Guys, I welcome you and wish you a great day! Many of us have already become familiar with blockchain technology or have heard something about it, which helps to transfer values through the Internet safely, while recording everything in the general register and leaving the user anonymous. And people began to use bitcoin, buying various goods and services from each other, then joined some stores, corporations, this blockchain is called 1.0. The technology has gained fame, many people are on their lips and are glad that it helps to eliminate intermediaries in the form of banking and electronic payment systems, send any amount, see transactions, store funds in a decentralized manner.
Then the genius Vitalik Buterin launched a network based on smart contracts, which allows to create decentralized applications and simplifies the introduction of blockchain technology in various activities, this began to be used by many businesses, startups, enterprises and to conduct their token sales. Here you can enter into any transactions with assets without resorting to traditional legal procedures. The cryptocurrency of this network is Ethereum and this technology has gained great popularity, which is confirmed by the increase in the token price by almost 195 000% for today! Ethereum was awarded the title of blockchain 2.0.
Their advantages have attracted a large mass of people and stakeholders in major companies that led to the mass use of digital money and identifying problems of these innovations in the form of congestion transactions, increased fees for the operation, but initially it was also one of the important advantages, for example, I recently made exchange Ethereum to Fiat money and the commission was about $ 7, it's a large number, was also hold for three days.
And in order to improve the bitcoin bandwidth, the Lightning Network is being developed and tested, which will help to surpass large payment systems. And in order to improve the bitcoin bandwidth, the Lightning Network is being developed and tested, which will help to surpass large payment systems. Its main purpose is to carry out micropayments in bitcoin and other cryptocurrencies and thus unload the network. It configures separate networks between two participants in the main network, internal operations are not recorded in the blockchain, but only stored within the communication channel. Only the points of opening and closing of the channel with the initial and final deposits are fixed, and transfers made in this channel are not recorded in the blockchain, which removes the congestion. This technology is called blockchain 3.0.
As you can see, these innovations are changing, being improved, new shortcomings are revealed and this gives impetus to the development of new ideas! I will highlight such problems as the inability of different blockchains to work with each other. But I think this issue, and the rest will be able to solve a startup called Seele.
The project plans to create a new value system on the Internet and help existing blockchains interact with each other using a highly scalable consesus protocol Neural Consensus, which will be able to provide high performance, parallel operation between large nodes consisting of two or more platforms. This is really not enough, you have to constantly resort to exchange, run from one exchange to another to buy the necessary tokens. Thus, programmers have set the task of creating a special cryptographic system with many functions.
Behind the idea is a group of developers, consultants and financiers, here are some of them: the author of eight development patents in the blockchain technology Dr. Wei Bi; senior blockchain engineer and software engineer Microsoft Qiu Bo; founder Of the Chinese blockchain Association and digital money expert Dr. Gong Hui.
What can help their development:
- speed up the network from 33% to 40%(comparison with the Byzantine agreement, you can find it here https://en.wikipedia.org/wiki/Quantum_Byzantine_agreement);
- increase scalability for a large number of applications, resource efficiency and sorting nodes of a large scale-it helps to do Heterogeneous Forest Network;
- use a low-latency Internet connection, these are protocols such as TCP / UDP;
- the use of VTP, which is responsible for unique identification and is used in the strategy of opening digital assets is created in a heterogeneous network architecture and VHTTP Protocol, which is used in the exchange of assets between block and non-block networks.
The team is actively working on the development and is involved in many activities, they recently turned to the HADAX exchange, which is the brand of the largest stock exchange in China Huobi. This month plans to launch a test network, in the experimental environment has been achieved 3000 TPS. This ecosystem will allow you to make transactions on the Internet more economically, faster and safer.
I invest in digital assets and already understand a little that the development of blockchain technology brings huge benefits to people both in terms of improving their financial situation and life, reducing intermediaries in many operations, protecting personal data and the possibility of obtaining additional income from them. The Seele project will significantly accelerate this process several times thanks to its team of professionals and strong community
If you want to get even more information about the opportunities that this project gives, then follow these links below: