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ETCS creates blockchain network to deal with five major challenges

COINS since its birth in 2008, as a prototype derived block chain technology, numerous technology enthusiasts to participate in contribution, is accelerating into multiple areas, it brings is not only to promote the efficiency of technology, as well as commercial breakthrough. Although the industry is thriving, industry insiders believe that the blockchain faces many challenges, both in terms of technological innovation and commercial applications.

It is understood that the application of block chain technology is becoming more and more diversified, and its untamable bookkeeping, transaction settlement and other functions are being duplicated in many fields. Many application scenarios can now be implemented with block chain technology, and for traditional institutions, there is a certain increase in operating efficiency.

  

The main challenges of blockchain are: first, there are still security risks in smart contracts, and hackers can use loopholes to steal users’ digital assets.Second, the blockchain platform established by different application targets has compatibility problems with each other. Third, although people have discovered and tried the information interaction between specific chains, this partial solution is not enough to support the whole block chain ecological development. The fourth is the lack of interaction between the blockchain and the physical world, so that many application innovations have to be carried out in the form, such as product traceability; Fifth, the current blockchain application still has a high technical threshold, which leads to the high cost of large-scale commercial enterprises; There is a performance bottleneck in the blockchain, and the performance of distributed system is still difficult to catch up with the central system. In other words, it is difficult for distributed system to realize large-scale commercial operation.

 

Ethereum Cash (hereinafter referred to as ETCS) came into being when the development of blockchain was affected.ETCS puts security, stability and extensibility first in design. By introducing modular virtual machines, smart sandbox, value exchange and bifurcation mechanism, we can create a blockchain network with continuous evolution, easy to use, low cost and moderately customized. In addition, the ETCS can theoretically reach the usable performance of 1000TPS through the optimization of block spacing, block capacity and consensus algorithm. ETCS believe that, through the technological innovation will be able to resolve interpersonal trust, also can create a new production relation network, to better the community consensus, individual behavior and value exchange organically integrated.

 

Based on OuKuai Lian (blockchain) and smart contracts, ETCS can extract a wide variety of cryptographic currencies in more than 1,000 offices around the world. The mainstream use of smart contracts will require a new architecture solution that combines the blockchain with more traditional technologies (web applications, public APIs, and so on).

In recent years, the Ethereum area chain has gained a lot of attention, and many companies have decided to use it to develop their own projects, while leveraging the extreme flexibility provided by the Ethereum’s “smart contracts”. This has led to an increase in the value of the Ethereum currency, but at the same time, in terms of commitment, user applications have not yet developed synchronously in terms of availability and security levels. This is because the Ethereum is a highly experimental technology that is still incomplete and is growing rapidly. In addition, the “account-based” approach enabled by Ethereum is very weak in other areas, especially in terms of privacy. The goal of ETCS is to use the technology currently in place to provide the best possible experience for the user, to try to fill the major gaps in technology, and to follow and adapt to the development of the platform.

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