June 2021, the cryptocurrency market continued to rise and fall, speculation gradually disappeared under the circumstance of the return to rationality, and the market is achieving this value-led change. Recently, many authoritative media, such as newsBTC, Yahoo Finance and Techbullion, have focused on the omnipotent public blockchain Thinkium, and made detailed reports on each branch of the Thinkium technology system and the prospect of ecological construction.
Thinkium’s future ecological landscape aims at the next stage of blockchain. After the wave of DeFi, Thinkium is willing to become a public blockchain infrastructure aiming to facilitate Internet-level large-scale applications and bridge the physical world and the digital world to launch the era of Web 3.0.
A new consensus mechanism called the Themis network
Yahoo Finance, the world’s leading financial portal, reported on Thinkium’s Themis network consensus mechanism, which was forwarded by Morningstar and other well-known media.
Themis Network, a comprehensive governance mechanism, is based on the governance mechanism involving all network users. Each user voting (referendum) has a corresponding specific “proposal”, which is a transaction to be executed. However, the execution of such a transaction is not by verifying the signature, but by the verification of the referendum result.
Different from other public chains, the proposal in the Themis Network of Thinkium is a transaction to be executed, which is similar to the governance of Compound and other protocols. It can greatly simplify the governance process and does not need to vote on the same proposal repeatedly.
A fair community environment is established through the Themis network, a management mechanism that enables votes from all users.
Thinkium solves the current problems of public chain
According to the reports of Crptomod, Kenkarlo and other blockchain technology media, various problems existing in the public chain, including “Impossible Trinity”, “Isolated Data Island”, as well as “build chain difficulty, across the chain difficulty, extend chain difficulty” and other problems, have been solved in Thinkium’s technology accumulation for several years.
- In terms of the Decentralization aspect, the Thinkium public chain uses consensus protocols to ensure that the same content runs on different computing nodes and allows any node to join without permission. Moreover, there is no such thing as a supernode on the Thinkium public chain.
- In terms of the Security aspect, if a clear misbehaving node is detected on the Thinkium public chain, it will be aborted by exporting an empty block in this cycle. Nodes that misbehave will incur substantial economic penalties, making this attack unsustainable.
- Low-cost chain construction & security synchronous improvement – you can use the existing infrastructure of Thinkium public chain to quickly build your own public chain
- Cross-chain interoperability & powerful network effect -”Aplati Tree” flat Tree chain structure, which can greatly improve cross-chain efficiency.
- Unlimited Extendability & Unlimited Possibilities – Unlimited performance expansion through layered multi-chain, intra-chain sharding and sub-chain interworking, with a TPS of 100,000+ at present.
Different from dfinity’s hierarchical multi-chain structure, Thinkium public chain is divided by chain from the network, storage to consensus. With Multi Chain consensus protocol structure, Thinkium public chain can truly achieve safe and reliable performance expansion.
In addition, the four-tier system architecture and consensus protocol structure designed by Thinkium will also effectively help the future scalability and iterative upgrade of the system.
Node operation mechanism helps to achieve decentralization and security
According to Edtimes, Thinkium’s node operation mechanism helps to solve the problems of decentralization and security.
Thinkium public chain can dynamically increase or decrease the number of chains according to the actual needs of ecological applications, which can effectively solve the scalability problem of the public chain.
The data nodes in each chain work continuously and stably in this chain and are responsible for data storage and communication. They are rewarded by TKM issued by the system, but they do not participate in consensus block.
The consensus nodes in the system are all in a “candidate area”. In each round, some of the consensus nodes are elected to a certain chain by the random algorithm to participate in the work of packaging consensus blocks in this chain and get TKM rewards from the system. After one round, all consensus nodes return to the “candidate area” and wait for the next round of elections.
In this way, it becomes uncertain whether each consensus node will participate in the chain work in the next round of elections. Because the consensus node may or will not be selected and will continue to stay in the “candidate area”. This can effectively solve the problem of decentralization and security.
Aim at the next generation of blockchain and build business ecology
The financial industry is the most digitized field. DeFi project, with smart contracts, perfectly bind the financial business involved in the amount of assets pledged, trading volume and commission rate to the issuance and value growth of the project’s own digital assets.
However, DeFi still has a potential risk. Whether the digital assets packaged inside DeFi are healthy or not is uncertain.
Therefore, the problems of digital assets in the 1.0 era are not truly solved in this era (2.0 era). Instead, it is overshadowed by the prosperity of DeFi. Everyone is immersing in the carnival of building financial Lego and the inner core problems have not been paid attention to and resolved.
In order to completely solve problems, DeCom has added the link of “business data and rules on the chain” on the basis of DeFi. Each business entity is actually “listed” when it joins the blockchain network. It is because all the people can directly see their business data and rules, which are transparent and unmodifiable.
Digital assets will be generated with the growth of the business (commercial mining). The value of digital assets can be easily distinguished and clearly measured by the future value and the development trend of the business entity.
With the increase of commercial credibility, commercial digital assets will receive a premium of commercial credit on the basis of DeFi, which in turn will further promote the rapid growth of the business entity. This is similar to that a listed company can use the asset premium that everyone brings to its business growth and credibility, to accelerate its development. Moreover, it can further expand and consolidate its business. In the future, each commercial entity on the chain will enjoy the benefits of the blockchain.
Based on the underlying secured consensus network of Thinkium, any user can build and customize the industry public blockchain for their own businesses. Based on the unique features of Thinkium’s main chain, such as low cost, high-efficiency cross-chain, unlimited performance extension, and high concurrency of complex contracts, the applications of industrial public chain can also be infinitely extended, gradually filling the gap between the physical business world and the digital world to launch a new business world of Web 3.0.
Up to now, there have been dozens of commercial projects on the Thinkium public chain are running.
In the early interview by NewsBTC, Milen, chairman of Thinkium foundation, said: “In 2022, the first sub-chain of Themis network will be built, the DeFi infrastructure, the decentralized commerce infrastructure and the decentralized metaverse infrastructure will be running.”
How to integrate the digital world and the physical world is the next stage of the public blockchain and Thinkium itself aims at the next stage indeed.
