The ParallelChain infrastructure is designed for a multitude of real-world use cases, such as minting and trading NFTs, DEX (decentralized exchange) protocol development and deployment, tokenization of games, the development of DeFi and dApps, and more.
ParallelChain 5 key point overview:
- ✔️What is ParallelChain
- ✔️Who founded ParallelChain
- ✔️Features of ParallelChain
- What to expect
- What makes ParallelChain Unique
What is ParallelChain
👉 It is a base-layer technology that offers 2 layer-1 platforms that can be used to access either the public mainnet or private networks.
👉 All networks are interoperable and connected through Inter-ParallelChain Communication (IPC), which is a secure, tamper-proof private channel on the ParallelChain network.
👉 ParallelChain is focused on addressing some of the most common issues faced by enterprises today and applications and protocols are already in the process of being developed to overcome cyber threats, the risks of data leaks, KYC (Know Your Customer) data management, slow settlement times, a lack of workplace accountability and the loss of data.
Who founded ParallelChain
👉 Ian Huang is the founder and CEO of ParallelChain, which is directed and managed by a team of 19 professionals who are responsible for research and development, business management, product development and software engineering.
👉 There is also a team of 7 reputable advisors from major tech companies.
👉 Before Ian founded ParallelChain, he founded XNET Technology and he was previously employed at companies like Tektronix and Raytheon.
👉 He is a well-respected technologist and entrepreneur and made massive contributions to several technological inventions, such as multi-tasked Operating Systems, semiconductor design, TekDOS CPU design and network protocols.
Features of ParallelChain
👉 The ParallelChain private network is built for business and can process up to 120,000 transactions per second with a 3 millisecond confirmation time.
👉 The ParallelChain Mainnet can be used for the development and deployment of decentralized applications and is a layer-1 public blockchain that can handle up to 80,000 transactions per second with low fees.
👉 ParallelChain is compatible with WASM (WebAssembly) and EVM (Ethereum Virtual Machine) and can power NFT platforms on a large scale, allowing users to mint and trade NFTs at extremely low fees.
👉 This blockchain is also designed to process complex gaming logic using high-performance smart contracts, and also allows the gamification and tokenization of applications.
👉 ParallelChain also provides advanced smart contracts that can be used to develop DEX AMM (automated market maker) or orderbook-based protocols, and can be used to develop and deploy a variety of decentralized applications with many use cases.
The core features of ParallelChain are:
➡️️ the PreventiveChain,
➡️️ the eKYC-Chain,
➡️️ the ChattelChain,
➡️️ the ApprovalChain
👉 ParallelChain has made major breakthroughs in data leak prevention and anti-counterfeit technologies, supply chain management solutions and RegTech (regulatory technology).
What to expect
👉 Over the course of the year, ParallelChain will be working on the ParallelChain Open Delegation, Inter-ParallelChain Communication (IPC) systems and Inter-ParallelChain Proof-of-Immutability (IPoIM) algorithms.
What makes ParallelChain Unique
👉 In a world where the demands of businesses and consumers are constantly changing, the need for flexible, future-proof technology is imminent.
👉 ParallelChain offers highly scalable, enterprise-grade solutions at a global scale for the most prominent use cases that businesses are faced with today and also allows the creation of protocols and smart contracts, NFT minting and trading, and the development of dApps for public use.
👉 What we like most about ParallelChain is that it is a blockchain built for blockchains, and it is a blockchain for the future.
👉 With so many use cases considered and several major challenges already addressed, we look forward to seeing how ParallelChain will unlock the true potential of blockchain for enterprises, businesses and entrepreneurs.