Quantum Jumping: Color Leaps to the Next Paradigm of the Blockchain Platform
Have you ever heard of the expression, ‘Quantum Jumping’? Although the term originates from Physics, it has often been used to describe leaps in which are abrupt, and rather significant. People often describe a creative company that breaks the boundaries of the existing environment with innovation as a company that quantum jumps.
Color is not just a next-generation blockchain platform that has improved a bit from the existing blockchain projects. The Color Platform leaps to the next paradigm of the blockchain platform.
Then, what aspects of the Color Platform made ‘Quantum Jumping’ possible?
The first paradigm of blockchain can be divided into Bitcoin as the first generation, Ethereum as the second generation, and EOS, Cardano, Tezos as the third generation. Blockchain projects and developers have implemented creative ways to arrive at a consensus with various flavors of PoW, PoS, and DPoS, novel features, governance and reward structures, etc. However, the transaction confirmation speed is still not as fast as the existing payment system such as Visa and Mastercard, and it is not easy to commercialize the cryptocurrency payment system because there are not many users to persuade merchants to accept cryptocurrency. Besides, there are very few dApps that have amassed a significant number of users across the over 2,000 the various blockchain dApp projects. It was Bitcoin’s 10th anniversary on 31st October 2018. We should contemplate whether the blockchain is heading in the right direction.
The term ‘Paradigm’ became popular after Thomas Kuhn published <The Structure of the Scientific Revolutions>. Paradigm is a distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field. And ‘Normal Science’ is the regular work of scientists theorizing, observing, and experimenting within a settled paradigm or explanatory framework. Scientists will use existing Theorems and Laws to disprove this new Paradigm shift, and if they cannot, a new reality or “Paradigm” is born.
When people believed in the Ptolemaic system, it was the paradigm of the time and the studies supporting the Ptolemaic system were normal science. However, when Galileo Galilei and Nicolaus Copernicus suggested the Copernican system, people blamed them for denying the existing paradigm and drove them to death. As the convincing evidence that fundamentally changed the old concept of the universe was understood, the Copernican system became the new paradigm.
Then let’s apply this to the blockchain. A blockchain is software programmed decentralized digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. This is the current paradigm of blockchain and studies trying to solve problems such as scalability, transaction speed issues based on this could be considered the ‘normal science’. However, the Color team came up with revolutionary solutions for the existing blockchain problems and devised three technical improvements.
1. Software → Hardware Integration
In 1965, Gordon Moore proposed Moore’s law — which says that the density of a chip doubles every two years while decreasing in price. Even though some people say Moore’s law is dead, but from the wireless pager to the modern smartphone, such improvement was derived from an enormous improvement in hardware. The Color Platform integrates blockchain with the PUF chip, which enables instant transaction confirmation and offline P2P transactions. This service is called ‘Color Pay,’ and you can check the details on the Color Pay blog post 1 and 2.
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…medium.com
2. 1 Tier Blockchain Servers → 2 Tier Blockchain Servers
Using blockchain technology, all the activities occurred in the terminal nodes (computers, smartphones, and tablets) are recorded in the block. The problem is, in order to process various services and functions, the same and repeated smart contract operations must be recorded in a block with the existing 1-tier blockchain server. Let’s say there’s a blockchain messaging dApp service. To send a text message, it requires a long process for each text like ‘send a message → consensus → records in a block.’
It is relatively easy to create a simple crypto-payment system, but as you can see the above example, it is almost impossible to launch complex dApps with more features and acquire users because of the extremely slow transaction speed for each function. The two-tier blockchain server, Color Spectrum, is divided into Logic Runner, which processes dApps’ business logic, and Block Builder, which records the necessary information in the block. It enables to operate thousands of dApps and provide services immediately.
3. Multi-Currency → Unified Single Currency
There are various blockchain platforms like Ethereum and EOS, and those platforms have multiple dApps using their own cryptocurrencies. Users can not utilize several services with one single cryptocurrency. They must get individual tokens for each dApp they want to use. However, the Color Platform has been developing more than ten dApps and enables users to utilize various services with a single currency, Color Coin. The Color team already launched two applications, Dailytto and Reward Inc., on Google Play Store, and currently, those dApps has been acquiring users.
Become the first Cryptocurrency lottery winner! — DAILYTTOmedium.com
Color has been developing the Color Pay — PUF chip-based payment system, the Spectrum — parallel data processing technique, the Prism — Color consensus, and governance where all of these smoothly work together.
Are you ready to enjoy a quantum jumped blockchain world with Color?
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