LINK WHITEPAPER CONTENTS (3) — Technology of LINK
3. Technology of LINK
With the two contents, LINK Ecosystem Principles, LINK Distribution (LUCAS & Distribution Plans), we hope we well-presented the ideal picture of the crypto-asset ecosystem and the differentiators of LINK Ecosystem from the LINK Team’s perspective. This post is the last episode of the series related to the LINK Whitepaper 2.0, and will focus on the Technology of LINK Ecosystem.
The Vision of LINK Network
Hongkyu Lee, the CEO at unchain discusses the technical vision of LINK Network
LINK Network’s Difference
Our next-generation blockchain platform, LINK Network is developing- in terms of the direction, vision, and…
The LINK ecosystem is built on LINK Network, a blockchain-based network we developed in-house, and the growth of that ecosystem depends on the evolution of that LINK Chain infrastructure. Because our goal is to make the LINK ecosystem a part of people’s everyday lives, we plan to advance our technology in the following areas:
Whether it is Bitcoin or any other cryptocurrency, scalability has become the most widely discussed blockchain challenge, as the volume of transactions has increased beyond the processing capacity for existing blockchain networks. It is critical for blockchain-based networks to securely record data, but their data processing speeds are slower than the traditional network structures used for existing IT services. Consequently, dApp developers often face many constraints during the development phase and end up designing their services to avoid the scalability problem. This, in turn, leads to significant issues with usability. However, LINK Network will solve the scalability problem through its LINEAR Network, an Interchain-based solution.
1. LINEAR Network
The LINEAR Network will be composed of a rootchain, its main chain, and a number of leafchains connected to the rootchain. The rootchain’s role is to issue LINK and to record the data of the leafchains. Once coins are issued at the rootchain, the coins are transferred to the leafchain to which each dApp belongs according to the Root Manager Contract. Then, these coins are transferred to the dApp according to the dApp Manager Contract. DApps are allocated to a leafchain according to their needs. If necessary, a dApp can monopolize one leafchain. In addition, LINK issued at the rootchain will be transferable to a leafchain of the user’s choice, where it can be used for the dApps running on that leafchain.
There are a couple of differences between LINEAR Network and existing Interchain approaches.
- Unlike child chains in Plasma, leaf chains do not spawn further chains.
- The rootchain focuses on reconciling the transfer amount between leafchains.
This allows much higher efficiency compared to other protocols where the rootchain serves as a general-purpose blockchain network.
2. Strengths of LINEAR Network
- Maximum TPS (transactions per second) is scalable:
On the LINEAR Network, the maximum TPS can be increased with additional leafchains. If the total number of transactions significantly increases over the platform, it is relatively easy to increase maximum TPS by adding leafchains. This means that the cost for network resources should not increase much even if a number of sizable dApps participate and grow within the ecosystem.
When each dApp is assigned to a single leafchain, the total TPS available for each dApp increases, and it also guarantees that the TPS available for one app will not be affected by the amount of usage on another app. On the LINEAR Network, a dApp will only affect the capacity of its leafchain. Even if it approaches the maximum TPS, dApps in other leafchains will be able to continue processing transactions as usual.
- Flexible leafchains:
There is one requirement made on each leafchain to participate in the LINK ecosystem — they must use the same communication protocol as the rootchain. This allows flexibility for leafchains to be customized and optimized for their dApps. For example, the consensus algorithm and block size limit of a leafchain can be modified to increase the efficiency of a dApp.
As existing blockchain ecosystems tend to be more developer-centric and technology-driven, users of blockchain-based services often find the user experience to be quite poor and inconvenient. In fact, even developers complain about how difficult it is to find the relevant documentation and tools they need. But using the LINK Framework, we aim to build a platform that both users and dApp developers can enjoy.
1. LINK Framework
The LINK Framework is a toolkit for dApp developers designed to support the seamless interaction of dApps with the LINK Network, offering a suite of utilities to help with the development and maintenance of smart contracts, wallet manager and block explorer.
2. Good for Users
Using the LINK Framework, dApps in the LINK ecosystem aims to offer the same level of user experience as traditional web/app services — so much so that users will not realize that those dApp services are running on a blockchain network. In addition, the LINK Framework manages the user’s wallet by matching each user’s wallet to their LINE account so users do not need to manage their private key by themselves when using LINK Framework-based dApps.
3. Good for Developers
Developers who wish to test or operate a LINK-based dApp can easily get a taste of the LINK ecosystem through the LINK Framework. On top of the LINK Framework, we also provide a series of well-organized documents on a wide range of topics related to LINK- based dApp development, ensuring a better developer experience compared to existing blockchain-based platforms. We also plan to launch the LINK Developer Program, which will enable developers to try out their ideas in the LINK ecosystem.
4. Good for the Token Economy
dApp developers can implement the token economy conveniently with the features offered in the LINK Framework, such as token issuance and wallet management. They can also manage the token economy efficiently using the Framework’s web-based analytical tools, which offer a centralized method of monitoring various indicators, including transaction trends and token distribution status. In addition, developers can receive expert advice regarding their dApp token architecture and reward policy so that they can design and build a balanced token economy.
LINK Ecosystem aims to unfold the ideas addressed throughout the contents including — 1) LINK Ecosystem Principles, 2) LINK Distribution (LUCAS & Distribution Plans), 3) Technology of LINK; and the overall LINK Whitepaper 2.0 review — via three phases. Throughout all three phases, it will continue to grow and expand, as it ultimately develops into a self-sufficient economic system. For further details on LINK Project’s Roadmap and Ecosystem Expansion Strategy, please refer to LINK Site or LINK White Paper 2.0.
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LINK, Blockchain Designed for Everyone