FAQ for PCHAIN mainnet
1. What is PCHAIN？
PCHAIN is the world’s first native multi-chain system supporting EVM (Ethereum Virtual Machine). It features an original PDBFT algorithm, unified knowledge graph, and Smart Data Oracle mechanism, supporting smart contract calls of non-native tokens. PCHAIN aims to solve issues of blockchain performance, interoperability, non-closed loop smart contracts, and dependence on external data, making large-scale industrial application of blockchain smart contracts possible.
2. What has PCHAIN achieved on mainnet?
1) The 1st native EVM multichain enable the interoperability of chain chain and main chain. It can support 256 childchains without pressure on main chain in testnet with 1064 nodes globally. The field TPS is 126K TPS and it can be scale linearly as the number of child chains increases.
2) The patented PDBFT algorithm greatly reduced communication cost from N² to N comparing with traditional BFT algorithm. It can effectively reduce the centralization problem as the number of nodes is limited.
3) Smart Data is a new initiative of PCHAIN, which is new oracle mechanism to void the knowledge limitation in smart contract.
4) Safe Delegation and Blind Bidding Mechanism enable the validator election more fair and secured in epoch switch.
3. Why did you decide to release Pre-mainnet instead of waiting for the official Mainnet launch?
We decided to release Pre-mainnet because we wanted the developers, as well as the non-technicals, from PCHAIN Panda Plan to get the Genesis ready for Epoch 0 and experience the high speed of PCHAIN blockchain. Start to attract more developers to build Dapps with native PI on PCHAIN.
After official Mainnetlaunched, it is easier for developers to join the consensus process by Bidding Mechanism, especially for the non-technical to share PoS mining by Safe Delegation Mechanism.
4. How many Validators does PCHAIN support to run on PCHAIN in the first year ?
Currently, PCHAIN can support about 200 Validators to run on PCHAIN. But there is no limits for the number of delegation nodes. PCHAIN adopts the Dynamic Bidding Mechanism, making more people have the chance to be selected as Validator. The number of Validators in next Epoch= the number of current Validators + 1/2* the number of new competitors. (if 1/2 * the number of new competitors ≤ 1, then it equals 1). In Epoch 0, there are about 78 Super nodes.
5. What is the difference between Validator, Validator Candidate and Delegator?
Validator is a node participating in PCHAIN for the verification and consensus process of generating the block. How to become Validator ?
Validator Candidate is a node competing Validator with the support of Safe Delegation Mechanism by PCHAIN wallet or calling for RPC. How to become Validator Candidate?
Delegator is a node on PCHAIN network that can delegate its PI to a/several specific Validator(s) by PCHAIN wallet or calling for RPC below. How to delegate?
6. How many PoS mining reward will each Validator get on average?
Actually, the total size of one fixed year of PoS mining reward pool is 38,125K PI, but we can not estimate the exact reward percent because it’s based on your stake amount and the total stake amount in each Epoch. For reference, each Super Node running on PCHAIN in Epoch 0 can get about 20% annualized PoS mining reward.
7. What is the punishment if one Validator shutdown his server.
Currently, if shutdown, he will not get any PoS mining reward. But we greatly encourage more developers to join the consensus on mainnet and keep it stable jointly.
8. As a Validator, when will I get the PoS mining reward?
Once proposing a block on mainnet, you can check PoS mining reward in your reward balance. The total reward in each Epoch will be locked and distributed once a Epoch(~30 days) in 12 Epoch.
9. What operation should participants do in each Epoch ?
There are about 4 stage in each Epoch below.
Stage 1: 0~75% height of each Epoch
Participants can add PI / delegate PI/ apply for Validator Candidate/ cancel delegation/ cancel Validator Candidate.
Stage 2: 75%-85% height of each Epoch
Validator bidders and Validator Candidates need to vote for Validator nodes running in the next Epoch.
Stage3: 85%-95% height of each Epoch
Validator bidders and Validator Candidates need to reveal vote for Validator nodes running in the next Epoch.
Stage 4: 95%~100% height of each Epoch
Check the result of the Validators nodes selected to run in next Epoch.
10. Is there any details of Bidding Mechanism?
Check here to view the detailed rules of how to become Validator node.
Check here to view the detailed operation explanation of Bidding Mechanism.
11. What can I do with ERC-20 PI after mainnet?
You need to swap ERC-20 PI to PCHAIN Mainnet PI, a native token for the PCHAIN Mainnet. This will be a 1:1 swap (1 ERC20 PI = 1 Mainnet PI), which will not impact any PI supporters’ balance. Please be aware that it is irreversible once you finish the token swap.
12. How to swap ERC-20 PI to native PI and what’s PCHAIN Token Swap duration?
PCHAIN will start start official Token Swap in June 2019 publicly. Currently, you can apply for token swap weekly. Details here.
13. What can I do with native PI on mainnet?
You can use native PI to run a node for PoS mining reward, send PI, pay gas fee, deploy smart contracts on child chains,etc. Also, more business application will be established on PCHAIN, which makes the native PI more available.
You can follow PCHAIN below
Telegram 1, Telegram(Chinese Community)
Telegram(Russian Community), Telegram(Spanish Community)
Telegram(Germany Community), Telegram (French Community)
Telegram (Vietnam Community), Telegram Announcement Channel
Twitter, Steemit, Reddit， Founder/CEO’s Twitter