What is Chain (XCN)?
Chain is a cloud blockchain infrastructure that enables enterprises to build better financial services from scratch. Chain has launched chain core, a licensed open source blockchain, and sequence, whose ledger is a service product. Customers can get discounts, pay business expenses with chain token (CHN), participate in community agreement governance and obtain advanced functions.
Using chain core, institutions can start and operate a blockchain network, or connect to more and more other networks, which are changing the way assets flow around the world.
The chain protocol defines how assets are issued, transferred and controlled on the blockchain network. It allows a single entity or group of organizations to operate a network, supports the coexistence of multiple types of assets, and interoperates with other independent networks. Chain core is designed for the performance required by modern financial system. The time taken to create, sign, and validate a transaction is in milliseconds.
Sequence is a ledger as a service that enables enterprises to safely track and transfer balances in the form of tokens. Using sequence, organizations can safely manage their financial assets in token format on private books and quickly transfer these assets seamlessly on public networks.
Who is the Founder of Chain?
Chain was founded in 2014 and has raised more than $40 million from Khosla ventures, RRE ventures and strategic partners including capital one, Citigroup, Fiserv, NASDAQ, orange and visa. Chain has previously cooperated with visa, NASDAQ, State Street, Citibank, etc., and is committed to building a blockchain network.
Deepak thapliyal is the current CEO and chairman of the board of directors of chain. Prior to joining chain, thapliyal has been a field investor, engaged in arbitrage trading system in the private work field.
Adam Ludwin was the original founder of chain. Before joining chain, Ludwin studied at the University of California, Berkeley. His career began as a consultant at Boston Consulting Group and IDEO. Subsequently, he received an MBA from Harvard Business School and made early venture capital at RRE ventures, focusing on financial technology. The companies he invested in include vine, slack, KIK and paperless post.
In 2018, chain was acquired by Lightyear Corp., the business department of the Star Development Foundation and the organization behind lumens cryptocurrency. The purchase price was not disclosed, and Forbes claimed that it was equivalent to $500 million paid by lumens.In 2021, chain now operates as a private company with a newly established board of directors, officials and shareholders.
What Makes Chain Different?
The chain protocol is designed as a shared, multi asset, encrypted ledger. It supports the coexistence and interoperability of multiple independent networks of different operators, sharing a common format and capability. Using the principle of minimum authority, the control of assets is separated from the control of account book synchronization.
Chain protocol allows any network participant to define and issue assets by writing a custom “publisher”. Once issued, the unit of assets is controlled by the “control procedure”. These programs are expressed in a flexible and Turing complete programming language, which can be used to establish complex smart contracts.
Each network is guaranteed by an alliance composed of “block signers”. As long as a sufficient number of block signers abide by the protocol, the system can safely prevent bifurcation. To improve efficiency, block creation is delegated to a “block generator”. Any node on the network can verify blocks and submit transactions to the network.
Chain core is an enterprise software product that implements the chain protocol. An open source developer version can be used for free. Chain operates a chain blockchain network as a test network that can be used for free.
Are Coinbase Fees too High?
Abstract: the fees of Coinbase is so high because it is […]
BTC/USD Prices Fell in Asia Pacific Trading as Oil and Metals were Auctioned
Key Points Although the US economic data were encouragi […]
Goldman Sachs Downgraded Coinbase’s Stock to “Sell” , Share Price Fell 10%
Goldman Sachs this morning downgraded the rating of Coi […]
Believers of Celsius Crypto Have a Plan to Avoid Bankruptcy
From the source, a potential solution is that Celsius w […]
LUNC Crypto. Why Investors Still Put Money into this Coin?
Wealth? Power ? Or a combination of any of them. These […]