Futurepia Participated In “K-Blockchain 2018” Conference in Seoul
Cyworld’s (the first social network in Korea) one of the founders Hyong YongJoon, currently serving as one of the directors of Sigma Chain, gave a lecture on the title ‘Social Media Based On Blockchain’ at ‘K-Blockchain 2018’ conference held by Korea Block Chain Association at COEX Auditorium in Seoul on 30th August.
Existing challenges in digital age
In his speech, he talked about the existing problems existing social media platforms and their users are facing — including security breach, access to fake news, content stealing and not getting the reward for adding value to the network.
“SNS giants are experiencing a stagnant growth but at the same time engaging in personal data piracy to maximize profits and playing zero-sum games instead of positive-sum” Hyung-Joon, a Cyworld founder and one of the directors of Sigma Chain, said. He added, “SNS is not yet secure despite strong platform such as Facebook.” This means that distributed social networks that store user data and share profits equally are solid social networks that share information and knowledge based on trust. In the distributed ecosystem, which is based on consensus and surveillance, fake news and excessive advertising will be naturally filtered out and private contents will be protected”.
Solution in the form of Futurepia’s Mainnet
In order to solve the Internet SNS ecosystem and block chain mainnet problems at the same time, the company has released the #FuturePia solution, which is being developed by Sigma Chain and will be launched very soon. FuturePIA is a blockchain based social media mainnet. It supports DApps specialized on social media, has a DApp Store, and provides various APIs for DApp developers.”
The FuturePia mainnet runs on the DDPoS (Dual Delegated Proof of Stake) algorithm. “Our DDPoS method(Dual Delegated Prood of Stake) is a new algorithm where randomly selected nodes take the role of block producers (BP, Block Producer) and security monitors (BO, Block Observer). These delegate nodes generate blocks in random order.” Hyoung YongJoo said. He also added, “Due to our block producing and consensus algorithm, our mainnet can handle 300,000 transactions per second and has an excellent security.”.
Unlike other companies, Sigma Chain first disclosed the main net before ICO. They have successfully implemented DDPoS technology that solves the existing #DPoS (Delegation of Stake) algorithm limitation. FuturePia Mainnet will launch this year.
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