Breaking | DREP Mainnet 1.0 launched to interconnect cross-chain data and improve user growth
Founded in 2018 with the vision of building “connector and toolkits on blockchain”, DREP has been in constant change and has evolved to fit the needs of the next generation finance industry. In this June, we are proud to announce that after years of preparation, DREP Mainnet 1.0 finally launches. We are witnessing the future.
DREP has fulfilled its original dream and has ambitions for something even greater. 18 months ago, we released a four-stage plan for our tests: the D-R-E-P.
| Darwin, The Evolution Origin
| Riemann, The Breaking Point
| Euler, The Eternal Method
| Planck, The Constant Change
We have made great success. Since Darwin testnet 1.0, DREP chain has become officially open to the community. In the first stage, we implemented DREP decentralized ID and data privacy protection, characteristic reputation protocol, and highly adaptable cross-chain protocol. In Testnet 2.0 Riemann, DREP successfully deployed multi-party signature to PBFT system, DREP client and DREP wallet. Then we added the even more exciting address alias feature during the development of Testnet 3.0 Euler. Finally, in the last phase of Pre-Mainnet, Planck, we fully upgraded the smart contract, optimizing the network performance.
We will stay true to the original mission and step forward to greater goals:
| Explore the commercialization path besides performance improvements;
| Achieve cross-chain data interoperability by joining hands with industry partners;
| Look beyond crypto space for user acquisition rather than fight for the current market share.
For better understanding about DREP Mainnet 1.0, here we present the detailed introduction of the mainnet of DREP:
Tool kit DREP SDK
The DREP SDK is developed by DREP team independently which helps various DApp to adopt blockchain technology. The DApp R & D team can publish the version which is simultaneously supported by assets on multiple public chains with one click through the DREP SDK, in which case the DApp release can no longer be limited to a certain public chain, sparing the efforts to develop respective versions for different chains. The DREP SDK can connect all the digital assets on chain, enhance the usability and lower the threshold of users to pay, trade and stake on chains. What’s more, the SDK built-in wallet and exchange platform can also obtain users of multiple public chain applications based on the shared DREP ID, convert without barriers all types of digital asset holders into application users. In conclusion, the DREP SDK aims at creating the super DApp and minimizing the user education cost.
Smart pipeline is a brand-new blockchain expansion model proposed by DREP. It has many advantages such as high efficiency, zero gas consumption, and strong expansibility on the basis of guaranteeing security which solves the difficulties that cannot be solved by smart contracts. DREP Smart Pipeline is a “pipeline” for data transmission which transfers data between the blockchain virtual machine and external applications: the blockchain client transmits real-time data to the external application through the smart pipeline, and the results will be fed back to the client through smart pipeline right after execution of external application, and the client stores these data in the database to complete the data upload. This process can not only avoid the data congestion in the virtual machine but enhance the data processing efficiency without hindering performance. What’s more, the application of the DREP smart pipeline consists of the WASM instruction set, which is distributed through the blockchain. Anyone can choose any application to execute on sub-chains, or independently write applications and execute them after review.
In the DREP network, due to data isolation or other special needs, an independent data cluster needs to be established; one node issues a transaction to create a cluster, and other nodes join the cluster by applying. Each node shares the same status with others in this cluster and can communicate privately, process transactions independently, and jointly manage all copies of the books associated with the cluster. The cluster can be deemed as a friend circle (although the members of the cluster are not necessarily friends). A person may have more than one friend circle, and each circle has its own routine. The circles can be completely independent or containing some intersections between individuals with its own “rules” for each circle. What’s more, there may be intersections between the clusters of enterprises and organizations. Suppose there are four organizations Org1, Org2, Org3, and Org4, of which Org1, Org2, Org3 establish a financial chain alliance, and Org2, Org4 establish a supply chain alliance, in which case more clusters can be established according to specific business requirements to form different alliance chains, And they can add new alliance chains anytime as needed. By supporting the cluster, DREP can support any alliance chain construction.
Zero knowledge proof
DREP introduces zero-knowledge proofs in DID to safeguard irrelevant private information. DREP stores the corresponding zero-knowledge proof in the text of the DID as a verifiable statement of the specified information to prevent information leak-out, With DREP’s DID technology and Client tool, users only need to maintain the DREP DID private key to create and deploy various digital assets (BTC, ETH, etc.). For example, a trusted third party DID_X has issued a verifiable claim D to DID_Y. DID_Z wants to verify that DID_Y’s verifiable claim D contains some privacy information that is not related to DID_Z verification. Nevertheless DID_Y refuses to expose irrelevant privacy information, in this case, DID_Y can negotiate with DID_Z to generate a zero-knowledge proof that verifies the information corresponding to the claim.
Optimization and improvement
- Complete Mainnet architecture, realize main network data synchronization and DREP TOKEN transaction function, support DAPP or enterprises to develop their own blockchain systems based on DREP;
- Improve traditional PBFT consensus mechanism, introduce PBFT based on multi-signature, combine the advantages of DPOS consensus mechanism to improve the efficiency of the DREP chain;
- Improve smart contracts compatible with EVM and WASM
- Complete the development of homogeneous and heterogeneous cross-chain technologies, form a multi-level and three-dimensional user reputation list;
- Launch more methods of DREP Staking, enhance Staking system;
- Complete the development of data cluster, support the building of any alliance chain;
DREP’s high level of privacy and security protection gives you the peace of mind you need to trust your assets and information to our platform. The security technologies in our iteration are:
User privacy protected by DREP Zero knowledge proof
Zero knowledge proof is a probability-based verification that includes “factual statements” and “statements about personal knowledge”. The fact that the certifier asks the certifiee questions randomly, and if the answers are correct, indicates that the certifiee is likely to have the “knowledge” that he claims.
The three major characteristics of completeness, rationality and zero-knowledge ensures that zero-knowledge proof can prove the honesty of both parties to the greatest extent without revealing the privacy. It has the advantages of high efficiency, simplicity and high security.
DREP Asymmetric Encryption
Asymmetric encryption algorithms are widely used in the current Internet technology. They are based on mathematical principles, efficient and reliable, and are also important components of blockchain technology in privacy data encryption and identity confirmation. In the blockchain network, each participant is given a pair of digital keys, i.e., public and private keys. The public key is published throughout the network, and the private key is retained by the node itself.
The Asymmetric Encryption has the features of one-by-one match and irreversibility. The encrypted messages can only be deciphered by the receivers with private keys, which boasts a high security level.
DREP Cross-Chain Protocol
Cross-chain technology is essentially a technique that transfers data D (or Message I, or Message M) on chain A to chain B securely and credibly and produces the desired effect on chain B. Because the blockchain system is supposed to be a special distributed ledger system, this transferred data is most often the data of assets, such as token balances.
At present, the mainstream cross-chain technology solutions according to specific implementation methods are: notary mechanism, hash lock, side chain & relay chain, distributed private key control. Side Chain & Relay Chain technology will be the mainstay of future cross-chain technology.
There are mainly 3 outstanding advantages of DREP compared to other mainnets:
DREP is more functional and easier to use, thus convenient for enterprises to integrate into our system without hassle.
DREP has developed and upgraded the API, Plug-in and SDK functions for various vertical industries, lowering the threshold of technology use and education costs. This can help developers or enterprises to quickly realize blockchain development work, and also support the DApp team to release a one-click version of multi-public chain asset, built-in wallet and asset trading platform. The technology is based on the shared DREP ID to obtain multi-public chain users and is convenient for enterprises and platforms to carry out all kinds of digital asset holders. DREP is more functional and easier to use.
DREP can confirm transactions more quickly
Using the DPOS + PBFT algorithm, DREP introduces a PBFT mechanism based on multiple signatures, enhancing PBFT with the Schnorr multiple signature algorithm, integrating a large number of signatures into one signature, improving DREP chain efficiency and reducing network transport overhead in areas such as storage and network transport. The DPOS consensus mechanism selects a number of node representatives to participate in subsequent transaction validation and bookkeeping, with higher performance and faster efficiency. In all test networks and pre-master networks, DREP combines the advantages of DPOS and PBFT consensus mechanisms, better achieving enhanced fault tolerance, more stable and efficient consensus.
DREP’s TPS is faster
The DREP chain adopts a two-tier system of main-chain and sub-chain, which improves scalability and strengthens the efficiency of the underlying blockchain without affecting the degree of decentralization and security. In DREP’s open-source test network, the DREP chain TPS peaked at over 15,000.
In the future, DREP will pay more attention to both the ecosystem and technology development, dig deep in commercialization methods, cross-chain data intercommunication, and the increment of users. In terms of products, DREP will develop decentralized financial platforms and staking projects. In fact, the team has started consulting with third parties to launch staking programs. In terms of technology, we are keeping up with the latest trends, such as doing research on the sharding technology adopted by ETH 2.0 to increase scalability, and the data ID launched by Microsoft recently. DREP will strive to create better connectors and tool kits.
As a leading provider of blockchain technology solutions, DREP mainly focuses on blockchain solutions, cross-chain digital ID, data privacy security and easy-to-use blockchain tools. At present, it has formed a mature blockchain service ecosystem in the emerging markets of blockchain in East Asia, Southeast Asia, the Middle East, Australia and other other countries and areas, what’s more, DREP has reached partnerships with the leading enterprises in the fields of finance, real estate, gaming and intellectual property. DREP provides partners with a customized low-cost, high-efficiency, and more flexible blockchain service network and mature solutions based on blockchain technology. And we will bring in more strategic partners of DREP in due course.
For cross-chain data interconnection
DREP has completed the development of its proprietary two-layer architecture which subsumes stable main chain and customizable sub-chains. It allows companies to issue and distribute tokens individually, promote the deployment of smart contracts and smart pipelines, and at the same time allows multi-chain asset exchange and reputation value sharing, converting various types of digital asset holders without any barriers.
DREP’s cross-chain agreement breaks the stereotype of traditional agreements and enables the cross-chain transfer of reputation (credit/loyalty), important behavioral data related to identities apart from the assets, and homomorphic encryption is adopted for security and use.
DREP cross-chain interactions can be divided into homogeneous chain interactions and heterogeneous chain interactions: the security mechanisms, consensus algorithm, network topology, block generation verification logic among the homogeneous chains are consistent, so the cross-chain interactions on them is relatively simple. However, the cross-chain interaction on heterogeneous chains is more complicated. The composition of the blocks and assurance mechanism differ a lot, as a result, it’s hard to enable direct cross-chain interactions on heterogeneous chains. Auxiliary services from the third party are required to realize the cross-chain interactions on heterogeneous chains.
The DREP main chain and sub-chain are connected to each other through a lightweight homogeneous cross-chain protocol, and users can check the status of assets on different chains anytime through the wallet. Distributed private keys connect chains outside the DREP system and even traditional platforms with DREP ecosystem to achieve a secure heterogeneous cross-chain and expand the range of reputation agreement application. Based on homogeneous and heterogeneous cross-chain technologies, Token and reputation data in different DApps are integrated in the main account through cross-chain technology to form a multi-level, three-dimensional list of user reputation, which supports exchange of assets and reputation value sharing across different chains, and converts all kinds of digital asset holders smoothly.
For user acquisition
DREP Mining is not only the first blockchain miner parkour game self-developed by DREP, but also a gamification tool based on the DREP which helps to realize the use, consumption and lock-up of tokens. It has the advantages of safe decentralization, custom game elements which can improve the tokenomics of the project. DREP Mining created numerous innovative scenarios for token lockup, staking, and consumptions, attracting users outside the blockchain industry. In addition, the ranking competition in DREP Mining also drew wide attention and was highly praised. Moreover, in April of this year, DREP launched the buyback plan for the first quarter of 2020, repurchasing 7.12% of the liquidity from the open market.
Decentralized Finance (DeFi)
In traditional finance industry, lending and borrowing has always been limited by numerous regulations, middle parties and friction costs. Now blockchain aims to revolutionize the industry by eliminating banks and replacing them with decentralized matching mechanisms. Reaching consensus by codes can minimize the cost and spare the involvement of a third-party. Defi has been a highlight of DREP technical development since day one.
Through blockchain + Defi, DREP really makes the blockchain technology linked to the needs of real enterprises, reducing the barriers and bringing real incremental users to the blockchain field.
Furthermore, DREP offers a highly targeted and viable blockchain+Defi solution:
(1) Establishing an instantaneous transaction settlement network based on algorithmic trust, which is fully traceable and credit-free through the synchronization of global nodes to achieve seamless and low-cost transaction settlement between buyers and sellers, while maximizing transaction transparency, stability and efficiency under the premise of protecting the privacy of both sides.
(2) Establishing a more flexible decentralized investment and financing platform with a lower threshold, simplifying the transaction process, avoiding layers of turnover and audit processes of third-party financial institutions, and achieving more convenient, efficient and peer-to-peer asset transaction services on the basis of ensuring security.
(3) Creating a credible digital identity for real estate based on DREP DID, and eliminating information tampering and leakage through the characteristics of blockchain technology to create a safe and secure transaction environment.
(4) Integrating the DREP reputation agreement, with the help of DID points to reflect the reputation of employees, really achieving information transparency, true and reliable.
Here are the four main blockchain+ game dilemmas at present:
- Single economic system: lack of flexible and attractive revenue model to satisfy player’s needs
- Lack gameplay:gambling game dominates the market
- Limited ecology:insufficient active users in mainstream public chains
- High development costs:redevelopment of a single game in different public chains
DREP Gamification Tool is a gamification tool based on the DREP SDK which is able to create economic models, design asset consumption scenarios, and realize user-defined operations.
The main functions are as below:
- SDK payment through multiple coins
- digital assets consumption scenarios
- Deflationary economic model
- tools for user growth
Pinpointing those issues, DREP will roll out many new functions in the mainnet. We will introduce a flexible and customized economic system(including staking), satisfying different players’ needs. DREP SDK will support multi-chain game versions with one click, realizing multi chain payment. Last but no least, DREP helps projects breakthrough the development dilemmas of token economic system realization, achieve one-click docking of “Blockchain+Game” scenario and realize TOKEN usage, consumption and lock-up.
By actively participating in the network system through staking, token holders enhance network security safeguard their rights as token holders and receive staking rewards. Without actively staking, the tokens held do not grant the holder any rights and benefits from staking. Thus, the staking economy is a significant trend for cryptocurrencies and is inseparable from every token holder.
After mainnet launch, we will gradually roll out DREP Staking, and fixed term interest programs on third party platforms. DREP holders are all eligible to participate, and get high returns. DREP’s deflationary economic model will be further strengthened.
We are fully aware that a real hero is silent about his past glories. Therefore, we are working persistently to optimize our products and so as to meet various and increasing requirements from users. To this end, we will roll out more marvelous functions in our upcoming mainnet and they will be the cutting-edge technologies in the industry.
The goal of the internet is always to achieve “connection”. A part of that plan seems completed; numerous services are now accessible using a $40 smartphone from almost anywhere in the world. This connectivity has driven economic empowerment by enabling more people to access the financial ecosystem. However, all over the world, people with less money pay more for financial services. Hard-earned income is eroded by fees, from remittances and wire costs to overdraft and ATM charges.
DREP offers applications that are dedicated exclusively to the financial industry, including but not limited to: Payment, Lending and Borrowing, Stablecoin, Tokenization, Decentralized Exchange. Defi can eliminate the third party in the transaction process; users can send tokens directly to the counterparty without any middleperson. Defi application is the subset of DApps. Decentralized applications, or DApps, are applications run on a peer-to-peer network, instead of a single server. The most important advantage of this practice is users will not need to rely on a central point to access their service.
The birth of DREP Mainnet 1.0 means we have already taken the big steps toward commercialization. We have provided docking services — the gateway to blockchain — to many businesses and the transaction volume on our public chain has been ever increasing. Thus, the future plan for mainnet will be focused on more innovative applications, and even more efficient methods to improve scalability.
Ethereum 2.0 will introduce sharding, a new virtual machine, and a shift from a proof-of-work (PoW) consensus algorithm to a new proof-of-stake (PoS) consensus algorithm. This proves promising for DREP’s Smart Channel technology. Scalability has long been a bottleneck limiting the commercial adoption. Now, sharding could be the right solution.
The companies are quickly adopting blockchain technology; the fact is they will only need higher and higher scalability. Currently, the ETH gas fee is relatively high, causing inconvenient congestions when market fluctuations happen. In order to solve this pain point, DREP, by distributing the data among multiple machines, utilizes a cluster of database systems that can store larger dataset and handle additional requests. Sharding is necessary if a dataset is too large to be stored in a single database.
DREP Mainnet 1.0 will use sharding to support deployments with very large data sets and high throughput operations. Database systems with large data sets or high throughput applications can challenge the capacity of a single server. For example, high query rates can exhaust the CPU capacity of the server. Working sets larger than the system’s RAM can also be stress for the I/O capacity of disk drives.
DREP will employ two methods for addressing system growth after adopting sharding technology: vertical and horizontal scaling. Vertical Scaling involves increasing the capacity of a single server, such as using a more powerful CPU, adding more RAM, or increasing the amount of storage space. Horizontal Scaling involves dividing the system dataset and load over multiple servers, adding additional servers to increase capacity as required.
Scalability aside, the DREP team has something else in mind. In the next phase, we will focus on user ecology and application problems.
The competition between public chains is becoming a TPS arms race. But the existing blockchain systems have yet to reach mainstream adoption. Mass-market usage of existing blockchains and cryptocurrencies has been hindered by their volatility, which have, so far, made them poor stores of value and mediums of exchange. Some projects have also aimed to disrupt the existing system and bypass regulation as opposed to innovating on compliance and regulatory fronts to improve the effectiveness of anti-money laundering. In order to solve those pain points, DREP will bring more features to DREP Mainnet 1.0.
DREP ID v2.0
DREP ID is a DID system based on HMAC algorithm, which can realize data concentration and privacy protection. It is mainly a layered system formed by a main ID and multiple sub-IDs. DREP ID allows users to conduct one-stop management of data and assets on centralized and decentralized platforms through our DREP Client. Through the DREP DID system, users can easily manage cross-chain IDs when trading on different platforms.
This cross-platform management works on both decentralized platforms and traditional (centralized) platforms. DREP ID can integrate assets and data and encrypt information without changing the original numerical system, credit system and economic system of the platform, can perfectly guarantee the security of user private information, and form a completely decentralized closed-loop ecosystem with the help of decentralized private key storage technology introduced by DREP DID.
DREP has completed the development of DREP ID v1.0 in 2019, and the development of DREP ID v2.0 is also steadily progressing. We expect to complete the development of DREP ID v2.0 in Q3-Q4 quarter and launch it.
During the test runs of DREP ID v1.0, we have received overwhelming favorable feedback, but also some suggestions to improve user experiences. For instance, DREP ID v1.0 did not have an “alias” function that would make the name more recognizable and customizable. In v2.0, we will lower the user threshold by introducing this new feature.
In addition, online information leaks have been a topic of heated debate in recent years. Companies like Facebook have notorious history in this regard. The DREP team wants you to rest assured that your private information is in good hands, so we introduce the information management function of DREP ID, supporting users to manage the privacy of accounts.
DREP DID 2.0 & SDK
We have made great progress with our commercial and gamification SDK on the public chain, which provides much convenience for businesses lacking the necessary technology background to connect to the blockchain world. In DREP Mainnet 1.0, we will upgrade that by integrating SDK into the DREP DID 2.0
Through DREP SDK, DREP ID achieves decentralized login which has the advantages of third-party login and autonomous identity. It also supports the login of a large number of applications and controls the information transferred, achieving complete function of DREP DID.
DREP Reputation Full Upgrade
We believe the potential of blockchain. However, we also believe that blockchain needs to operate in a fair environment protected by the rule of law. We believe that collaborating and innovating with the financial sector, including regulators and experts across a variety of industries, is the only way to ensure that a sustainable, secure, and trusted framework underpins this new system. And this approach can deliver a giant leap forward toward a lower-cost, more accessible, and more connected global financial system.
To that end, we have devised the DREP Reputation system. All user’s financial records will be saved on chain, tamper proof. Defi, and even Cefi investors can view a lender’s reputation score and assess his or her risks. DREP Reputation’s second goal is to maintain the long-term value of DREP DID. By matching user behavior with reputation, real-time feedback of user’s real data changes can reflect user reputation on the basis of guaranteeing privacy and security.
Based on the feedback we received from community members during Beta tests of DREP Reputation v1.0, we fix many problems and add even more exciting features in DREP Mainnet 1.0. The DREP team have completed the development of general reputation protocol, achieved reputation on-chain, and supported complete user reputation portraits. On scalability, we greatly improve data processing capabilities, even supporting real-time settlement of user reputation. In order to connect to real business needs, we optimize the reputation algorithm library, offering typical algorithm templates to DApp and completing the development of third-party algorithm library platforms. Last but no least, we will launch a strict account management mechanism of reputation value and implement advanced fake account identification mechanism soon. After Mainnet, fake accounts will be completely eliminated.
The DREP team is aiming to develop a blockchain connector and tool kits with differentiation advantages and special edges. We have implemented more functions than ETH, and we can process transactions faster than ETH. Since the launch of pre-mainnet, we have formed many strategic partnerships with important industry players from the realms of Internet, Finance, Real Estate and Retail. DREP has also received significant investments from VC funds in both the traditional venture capital industry and the blockchain industry. However, our most important focus is still put on the community. We want to listen to you and bring you the next generation decentralized banking. That is why we keep improving customer services; the commercial needs of DREP reputation system echoes with redistribution of wealth in the data sharing ecosystem.
“The road before us is long and winding. Depart now and we shall be arriving.” In this June, DREP Mainnet 1.0 will officially launch. This era we are heading into is undoubtedly an Age of Discovery. Sail with us to a brighter future with blockchain!