PCHAIN Hybrid Ecosystem and Commercial Child Chains (CCCS) — Part 1

INTRO

PCHAIN mainnet was launched on March 30th 2019 with a unique multi-chain framework enabling large-scale industrial applications of blockchain smart contracts in an hybrid and fully interoperable ecosystem with PCHAIN public permissionless main chain at its core.

As the foundation of its multi-chain design, 6 patents including (but not limited to) a patented PDBFT consensus algorithm, unified knowledge graph, smart data Oracle mechanism and cross-chain transactions. PCHAIN is also committed to support non-native token smart contract calls while solving the blockchain trilemma (scalability, security, decentralisation) and never closed smart contract loops relying on external data.

PCHAIN takes advantage of both types of blockchain: public permissionless and private permissioned. By making public and private blockchains interoperable, organizations can isolate and control sensitive data on a private blockchain while still safely interacting with the world at large through an interoperable public blockchain.

This has been PCHAIN vision since inception and led to the signing of 4 permissioned Commercial Child Chains (CCCs): Qiang Sheng Smart-e (launched), KINGGRID (delivered), Weida Group (signed) and GAC-INTERBEING LAB (signed), one year only after launching its mainnet.

This series of 4 articles aims to define the hybrid nature of PCHAIN ecosystem with its Commercial Child Chains (CCCs) enjoying the advantages of both types of blockchain. The current state of our pipeline of CCCs will also be presented, using this opportunity to detail each stage of our CCC acquisition funnel and introduce the overall business model of this hybrid economy.

Both permissionless and permissioned blockchains are needed for large-scale industrial applications of blockchain smart contracts.

In Public permissionless blockchains anyone can join the network, read the public ledger, and participate in validating transactions and blocks by running a node. This is why public permissionless blockchains are not always well-suited to organizations such as finance, banking, automotive, supply chain, government, health care, IoT, and others that must carefully control who can access their data, and comply with complex regulatory requirements.

Instead, these organisations with a fundamental need for private transactions, are currently more prone to using private permissioned blockchains. On permissioned blockchains, transactions are anonymous to the general public. Permissioned blockchains use the same technology as permissionless blockchains, but require specific authorizations to read, access, and write information on them. Therefore, access can be restricted, and information can be encrypted to protect confidentiality.

By making public permissionless and private permissioned blockchains interoperable, organizations can isolate and control sensitive data on a private blockchain while safely interacting with the entire world through an interoperable public permissionless blockchain hence leveraging fully the peer to peer trustless structure of blockchain technology.

PCHAIN provides best-of-breed implementations for both via a hybrid multi-chain framework constituted of a public permissionless main chain at its core and Commercial Child Chains which can be either public permissionless or private permissioned:

1. A PCHAIN Commercial Child Chain (CCC) can be public permissionless or private permissioned;

2. All the CCCs automatically inherit the features, tools, improvements and upgrades that will be added to PCHAIN’s public permissionless protocol;

3. If public permissionless a CCC is integrated by default to all PCHAIN public permissionless chains. The public CCC inherits all the features of PCHAIN but will set-up its own governance logic. The owner of the public CCC will deposit a POS Mining Reward to attract public validators and delegators, run PCHAIN consensus algorithm, and get the POS mining reward and transaction fees;

4. If private permissioned a CCC is totally independent from PCHAIN public permissionless chains, transactions are anonymous to the general public, chooses its own validators, and runs its own PCHAIN consensus algorithm;

5. All the CCCs Interoperate with PCHAIN public permissionless main chain to transact with other CCCs.

While many early blockchain platforms are currently being adapted for enterprise use, PCHAIN Commercial Child Chain hybrid framework has been designed for enterprise use from inception. This led to the signing of 4 permissioned Commercial Child Chains (CCCs): Qiang Sheng Smart-e (launched), KINGGRID (delivered), Weida Group (signed) and GAC-INTERBEING LAB (signed), one year only after launching its mainnet.

In the next article we will present the state of our CCC pipeline and its different stages!

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Plian

Plian

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Plian positions itself to bring near-instant blockchain transactions without sacrificing decentralisation or security to public and enterprise DeFi.