PCHAIN rebrands to Plian, reveals 5 subsidiaries and its DeFi ambitions

What is PCHAIN?

PCHAIN’s mission was to achieve what Ethereum could not, by being the first multichain blockchain that natively supports Ethereum Virtual Machine (EVM) to be a truly scalable Turing complete smart contract blockchain. What this resulted in is a multichain architecture with an aggregate signature scheme that allowed for a dynamic validator set enabling a dynamically scalable network tested to 256 chains and 180,000 TPS, with the aim of bringing the familiar and proven EVM smart contract protocol and tool suite into a highly scalable and interoperable ecosystem. Since our mainnet went live on March 30th, 2019, PCHAIN has built a foundation of:

  • Over 21,700,000 blocks on the main chain
  • Over 38,000,000 blocks on the 1st subchain
  • Over 40,000,000 blocks across 2 enterprise subchains
  • Over 1,400,000 transactions
  • Over 150,000 cross-chain transactions
  • Over 115,000 enterprise subchain transactions
  • Secured with over 242,000,000 PI staked, totaling ~30% of the circulating supply ($14.5M at current value)
  • Staked across 63 nodes
  • With 400,000,000 PI burned with 100,000,000 additional PI to be burned by May 15th, 2021
  • Two PI token buybacks, through exchanges, from the proceeds of the enterprise subchains, totaling 7.4 million PI
  • In a network that supports smart contracts written in Solidity and developed through familiar tools like Metamask, Web3 Javascript API, and Geth Javascript console
  • Establishing 5 subsidiaries with responsibilities ranging from Research and Development to Subchain applications in Supply Chain, Finance, and e-Commerce to Government partnerships
  • Creating 29 partnerships launching 2 enterprise subchains with 4 more in development
  • All while growing the team to over 70 employees

What Did We Learn?

Over these past two years, PCHAIN has been focusing on establishing ourselves in the industry and amongst enterprises as the technical leader in scalable blockchain technology for enterprise applications. While we had great success (29 partnerships, launching 2 enterprise subchains, 4 in development with the pipeline growing every day), we learned exactly what large-scale applications require, what enterprise demands, and where PCHAIN didn’t fulfil the requirements. This showed us a gap and an opportunity to focus our efforts toward DeFi solutions that gave enterprises what they truly needed, with the ultimate goal being creating a purpose-driven scalable DeFi foundation with tools that make development simple as much as secure.

So What is Plian?

Plian is a massively scalable, interoperable, Solidity programmable and near-instant blockchain for Public and Enterprise DeFi needs. What makes Plian revolutionary is its ability to scale by the dynamic addition of subchains with a consensus protocol that allows it to maintain large-scale decentralization while still providing 1–2-second finality. This architecture allows enterprises to establish a subchain to seclude the business-specific blockchain traffic from other network traffic, preventing congestion-driven fees and expenses while not sacrificing security by being pegged to the main-chain.

So what happens to PCHAIN?

Nothing! PCHAIN will continue to be fully functional and remain the blockchain that Plian continues to build and grow upon. These implementations will not be impacted or changed in any way. In this new vision, PI will still be the token used to secure and transact on the network, becoming more important as we continue to grow, requiring more nodes to join the validator pool and to add cross-blockchain liquidity. No action of any kind will be needed from users or developers.

What’s coming next

Over the coming weeks and months, you will see a flurry of activity as we get everyone caught up on what we have been working on. Of the 4 enterprise subchains we have been working on, several are getting nearer public launch which will begin to showcase our renewed direction and applicability. And with all of this activity, our partnership pipeline has grown with many more potential subchain partnerships. The tools that will help develop these DeFi applications will be coming in Q2 this year e.g. pMetaMask (v2), pTruffle (v2), pWeb3j, and more. And version 1 of our Decentralized Exchange (Pizzap) will go live also in Q3 this year. With these developments will come fresh block explorers that will tie together all the components of the network into one intuitive online tool. And to bring it all together will be a new roadmap of our path into the future with new whitepapers for our blockchain and decentralized exchange.

Learn more

For more information, please visit Plian’s new website and updated documentation. Follow Plian on Twitter, join the general discussions on Telegram and technical discussions on Discord.

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Plian

Plian

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