Beijing, China – April 2, 2018 – TrueChain, a global blockchain company dedicated to providing an open source platform for decentralized commercial applications, is set to lead blockchain technology development in the coming months. With the rollout of its new PBFT-POW hybrid consensus protocol, the company’s signature technology is sure to be the future standard for the commercial use of blockchain. TrueChain combines its hybrid consensus with a product grid that allows enterprises and developers to operate on TrueChain’s infrastructures and to easily manage Dapps or decentralized applications.
In addition to creating cutting-edge technology, the Beijing-based company has also been busy establishing its thought leadership around the world for the coming era of Internet 3.0. With more than 100 national leaders from China, South Korea, Japan, the U.S., Australia, and Europe, in attendance at the 2018 TOKENSKY Blockchain Conference on March 14, 2018 in South Korea, Larry Lin, co-founder of TrueChain, shared his predictions for the future of the blockchain industry with experts, academics, and legal professionals. Lin’s keynote speech provided insights into the core technology of the Fourth Industrial Revolution – the blockchain and token economy: “The real industry-level commercial application and implementation require blockchain as a basic support. That’s why we chose a more pioneering yet fundamental field.”
Larry Lin’s History of Blockchain
In Lin‘s view, the blockchain industry has gone through three phases: The first phase, related to digital and financial assets, has been the Bitcoin phenomenon. In the second phase, smart contracts began to appear, as well as blockchain-based derivative applications like Ethereum. In the third phase, blockchain technology has begun to be utilized in the business world and it is in this third stage – Blockchain 3.0. – that TrueChain is working to become the industry leader.
While Larry Lin visiting Seoul, another co-founder of TrueChain, James Cheng, attended the APAC Blockchain Summit in Sydney and Melbourne, Australia from March 9 to 16, 2018. At this leading international conference developed in partnership with the Australian Digital Commerce Association, Cheng participated in a series of dialogues with government and academic leaders to introduce the “TrueChain hybrid consensus solution to the world”. Fresh off his presentation at the One World Blockchain Alliance in Davos, Switzerland during the World Economic Forum on January 24, 2018, Cheng demonstrated the strength of TrueChain‘s approach in blockchain and the commercial use of this important step in Internet 3.0.
In late March at “The Voice of Consensus”, the Blockchain Technology Application Spring Summit in Shenzhen, People’s Republic of China, Larry Lin further illustrated the future application and development of blockchain technology. As a strategic partner of the Summit, Lin said “the future of the blockchain competition is ‘community of consensus.’ The real blockchain is the Internet of Everything in which everyone is the center. Everyone can independently operate certain operations and behaviors, and each person follows the common principles on the basis of fairness and justice. The confidence through consensus can guarantee a perfect fruit of the cooperation mechanism in the future operation. It is the power of the mechanism.”
TrueChain co-founder and Chief Technology Officer Eric Zhang further elaborated: “We are expanding our research and engineering team in the U.S. and globally and at the same time building a large developers community for a worldwide commercial Dapp ecosystem. TrueChain’s approach is transnational and transformative for the next phase of the world wide web.”
TrueChain: Leading Blockchain’s Cutting-edge Technology
While TrueChain continues to demonstrate its leadership on the international conference circuit, the company’s technology development is also in progress. TrueChain is the world’s first hybrid consensus public blockchain which combines PBFT and POW protocols with clear security assumptions. TrueChain is able to solve one of the most important issues in the blockchain industry: decentralization and performance/scalability.
The PBFT protocol guarantees the performance needed for value distribution and commercial applications, while the hybrid consensus guarantees TrueChain is a public chain. With requirements from commercial applications in various industries, TrueChain prioritizes “performance, stability and usability”. It is the only open platform for real-world businesses to build serious and trusted decentralized applications. Usability allows enterprise developers to manage contract life cycle in a completely new environment. The compatibility feature allows TrueChain to integrate with existing web and mobile applications easily.
TrueChain’s PBFT protocol was completed on March 25, 2018 and its first release was completed on April 1, 2018. The TrueChain hybrid consensus will be released in summer of 2018 with its main network, completing the early work to establish the company’s new public blockchain platform.
TrueChain’s Team: Providing Commercial Solutions in a Global Perspective
TrueChain’s technology team is led by world-class hackers, researchers, and engineers from outstanding institutes around the world. TrueChain’s research team is focusing on the frontier of “hybrid consensus” design and development, aiming to solve the most important problem of public blockchain: the conflict between decentralization and performance.
TrueChain’s growing global reputation has been greatly benefited from an international team of professionals and business executives. The TrueChain team has rich experience in digital marketing. Both co-founders of TrueChain, Larry Lin and James Cheng, have more than 10 years of digital advertising experience.
TrueChain has established an operation center in the U. S, which is led by Professor James Cooper, the Director of International Legal Studies Program at California Western School of Law in San Diego, U.S.A. TrueChain’s Director of Global Public Relations and Communications Tanya Yang has more than 10 years of senior management experience in public relations, government relations, and strategic planning. In addition, Li Xiong, one of the consultants and key investors behind TrueChain, is the founder of Chainfor. Prior to this, Li Xiong founded three blockchain service platforms: soso btc, ico 365, and ico live.
TrueChain: Ready for Global Leadership
TrueChain’s product grid enables users and businesses to publish and manage the full lifecycle of smart contracts in a quick and easy manner, including the Steller-TrueChain contract lifecycle management platform, Dapp Warehouse-TrueChain decentralized application warehouse, TrueScan Explorer and TrueChain Light Wallet. In short, TrueChain makes blockchain technology convenient to use, fully scalable, and commercially effective for both large and small businesses.
TrueChain co-founder Larry Lin summed it up perfectly: “Our ultimate goal is to lead the new generation of blockchain – building up a fair and transparent business ecosystem in the blockchain world.”