In 2008, a person named Satoshi Nakamoto published an article Bitcoin: A Peer-to-Peer Electronic Cash System. In 2009, Bitcoin’s main network was launched and started to produce blockchain. Blockchain technology stood out in the Bitcoin network. By 2019, blockchain technology has developed rapidly for more than ten years. It is about to reach the rising inflection point of the Gartner curve, and its technical characteristics and wealth effects have attracted widespread attention worldwide.
From PoW’s Bitcoin to the widespread popularity of consensus mechanisms such as PoS, BFT, DPoS, PoC, today’s blockchain has developed to the third generation. So how can it be considered as the third generation blockchain technology, and which can be called the third generation blockchain? A deep web public blockchain named XEROX OVUM will be recommended here, which is referred to as the XO public blockchain.
Blockchain technology is indeed a very good technology. Its anonymity, cross-border, decentralization and other technical characteristics have been widely favored by top talents around the world. The XO public chain is a large-scale social experimental project initiated by a global distributed community composed of geeks without borders, cryptographic experts, economists, technology developers, and third-generation blockchain technology enthusiasts. It is also known as the Deep Web Blockchain. What are the characteristics and advantages of the XO public blockchain?
The XO public blockchain (XEROX OVUM BLOCKCHAIN, or the parent cell replication fission public chain) means that it can replicate and evolve itself like a living thing, forming a consensus ecology that can encompass everything. XO public blockchain’s borderless geeks and experts independently developed the PoA (Proof of Alternate) algorithm. Compared with other blockchains, it has fast transaction speed and does not need to consume energy, which can effectively prevent Double Spend Attack and 51% Attack. The “Impossible trinity” of efficiency, security, and decentralization is perfectly balanced.
The working mechanism of the XA public blockchain PoA algorithm is to randomly and cross-select the packer of the transaction, and the same node cannot continuously pack and sign, and after the blockchain is produced, the next 6 blockchain producers will verify it. Efficient operation also guarantees safety. At the same time, the XO public blockchain is the master of the first and second generation blockchains, and it is effectively compatible with technologies such as segregated witness, lightning network, smart contracts, and sidechains and subchains.
The measured performance of the bottom layer of the XO public blockchain has reached 2500 TPS, and it has been able to achieve second-level transfers. With the help of lightning network, the linked matrix and sharding technology, it can even process millions of transactions per second. The on-blockchain storage of the XO public blockchain supports common formats such as JSON / Text / Hex. The maximum on-blockchain storage can reach 64M. It can also achieve up to 2G off-blockchain storage through distributed storage. The smart contract system of the XO public blockchain is also highly developed. It can not only support Turing’s complete programmable independent development, but also template universal smart contracts. At present, functions such as “one-click creation of digital assets” have been launched.
During the development of the second generation blockchain, there has been a blowout of public and alliance blockchains. Each blockchain is like an information island, and the XO public blockchain solves this problem through cross-blockchain technology. The XO public blockchain has independently designed a set of Cross-Chain Protocol (CCP). The multi-blockchain two-way anchoring technology is used to achieve communication and transactions with other blockchains. At present, it has achieved cross-blockchain sharing with the Bitcoin main network, and other public blockchains will be availbale. At present, BTC has been able to have a second-level payment experience in the XO public blockchain, and the mining fee is less than one thousandth of the original.
The technical characteristics and high-quality performance of the XO public blockchain determine that it can become an infrastructure in the field of blockchain. Developers can quickly create digital assets and develop DApps. This will enable the XO public blockchain to evolve into an application ecology, and then play a role in the fields of culture, finance, logistics, chain merchants, charity and so on. Especially in cross-border payments and cross- blockchain transactions. Based on the XO public blockchain, developers can complete within three steps. It provides a variety of optional consensus mechanisms, more than 50 blockchain custom parameters and more than 200 API interfaces for DApps developers. This series of measures shows that the XO public blockchain is a representative of the third generation blockchain. It not only integrates the technical advantages of the first-generation blockchain and the second-generation blockchain, but also achieves major breakthroughs in blockchain technology and cross-blockchain integration, which is expected to lead the next decade.