About FessChain

FessChain dares to improve the shortcomings of blockchain so that the obstacles in the road of mass adoption can be minimised. Fesschain is disrupting the sluggish transaction methods with the fess blockchain powered by Neutrino Framework. The unique technical architecture ensures most optimum block space utilisation and thus dumping the undesired data and improves TPS with every passing transaction.

Basic Information

Rise of bitcoin

Off late, a Visionary and founder of the world’s first cryptocurrency, Satoshi Nakamoto introduced the concept of peer to peer(P2P) electronic system. This P2P was running on a decentralized network, thus mitigating the existence of a centralized authority. Blockchain seemed to be the perfect solution to several big woos related to electronic transactions. One could transfer anything of value over the blockchain, and also store it in a secure and immutable manner, thus making it virtually impossible to damage or tamper transactional

records.

Scope of improvement

Every invention has one thing in common, and that is the NEED, and blockchain is no different. Cryptography is an old method of securitization and used heavily in the World war ear. Though the same technology is no more relevant today and for the same reason, it has been upgraded over time. Blockchain was another addition in this upgrade, and the credit of introducing it to the common public goes to bitcoin. Though the periodic update was not enough and impregnated three significant issues.

Features

Security

Transactions and data recording within the blockchain are a function of the network. A

network is usually vast, with hundreds and thousands of nodes working together -verifying,

authenticating, and recording data. Such a colossal setup develops voids making it vulnerable to cyber-attacks. In technical understandings, it is known as the 51% attack.

Thus, if any entity within the network gets hold of more than 50% of the system by simply

tweaking a couple of codes, then the entire purpose of decentralization is lost.

Scalability

One of the primary concerns of blockchain application in the mainstream is its scalability. In the blockchain, data is being recorded in blocks. Every block has a specific limit of data holding capacity. Once this limit is reached, complex mathematical calculations reveal a hash with the help of which the block is being sealed, essentially making it tamper proof. The hash of a previous block is interlinked with the data to be recorded in the next block. This characteristic strengthens the irrefutable nature of blockchain.

Speed

Continuing from the previous point of scalability, transactional speed is an equally essential concern, which needs to be taken care off the same time. The whole essence of electronic transaction is to carry out dealings between entities, in a comparably quicker and secured manner over the lethargic legacy systems. Due to heavily overburdened networks, transactional speed faces a significant blow which only gets slower with the passing time.

Benefits of proof of proof

FESS, on the other hand, is combining Proof of Proof methodology with AI and basic features of sharding into a new blockchain. Fesschain verifies every block with blocks mined on the Bitcoin blockchain and/or the timestamp of each transaction recorded within the block, thus deeming itself practically unhackable. Even if someone hacks in blockchain, the very next block verifies back and returns where the original verified block was mined.

A true utility

Fesschain’s Fess coin is not the only utility to use. Fesschain is designed in a way so that it can provide featured safety to record off chain data and supply chain mechanics to benefit both the organized and unorganized sectors. It has a regulatory framework to record any off-chain data through KiFi. It is an Algorithm demonstrating and converting any through put operating machine into operational nodes by using only 1% of its CPU power.

Video

https://youtu.be/-SkqAV7uH8g

Team

Member Durga Prasad Tripathi Founder & Global CEO Praveen Kumar Sahani Co-Founder, COO Abhishek Pandey Marketing, Business Development

Quote This article is writing on 19 July 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- +13098896258

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