• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
PChain — the Best Thing to Happen to Crypto in 2018?
Nexo

PChain — the Best Thing to Happen to Crypto in 2018?

Bitcoinist by Bitcoinist
4 years ago
in Press releases
0
Advertisement

Enough has been written and spoken about how exciting of a project PChain is. The hype has been through the roof. But how many people really understand what PChain is doing? What’s the hype all about? Why is it better? Let’s dive in from a different perspective. This is not another ICO review. So, here we go…


Why is it even called PChain?

It’s very well thought out actually. According to the founder Dr. Feng Cao, here are some of the meanings of the letter “P”:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Pi (PChain) — Forms a foundation for a lot of math formulas and problems along with cryptography.

Parallel — To make blockchain more scalable, parallel design is important.

Poly — Polychain (Poly means many) or multi-chain design.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Partitioning — A term that has been used in databases forever. A more fancy word these days is “Sharding”. It’s nothing but partitioning data into small chunks.

Public — Public-chain.

History of PChain

Dr. Feng Cao, the founder of PChain is also the Co-Founder and Chief Scientist of FinChain, a Blockchain Financial Services company. He’s also the inventor of the 1st International Blockchain patent in China. He has Co-Founded ChinaLedger, one of the first initiatives in China for Blockchain. He is the Chief Scientist and Co-Founder of the Blockchain Application Committee in China Federation for logistics and purchasing. Dr. Feng Cao and his team also successfully connected 8 major Chinese banks via blockchain. They wrote smart contracts which have processed about 600 million RMB (Chinese currency) between these banks. So, Dr. Cao has been preparing for almost 3 years to work on a project like PChain. Solidity is a very new language and there are not many people with more than 1 year of experience. Dr. Feng Cao and his team have about 3 years of Solidity experience which is very rare in the world today.

What is PChain?

Before we discuss PChain, let’s get some basic definitions clear.

EVM — The Ethereum Virtual Machine (EVM) is a simple but powerful virtual machine that allows anyone to execute arbitrary.

Multi Chain — It is a blockchain which consists of one main chain and multiple derived chains.

Sharding — It is nothing but partitioning.

Knowledge graph — Graph-based representation of knowledge base.

PCHAIN is the first, native multi-chain system that supports EVM in the world.

Most of the traditional blockchain systems (Ethereum, Bitcoin) are single-chain systems. It has encountered performance and scalability bottlenecks in large scale blockchain applications. In a multi-chain system, communication between each derivative chain is not required in most cases. Therefore, computation in these derived chains can be completely parallel resulting in a huge improvement in throughput.

As smart contracts or dApps are deployed on PChain, multiple side-chains will be created (one per dApp) in addition to the main chain, which will record data related to that specific dApp. This will allow PChain to scale and avoid hungry dApps from crushing overall performance (hello, Kitties!). This will also improve performance because of transaction-level sharding with a PoS consensus mechanism.

Knowledge Graph means intelligence derived from a list of things, their type, properties, and how they are linked. PChain uses an Oracle mechanism based on its Knowledge Graph module to integrate blockchain data and external data as Smart Data, which can be used by AI to generate some interesting use cases for forecasting markets, social networks, digital identities and so on.

People are just starting to realize how good this technology is. Partnerships are in the pipeline with a consortium of 11 Chinese commodity exchanges, equity exchanges, and financial asset exchanges, the government mandated China Federation of Logistics & Purchasing (CFLP) and many more.

Some strategic partners are:

Comparison with other ongoing projects

Multiple applications have already agreed to be built on the PChain blockchain, with many more in the pipeline.

So far we have talked about how PChain is amazing and could potentially be a groundbreaking project. But, how does it stack up against other blockchain projects trying to accomplish similar things? The table below is self-explanatory:

As you can see above, PChain is definitely set to accomplish more than most other blockchain projects who are trying to resolve the issue of scalability and take crypto forward.

Conclusion

So, does PChain live up to its hype? It absolutely does! PChain is truly a technological breakthrough in the crypto world as the first multichain solution to be compatible with EVM. This will allow PChain to operate at a level of speed and scalability that other blockchains cannot compete with. It also offers the first solution that will be able to sustainably serve large scale industrial applications of blockchain technology.

This is probably the best project that is underway in the crypto world at the moment! With a rockstar CEO in Dr. Fen Cao, and his incredible experience backing him, we do not see any reason why PChain won’t rise to the top of the crypto world!

PChain Website: https://pchain.org PChain Telegram: https://t.me/pchain_org


Images courtesy of PChain

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

LBank Exchange Will List IX Token (IXT) on July 7, 2022

LBank Exchange Will List IX Token (IXT) on July 7, 2022

15 hours ago
Tron (TRX), Shiba Inu (SHIB) and Big Eyes (BIG) – Are Three Cryptos To Put On Your Watchlist

Tron (TRX), Shiba Inu (SHIB) and Big Eyes (BIG) – Are Three Cryptos To Put On Your Watchlist

15 hours ago
Was Dan Peña Right That Bitcoin (BTC) Is Dead? Small, Quality Projects Like Gnox (GNOX) Look To Be New Crypto VC Haven

Was Dan Peña Right That Bitcoin (BTC) Is Dead? Small, Quality Projects Like Gnox (GNOX) Look To Be New Crypto VC Haven

23 hours ago
LBank Weekly Listing Report, 4th July 2022

LBank Weekly Listing Report, 4th July 2022

1 day ago
Chimeras Launches Open Alpha Version of Metaverse Game

Chimeras Launches Open Alpha Version of Metaverse Game

2 days ago
With Over 60% Gains, There’s Plenty Left To Run For Gnox (GNOX). Will New Regulation Spell The End For Dai (DAI) And TrueUSD (TUSD)?

With Over 60% Gains, There’s Plenty Left To Run For Gnox (GNOX). Will New Regulation Spell The End For Dai (DAI) And TrueUSD (TUSD)?

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.