With the development of digital technologies such as big data, cloud computing, 5G, artificial intelligence, and augmented / virtual reality (“AR”/“VR”). The outlines of digital creation and digital transactions have become clearer as a result more traditional entities are exploring the road to digital transformation.
At the same time, with the improvement of blockchain technology, more developers are beginning to pay closer attention to the application ecology of blockchain.
With the explosion of the DeFi ecosystem, the problems of Ethereum have become more apparent. For instance, some of the issues include network congestion, slow transaction speed, and high processing fees which have also restricted the expansion of mortgage scale and user scale. The explosion of DeFi on Ethereum has the maturity of objective conditions and some accidental factors (such as liquidity mining). DeFi has officially become the killer application on Ethereum. But long congestion is like a thorn between users and the blockchain network. This kind of waiting and the difficulty of the pending statuses are unbearable for all users. And the high gas fee is even more expensive than the token price. The problem of congestion and high gas fees have frightened entities of a digital transformation.
After more than 3 years of development, the Glass Chain technical development team (Parrot team) has recently built the Glass Chain. Glass Chain is the world’s first compatible commercial public chain, and it has taken the most important step in the exploration of the commercial use of blockchain technology. The Parrot team has a group of top developers who are proficient in blockchain technology architecture, smart contract deployment, and smart contract extension applications.
To expand the public chain technology and smart contracts to commercial-level applications Glass Chain has made the public chain ecology -consumption efficient, it keeps energy cost low, and it is mechanism based. In addition, Glass Chain is self-fissionable to develop, the Parrot technology development team has made great efforts, and is innovative.
The Glass Chain system adopts a characteristic architecture of main chain + parachain, which effectively solves the congestion problem; where, the main chain, and parachain have a clear division of labor. The main chain only does consensus, storage, and operation of the most basic contracts. The main chain has the entire network storage certificate data to ensure network security, facilitate verification, sharing, and supervision. The stability of the main chain can be guaranteed to the entire block’s network stability.
Parachain runs independently in line with smart contracts in the enterprise industry, which stimulates complex ecological roles in the industry. Effective data in the ecology and the main chain are executed simultaneously. The cross chain technology improves the compatibility of the Glass Chain, and the technical framework becomes more flexible.
The parallel chain architecture of Glass Chain is equivalent to “outsourcing” part of the work to reduce the workload of the main chain. In the traditional main chain verification process, consensus is the most time consuming process. When a large number of transactions emerge, the traditional block network intelligently packs the transactions individually, verifies them, and then synchronizes them to the entire network. The efficiency of this sort of process is extremely low. However, the Glass Chain parallel chain architecture even without all participants checking all state transitions, the entire block network can provide comprehensive security and convenient transactions on multiple parachains.
As an example, imagine this: If the public chain is a highway, Glass Chain’s public chain + parallel chain technology is equivalent to expanding the expressway into multiple lanes. And the train tracks achieve dual-track parallel operation, which is more efficient. It ensures that the unique ecology can independently run its own smart contract without intersecting with the main network.
The smart contracts that comply with the entity enterprise run independently on the parachain. The smart contract collection DeCom system independently developed by Glass Chain supports various complex business logic in the enterprise. It is the first in the world to use programming to complete a collection of distributed commercial blockchain smart contracts based on the main business marketing models of global representative companies.
As the leading pioneer to apply the dual public chains’ system to the real economy, Glass Chain has embarked on a new path. Which not only solves the problem of blockchain entities application landing, but also provides a new set of solutions for other internet businesses to transform blockchain companies.
