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DREP Research Institute | How DREP can contribute to improving the blockchain network infrastructure

Have you heard about BSN. It is the initial for Blockchain-based Service Network, a part of China’s grandiose plan to provide infrastructure for businesses and Dapps around the world. With the support of the Chinese State Information Center, Information Technology giants such as the renowned China Mobile, BSN represents the spearhead of China’s ambition to take over the stage of the future blockchain world.

At the time, BSN is scaling rapidly and integrating several public chains simultaneously. In addition, because BSN is state-backed and wants to focus on large network infrastructure, the consortium chains are also an important piece of the puzzle.

So, what is BSN? What are the main advantages of its technology? And where does DREP fit into the picture of achieving economies of scale in inter-chain services?

Cross Chain Network

The buzzword here is “Economies of Scale”. For those who have not heard it before, it simply means when something gets bigger and encompasses more of the industry share, it can provide public goods at higher efficiency. This is exactly what we see in blockchain, and what we have witnessed in the history of internet. When more people connect to each other, the power of the network rises exponentially.

The current dilemma

However, rather than the perfect picture, the blockchain world as of now looks more like a chain of isolated islands who are closed to each other, cutting off trades entirely. Everyone wants to be the platform where others will adhere to its rules and regulations. Everyone wants to standardize the whole industry. But what we got is chaos and confusion left by numerous public chains.

Tips: The BSN aims to on-board its cross-chain service in the next few months. The initiative will be in partnership with other cross-chain technology companies to expand the choices offered.

Obviously, cross chain is the solution to the bulk of the problems mentioned. DREP can contribute to this initiative by leveraging its own cross chain scenarios. For example, a user wants to convert one token via cross chain transaction. A number of nodes on the cross chain, either shards or super representative committees, will maintain one multi sig account on the original chain, while assisting to allocate and administer private keys. It is not possible for a single node to obtain that user’s token from the original chain without possessing enough private keys. Thus, DREP achieves both efficiency and security in this way.

Super Dapps

As we all know, many companies have already built applications on the blockchain. However, those applications can better be described as data “silos” whose ties are cut off from each other. BSN aims to end that.

Data Silos

To build a functional Dapp, the basic blockchain infrastructure has to be there, of course. But right now the main pain point for many participants is they are lacking a way to achieve reliable info about the real businesses. The data from, say, the telecom companies. Without data, interoperability becomes more of a pipedream even if the cross chain technology is sufficient enough to support it. Thus, getting different systems to work together is of utmost importance.

What we need is letting every partner contribute to a singular point which will connect the internet of blockchains together. That hub will retrieve data uploaded by all the nodes and disseminate information with accuracy hitherto never seen because it now oversees the whole landscape.

For example, a Dapp that tracks sales data in an online market, or payment information could upload to the center, where another public chain based Dapp will have access to the information. That will change the current situation of data isolation.

Tips: Which public chain should those Dapps be built upon? People should be able to publish their Dapps on it easily, preferably with one click, so then businesses and companies will enter into the blockchain industry. Currently many of them are skeptical because of the information barrier and education costs. DREP can lower them both to manageable levels.

SDK 2.0

Furthermore, DREP has launched its mainnet and DREP SDK is one of the highlights in our toolkit.

It forms the basis of a “connector”, providing easier DApps deployment on multiple public chains with a simplified process while promoting cross-chain data integration and data sharing privacy protection with the use of homomorphic encryption.

SDK has been wildly successful in the multiple iterations of DREP testnets. DREP SDK adopts a service-oriented architecture, similar to Java’s Spring container development. In most blockchain project code, the modules are more coupled. Using this approach, DREP allows the modules to be fully decoupled and the code can be easily refactored with a clearer logic.

After mainnet, we have released SDK 2.0. With the new updates, it supports various developer tools for various types of digital currency payment and settlement. It supports payment, exchange, storage, and lock-up of any currency required by public chain and applications, including the currencies based on different public chains. DREP SDK provides a complete payment SDK. Developers can complete multi-currency payment, clearing and settlement through simple parameter settings.

We have previously announced DREP SDK will add DC/EP as one of its payment currencies. DC/EP as an all encompassing global virtual currency has been supposedly part of China’s plan to make yuan more competitive in the international market. DC/EP and BSN are the two arguably most important weapons in China’s blockchain initiative.

Thus, we have reasons to believe that DREP Mainnet 1.0’s vision is exactly the same as BSN’s. The foundation of both networks is a structure made up of modules. The philosophy enables users to access current blockchain protocols, or create something of their own without the hassle of building platforms from the ground up.

As the name suggests, the system can add or delete modules at will. It is very flexible. Due to the negligible costs of integrating a new module, experts believe this program can cut more than 50% of the development costs, revolutionizing the entire industry.

In addition to this, DREP can also play an important role in the famed mission of “banking the unbanked”.

We believe that through by innovation, technical breakthrough and good governance, DREP will become a key player in ensuring that sustainable development, security and trustworthiness are the foundation of this new system. And this allows for making strides towards a lower-cost, more convenient and interconnected global financial system.

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