2020 ReapChain Project AMA
Q. Please tell us what made you start the ReapChain project.
A: When I came across Bitcoin in 2013, I became interested in blockchain. After that, while creating a blockchain development company and developing related solutions, we encountered technical limitations of the mainnet.
Although the security of the blockchain technology is excellent, all transactions until consensus, the biggest problem, are untrusted data, and it was difficult to apply to dApps.
Especially in the fields of financial, IoT, and games, it was very unfortunate that we could not utilize complete blockchain technology because we had to process real-time data.
The goal of the ReapChain project was really concise and solid.
Blockchain that can be used in practice!! I have been thinking about that goal for 4 years, and now I am able to conceive and design a blockchain that can process data in real time with a dual chain, the basic structure of ReapChain.
Q. How is ReapChain different from other mainnets?
How can it help with new economic and technological advances?
A: ReapChain consists of a middle chain and a mainnet in a double chain structure.
Pre-confirmation is provided by pre-consensus on the actual processing speed in seconds, independent of the block generation time, with the middle chain as a temporary ledger concept.
Since it is a structure that finally confirms and confirms in accordance with the mainnet block creation time, it realizes the practically usable TPS speed. It can solve the speed problem of the existing public blockchain.
Since the mainnet structure is public-oriented, it can solve the disadvantage of existing private blockchains, the scalability.
Q. What is a special structure of ReapChain?, Please explain.
A: ReapChain is a dual-structure hybrid blockchain that combines private and public.
The structure was designed with a private blockchain on the outside and a public blockchain on the inside, and this is called the Shell-Core Structure. The name comes from the shape of the shell surrounding the center.
This shell core structure of ReapChain is designed to solve the problem of the trilemma, which is major problem of existing blockchains.
The problem of scalability is solved by enabling mass data processing and high-speed processing through the external Reap Middle Chain (private chain), and the internal ReapChain PoDC consensus structure provides 52% of the occupancy of the operating committee, solving the element of centralization. Thus, decentralization was implemented.
Security enables a hybrid blockchain combining private and public blockchain to be pre-protected in the form of an external private chain defending against external attacks, and has 48% of the agreed standing committee to defend against multiple blockchain attacks, including 51% attack.
Q. Why are you using PoDC, a new consensus algorithm?
A. ReapChain’s two-way consensus algorithm PoDC (Proof of Double Committee) is an algorithm that is an evolutionary step from the existing consensus algorithm.
Consisting of 14 standing committee nodes and 15 operating committee nodes (15 nodes selected by utilizing a security-strong quantum random number among the management committee candidate nodes), a total of 29 nodes consensus for block generation Participate in the process.
The advantages of the PoDC (Proof of Double Committee) consensus algorithm in ReapChain are:
1. A total of 29 nodes agreed, enabling rapid consensus, improving processing speed.
2. The problem of centralization of the consensus node, which is a problem of the existing PBFT, is a problem, but the PoDC consists of 14 nodes on the standing committee and 15 nodes on the operation committee, so that the general node can participate without permission, giving 52% of the share to general nodes We solved the issue of centralization by paying dividends.
3. Security was secured by selecting the operating committee node through quantum random numbers from the operating committee candidate group.
4. By operating 48% of the standing nodes, we have secured 48% of goodwill nodes, solving the issues of 51% attack and hard fork.
5. By processing transactions that have been verified through pre-consensus with 99% trust in the middle chain, confirmed confirmation can be reduced to less than 3 confirmations, enabling quick confirmation.
Q. What makes it necessary to combine public and private blockchain?
A: Blockchain can be largely divided into public and private chains.
The public blockchain is highly decentralized because anyone can participate in the consensus process without restrictions, but since it is possible to participate without restrictions, the processing speed during the consensus process may be slow, making it unreasonable for practical use.
Private blockchain allows only authorized users to participate, so consensus processing speed is fast.
However, due to the limited number of users who can participate, the scalability is low, and the centralization exists, so it is vulnerable to security, and it is free from decentralization, which is the basic philosophy of the blockchain.
For each blockchain, you can see that the advantages are both disadvantages and disadvantages are advantages.
So, we focused on designing a complete blockchain by combining only the strengths of each chain, and the shell-core structure was made.
Q. What is the difference between the existing hybrid blockchain and the dual blockchain structure of ReapChain?
A: Although there exist hybrid chains that combine many public and private chains in the past, ReapChain is differentiated from existing hybrid blockchains.
The existing hybrid blockchain was launched to solve the processing speed of the existing blockchain by synchronizing the two chains by pre-processing through the private blockchain and recording the final record in the public blockchain.
Since the existing hybrid chain uses private as a sidechain concept, it still has the problems of the existing private blockchain, and there have been many issues in solving integrity with the public chain.
On the outskirts of ReapChain, the Reap Middle Chain, which has a different concept from the existing private blockchain, pre-agreed on the authenticity of each transaction unit through a third party, organize a chain on a cell block basis and delivers transactions processed from the fake ledger to the ReapChain Mainnet.
This is how we address security and integrity, which have been a problem with traditional hybrid blockchain.
In addition, since the existing hybrid block chain also achieves consensus through block generation, data cannot be confirmed until consensus is reached, so real-time processing speed cannot be guaranteed, but ReapChain’s Reap Middle Chain does transactions regardless of the block generation time. Since it is processed separately, real-time processing speed can be guaranteed.
Q. Why should you pay attention to the ReapChain mainnet?
A: By implementing a hybrid blockchain, it is the only blockchain that can enable real-time processing of dApps by providing pre-confirmation, which is a 99% reliable consensus before block creation.
ReapChain solved the problem of trilemma (scalability, decentralization, security) that is the problem of the existing blockchain as follows.
1. Scalability improved mass data processing and processing speed through the middle chain.
2. Decentralization solved the element of centralization by providing 52% of the PoDC consensus structure of the operating committee.
3. By implementing a shell core structure, private + public hybrid blockchain, the external private chain can be pre-protected in the form of defending against external attacks, and by holding 48% of standing committees, it can defend against various types of blockchain attacks, including 51% attack.
Q. How ReapChain can change the future of IoT?
A: The IoT industry is growing explosively, and it is used so much that it can be found around us.
IoT is a technology in which literally all things connected to the Internet are controlled, and IoT is a field that needs to process massive data (MassData) and response to real-time processing results.
Due to the nature of IoT devices, there are security vulnerabilities due to hacking.
When ReapChain is applied to IoT devices, mass data processing is possible through the worm storage of Reap Middle Chain, and real-time response of real-time processing results, which the existing blockchain could not do, can be responded in real-time through a three-party agreement on a cell unit of Reap Middle Chain. Do it.
The security issues of IoT devices can be assigned a unique private key to each device through ReapChain’s PID MCU, and access rights of devices can be controlled through the blockchain, thus avoiding the risk of external hacking.
In this way, ReapChain can bring the effect of reducing maintenance costs by realizing more powerful security and processing of large-capacity data that does not require edge technology through the perfect combination of the IoT industry and blockchain.
★ ReapChain Official Community
Follow the ReapChain official community and have more news!
Homepage: https://reapchain.com/
Telegram: https://t.me/joinchat/MbaQ7RaZchMzjAam9yMS0Q
Blog :https://blog.naver.com/reapchain
Facebook: https://www.facebook.com/ReapChain/
Twitter: https://twitter.com/ReapChain
Partnership and Affiliation Inquiries: reapchain@reapchain.com
Investment and Sale Inquiries: sale@reapchain.com
Project Inquiries : reapchain.official@reapchain.com
