Blockchain technology -

Blockchain technology began with Nakamoto's Bitcoin. It’s a peer to peer cryptocurrency system. The combination of finance and technology is called Fintech and the core of Fintech is the blockchain. The blockchain has dramatically increased the efficient distribution of digital assets and made self-financing possible. Blockchain is decentralized network, which means no single entity controlling it. It’s safe and secure way of transferring money to one person to another.





Ethereum took a next step and expanded Bitcoin's capabilities and intended to provide a blockchain with a built-in fully-fledged programming language for writing smart contacts. Ethereum opened a new blueprint for the restructuring of a variety of industries. Ethereum runs a smart contract based on the Solidity language that serves as a platform for writing and deploying DApp.





Problem -

It took lot of time for people to realize the importance of blockchain, but now it is the fastest growing technology in the world. But we all know how fast technologies are changing in 21st centuries, its not like what it was in 20th century when one technology was running for decades without change, or upgrade. Its not the case now. When blockchain started, the TPS requirement was not that high, as the technology was new to the world, not many people were using it. However, people realized that blockchain is the future and now every business wants to use blockchain technology. Because of this number of transactions increased and it started affecting the blockchain performance now it’s taking hours to complete the transaction over blockchain. This is not the only problem with existing blockchain, blockchain systems for smart contracts are facing major problems such as lack of cross-chain functionality, means communication between two different blockchain is not possible, it is creating compatibility problems for smart contract data.

Another problem is, insufficient support for large-scale transactions. If we look at the social media platform which in based on centralized platform can support 100s of thousands of transactions per seconds, compare to current blockchain which support TPS in double digit only, making it difficult to run DAPPs properly. The current blockchain is still far from the most mainstream social applications. Just few months back a DApp congestion caused the system not to work properly. Existing blockchain do not support modification or upgrade. Since the data saved on the blockchain (including the codes of smart contracts) cannot be modified, in theory, the smart contracts that have been deployed are not easy to change.





Solution – PCHAIN

Single blockchain architecture will not be enough or useful now, The PCHAIN Network is a new infrastructure level public chain system with native support for multi-chain applications and EVM which provides an open, scalable platform for third party developers in the industry. PCHAIN makes large-scale enterprise applications based on smart contracts possible. Multi-chains technology effectively divides the original structure of single-chain into different/multiple blockchain and it increase the performance of the blockchain. PCHAIN’s trunked cross-chain solution makes the exchange 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





The goal of PCHAIN Smart Data is to generate valuable data that filters out noise and make it an integral part of Oracle. These smart data can be used in various smart contracts and another 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. Therefore, it has a vast application prospects, including decentralized question and answer, forecasting markets, the building of distributed knowledge graph social networks, digital identities and others.





As per as TPS is concerned, PCHAIN supports 100000+ TPS. I know there are many other new blockchain claiming that their blockchain supports 100s of thousands of TPS, but when it comes to PCHAIN, 100000+ TPS is not a just random number but a proven fact. During the testnet PCHAIN recorded 123,424 TPS. Which is close to Facebooks TPS of 175000.





PCHAIN token (PAI) currently listed at various exchange and current token price is 0.017698 USD per token, market cap is 13,128,448 USD. Total number of token supply is 2,100,000,000 and circulating supply is 741,806,114





For more info on PCHAIN – please visit their official channels

Telegram https://t.me/pchain_org

Website https://pchain.org/

Medium https://medium.com/@PCHAIN

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

Twitter https://twitter.com/pchain_org?lang=en

Whitepaper https://pchain.org/js/generic/web/viewer.html

Steemit https://steemit.com/@pchain







