2021 Public Chain Competition Track, how does Vast Public Chain Curve Overtaking
Public chain development situation
Looking back at 2020, the blockchain industry is developing extremely rapidly. As the infrastructure of the blockchain industry, public chains have made progress in scalability, privacy, and cross-chain.
For Ethereum, the king of public chains, the launch of the mainnet of the Ethereum 2.0 beacon chain on December 1, 2020 is an extremely important milestone. The rising star Polkadot has also made a lot of progress. Since the release of the first candidate chain Polkadot CC1 on May 26, 2020, the Polkadot mainnet has entered a phased release state. At the end of last year, the Polkadot parachain testnet Rococo-V1 was launched and running. , Which means that the Polkadot Parachain Slot auction is imminent. The mainnet of the star project aelf was officially launched on December 10, 2020, and the first sidechain was also deployed on the aelf mainnet on December 25. Its multi-chain structure has been operating stably for some time. On January 6, the veteran project DFINITY announced that the mainnet will be launched on December 18, 2020, which means that the Alpha phase of the Internet computer mainnet has officially started.
It is enough to see that in the second half of 2020, the public chain battle has become fierce and has now entered the stage of stock game. In the context of the game, how does the Vast public chain realize overtaking in corners?
At present, Bitcoin has dominated the market, and Ethereum has basically become the big brother of the public chain track. Other projects are trying to solve the current problems of the two public chains. In particular, the explosion of DeFi applications in 2020 has made Ethereum network congestion, insufficient performance and other defects more prominent. Therefore, infrastructure upgrades are the top priority for Ethereum. However, due to the fact that Ethereum 2.0 has not yet been implemented, and the difficulty of sharding technology is complicated, more attention has turned to more potential public chain projects.
Vast public chain vision
Vast public chain provides a safe, stable, and efficient underlying service platform for every community user. It builds network security from the application level, and abandons human intervention from the service. At present, the global business’ demand for deep integration of decentralized finance is increasing. In 2021, Vast, which is on the cusp of the times, will continue to evolve itself and promote the application of blockchain technology to a wider range of industries, including finance and public Services and other scenarios.
Vast was initiated by Profund, a senior foundation in Singapore. Its core technical team has been in the blockchain industry for more than seven years and has mature public chain and DAPP development experience. Committed to building the underlying basic public chain of decentralized application ecology, it adopts the original VPOS consensus mechanism and introduces RUST to solve the basic problems faced by traditional application chains such as slow transmission speed.
It aims to help enterprises and individuals build Defi and smart contract construction of chain reform ecology, realize customized contracts, and provide unique identifiers, assets that comply with standardized naming conventions.
Break the centralized system of traditional financial and entity applications in various industries, remove the competitive advantage of centralized central nodes, and build a decentralized financial and traditional industry application ecosystem. Eliminate monopoly and inequality and build a smart trusting society. Restructure financial infrastructure, tools and derivatives, reduce intermediaries, and save a lot of intermediary expenses and operation and maintenance costs.
In financial areas such as asset securitization, cross-border payment, supply chain finance, digital bills, etc., it is separated from the current institutional constraints or credit endorsements of third-party institutions to directly realize the value exchange between the two parties, effectively reducing transaction costs, improving transaction efficiency, and eliminating transactions The artificial interference factors in the system prevent any party’s denial. Efficiently allocate resources to achieve uninterrupted and high-speed growth of assets; at the same time, re-optimize the process to provide the creation of customizable blockchains for applications in various industries in the real economy, and support rapid and efficient development of ecological applications on the chain, thereby substantially promoting The level and depth of blockchain practice in various industries has comprehensively promoted the establishment of a blockchain economic system.
Vast public chain technology advantages
Vast uses the distributed accounting and sharding technology of the blockchain and the original VPOS consensus mechanism and algorithm to effectively encourage community members to participate through smart contracts, and Kaiyuan all codes and data are completely decentralized to establish a trust foundation. This establishes a highly autonomous self-organized community, builds a community consensus and an autonomous community.
Driven by Compound’s first “liquid mining” in 2020, the Decentralized Finance (DeFi) industry has suddenly seen a surge in development. Industry practitioners, investors and project parties have become more mature, laying a more solid foundation for the accumulation of decentralized financial markets. Many decentralized financial applications have gradually landed, and many non-cryptocurrency users have also begun to use and enjoy it. The convenience brought by centralized finance has subsequently injected new funds and flows into this emerging field.
At present, it is difficult for Ethereum’s existing TPS to support financial-level applications. The cryptocurrency industry has formed a consensus that it is necessary to build a public chain focused on the financial sector to solve the various problems faced by the current decentralized financial market track. Vast public chain was born from this and entered the public chain competition track .
Technically, Vast adopts dual public chain technology to establish an IP protocol in the blockchain world. By unifying and abstracting the interfaces of each blockchain, it provides a multi-language smart contract operating environment and completely decouples the underlying chain and smart contracts. Realize cross-chain Turing’s complete smart contract universal blockchain platform, using VPOS consensus mechanism, consensus is drawn through probability conclusions, and only participate in the resolution of consensus when conflicting transactions occur. Fragmented networks can achieve high levels of throughput, and the core mechanism is based on random sampling and metastable decision-making.
Decentralized finance has become a market development trend, and public chains are a booster for the rapid development of DeFi. The Vast public chain has stronger advantages both at the technical level and the user level. In the face of the current mature public chain ecology in the market, we will wait and see how the Vast public chain curves and overtakes!
