DAVOS, Switzerland, Feb. 2, 2018 /PRNewswire/ -- On January 23, the 48th World Economic Forum (WEF) opened in Davos, Switzerland. More than 3,000 people from over 100 nations attended this forum, including 70 heads of states or governments, and 38 heads of important international organizations.
The Davos Forum, i.e. the World Economic Forum (WEF) since 1971, is a non-profit organization committed to improving the state of the world through public-private cooperation. It gathers opinion leaders from all walks of life to discuss a different theme every year, in order to promote action. The theme of this year is "Creating a Shared future in a Featured World". This year, blockchain and digital currency also became top topics for discussion. Several related panel discussions were put on the agenda.
The development team of Active Energy (AEE), led by Michael Li, was invited to attend this forum, to discuss how to regulate blockchain technology innovation and digital currency with relevant experts and scholars.
AEE creates a framework to allow users to execute smart contracts efficiently, solve credibility, performance, security and other major problems in the digital asset ecology, realizing a safe, credible, open ecology. It is committed to creating the world's first public chain based on block chain smart soft and hard plug-in by abandoning the excessive pursuit of centralization, make mining safer and easier.
AEE aims to provide an extensible and resilient block chain smart application plug-in network, to support digital asset trading, data access and process control with a hierarchical structure.
AEE creates a framework to allow users to execute smart contracts in an efficient manner. It also provides an architecture for development, using the underlying infrastructure to quickly and easily generate sub-block chain. It is a block chain platform, which can provide sub-block chains with necessary components, provide solutions to the test of new ideas, the deployment of private chains, dealing with complex tasks and the application of smart contracts.
Moreover, it can integrate blockchain technology into digital products, home appliances, and even social networking softwares, online games, cellphone games and enable them to have the mining function, making mining no longer a high-cost professional work and starting an era of all-in mining.
From a pragmatic perspective, starting with a low-threshold mining approach is the easiest to implement and most acceptable by the public, making more users know blockchain and enjoy the benefits from it.
Active Energy (AEE) item design
New computational smart application plug-in.
The cross-chain new rational smart application plug-in is the foundation of Active Energy (AEE). Hash-locking is used to get rid of dependence on the notary. It's a mechanism to cash payment by locking the original value of the hash for a period of time.
Hash-locking is characterized by high performance and consistency. Based on the open, shared and connected mechanism, cross-chain trading protocol solves the problem of connectivity between chain and chain. It's characterized by cross-chain asset, privacy protection and smart contract, and can realize data flow exchange between chain and chain.
Multi-chain mutual trading model
AEE uses a UTXO + balance mode. The biggest benefit of UTXO is that the concurrent validation and arbitrary sequencing of UTXO-based transactions can be achieved, because all UTXOs are unrelated. It is of great help to the future scalability of blockchain. After years of stable running and testing, the UTXO model has many advantages in performance and security.
The balance-based design does not have this advantage. However, the advantage of the balance design is the very simple and intuitive idea which facilitates the program implementation, especially in a smart contract where it is very difficult to deal with UTXO's state. This is why Ethereum with a smart contract as the main function chose the balance design. Therefore, Aurora is compatible with two modes at the same time in the account mechanism and supports a variety of online exchanges between digital assets.
Smart device plug-in implantation
For smart devices (e.g. mobile phones, refrigerators, routers, etc.), AEE is implanted in the plug-in system. With AEE implanted, a smart bracelet will immediately become a "light miner" accessible to all people. Based on blockchain technology, the mode of POW workload proof will contribute to mining calculation when idle. If the blockchain-based DAPP running app is downloaded, one will obtain digital assets, so that one can get considerable profits while enjoying sports. The miner on the wrist will make profits while the wearer walks ,and it gets rid of the heavy burden of mainstream miners.
Taking smart phones as an example, the specific steps are as follows:
1. Download AEE smart application plug-in
2. Connect a smart bracelet with AEE plug-in via Bluetooth
3. Wear bracelet to walk, run or exercise and the system will convert the number of steps into digital assets.
4. Check the benefits in the plug-in.
The AEE smart application plug-in can bypass other mining devices and mine at a low cost. It creates a network to coordinate with the sharing of one or more ledgers and facilitates the interconnection between smart devices and blockchain systems of different properties. Efforts have been made to apply blockchain to our real traditional life, thereby improving the efficiency of economic life and reducing the credit cost.
Active Energy (AEE) node pattern's characteristics
Every smart device can be a network node of AEE, making the AEE network more stable. Compared with computer wallet mining, the characteristics of smart devices can guarantee stable continuous operation all year around without having to shut down, so it is suitable for mining. AEE can realize a more stable operating environment, preventing itself from going offline, thereby gaining more profits.
Ultra-low hardware costs: there is no need to purchase additional specialized mining devices for smart devices, greatly reducing the cost of hardware.
Ultra-low operating costs: smart devices can be used for household and mining purposes during their normal daily operation, which truly achieves the ultra-low energy consumption - the original intention of AEE.
From a pragmatic perspective, starting with a low-threshold mining approach is the easiest to implement and most acceptable by the public, allowing more users understand blockchain and enjoy the benefits from it.
SOURCE Active Energy (AEE)