A Preliminary Analysis of PCHAIN, the New Intelligent Contract Platform, which is a complementor of RSK
Official website: https://pchain.org/
RootStock (RSK), a smart contract platform that was proposed to serve the bitcoin ecosystem as early as 2015, tries to integrate the advantages of the ethereum with bitcoin, which generated a huge response in the industry. Today the RSK project is still in full swing, but its new complementor, PCHAIN, is also emerging.
Dr. Cao Feng, the inventor of the 1st International Blockchain patent in China, introduced the PCHAIN project in public for the first time at Tencent’s annual black technology Party on February 3, 2018. Dr. Cao is also the Co-Founder of ChinaLedger, Senior Fellow of the China Blockchain Research Alliance, and he Chief Scientist and Co-Founder of Blockchain Application Committee in China Federation of Logistic and Purchasing (The 1st Gov Association in Industry). He and his team have successfully accomplished the 1st blockchain-based assets earning rights transfer in the world in September 2016, which is also the 1st Financial Blockchain Transaction in China.
Cao Feng (the founder of PCHAIN) introduced PCHAIN
at the Tencent’s black technology Party
Does PCHAIN really have the power to improve RSK? In fact, PCHAIN stands on the shoulder of the giant. Dr. Cao had an interview with the founder of RSK, Diego, about the details of the RSK project as early as February 20, 2016. Maybe Dr. Cao has already seen the new development direction of the smart contract platform in this exchange, so he has been closely following the progress of the RSK project in the past two years. At the same time, he has been considering a new intelligent contract platform, PCHAIN, which is more perfect and fits the needs of the development of the blockchain.
The group photo of Dr. Cao (left), the founder of the PCHAIN, and Diego (Right), the founder of the RSK, on June 20, 2016
PCHAIN is a new kind of original multi-chain system, and the unique scientific layered design enables the large-scale industrial application of the blockchain smart contract to actually fall on the PCHAIN.
The famous root chain, RSK, is the first open source intelligent contract platform anchored by bitcoin, and the miners are rewarded with joint mining to encourage their active participation in the intelligent contract revolution.
In the past two years, we have witnessed the development of the RSK project and the strength of the RSK team. It guarantees the same security as bitcoin through joint mining, expands the trading capacity of bitcoin far beyond the current state and makes the instant payment even faster. The contribution made by RSK is truly shocking and exhilarating. RSK dug out their founding blocks at 1:41 a.m. CST on January 4, 2018, which means that this project, which is highly anticipated by all of us, has successfully embarked on its own path.
Unlike the single-stranded structure considered by RSK, PCHAIN has not only one main chain, but also multiple derivative chains. PCHAIN, which is compatible with the current ecology of the Ethereum virtual machine EVM, is a native multi-chain system based on the side chain and is a cross - chain such as Bitcoin, Ethereum, BitcoinCash and many other public chains. Each derivative chain is a single blockchain registered on the main chain and the resources provided by the main chain serve the function. The main chain and the derivation chain have clear division of labor, which can effectively reduce the burden of main chain and improve the overall performance of the system. In other words, PCHAIN’s native multi-chain system can no doubt support larger transactions than other intelligent contract platforms that consider only one main chain.
In any case, everyone hopes that the blockchain technology can move in a better direction. We are looking forward to the development of the RSK and we hope that PCHAIN can really become the better RootStock. Thus, the entire coinage can flourish under these diverse and innovative technologies, and ultimately bring more surprises and rewards to us.
Official contact information of PCHAIN: