Idea & Token
PCHAIN is the first native multichain system supporting Ethereum Virtual Machine (EVM) that consists of the main chain and multiple child chains. PCHAIN is going to solve problems of current single chain smart contract platforms, for example issues with large-scale transactions, inefficient usage of multiple DApps built on the main chain, waste of calculation power when using a single chain, or inability to change a smart contract if it was created with a mistake. Apart from the multichain system, PCHAIN will have the following features:
– POS-based multi-layer sharding mechanism to improve the performance of transactions
– A new Oracle mechanism will simplify encapsulating of smart contracts. W3C compliant smart data will solve the issue of non-intelligence in smart contracts
– PCHAIN’s smart contracts can be invoked with other non-native tokens (BCH, ERC-20)
– Capability to perform cross chain transactions
Their token called PCH will be used to pay the fees for the smart contract invoking and combining them with blockchain. A total supply is 2.1 billion tokens. The token distribution is as follows: 25% – community and PCHAIN foundation building, 25% – team and early contributors, 20% – sale, 15% – private sale, 15% – POS mining.
The team consists of only 6 specialists, but their experience, knowledge, and blockchain awareness is so great that we recommend that you visit the project website and take a look yourself. The list of competences is so long and impressive that we have no doubts the project is led by true professionals. Only a few words about the founder Dr. Feng Cao. He invented the 1st International Blockchain patent from China, co-founded ChinaLedger, the most influential blockchain alliance of China, performed the 1st Financial Blockchain Transaction in China, won the IBM Global Achievements Award three times, have 22 papers in ACM/IEEE top conference and 30+ international patents. The team is supported by 5 advisors.
This is a new project of a multichain system with a number of unique features including support of Ethereum Virtual Machine. In the end, PCHAIN will allow large scale blockchain applications to be deployed in the system, as well as having such important capabilities as high transaction performance and intelligent smart contracts. The main risk point (though not a big one) we see is the roadmap that seems longer than expected. The core system is planned for Oct 2018, the release of the entire system – Sep 2019. Anyway, PCHAIN definitely deserves your attention.
A new multichain decision for businesses that allows large scale applications to be possible and to work fast and effectively.