SAN JOSE, Calif., May 11, 2019 /PRNewswire/ -- At the end of 2018, as bitcoin slipped from $6,000 to $3,000, the blockchain industry entered into a severe capital winter, lots of projects closed due to lack of funding. In February 2019, a new public chain startup named BlackPearl.Chain was established in Silicon Valley. As we all know, the capital investment required for public chain projects is huge. What kind of founder dares to challenge the limit at this critical time? Can they survive?
The BlackPearl.Chain was founded by Jack Liu and Sarah Li. Jack Liu is China's famous blockchain scientist, OKCOIN ex CTO. In a conference backed in October 2018, Jack predicted that the technology breakthroughs by public chain are coming soon.
To date, even though the BlackPearl team has been through a lot of hardship, with limited resources, they have achieved the technology breakthroughs which were predicted by Jack. According to Sarah, CEO of BlackPearl.Chain, Inc., their Testnet will be ready in Q3, 2019.
BlackPearl team has attracted a lot of attention recently. Just two days ago, Bill Kallman joined BlackPearl team as an advisor. Bill is both an entrepreneur, Co-Founder of Get Corp, of which Tim Draper is the founding investor, and a venture capitalist. Bill Co-founded timberline ventures, affiliate of the Draper Fisher Jurvetson global venture network, which backed DocuSign, among other notable investments.
BlackPearl team is actively planning an IEO at the upcoming Malta blockchain summit, teaming up with new Blockchain Exchange Globiance.
It's amazing to witness the BlackPearl team achieving this milestone after forming their Silicon Valley startup only 3 months ago. Let's take some time to review the technology breakthroughs they have achieved.
The mass adaption for blockchain technology depends on blockchain technology breakthroughs. The success of any blockchain technology depends on three main factors. The first factor is the success of public chain implementation. The second one is the ability to balance security with performance and decentralization (the blockchain's impossible triangle). Finally, one must reduce the transaction cost.
BPChain is a third-generation public chain designed by BlackPearl.Chain, Inc. that is introduced as a solution to the challenges currently associated with blockchain technology. It has unique characteristics which make it capable of striking a balance between high performance, decentralization and security, while achieving a lower transaction costs for DApp runing on it. BPChain can carry large-scale commercial applications at a relatively low energy cost. Therefore, it is affordable to industries with wide range of applications. The entire BPChain is designed from ground up. It is unique compared to other public chain models, such as Bitcoin and Ethereum. The following are some of the cutting edge characteristics of BPChain:
BPChain uses VRF lightning fast consensus, three-layer sharding, multi-dimensional routing, IPFS storage, system contract, and neuron node management.
BPChain can effectively support a huge volume of a small amount of real-time payment, decentralized digital currency trading, instant messaging, e-commerce, search, notarization, social, media, digital assets, traceability and so on.
BPChain is fully decentralized with linear expansion capability. It can support tens of millions of TPS with the increase of nodes. It is extremely secure, and resistant to quantum computation and biological computation compromise.
BPChain has made innovative breakthroughs in consensus, computing power, storage and communication. It is fully scalable, very secure, and energy efficient. Specifically, BPChain makes breakthroughs in following aspects:
- Fully Scalable with Intelligent sharding. BPChain has an innovative three-layer sharding design that completely solves trust issues between shards. It also provides asynchronous sharding consensus and inter-shards communication. The AI-capable loading balance algorithm of data collection and distribution can automatically complete sharding and merging. This feature enables BPChain's performance to exceed the performance of the centralized server. The performance of the public chain can be infinitely improved by this breakthrough.
- Secure and Fast Consensus: BPChain implements VRF lightning fast consensus. Its unique VRF implementation randomly selects current round of voting nodes achieving pioneered lightning consensus within a short time of about 0.3 seconds - 3 seconds.
- Computing power reduction: An App forms the node in BPChain system. This technology fully organizes and utilizes the global idle computing power and bandwidth that enables building of powerful computing and storage capabilities without incurring extra huge expenses on professional mining machines. Users can install BPChain wallet to participate in consensus and block production.
- Improved Network Performance: The technology has a super-routed P2P broadcasts that enable current home broadband to achieve up to several thousand Single-Shard TPS. The measured TPS peak is 5730 at current broadband conditions.