Monthly Progress Report

Welcome to PCHAIN monthly report.

We would like to present you with our latest progress update. Please read below for a rundown of some important things that have occurred over the past four weeks.

Development Progress

1. The latest version 1.3.04 of the mainnet is released and upgraded

2. HTLC vulnerability patch to prevent costless attacks and blockage of transactions;

3. Analyze and reproduce the cross-chain transfer to cause the mainnet Bad Block;

4. Design and develop the mobile version of the PIwallet App UI; adapt to support Android and iOS dual systems;

5. Mobile App has completed the development of functions such as address management, PI transfer and delegation.

6. Mobile App front-end and back-end integration and system process testing.

7. DCEP research and crosschain design;

8. PCHAIN mainnet operation and maintenance.

PCHAIN News

1. PCHAIN has completed its 2nd BUYBACK of 3,800,000 PI (~38,193.8 USD) on August 13th. Financed by our Commercial ChildChains growing incomes this buy-back will be used to strengthen PCHAIN ecosystem. Check more via PCHAIN buy-back address: 0x7414a0d34243bf90ee0e002b3a23782e1606e0ab

2. As part of PCHAIN 2.0 , the team has decided to burn a max of 500m PI from the Team and Foundation wallets to facilitate the growth of the ecosystem. We will burn 50m PI ( ~2.5% of total supply ) on the 15th of every month until the max of 500m PI is reached or until the $PI price reflects the fundamentals of PCHAIN 2.0. The 1st Burn of 50m $PI (~735,100 USD ) took place on August 15th!

Transaction hash 1: 0x8ad086249613b2fe23386bcf1652263d4dbf2ae45a840dd07fc7ddc579f311e8

Transaction hash 2: 0x9bb6caa6d7a1b622b2c9963ad2dab4cb0bf7ae11ccb72c6cc22de09a9afb4e8d

3. PCHAIN foundation have delegated 2.6million PI from the 1st buyback to the 14 candidate nodes who deployed via Ankr. Please check your proxied balance/ detail.

https://docs.google.com/spreadsheets/d/17H3_mL6dTZVgSfMX5YJfg-8sUZOjyX4VB0pcQy1gcxo/edit?usp=sharing

4. PCHAIN main chain has switched to Epoch 16 on August 14th. PCHAIN will delegate 1m PI from the 1st buyback to the first 10 Candidate nodes this Epoch 16.

5. As compensation for the nodes and delegators of the ChildChain 1 for their trouble during Epoch 13, the PCHAIN foundation will x2 the mining reward of Epoch 14 and add 656,250 $PI to the mining reward pool.

6. We held telegram AMA with PCHAIN founder Dr.Jeff Cao on July 28th, delivering important update for PCHAIN including the topic:

PCHAIN 2.0= CCC+ DCEP + DeFi.

The 1st DCEP application on PCHAIN CCC will be launched in Sep.

Engaging with BSN

Summary link: https://twitter.com/pchain_org/status/1288422227298328576

7. On August 4th, PCHAIN was invited to attend the IEEE P3205 working group meeting to discuss the IEEE P3205 CrossChain Interoperability and Communication standard with AntChain ( Antgroup) , Hyperledger, Xuper ( Baidu), etc. The standard was proposed on 4 protocol priorities including Data protocol, Distributed identify protocol, Proof conversion protocol and Communication protocol.

8. On August 8th, PCHAIN founder Dr. Jeff Cao was invited to give a keynote speech on DCEP Crosschain Expansion based on EVM at the 2020 Ethereum Technology & Application Convention. He talked about DCEP working pipeline, the key challenge of decentralized mapping DCEP way and delivered the proposal: EVM + IEEE P3205 crosschain standard supported by PCHAIN Smart data, AntChain ( Antgroup) , Hyperledger, Xuper ( Baidu).

9. We officially defined that PCHAIN SmartData = PCHAIN 2.0 implementation of IEEE P3205 crosschain standard which will be interoperable with AntChain ( Antgroup) , Hyperledger, Xuper ( Baidu), which means PCHAIN 2.0 and its unique SmartData capability will be IEEE P3205 compliant

10. Congrats SpainPAI & Joshka4All, our first ANKR Candidate Nodes elected this EPOCH 16 on our main chain. Join PCHAIN consensus and set-up your PI node via our documentation or via our two official #partners Ankr and AWS.

PCHAIN documentation: https://pchaindoc.readthedocs.io/en/latest/pchainclient/pchainclient.html?highlight=install%20pchain#pchain-client

Setup via AWS: https://pchaindoc.readthedocs.io/en/latest/pchainclient/installfromaws.html#aws

Setup via Ankr: https://medium.com/ankr-network/how-to-run-a-pchain-validator-on-the-ankr-cloud-4e49fb5afd90

11. PCHAIN 2.0 will extend the function of DCEP on a Public Blockchain PI via EVM and Crosschain. Tech payment giants such as Alipay (from Alibaba) and WeChatApp WeChatPay (from TencentGlobal ) will support DCEP from inception. More details in this link and in September. https://finance.sina.cn/forex/hsxw/2020-08-21/detail-iivhvpwy2234749.d.html?from=wap

12. PCHAIN now has 113,137 PI wallet addresses! We are looking forward to more users, developers, projects, and partners joining us as part of PCHAIN 2.0 expansion plan = Commercial child chain + DCEP+ DeFi + SmartData!

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(Turkey community), Telegram Announcement Channel Twitter, Steemit,RedditFounder/CEO’s Twitter

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