Hello, Color supporters!
What do you think is the most important thing for a blockchain platform to maintain a sustainable ecosystem? Today, the Color team would like to introduce five features that set Color apart from the rest.
#1: ‘Prism’, A Parallel Consensus Algorithm
- Comprehensive Block Builder selection process that is randomized and cartel resistant
- Speed enhanced and energy reduction by decreasing data chatter to reach consensus
Color’s consensus is a leagued parallel BFT algorithm that leads agreement of 7 continents and 49 Block-Builders. There are mainly two benefits. First, there is a comprehensive Block Builder selection process that is randomized and cartel resistant, making it difficult to determine who will build the next block. For instance, in the case of EOS, people know which Block Producer will make the next block. Therefore Block Producer could become the target of malicious hacking attempts. Second, the Color Platform brings speed enhancements and energy usage reduction by decreasing the data communication amount needed to reach consensus. You will be able to check the technical details with the upcoming blog post after the yellow paper is published.
#2: Pixel Program, Color Coin Issuance Program
- Network Effect Driven Referrals
The Pixel Program encourages a fair distribution of tokens and the ongoing use of tokens. Platform users receive five pixels per day, and Pixels will in time, convert to Color Coin. The Pixel Program accelerates attracting new users and boosts token circulation. It promotes the gift economy and achieves the network effect.
Whitepaper Explained② — All About the Pixels (Updated on July 24, 2018)
So by now if you’ve read our Whitepaper you’re probably wondering, “OK, Pixels sound interesting, but how do they…
#3: ‘Color Coin’, A Global Single Currency
- All dApps accepts one single currency, COL
The Color team is creating a unified coin that will be usable across all dApps in the ecosystem. This means that even though projects on Color can launch their ICOs and have their own token, the dApps will always be able to be used with Color on the platform in one way or another. In addition, we will leverage partnerships with existing successful applications and transition them to the blockchain world.
#4: ‘Color Pay’ The Unhackable Hardware Payment System
Not only will this payment system be resistant to most hacks, but payments will settle instantly without a third party and even be available offline.
Color Pay In Action
Last time we’ve introduced the safe way to pay and reliable wallet, Color Pay. We’d like to give you examples of it in…
#5: ‘Color Spectrum’ Parallel Data Processing Technology
- Blockchain Data Separated from App Data
The Color Spectrum gives the ability to split the data needed for repetitive service processing and blockchain data in its dApp Development Kit. As a result, we have significantly reduced costs such and fees for developers and users of apps. Not only that, but a friendly development environment where you can easily take advantage of cloud storage and blockchain processing will be seamlessly integrated into the developer experience.
Have any questions? Send us an e-mail at email@example.com and stay connected with us through our Telegram channel.
Have a Colorful Day :)
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