HONGKONG, China, June 17, 2019–LinkChain Tech, a technological innovator in the realm of Blockchain, Cloud Computing and Big Data Service, today releases the LinkChain White Paper. LinkChain is committed to be the world’s first commercial blockchain, which provides efficient and secure blockchain infrastructure for various application scenarios of free trade that requires shared computing and high demand of privacy. The white paper outlines the technical features and clear roadmap of LinkChain, representing a major milestone for LinkChain on its road to explore the new business model of blockchain and shared computing, as well as more business adoption scenarios.
In the world of IoT and 5G, data of hundreds of millions of smart terminals will be of exponential growth, bringing enormous challenge to the cloud computing industry. Under the circumstances, LinkChain creates a new model of blockchain and shared computing, and offers practical solutions for a highly decentralized, low-cost, privacy secured, and trusted business world, which hits the pain points of the traditional centralized cloud services represented by Amazon Cloud etc.
There are a lot of obstacles for a public blockchain to be adopted to business application, including performance, privacy security, on-chain and off-chain trust, etc. The white paper reveals that LinkChain designs Elective Byzantine Fault Tolerance (EBFT), the high-performance and strongly consistent consensus model which automatically changes the validator nodes through periodic elections. The EBFT ensures transactions to be confirmed within 1 to 3 seconds. Multi-chain architecture and Layer 2 expansion scheme will be adopted when the volume of data or transactions on one chain reaches its limit, which guarantees the infinite scalability of LinkChain.
The preliminary version of solutions to privacy protection is based on ring signature and Bulletproofs technique to realize hiding the sensitive information, such as address and transaction amount, and enhancing transaction verification in terms of consensus, multi-chain architecture, parallelism, hardware acceleration, etc. Given that there are also numerous application scenarios of public transactions, the privacy protection technique is optional.
To ensure the feasibility of the on-chain business and finance adoptions, LinkChain introduces credit scoring system and multi-asset account model, etc., and thus making it possible to build on-chain and off-chain trust.
As the original cryptocurrency of LinkChain, LinkToken is designed to be the medium in free trading scenario as well as the large-scaled shared computing ecosystem, which has been popular with over 35 million people. Being one of the most successful cases of blockchain business, LinkToken will continue to be the incentives for idle network bandwidth and storage contributions. The ecosystem based on LinkToken will continuously be committed to serve over 90% of all the Internet enterprises, and finally realize the vision of replacing the traditional cloud computing services represented by Amazon Cloud, Google Cloud etc. Meanwhile, the business value of shared computing ecosystem will be continuously invested in LinkToken system to establish a sustainable ecosystem.
To step up to business adoptions and better manage LinkChain, the global autonomous node manager recruitmentwill be initiated soon. Every node must be a real validator node, sharing the responsibilities of block packaging and validation.
About LinkChain Tech
As a leading technological innovator, LinkChain Tech is committed to technological breakthroughs and updates in the realm of blockchain, cloud computing and digital citizen construction. LinkChain is a brand new public chain created by LinkChain Tech, carrying LinkToken, LinkToken Pocket, LinkToken Mall and other businesses, committed to be the world’s first commercial blockchain, providing efficient and secure blockchain infrastructure for various application scenarios of free trade that requires shared computing and high demand of privacy.