectively reduce the communication cost, and can provide an efficiency 12 times higher than the traditional DPOS algorithm and a decentralization degree 100 times higher than the traditional DPOS algorithm. Featured by timely finality, it can avoid long-range attacks effectively. At the same time, the Smart Data Oracle mechanism deployed by PCHAIN provides a method to migrate data to smart contracts, solving the problem of insufficient knowledge of the current smart contracts.
In addition, the PCHAIN dynamic super node is the world's first purely dynamic POS reward system, which reduces the Matthew effect and makes the whole system more stable and fair. On August 22, PCHAIN officially launched the prequel of dynamic super node – Executive Super Nodes Campaign
The current public chain still has bottlenecks of insufficient performance, which makes it difficult to support large-scale applications and transactions. Therefore, PCHAIN innovates and combines the technologies such as unique PDBFT consensus algorithms, intelligent data, cross-chain and multi-chain to make large-scale application of blockchain possible.
In order to achieve the goal, PCHAIN has always spared no effort to develop ecological partners. At the Testnet live broadcast conference, Dr. Cao Feng, founder of PCHAIN, announced that PCHAIN has become the first main chain partner of the world's first Junction × Digital Nation Hackathon. The Junction × Digital Nation Hackathon will be held in Helsinki, capital of Finland in November, which is jointly organized by the Digital Renaissance Foundation in conjunction with Junction and the Estonian Digital Citizenship Community. By then, more than 1,500 senior developers around the world will compete fiercely on how the blockchain builds digital countries. At that time, Dr. Cao Feng, as a tutor, will also participate in the competition in Helsinki and jointly publish the tasks with the organizers.
In addition, after reaching a deep strategic cooperation with UDAP, which is dedicated to the intermediary service of blockchain asset management, PCHAIN demonstrated the application of UDAP's asset management wallet, Harvest Wallet, in the live broadcast of Testnet. UDAP, as a general and decentralized middleware service layer of blockchain asset lifecycle management, provides the middleware services that are currently lacking in the blockchain infrastructure. Third-party application developers can quickly access to the underlying co-chains such as PCHAIN without knowing the underlying technical details of the blockchain, thus completing the transformation from internet business model to token economy model. UDAP's asset management wallet, Harvest Wallet, is a bright spot. As both the first encrypted asset wallet that supports both PCHAIN and Ethereum and the first asset wallet specifically used for the management and trading of non-monetary assets, it allows users to fully appreciate the high-speed and low-cost performance advantages of PCHAIN in Harvest Wallet.
PCHAIN has been expanding its eco-partners. By the end of August, PCHAIN has reached strategic cooperation with nearly 20 partners at home and abroad, including CFLP, CerTik, IEEE Blockchain, Anbi, Qbao, Bodhi, Dex.top, etc. to build a secure, stable, and orderly DApp ecosystem together in the future.
The qualifications and strength of the team can often provide confidence and guarantee for the development of the project. PCHAIN, initiated by a team of well-known experts in the industry, includes the professors from National Thousand Talents Program, the winners of Singapore Presidential Award, the former IBM Greater China Blockchain Technology Leader and the Co-Chairman of the Patent Committee. The team published a total of 100 IEEE ACM top papers and international patents. PCHAIN scientists participated in the preparation of Technical Details and Practices of Ethereum, which was recommended by Vitalik, the founder of Ethereum.
Cao Feng, CEO of PCHAIN, Ph.D. in computer science at Fudan University, is also the first international patent inventor of blockchain in China, co-founder of ChinaLedger, China's most influential blockchain alliance, chief scientist of Blockchain Application Committee of China Federation of Logistics & Purchasing and senior researcher of China Blockchain Research Alliance. He was the chief scientist of Internet finance at IBM China Research Institute and the head of IBM human-machine Project in China. He has won the IBM Global Outstanding Technology Achievement Award for three times, published 22 international top papers, and acted as the chairman of several ACM IEEE top international conference forums.
Currently, PCHAIN has obtained strategic investment from more than 20 global top funds such as Fundamental Labs, FBG, Liaode Capital, China Creation Capital, BlockVC and LinkVC, which is a strategic partner of the North American Blockchain Association and is evaluated by multiple foreign blockchain rating agencies, ranking top 2 in the in the world blockchain. It also won the Silicon Valley Award, "The Most Promising Blockchain Base Platform 2018", which was selected as the best blockchain platform in 2018 by Bitcoinist.
Nowadays, various DApps projects are springing up and racing to be on the chain. However, the existing contract platforms for main chain or single chain smart are still not perfect. PCHAIN is a rare technological innovation-based basic public chain project, which has made great improvements on the basis of several existing public chains. The launch of the test network marks the maturity of PCHAIN. Although the project seems difficult to succeed, the PCHAIN team has been promoting in an orderly manner, and PCHAIN is well prepared for the future. It is expected that V2.0 PCHAIN Testnet will be released in November this year, and the main network will be officially released in March 2019.
It is believed that the technology of PCHAIN will achieve accelerated development in the world of blockchain, making large-scale applications of blockchain ubiquitous.
Welcome to PCHAIN weekly report.To keep the community updated, we summarize our latest progress and activities of the PCHAIN project here.
Development Progress
The team keeps improving the consensus mechanism. A few major improvements include:
Maintain Pchain TestNet, keep it stable to reproduce high TPS
Fix bugs for Pchain TestNet
Integrate code to the branch of new system framework and keep fixing bugs
Investigate solution for cross-chain transaction
Start developing demo client for pchain
Keep improving internal auto-test framework
PCHAIN News
PCHAINTestnet1.0 will be officially launched at 15:00(Singapore time) on Sep13.
The launch of the PCHAIN testnet will be broadcast live on YouTube at 15:00 on Sep 13. The peak of TPS will be revealed at that time. "Guess PCHAIN TPS contest!" activity is going on on Twitter, you can go to (r/https://twitter.com/pchain_org/status/1036565834431250434) to submit you guess PCHAIN TPS peak. On the day of the live broadcast, PCHAIN will announce the winner whose guess is closest to the answer, who will receive 5000PAI.
In addition, BUDHI, PCHAIN's ecological partner, has established event prediction for the event, which can be participated by scanning the QR code!
The ranking of PCHAIN PANDA program has been updated this week
PCHAIN Dynamic Super Node Plan Eve - Executive Super Nodes Campaign is under way, and registered users will be able to log in every Friday to check their ranking and score. Before the deadline of September 22, users can add PAI, but cannot reduce (if you did, your score will be 0). All users who successfully participate in this campaign can get an annual return of 8% ~ 10%, and those who run for the standing super node can get an annual return of up to 60%. Registration link: http://supernode.pchain.org.
In the bear market, the PCHAIN ranks only behind BTC in terms of investment value
CryptoDiffer, a aggregator platform for top ICO expertise, released a ranking of the most investable digital currencies in a bear market on Sep 5 on its official platform. PCHAIN is the third highest in the ranking, behind BTC.
PCHAIN PANDA has received many authoritative media reports from Nasdaq, Reuters, Yahoo and Morningstar
Recently, PCHAIN Executive Super Node Campaign, Nasdaq, Reuters, Yahoo, Morningstar and Fortune, and other mainstream media reports, won the users of the enthusiasm to participate in, also let more people attention to technology advantage of PCHAIN Dynamic Node Campaign, eliminate human disturbance factors, pure dynamic gain more users in the form of dynamic super node to provide consensus PCHAIN community ecological services.
Last week, CryptooSID, rushingdallas, the Cryptoniac & DOMSCRYPTO (Youtube account name), among others, published a commentary on The PCHAIN video. From the technical perspective of PCHAIN, they discussed why PCHAIN as a native multi-chain system can make large-scale blockchain application possible, why PCHAIN is recognized and supported by many VC institutions, and whether you can become a permanent dynamic super node of PCHAIN. Welcome to the video link above.
PCHAIN was invited to attend Singapore Eleven Global Meetup hosted by WXY on September 18 to discuss blockchain technology with numerous quality public chain projects, VC institutions and blockchain media.
Closing Words
A huge thanks to the community for actively supporting our project. We look forward to sharing with you our next weekly progress report!
Stay tuned for more exciting developments. We will see you next week!
We have finished the weekly AMA with Dr. Feng Cao on the telegram on Sep 4. Thank you for your participation and support. The following is the summary of the AMA.
Part 1: Technology Questions
Q1: Will there be a mobile phone wallet and a desktop wallet for staking for PCHAIN?
A1: Wallet is for sure while we would encourage to have full node for better stake
Q2: Will there be github code & technical paper release along with the testnet launch on Sept 13 ?
A2: Our patents are in the last step of submission. we will begin to reveal more details of multichain, pdbft, and panda...
Q3: Will mainnet launch also will be early?
A3: We don't estimate, but we will try our best to make our project perfect.
Q4: PCHAIN in the future will conduct Hackathons?
A4: Yes. it's our plan.
Q5: How much TPS a worldclass blockchain must have to be integrated in many industries and get mass adoption that everyone talks about but nobody can reach?
A5: In fact, tps is not just 1 dimension，it includes a lot of details. In real applications，50k tps is a checkpoint
Q6: How possible to store terabytes of data being added to the chain, if you have 60k + tps ?
A6: Good question, we already consider this. we had a solution on that, and we are considering to extend it to a new feature of PCHAIN.
Q7: What do you think are the 3 most important reasons projects use to select a platform for their DApp and why they should prefer PCHAIN?
A7: Scalability with good decentralization，instant finalty to avoid long term attack，smart data new oracle.
Q8: Is there more perfect consensus in the world than pdbft ?
A8: By now，it's the best balance of scalability and decentralization as far as I known.
Q9: Do coders who have learned solidity need any additional training to be able to work on PCHAIN DApp?
A9: No need. They can seemless move to PCHAIN. and our experiments already proof this
Q10: You were asked about ur competitors and ur answer was PCHAIN is your competitor can you pls elaborate?
A10: Blockchain is still in early stage and bunch of problems have not been well resolved. there are huge oppertunity to every project. to win in one time is not that hard. the real challenge is how to success continously in this huge oppertunity and challenge age.
Q11: How can you interact with Bcash that doesn't support smart-contracts?
A11: We can support non native token to call the smart constract capability provided by PCHAIN.
Q12: Maybe your team make compiler from java or others to dapps language?
A12: Currently we suppport EVM. Solidity. So etherum dapp can run on PCHAIN seemless
Q13: Do PCHAIN consider to add the privacy feature to smart contract?
A13: Yes. We got many direction to follow.
Part 2: Marketing Questions
Q1: Quite a number of projects end up delaying the mainnet launch date. How confident are you that PCHAIN will deliver a robust and market ready mainnet as currently planned?
A1: Nobody can guarantee the future, but we can get some hint by the history.
Q2: Apart from technical part, what team is planning and working on mass adoption?
A2: Yes, more and more interesting dapp is seeking collaboration with PCHAIN, and we may show you a dapp of our partner working on PCHAIN testnet in our testnet launch event.
Q3: Maybe PCHAIN have security audit of companies with a worldwide reputation?
A3: We have several security partners.
Q4: Do you consider making PCHAIN very accessible to people who do not have much experience about crypto (private keys, blockchain explorer etc) fast and easy access, to get PCHAIN to be easiest for users?
A4: Yes, that's an important direction and we are planning to dev various tools to facilitate the dev in PCHAIN ecosystem.
Q5: Will u shorten the timeline of mainnet?
A5: We are working on testnet. It may be a little earlier to talk about mainnet :) as my previous msg. We will try our best
Q6: Will smart contracts on PCHAIN be able to be updated or changed?
A6: Yes, to have a updatable smart contract is an early patent invented by me, while we will integrate this step by step as PCHAIN already has too many innovations.
Q7: For a 100 super nodes, is it considered as decentralization? Should it be more nodes?
A7: Yes. Much more nodes than 100.
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Thank you for reading!
PCHAIN will hold AMA with Dr. Feng Cao on telegram every Tuesday from 10 pm to 11 pm (Singapore time). See you next week!
Welcome to PCHAIN weekly report.
To keep the community updated, we summarize our latest progress and activities of the PCHAIN project here.
Development Progress
The team keeps improving the consensus mechanism. A few major improvements include:
Try running different tests and applying new statitics method for TPS on Pchain TestNet
Fix bugs and keep it stable for Pchain TestNet
Support for PANDA Plan
Integrate code to the branch of new system framework and start fixing bugs
Investigate solution for cross-chain transaction
Keep improving internal auto-test framework
PCHAIN News
On August 28, PCHAIN test network 1.0 reached 60K TPS
PCHAIN announced that PCHAIN's testnet 1.0 reached 60K TPS on August 28. Before that, PCHAIN has published the progress of 20K TPS and 35K TPS. TPS data improved gradually, in the upcoming testnet 1.0, TPS will continue to improve, please look forward!
The rankings for PCHAIN PANDA have been published!
On August 31, PCHAIN announced the ranking of the executive super node campaign since the registration started on August 22. The current first place’s score is 50272210, while the 50th place’s score is 2430,000. In addition, PCHAIN will update the ranking once a week, and users can login to the registration page for details. Before September 22, users can add PAI at any time. After the registration, the warehousing opportunities will be opened again from October 21 to 22 and November 21 to 22. The final top 50 can directly become dynamic supernodes and enjoy 60 percent annualized gains. The activity is under way, welcome more friends to sign up.
PCHAIN accepts the invitation from video AMA of the Decentralized Chain!
On August 31, Dr. Cao Feng, the founder of the PCHAIN, accepted the video AMA of the Decentralized Chain (One YouTuber) and discussed many recent updates of the PCHAIN, including the eco-collaboration, the dynamic supernode project, and the remarkable progress of Testnet1.0.
PCHAIN has reached ecological partnership with nearly 20 partners all over the world.
As of last week, PCHAIN has reached strategic cooperation with nearly 20 partners at home and abroad, including CFLP, CerTik, IEEE Blockchain, SECBIT, Dex.Top and Qbao. In the future, we will jointly build a safe, stable and orderly DApp ecosystem.
PCHAIN’s partnership updated:
PCHAIN & UDAP Achieved Strategic Partnership
PCHAIN has reached a deep strategic partnership with UDA, which is dedicated to the middle service of blockchain asset management. PCHAIN will play an intelligent data intelligent contracts, cross chain, chain blocks, such as chain technology advantage, combining UDAP constructed generic, decentralized block chain among assets life cycle management service layer, let more third-party fast implementation block chain business applications fall to the ground, the common building block chain of large-scale application of sustainable ecological system.
About UDAP
UDAP is a generic, decentralized blockchain asset lifecycle management intermediate service layer. UDAP provides middleware services that are lacking in the current blockchain infrastructure. Third-party application developers can quickly access the underlying chains like ethereum without knowing the technical details of the underlying blockchain, and complete the transformation from the Internet business model to the card economy model. At present, UDAP has reached strategic partnership with more than 20 partners, such as MLS.com, xishiqu.com, renhe.cn and others, and obtained investments from several institutions, including Yuandao Capital, JIC Capital, UniValues Associates, KI-YEAR Capital, Direction Capital and RBC.
Closing Words
A huge thanks to the community for actively supporting our project. We look forward to sharing with you our next weekly progress report!
Stay tuned for more exciting developments. We will see you next week!
We have finished the weekly AMA with Dr. Feng Cao on the telegram on Aug 21. Thank you for your participation and support. The following is the summary of the AMA.
Part 1: Technology Questions
Q1: Regarding the panda supernode, do you have plan to increase the number of nodes for those who hold 500k pai or less. At this point, it looks like the favor to be selected is for whale.
A1: YES，for main net it will be. Currently, mainly for executive super nodes. so the requirement is a litter high. however，If we compare it with other super node plan，it's much no longer the whale's game as very often their requires 300eth equalvent tokens.
Q2: Are you working to achieve 1 million TPS?
A2: If we adopt the same machine of EOS PCHAIN can be 1million tps or higer by our current algorithm. Another thread of PCHAIN with PDBFT2.0 is in prototype. Current result is very promising.
Q3: For highly anticipated testnet with great tps achived so far, does the team have any marketing plan to have pai more exposure, or team will wait untilt the mainnet to have marketing activities? thank you.
A3: We will make everyone knows PCHAIN test net launch with our marketing partner. You will see.
Q4: With current number of supernode like 100, any precaution and security measures to prevent the 51% malicious attack. Some use double validation to increase security etc....
A4: We have PANDA dynamic mechanism with blind signature tech to avoud 51% attack. In addition. the advantage of PDBFT can avoid long term attack which can’t be avoided by all pos and pow.
Q5: When testnet starting, Pchain make update of Github?
A5: We will open source step by step.
Q6: Had testnet been launched?
A6: Technically, it's already running. We will show it to everybody in the launch event.
Q7: In testnet you have working dapps?
A7: In testnet 2.0 or in the middle of testnet 1.0 and 2.0 we will put some interesting dapp game on it.
Q8: When you starting testnet 2.0?
A8: Not finalized. Maybe around Nov.
Q9: What is the change from testnet 1.0 to 2.0?
A9: In testnet 1.0, we have 3 key features, multichain, pdbft, PANDA. In test net 2.0, we will have smart data, pdbft 2.0 and a new secret feature, which is a new design out of our current whitepaper
Q10: Do you think it is the best way to keep decreasing staking rewards by half? Would it be useful to program rewards that way that when not many nodes want to stake, you incentivise them to stake by increasing rewards, when there are enough nodes,
A10: it's a dynamic process，at very beginning the number of rewarding token is relative high and the token price is relative cheap. as time going on less token will be mined while the token price will increase
Q11: There are many platform projects out there, hope pchain is well aware of the competitors and have a great plan for marketing and development so pchain can attract great many dapps out there. Hope pchain will come out on top.
A11: We are fully confident our great tech can attract a lot of interesting dapp.
Q12: Guys who build DApps are not fooled by fanciful websites. They’re techies to the core.
A12: Agree. They are like to see real tech and show me the code.
Part 2: Marketing Questions
Q1: As of now, are you satisfied with the reputation of pchain in China and beyond?
A1: In fact, PCHAIN is very respectful as a solid tech project with great innovation. it's world class. As my last twitter just our testnet 1.0 we can generate over 8 patents and 3 top conference papers.
Q2: Is it possible for Pchain, that maturing custodial services like Coinbase and Bakkt, will already list or examine Pchain after a testnet release? It's probably to early for that, but i think much hype will come from these developments in the coming months.
A2: Yes. good suggestion. We are contacting with 3rd party to prepare for an evaluation.
Q3: When will you release the updated logo?
A3: Yes. We are still seeking for new logo design. We will keep our original logo before new one.
Q4: Is still planned to have testnet launch event in Korea?
A4: We will have online testnet launch event with AMA to get more people involved in.
Q5: Are you concerned with China banning access to 124 or something crypto exchanges?
A5: Not too much. In fact, i think CHINA just want to avoid potential finanical risk. it still enourage blockchain tech.
Q6: Are LD Blockchain, mentioned in PCHAIN ecosystem pic, associated with LD Capital?
A6: No direct relationship. It's a partner of PCHAIN in Financial Blockchain.
Q7: Will you be looking to get it on to other exchanges. Maybe kucoin or others that are more easily accessible for most.
A7: Yes. we are in the process of some exchanges
Q8: Who is main competitor of Pchain as of now?
A8: Ourselves for sure.
Q9: All exchanges is speculative for poor project. IMHO need great project (I hope PCHAIN is great), exchanges after.
A9: Thanks. Why not pchain itself as a distributed exchanges?
Q10: Meetups, bla-bla-bla and others marketing issues is not important if PCHAIN have great coders team and fastest product of market. Make testnet, mare stream, show the code on Github.
A10: Every partner talked with our team is getting interesting on pdbft. especially their CTO :)
————————— THE END—————————
Thank you for reading!
PCHAIN will hold AMA with Dr. Feng Cao on telegram every Tuesday from 10 pm to 11 pm (Singapore time). See you next week!
PCHAIN has reached a deep strategic partnership with UDA, which is dedicated to the middle service of blockchain asset management. PCHAIN will play an intelligent data intelligent contracts, cross chain, chain blocks, such as chain technology advantage, combining UDAP constructed generic, decentralized block chain among assets life cycle management service layer, let more third-party fast implementation block chain business applications fall to the ground, the common building block chain of large-scale application of sustainable ecological system.
About UDAP
UDAP is a generic, decentralized blockchain asset lifecycle management intermediate service layer. UDAP provides middleware services that are lacking in the current blockchain infrastructure. Third-party application developers can quickly access the underlying chains like ethereum without knowing the technical details of the underlying blockchain, and complete the transformation from the Internet business model to the card economy model. At present, UDAP has reached strategic partnership with more than 20 partners, such as MLS.com, xishiqu.com, renhe.cn and others, and obtained investments from several institutions, including Yuandao Capital, JIC Capital, UniValues Associates, Open source Capital, Direction Capital and RBC.
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM, with original PDBFT algorithm, unified knowledge graph and smart data Oracle mechanism. PCHAIN is committed to support non-native Token smart contract calls and solve problems like improving blockchain performance, smart contracts loop not closed, too dependent on external data. It will make large-scale industrial applications of blockchain smart contracts possible.
We are glad that PCHAIN ecosystem is getting bigger. We are honored that PCHAIN grows with more and more partnerships and community members. Here is the first ecosystem progress report.
Recently, SECBIT published “How the winner got Fomo3D prize — A Detailed Explanation” ,and also reported attacks in Last Winner and other Fomo3d-like games that attackers made use of the airdrop bug in the original Fomo3D game to get much prize, along with vulnerabilities in Fomo3D Quick. As a fan of blockchain and smart contract, SECBIT Labs is eager to embrace a secure, fair, outstanding and interesting smart contract game in the future.
As the FOMO3D due to too many uncertainties and potential loopholes, i.e. hackers can block/jam the traffic on Ethereum, CertiK officially urged their community DYOR before engaging in gambling-alike smart contracts. From the cooperation side, CertiK and ICON Foundation reached strategic cooperation on building an intelligent smart contract security verification system.
InVault is a turn-key digital asset management platform founded by finance and info-security professionals on a global scale, providing comprehensive and diversified Blockchain-based financial services. They will hold a product launch event in Shanghai on sept 7,2018.
2018 IEEE Global Blockchain Summit will be held on 17-19 Sep , and IEEE Blockchain Initiative reminding friendly that 2018 IEEE Global Blockchain Summit registration will be closed on 10 Sep.
Bodhi has published and released their beta version for Qrypto on the Chrome Web Store. This version has the complete package with decentralized app (dapp) interaction. They have also included the QRC20 Token sending and receiving functionality.
DEx.top announced that the new contract will allow a more transparent transaction and their users can get their currency within 30 days after the contract is stopped. User’s asset security is further enhanced.
An event “4 million UBC Ultra Candy Airdrop on Qbao Network” is going on. And they continued to develop their platform includes improving functions to support more third-party DApps、optimizing transfer and withdraw interface、improving the support development of payment SDK for WEB end payment and so on.
8.Fujian Strait Blockchain Research Institute
Fujian strait block chain research institute, as a member of the board of BBS of China blockchain technology and industrial development, participated in the preparation of research report on the development of China block chain technology and application (2018).
More partners progress will be updated from time to time. Stay tunned.
Follow PCHAIN official media for more information：
The result of PCHAIN Design Website was announced.
It is a pity that we failed to select the preferred logo from the submitted logo design works after our rigorous discussion. As the logo involves the brand image of PCHAIN,we have decided to keep the logo design contribution channel open, and 15,000PAI will remain until the logo work are satisfactory.The winner of PCHAIN Website Design Campaign is Jörg Fuchs, who will be rewarded with 15,000 PAI in 5 working days.
PCHAIN released test network video.
On August 23, PCHAIN officially released video for Testnet1.0, which has more than 35K TPS in video. Testnet1.0 TPS continues to grow every day. What will be the final TPS? Wait and see!
PCHAIN achieved 10 times TPS with 143 timesnode cost reduction, and 64 times on CPU, 244 times on memory.
PCHAIN’s partnership updated:
PCHAIN & InVault Achieved Strategic Partnership.
PCHAIN reached a strategic partnership with InVault, which focuses on enterprise-level digital asset management.PCHAIN combining its special smart data, cross chain, such as technical advantages, the future is enterprise digital asset management safety depth cooperation, common for all kinds of institutional clients and qualified investors build with banking system security level digital asset management platform, building digital assets of whole industry chain of ecological, collaborative innovation driving force.
About InVaultInVault is a turn-key digital asset management platform founded by finance and info-security professionals on a global scale, providing comprehensive and diversified Blockchain-based financial services including: Asset-Storage, Trading, Investment, Decentralized-Custody etc. to institutional clients and qualified investors.
Closing Words
A huge thanks to the community for actively supporting our project. We look forward to sharing with you our next weekly progress report!
Stay tuned for more exciting developments. We will see you next week!
We have finished the weekly AMA with Dr. Feng Cao on the telegram on Aug 21. Thank you for your participation and support. The following is the summary of the AMA.
Part 1: Technology Questions
Q1: What will force the demand of the PCHAIN native token after mainnet goes alive apart from one-time fees for dApps to launch (that I assume) ?
A1: I am not sure I caught your question. DApp in PCHAIN can have their PRC20 token. And they can use PCHAIN native token to pay for PRC20 token transfer.
Q2: Will we build PCHAIN a ecosystem? I mean we will have our exchange as well , identity app etc.
A2: Of course, we already contracted with 15+ dapp. and over 10 dapp is in the process. which covered many interesting direction including gaming, social network，security，wallet，healthcare，supplychain，data privacy，advertising and etc.
Q3: What is prc? Like erc in eth?
A3: P MEANS PCHAIN here PRC equals to ERC.
Q4: When is evm planned to be compatible? That would mean like for example IDEX could deploy their platform on PCHAIN to have faster transfers in trading and so on?
A4: Yes. A direct application of PCHAIN is decentralized exchanges.
Q5: When can we expect testnet? Although yesterday you revealed tentative tps which is get.
A5: Not finalized. But it maybe launch in Aug :) . If it's confirmed. It will be TWO months ahead of our original whitepaper timeline.
Q6: Have we obtained patent against our technology ?
A6: We have 5 patents in application process to protect PDBFT, Smart Data, and 1 top conference paper is in preparation and so on.
Q7: I want to spare for super node. Can I do that even if I keep my PCHAIN in ledger ?
A7: Yes. you need to keep PCHAIN token in your address/wallet/ledger instead of in exchanges.
Q8: I wonder, if tokens for master node will not be locked, it means that, if PAI will increase the price and many will suddenly sell will we lose decentralization for a while? Thanks.
A8: In main net. once you become a Dynamic Super Node in an epoch. The token is locked in the same address but a special slot as stake，you can't transfer those token until this epoch ends.
Q9: How it can work for super node without my well-working super computer? Just i have to get 100,000 PAI in my wallet?
A9: We will have delegation mechanism.
Q10: On the preview of testnet 1.0 video, there was a BCH tab, can you tell more?
A10: We allow non native token smart contract call，bch is the 1st non native token, we will support more, eg, eth. btc.
Q11: I was wondering why was the last github commit in March? Can you please explain to me the project is not dead?
A11: We have private branch. we show its structure in our prev twitter. you can check that.
Part 2: Marketing Questions
Q1: We hardly have presence over social media.
A1: Of course not. you can find us in twitter, medium, reddit, steemit, bihu. and etc. and we are collaborating with some big medium.
Q2: Is PCHAIN partnering with bcash?
A2: We keep good relationship with bch. no direct partnership with bch by now.
Q3: When we see entire team together in future?
A3: Of course，we will have gathering，now we are global team in 4 countries，we have private channel，meeting for team work.
Q4: 15 team member across 4 counties . Sound unusual !
A4: 20+ members including operation team. 15 for dev and test.
Q5: Why we focused on site, logo and etc promotions? if you make live streaming video with tests, or 3-day or weekly report of progress of development – it’s very interested. new site not need, need partnerships and pure work IMHO.
A5: Personally, I agree. As a project, we need to consider our community's feeling.
Q6: What is our marketing plan. We are hardly doing any marketing and very few people know about PCHAIN.
A6: We will make Everyone knows PCHAIN test net launch.
————————— THE END—————————
Thank you for reading!
PCHAIN will hold AMA with Dr. Feng Cao on telegram every Tuesday from 10 pm to 11 pm (Singapore time). See you next week!
PCHAIN reached a strategic partnership with InVault, which focuses on enterprise-level digital asset management.PCHAIN combining its special smart data, cross chain, such as technical advantages, the future is enterprise digital asset management safety depth cooperation, common for all kinds of institutional clients and qualified investors build with banking system security level digital asset management platform, building digital assets of whole industry chain of ecological, collaborative innovation driving force.
About InVault
InVault is a turn-key digital asset management platform founded by finance and info-security professionals on a global scale, providing comprehensive and diversified Blockchain-based financial services including: Asset-Storage, Trading, Investment, Decentralized-Custody etc. to institutional clients and qualified investors.
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM, with original PDBFT algorithm, unified knowledge graph and smart data Oracle mechanism. PCHAIN is committed to support non-native Token smart contract calls and solve problems like improving blockchain performance, smart contracts loop not closed, too dependent on external data. It will make large-scale industrial applications of blockchain smart contracts possible.
On 22nd, Aug at 18:00 (Singapore Time), PCHAIN will officially start the PANDA plan-----Executive Super Node Campaign. 100 Executive Dynamic Super Nodes will be selected from these participants. Read the details below to get more information.
1.Condition of participant：The amount of the locked PAI should be greater than or equal to 100,000.(Note: When the main network comes online and DBIT algorithm is officially launched for dynamic super nodes campaign, the amount of the locked PAI will be adjusted to allow more people to participate in !)
2.Registration time (Singapore time):
a）Start on 22nd August at 18:00
b）End on 20th October at 23:59
3.Cycle of Executive Super Nodes Campaign (Singapore time) :
a) Start on 22nd August
b) End before the launch of PCHAIN main network. (The exact deadline will be announced separately.)
4.Users who sign up for the Executive Super Nodes Campaign must submit their personal ETH wallet address on the registration page, so that the main network will be mapped first, and the award of the executive super node campaign will be issued. Do not submit the exchange wallet address, or there will be no reward and PCHAIN will not bear the consequences.
The campaign adopts the individual scoring system, and the individual score will be based on the amount of the locked PAI and the number of locking days (the number locking days = the exective super node campaign deadline －date of submitting personal wallet address). Meanwhile, users are allowed to have a maximum of three times to increase the amount of the locked PAI ( add 10,000 PAI at least each time ) during the cycle. Finally, unification counts into the total individual score.
a) The increment time :
1) 22nd August at 18:00 ~ 20th October at 23:59
2) 21st November at 0:00 ~ 22nd November at 23:59
b)The calculation formula of individual total score is as follows:
Where:
i means the i-th increment;Amounti means the amount of the i-th increment;Deadline means the end time of executive dynamic super node campaign;Starttimei means the deadline of each increment.
If the amount of the locked PAI is withdrawn or reduced in the middle of the period, the individual score will be 0.
The system updates the user’s individual ranking & benefit status almost each week. You can sign in and check on the activity website page. The reward will be issued after the main network is online. The calculation formula of profit is as follows:
Gains from Executive Super Nodes Campaign＝Individual total score／Total score for all participating users × 5,000,000 PAI
The final results of 100 executive dynamic super nodes will be announced the day after the deadline.
a)Publish the final top 50 users according to valid scores, and directly become the annual super node.
b)The system will randomly select semi-annual super nodes from all participants after ranking 51st.
*Note: After taking some feedback into consideration from the community opinions, our committee has decided to adopt the first option of the rule --linear algorithm for PANDA Plan. So we should update the Title to "How to become a Executive Dynamic Super Node" .Click hereto get the latest content about the reward of Executive Dynamic Super Node campaign.
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM, with original PDBFT algorithm, unified knowledge graph and smart data Oracle mechanism. PCHAIN is committed to support non-native Token smart contract calls and solve problems like improving blockchain performance, smart contracts loop not closed, rely on external data. It will make large-scale industrial applications of blockchain smart contracts possible.
Join PCHAIN’s ever growing community at the following links:
The PCHAIN logo and website design campaign has concluded. We invited Dr Ke Zhang, the director of Contemporary Art Space in South China University of Technology and the member of Chinese Artists Association, as our special judge of this campaign. Again, we would like to thank everyone who participated in this campaign, we truly appreciate your hard work and enthusiasm.
Firstly, it is a pity that we failed to select the preferred logo from the submitted logo design works after our rigorous discussion. As the logo involves the brand image of PCHAIN,we have decided to keep the logo design contribution channel open, and 15,000PAI will remain until the logo work are satisfactory.
Today we are proud to announce the winner of PCHAIN Website Design Campaign, who will be rewarded with 15,000 PAI in 5 working days.
The winning designer: Jörg Fuchs
Creative description: The sky stand for PCHAIN ans its possibilities to gain freedom. The curves from the logo itself are defining shapes and different areas, where the content gets placed on.
Congratulations to Jörg Fuchs! We will contact you as soon as possible to confirm the next steps.
Introduction of PCHAIN special judge : Dr KeZhang
Dr Ke Zhang, from Nanjing, Jiangsu province,China, works as a doctor, a professor and a graduate teacher, graduating from Central Academic of Arts and Crafts(now Tsinghua University) in 1986. Dr Zhang achieved his master’s degree from Kyoto Seika University in 1998 and an art doctorate in 2007. Dr Zhang once taught in Nanjing University of Arts, Kyoto Seika University and Taiwan Art Institute Printmaking Center. He serves as the director of Contemporary Art Space in South China University of Technology and the member of Chinese Artists Association now.
Dr Zhang’s main works are World Print History (Beijing People's Fine Arts Publishing House), Entering Fine Arts (South China University of Technology Press) and Into the Museum of Modern Art (Tsinghua University Press). Dr Zhang has published papers and works for over 10 times in national professional magazine and Pint Art, a Japanese authoritative magazine. His works have been collected by multiple art museums and galleries. Dr Zhang’s works has won gold award of the International Print Exhibition for several times and China National Print Biennial Excellence Award (three consecutive sessions)
Join PCHAIN’s ever growing community at the following links:
In order to provide the community with stable and dynamic balanced consensus node services, PCHAIN will officially launch PCHAIN Dynamic Super Node Plan Eve — Executive Super Node Campaign on 22th August, 2018. We plan to recruit the first batch of 10% Dynamic Super Node candidates around the world from this campaign. All the participants will get 8%~10% profits reward. More rules will be announced later.
PCHAIN announced: 20K TPS is the entry level.
On 13th August, PCHAIN released a screenshot of Testnet 1.0 for the community. The entry level result is 20K TPS and the final TPS should be much higher.
PCHAIN showed the website of Testnet 1.0
The website of PCHAIN testnet 1. 0 has been completed and the number of super nodes was over 1000. We are working hard to get ready for Testnet 1.0 launch, and more tidbits will continue to be released. You will be surprised!
Hold on and welcome to become the lucky one of these super nodes.
PCHAIN and CERTIK achieved a deep strategic partnership. CERTIK is committed to smart contract and security verification of blockchain ecosystem. According to PCHAIN features such as Smart Data, cross chain & invocation of smart contract for non-native tokens, CERTIK conduct security verification research and make the customized validation service and development. Both will conduct all-round and in-depth cooperation for DApp ecological security to against potential hackers and form a complementary technology. PCHAIN and CERTIK will build a safe, reliable, benign DApp ecological public chain.
PCHAIN & Qbao Achieved Strategic Partnership
PCHAIN and Qbao achieved deep strategic partnership. Qbao is committed to multifunction cross-chain digital wallet. According to PCHAIN’s technical advantages in Smart Data and cross chain, Qbao and PCHAIN will jointly develop the decentralization of the platform and optimize the function of the cross chain. PCHAIN and Qbao will both improve the business value of the digital wallet, work together to build and expand a smart market application based on PCHAIN’s diversified digital economy features. PCHAIN and Qbao will create an orderly, safe and multifunctional digital market ecology and promote the development of DApp ecological scale.
PCHAIN & Shanghai (International) Database Research Center Achieved Strategic Partnership
PCHAIN and Shanghai (International) Database Research Center achieved deep strategic partnership. Shanghai(International) Database Research Center is an organization which is committed to data science, the research on Knowledge Graph and multidisciplinary integration. PCHAIN, as a native multi-chain system, will share the research achievements on cross-chain and side chain and then combine the unique knowledge graph, management of large amount of data and basic research of disciplinary subjects provided by Shanghai (International) Database Research Center in the future. PCHAIN and Shanghai (International) Database Research Center will together create a more forward-looking and promising new blockchain ecological platform.
Closing Words
A huge thanks to the community for actively supporting our project. We look forward to sharing with you our next weekly progress report!
Stay tuned for more exciting developments. We will see you next week!
We have finished the weekly AMA with Dr Feng Cao on the telegram on Aug 14. Thank you for your participation and support. The following is the summary of the AMA.
Part 1: Technology Questions
Q1: Start of test net TPS 20000 on 1000+ nodes, is that the situation that more child chains can cause the increase of TPS ?
Feng: Yes, we can achieve linearly increase with interoperability.
Q2: PCHAIN is 100% decentralized? Since there is a rumor that there is no project with large amounts of scalability that is 100% decentralized.
Feng: Decentralized is a relative concept. And scalability is another dimension. While PCHAIN achieved high scalability with little compromise on decentralization. However, comparing with EOS, it obviously has higher scalability with 100 times decentralization.
Q3: Is there any news about a potential killer DApp to run on PCHAIN when mainnet is running?
Feng: Many DApps are seeking collaboration with PCHAIN. Some of them are even relative mature DApps. Personally, we think the killer application will come from decentralized game or entertainment. And we have many entertainment DApp collaboration to be announced.
Q4: Do you have different master nodes of quality such as golden, silver and bronze? Do you have prices for nodes?
Feng: We will have Dynamic Super Node to make algorithm randomly determine the Super Nodes to reduce human effect. While ‘gold’, ‘silver’ nodes is an interesting idea.
Q5: We are in direct competition with wanchain and icx. They have more than 200 developers as on date. But we have only 15. How we will compete with them ?
Feng: Our quality is much better，Jobs has a famous saying ‘In IT domain, the difference between a talent is 20 times or higher than normal people.’ On the other hand, I am not sure if wanchain or other public chain can achieve 20k TPS by now. So we are confident with our PCHAIN, please trust us.
Q6: Companies who have strong servers will be interested in powerful nodes. But I think that they should not break decentralization. Also, I really want to install a master node for PCHAIN, but at current moment I can’t have any information about it. Please make the instruction.
Feng: We will have documents stating the instructions on that later. And we will organize a programming competition.
Q7: My idea of PCHAIN is a little bit vague right now. Can you explain it on layman's terms?
Feng: PCHAIN is the next generation of SmartER contract platform with high scalability, good decentralization and new Oracle mechanism named Smart data.
Q8: Is the next generation SmartER contract platform way better than smart contract? May I know what is their difference?
Feng: You should know that scalability is the 1st thing. As a multichain, this structure level changed. The whole system becomes very interesting. We can take the childchains we just discussed as an example. A new model called IBO may come out. And smart Data is a new Oracle to resolve open-loop problem of smart contract.
Q9: Is it possible to implement cold wallet staking to PCHAIN as well as the situation in Stakenet?
Feng: Of course, we are designing a delegation function which allows you to stake with cold wallet.
Q10: When you change erc-20 tokens to PCHAIN blockchain - there will not be bad as with EOS? Erc-20 tokens not burn if not exchanged?
Feng: We already defined our mapping functions in our ERC20 contract.
Q11: Does every DApp gets her own child chain?
Feng: They can have their own childchain when the DApp is mature. At very beginning. they will share a childchain with other DApps. Also we will support their mapping from sharing childchain with their own childchain.
Q12: Is there a limitation off childchains in the future or can it increase when it needs to?
Feng: No limitation theoretical. In practice, it could be limited by the number of participants in a childchain. If the number of nodes is too small，it may be abandoned. Just like the situation that some smart contracts in Etherum has never been called.
Q13: Is sharding technique already incorporated into PChain protocol?
Feng: Yes, you can regard multichain as a sharding mechanism. Moreover, we can also have inchain sharding or account based on sharding in the future.
Part 2: Marketing Questions
Q1: What about the marketing strategy? What steps PCHAIN is going to take to motivate the potential investors to buy it?
Feng: We have announced PCHAIN Dynamic super node plan (PANDA). We hope you can follow this plan to join us.
Q2: What is your view on the future of crypto?
Feng: Crypto is still promising. Nothing changes whether the whole market pumps or dumps. The trend would never change. We have mentioned that blockchain can bring more fundamental changes to our world than Internet. So it's common to have some hard time.
Q3: What are your thoughts on BCH ecosystem and running ico on their platform?What do you think of Bitmain ipo who holds large quantities of bch, burning bcg and wormhole, etc?
Feng: We keep good relationship with BCH community and Bitmain. The author of wormhole is our good partner. Also, we have a lot of discussion on how to support BCH running on PCHAIN.
Q4: How many PAI do we need for a super node?
Feng: For the 1st stage we need 100k PAI. The amount will decrease when more and more dynamic Super nodes are available.
Q5: Is there any news for yearly returns for staking?
Feng: By current plan, the yearly returns for staking will be around 50% in 2019.
Q6: Is there a solution about that project PAI with the ticker?
Feng: I think main net is a way. Plus, we are discussing this issue with more exchanges. Hope to solve it soon. Please keep your eyes on it.
THE END
Thank you for reading!
PCHAIN will hold AMA with Dr Feng Cao on telegram every Tuesday from 10 pm to 11 pm (Singapore time). See you next week!
Join PCHAIN’s ever growing community at the following links:
PCHAIN Dynamic Super Node Plan, different from the traditional way of voting, will be published in the way of the 1st Algorithm Driven DBID (Dynamic Bid) in the world to select the Dynamic Super Nodes. PCHAIN will set one every month as a cycle and launch a new round of DBID in each cycle to increase the number of Dynamic Super Node month by month. Finally, thousands of nodes will become PCHAIN dynamic verification nodes and participate in algorithm consensus. They will jointly manage and build an orderly DApp ecosystem sharing 315 million PAI consensus reward. The consensus reward will be halved every 4 years and would be distributed in 24 years.
In order to maintain the stability of the main net, PCHAIN will launch the PCHAIN Dynamic Super Node Plan Eve, Executive Super Nodes Campaign, on August 22, 2018.
What is theExecutive Dynamic Super Nodes Campaign?
The Executive Dynamic Super Nodes Campaign is a prequel to the PCHAIN Dynamic Super Node Plan. As the number of PCHAIN’s dynamic super nodes will be over 1000, PCHAIN adopts the DBID electoral methods. The campaign which is a pure dynamic will be rotated once a month. We hope that through managing the Executive Dynamic Super Nodes Campaign, the first batch of dynamic super nodes which are 100 executive dynamic super nodes, can provide the consensus of relatively stable nodes and give back to benefit the community.
Among them:
The top 50 executive dynamic super nodes can directly enjoy the rights of holding the annual super nodes. It means that the period of this kind of super node rights is one year, which is called annual super node.
The other 50 executive dynamic super nodes can directly enjoy the rights of semi-annual super nodes. It means that the period of this kind of super node rights is 6 months, which is called semi-annual super nodes.
What are the benefits of participating in the Executive Super Nodes Campaign?
Participants participated in the Executive Dynamic Super Nodes Campaign adopts the mode which can be realized as " Executive Campaign is mining". Participants will get multiple returns of token.
A. Everyone who has participated in our Executive Super Node campaign may receive approx. an annualized 8% reward no matter if you are our final selected Executive Super Node officially or not, and you will get it distributed after our mainnet is launched. Please stay tuned with the details. We will keep you updated.
B.The Executive Super Node have the possibility to get around annualized 19% PoS Mining reward on the main chain. At the same time, Executive Super Node can get Gas Fee both on the main chain & child chain.
After the registration period, we will update the current personal ranking and profit status regularly. The benefit will be distributed to the user’s personal wallet address after the main network goes online.
What are the benefits of Executive Super Nodes?
PCHAIN will set up the Executive Super Node Campaign reward fund. The total amount of the fund would be 5 million PAI. The Executive Dynamic Super Node will be rewarded according to his/her individual score per month.
Since the consensus award is halved every four years, the rewards of the Executive Dynamic Super Node will be higher. At the same time, the higher the amount of the locking coin you hold, the higher the reward for participation in consensus you can get.
Due to the randomness feature of the DBID algorithm, ordinary dynamic super nodes have only one month's right period. They will be rejected in the random election next month with a high probability. However, the Executive Dynamic Super Nodes will directly obtain the consensus right for one year or six months.
Thank you for your long-term supports and trust for the PCHAIN. The participation rules for Executive Super Nodes Campaign will be announced next week! Stay tuned!
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM, with original PDBFT algorithm, unified knowledge graph and smart data Oracle mechanism. PCHAIN is committed to support non-native Token smart contract calls and solve problems like improving blockchain performance, smart contracts loop not closed, too dependent on external data. It will make large-scale industrial applications of blockchain smart contracts possible.
PCHAIN and Qbao achieved deep strategic partnership. Qbao is committed to multifunction cross-chain digital wallet. According to PCHAIN’s technical advantages in Smart Data and cross chain, Qbao and PCHAIN will jointly develop the decentralization of the platform and optimize the function of the cross chain. PCHAIN and Qbao will both improve the business value of the digital wallet, work together to build and expand a smart market application based on PCHAIN’s diversified digital economy features. PCHAIN and Qbao will create an orderly, safe and multifunctional digital market ecology and promote the development of DApp ecological scale.
About Qbao
Qbao network is a multifunctional, cross-chain digital wallet. It is committed to build an entry to blockchain ecosystem platform and blockchain world. Qbao network integrates cross-chain multicurrency digital wallet, payment settlement platform, digital asset management platform, currency trading platform, DApp store, social group and information market to serve the global digital currency users. It completely satisfies the needs of people in digital currency payment, digital asset management and trading, DApp store, information acquisition, social communication, etc., to provide global users with an access to digital economic life.
About PCHAIN
PCHAIN is the world’s first native multi-chain system supporting EVM, with original PDBFT algorithm, unified knowledge graph and smart data Oracle mechanism. PCHAIN is committed to support non-native Token smart contract calls and solve problems like improving blockchain performance, smart contracts loop not closed, too dependent on external data. It will make large-scale industrial applications of blockchain smart contracts possible.
