TrueChain brings new meaning to a decentralized blockchain, and for that matter, an entirely open-source and transparent company; proving for the first time that data and information can persist on a blockchain safely, whilst being completely transparent and secure using a hybrid consensus mechanism. To summarize, TrueChain seeks to resolve the conflict between efficiency and decentralization for public blockchain.
By utilizing an fPOW/PBFT consensus mechanism, TrueChain will allow for several optimizations where current public blockchains are lacking. Firstly, this hybrid mechanism aims to solve processing efficiency while maintaining decentralization. PBFT allows for fast TPS, from 10,000- 100,000 while the fPOW verifies the transactions on the back-end to prevent bottlenecks in the system (think Crypto Kitties). POW Consensus would be considered the first generation of public chains, a chain that serves one purpose and follows one consensus model. The second generation would be ETH, EOS and others that have things like smart contracts and the ability to support multiple tokens/coins. We are entering the third generation of blockchain in which public blockchain is supported and made relevant through the production of utility on the blockchain itself. TrueChain aims to be that third generation public blockchain.
One of the terrific things about TrueChain is everything they are doing is already open-sourced and their ultimate goal is to open-source the entire company. As a developer, you can visit their Github and make edits as quickly as today! They have over 500 community developers that have contributed thus far. From a community-member standpoint, join their Facebook, Telegram, and follow them on Twitter amongst other social media outlets. All relevant links will be posted at the end of this article.
TrueChain has followed their roadmap to a “T” and by taking another look at it, there are some extremely exciting things coming around the corner such as the mainnet integration as well as implementation. Their Light wallet is already available, along with other products such as Stellar, which provides a convenient, stable and efficient smart contract development platform for commercial Dapp developers. Developers can manage the whole life cycle of contracts. They have also created their Dapp Warehouse which is a user-oriented Dapp downloading platform, as well as TrueScan, which acts as TrueChain’s browser, provides contract monitoring, transaction statistics, book search, privacy protection and other services to nodes.
Taken from TrueChain’s whitepaper, you can see their technical architecture which from a bird’s eye view:
100mm tokens minted. Image taken from TrueChain’s whitepaper:
The allocation to the team also includes quite a long vesting period, which shows that they truly believe in the project and are in it for the long-haul. The following information can be found in TokenChain’s whitepaper:
“TRUE allocated to TrueChain’s team will be restricted by the long term weighting schedule, and the specific contact rules are as follows: A. 20%, or 3000000 TrueChain Currency (TRUE), is released after 3 months of token distribution. B. 25%, or 3750000 TrueChain Currency (TRUE), is released after 12 months of token distribution. C. 25%, or 3750000 TrueChain Currency (TRUE), is released after 24 months of token distribution. D. 30%, or 4500000 TrueChain Currency (TRUE), is released after 36 months of token distribution. At this point, TrueChain Currency allocated to the TrueChain”
- Hard Cap: $12mm
- Soft Cap: $2mm
TrueChain brings a fresh perspective on how a blockchain can and should operate. With state-of-the art integrations such as sharding optimization along with fPOW/PBFT this allows for a true use-case behind the blockchain itself. The open-source and decentralization aspects of the project is fantastic, especially when one of the goals of the company is to open-source everything about the company itself!
From a community perspective, TrueChain has a strong following with 5k Telegram followers and nearly 25k Facebook followers. Be sure to check out all their social media sites, links to which can be found here.
TrueChain Website: www.truechain.pro
TrueChain Whitepaper: https://www.truechain.pro/Truechain_en.pdf
TrueChain Twitter: https://twitter.com/truechaingroup?lang=en
TrueChain Medium: https://medium.com/@truechaingroup
TrueChain Reddit: https://www.reddit.com/r/truechain/
Telegram Group: https://t.me/truechainglobal
Facebook Group: https://www.facebook.com/TrueChaingroup/
Thank you all for your time and make sure to do your own research on the project, starting with the links referenced above. We appreciate you following CCINews and hope you enjoyed this article!
Written by Ben Leff
* This is a sponsored post and does not constitute financial advice, nor an official recommendation from CCINews.net, or its affiliates *