Pchain

The first native multichain system that supports EVM in the world

[Short general description]: PCHAIN is a new system with native support for multi-chain applications, making  it  possible  for large-scale  enterprise  applications based  on smart  contracts.

 

[Main problems tackled]:

1) The  first  native  multi-chain  architecture  that  supports  EVM,  with  a  consensus of POS based on multi-layer sharding mechanism that tremendously improves the performance of transactions. 

2) A new Oracle mechanism based on the knowledge graph makes it easier to encapsulate smart contracts.  PCHAIN's endogenous W3C-compliant smart data effectively addresses the issue of non-intelligence in smart contracts and can become a fundamental element of smart contracts, just like the market exchange rate data from the external. 

3) The goal of PCHAIN Smart Data is to generate valuable data that filters out noise and make it an integral part of Oracle.  These smart data can be used in various PCHAIN's smart contracts and other cross-chain requests. Smart data, on the one hand, can serve as an intermediary between blockchain and articial intelligence, and on the other hand, facilitates the integration of blockchain with big data. Therefore, it has a vast application prospects, including decentralized question and answer, forecasting markets, the construction of distributed knowledge graph, social networks, digital identities and others.

4)  The trunked cross-chain solution makes the exchange of digital currency and digital assets more convenient.  Various Token (e.g.  BCH, ERC20) can be directly used to invoke smart contracts in PCHAIN.

 

[Main contribution proposal]:

In response to the defect of single-chain method which supports smart contracts, a multi-chain approach is proposed to improve the support for DApp. The multichain approach has a new structure of a main chain and multiple side chains. 

When you create a new DApp (e.g.  a new smart contract), a side chain will be created : 

1) Invocation of Smart Contract for Non-native Token - When the toolkit provided by PCHAIN, which is  used  on  other  blockchains,  invokes  the  smart  contract  of  PCHAIN  with  a certain  number  of  Tokens  in  this  blockchain,  the  exchange  rate  between  the Token  and  PCH  (Token  of  PCHAIN)  will  be  acquired  by  the  toolkit firstly through  the  smart  data  in  Knowledge  Graph.   When  the  convertible  PCH  is enough to run the called smart contract, the toolkit will transfer corresponding number of Tokens to PCHAIN and consume the corresponding quantity of PCH of PCHAIN to invoke the smart contract. 

2) Consensus of Sharding - PCHAIN supports Shardings at different levels and offers a choice of POS consensus mechanisms to improve the efficiency of operation and storage and support chain expansion.

3) Knowledge graph and Smart data -PCHAIN  writes  standard  RDF  triples  into  the  built-in  blockchain  knowledge base to form Smart Data.  The goal of PCHAIN Smart Data is to generate valuable data, lter the noise of the data, and become an element of the smart contracts Oracle.

4) Supporting EVM - EVM completes the logic of business and takes control of all instructions and thus to resist malicious code logic. While making reasonable and transparent calculations of costs of calling smart contracts by implementing Turing complete Solidity. 

 

[Innovation]: PCHAIN is the first blockchain that supports Smart Data, based on which knowledge graph is formed and smart contract can be executed within a closed loop. Every  DApp  has  its  own  chain  tha makes  it  easy  to  browse  and restore transactions.

1) Supporting large-scale transactions - When the accumulation of transactions of multiple DApp results in a large overall scale, the scale of the corresponding side chain is relatively small.  Now every  side  chain  grows  itself  without  affecting  the  main  chain  and  other  side chains. When the scale of transactions of single DApp is large, the computing power of  the  whole  network  focus  on  the  chain  because  of  incentive  mechanism  to ensure blocks can be produced in time and transactions can be completed aș soon as possible. If there are many DApps and many transactions in each DApps, the system will be busy and it is hard to avoid congestion.  However, this situation is less likely to happen.

2) New consensus make computing parallelism - Under  the  original  POW  mechanism  of  the  public  blockchain,  every  node mines and thus there is a high probability to produce new blocks at same time. However the probability of fork also is high.  Under the new consensus mechanism, a group is formed for consensus and the probability of fork is reduced. Meanwhile, with the new mechanism, when a group reaches a consensus, intensive CPU operation is not needed anymore, which can save a lot of power.  All nodes can be divided into many small groups and each group has a consensus on one chain, which is concurrent consensus.  Besides, groups have intersection, i.e.,  a  node  may  join  consensuses  of  many  chains.   Therefore,  the  computing power is fully utilized and the growing of PCHAIN is smooth. 

3) Supporting smart contract update - supports upgrade of smart contract through the methods above.

4) High fault tolerance - In  construction  of  PCHAIN,  main  chain  just  records,  and  errors  will  not occur  in  theory.   When  some  error  happens  in  a  side  chain,  main  chain  and other side chains are not a affected and only corresponding side chain needs to be corrected.

5) Expansibility -  It is easy to deploy a new DApp with expanding a new side chain.  Under the consensus mechanism, the growing of new chain does not cause much burden.

ICO Rating Analysis
Product
3.67 / 5.00
Token Economics
5.00 / 5.00
Hype and media presence
3.00 / 5.00

Analysis

Team - Founders:
Are the founders known? Do they have relevant experience and connections?
4
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
?
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
5
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
4
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
2
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
5
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
5
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
3
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
5
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
5
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
4
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
?
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
3
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score
?

Team

Member
Feng (Jeff) Cao
Vision & Science
Steven Lv
Architecture
Frank Ma
Blockchain Storage and Optimization
Kevin Zheng
In-memory Data Management
Zhihong Chong
Knowledge Graph
Zhenjie Zhang
Query Speedup and Indexing

Advisors

Updates

Title
Published at
The scientist builds “China’s Ethereum 2.0”, PCHAIN
9 months ago
Dr. Feng Cao: PCHAIN multi-chain principle.
9 months ago
A Preliminary Analysis of PCHAIN, the New Intelligent Contract Platform, which is a complementor of RSK
10 months ago
Dr. Feng Cao of PCHAIN invited to attend the first Nobel Heroes Day at Hong Kong and Guangdong-Hong kong-Macao Bay Area Finanical Forum
8 months ago
News | Dr. Feng Cao was invited as the keynote speaker in “Blockchain Applications and Booming Frontier Forum” held by CBN
8 months ago
Historical Analogy between Brexit & the DAO and Public Blockchain on Consensus, Fork, Decentralization and Security
7 months ago
PCHAIN Statement
6 months ago