Signups are now open for PANDA Plan, a dynamic super node activity initiated by the PCHAIN team. PANDA Plan is drawing a lot of attention thanks in part to the PCHAIN test net which has been advanced to September 2018 with the official release of version 1.0. In the latest published video, the version 1.0 test net has already demonstrated a throughput of 60,000 transaction per second (TPS), and it is expected to be even higher on the release date.
PCHAIN is the first native multichain system in the world supporting the Ethereum Virtual Machine (EVM), which enables the large-scale application of blockchain. PCHAIN has received strategic investment from more than 20 top-level global funds such as FBG, LD Capital, China Creation Ventures, BlockVC, and LinkVC. PCHAIN is not only a partner of the North America Blockchain Association (NABA) but is also ranked second on the World Blockchain Top List by multiple overseas blockchain rating institutions. PCHAIN also received the Silicon Valley’s “Most Promising Blockchain Foundation Platform 2018” award and was hailed as the “Best Blockchain Platform in 2018” by Bitcoinist.
PCHAIN was founded by renowned senior experts including a National “Thousand People Plan” professor, a Singapore Presidential Awards winner, a former IBM Greater China Blockchain Technical Leader, and a Co-Chairman of the Patent Council. In total, the team has published 100 IEEE ACM papers and international patents. Moreover, PCHAIN scientists participated in the compilation of Ethereum Technology Details and Practices, which is openly recommended by Vitalik Buterin, the founder of Ethereum.
What are the Technical Advantages of PCHAIN?
- PCHAIN is the first native multichain system in the world supporting EVM where main chains and child chains have good interoperability. Compared with the hardware requirements of traditional projects, the server costs using PCHAIN are reduced by 143 times, while CPU power and memory access are increased by 64 and 244 times, respectfully.
- The innovative PDBFT consensus algorithm effectively reduces the communication cost from N2 to N. Meanwhile, in contrast with the traditional DPOS algorithm, the efficiency is improved by 12 times while the decentralization degree is improved by 100 times. PDBFT has instant finality so that it avoids long-range attacks.
- The PCHAIN dynamic super node is the first proof of stake (PoS) reward system with pure dynamics that reduces the Matthew Effect, improving the fairness and stability of the overall system.
- Smart Data, a new Oracle mechanism based on the knowledge graph makes it easier to encapsulate smart contract, addresses issues where there is only internal knowledge of smart contracts.
- The PCHAIN smart contracts can be easily invoked with other non-native tokens (BCH, ERC20) on other chains by using the toolkit provided by PCHAIN.
What are the reasons behind the PANDA super node activity?
The executive super node campaign is the eve to PCHAIN’s dynamic super node system. There will be more than 1,000 PCHAIN dynamic super nodes and the method of dynamic bid (DBID) will be adopted in order alternate the nodes each month based on the bidding results. This is done in a purely dynamic fashion by removing human factors. Through the executive super node campaign, the first 10% of dynamic super nodes (100) will be selected to provide the community with consensus services that offer both stability and dynamic balance.
A “Executive Bidding Mining” mode is adopted for the executive super node campaign in which participants can enjoy a maximum of 10% annualized returns. The participant who wins and becomes one of the executive dynamic super nodes will share 50% of the consensus rewards. Simply put, since the consensus rewards of the PCHAIN dynamic super nodes halve every four years, becoming a executive dynamic super node will enable users to receive higher rewards early on. Moreover, the more coins that are locked up, the higher the consensus rewards are. Ultimately, the highest rewards can reach 60% in annualized returns.
The bidding sign-up for executive super nodes ends on September 22nd, 2018 and the activity itself will last until March 2019 when the main network is launched. Anyone holding more than 100,000 PAI can sign up. During the registration period, people can add PAI anytime and after registration, there is also 2 times to add PAI. But the minimum amount of per adding is 10,000 PAI. The system will rank personal scores based on the amount of tokens locked up multiplied by the number of lockup days, and the top 50 participants will become annual super nodes and be rewarded with one year of consensus rights. Another 50 nodes will be randomly selected from the remaining participants and be nominated as semi-annual super nodes, with rewards corresponding to these consensus rights.
To sign up for the bidding process, please visit: supernode.pchain.org
Learn more details of the activity at:
For more information, please follow the official PChain channels:
Telegram 1: https://t.me/pchain_org
Telegram 2: https://t.me/pchain_org2
Telegram (Chinese Community): https://t.me/pchain_CN
Telegram (Russian Community): https://t.me/PCHAINRussia
Telegram (Germany Community): https://t.me/pchain_org_de
Telegram Announcement Channel: https://t.me/pchain_org_ann
Founder/CEO’s Twitter: https://twitter.com/jeff_fengcao