Hello and welcome to this blog post about Achain ACT White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Achain ACT white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Achain ACT.
I can ensue you that, you will be able to understand every bits and pieces related to Achain ACT after going through the Achain ACT white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
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Achain ACT White Paper
Achain ACT white paper will be going to provide you, all the information that is needed to get started with Achain ACT, including the inspiration for creating, the problem it is trying to solve and the solution proposed by Achain ACT white paper.
Achain Blockchain (referred to as Achain) is committed to building a boundless blockchain world, founded in 2015. Blockchain now is considered as one of the technological innovations of the greatest potential and creativity in the world.
There were three key turning points in the human history: The First Industrial Revolution, marked by machines replacing manual labor, the Second Industrial Revolution, followed by the inter-combustion engine and other mass production techniques, and the Third Industrial Revolution, driven by computer technology, nuclear energy, space technology and bioengineering.
However, the foundation of our relations of production has remained the same: it is still confined into a centralized, top-down, pyramid structure. The more complicated this structure gets and the more levels it generates, the more difficult it is to ensure efficiency. Blockchain, also known as “the value network”, is a decentralized and entrusted network that achieves peer-to-peer value exchanges.
Achain believes that blockchain technology is the innovation to reform the current relations of production and pave the way for the next longawaited revolution in the history of mankind. With the help of Achain, we can create a world where people are directly connected, trusted, collaborative, peer-to-peer-exchanged and value-driven under social consensuses. Achain will accomplish this goal in three phases.
First, we’ll build a secure and stable blockchain network with a modular design approach that will enable smart contracts and digital assets. Smart sandbox will also be used to create an environment for intellectual tests and monitors contractual execution. Sandbox ensures contracts are safe enough to avoid similar DAO incidents1 before being uploaded officially to the chain.
Second, we use forking to meet different business appeals such as insurance, document preservation, cryptocurrency, tracing, personal credit, and more. This phase will lead to an evolving, easy-to-use, low-cost, well-tailored blockchain network.
Finally, through the Value Exchange Protocol (VEP), we will connect these forked and active networks together, and even open up data exchange with other networks (possibly non-blockchain) to build a connected and multidimensional data interrelated internet world. Using multidimensional data such as personal credit, assets, production and consumption data, community consensus, individual behavior, and value exchange will be better integrated organically.
The token, named ACT by Achain, holds the value of its ecosystem. Possessing ACT gives you access to all basic blockchain services such as smart contract release, network forking, and much more. Achain is designed to put safety, stability and scalability in the first place in order to create the ecosystem mentioned above.
Achain, as a public chain, selects the more practical DPoS (Delegated Proof of Stake) consensus mechanism, which occupies less resource and creates a Result-delegated Proof of Stake (hereinafter referred to as RDPoS) consensus mechanism. Under the same security situation, RDPoS better improve the transaction performance of the entire network as well as other parameters of the network as a whole. Theoretically it has reached or even exceeded 1,000TPS (Transaction Per Second).
White Paper Link: Achain ACT White Paper
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