If 1% of the world had known about Blockchain and Bitcoin in 2018, I am sure by now over 20% would have. Recently, President Trump tweeted about cryptocurrency, bitcoin and blockchain and this has generated a lot of controversy. That has been a big news for crypto space, be it negative or positive. What it means, more people are now aware and more want to know about it. Consequently, the positivity of the blockchain application cannot be over emphasized, even the US government are gearing up in exploring the blockchain technology. Blockchain to a lay man might mean an abstract computational process but if it is applied in our everyday life they would understand it. Blockchain simply means group of computers that analyses data and confirms it. But the whole essence now depends on what data. The first blockchain was designed as a cryptocurrency called bitcoin. But over the years with increase in research and technology it has shown that blockchain can be applied in our everyday activities including medicine.
The real technology behind blockchain is the ability to be open, transparent and trustless. What makes it so depends on the number of nodes that agrees on a consensus and approves the cryptographically information or data giving to it. This consensus algorithm confirms the correctness of the data and validates it. This can spam over different nodes (computers) before the transaction or data is validated. However, this has come with its own backdrop of scalability (range of capability) where transactions or data can take longer time to validate or confirm. Making some blockchain having the higher capability or higher TPs (transactions per sec). New studies has shown there other computational processes that can increase scalability and TPs and one of such is Verifiable Computation (VC).
THE PlatON CONCEPT
So PlatON is one of the first to use VC to confirm its transactions. VC allows a node to computational confirm a transactions in just one node cutting of the numerous consensus of using several computers/nodes to verify a transactions. Blockchain process has shown to consume so much energy and electricity. With VC all these are reduced tremendously. Also, increase verifiability, TPs, scalability, correctness and privacy of data. PlatON platform will also use secured Homomorphic Encryption (HE) and Multi Party Computation to keep transactions safe.
So it is safe to say that the PlatON platform will create a background for decentralized Apps to be built on it for high efficient transaction that will be trustless, verifiable scalable and private. Allowing a sharing economy for all.
If you are developer of dApps you will love PlatON. Know more here.