#genesispublicblockchain

[genesischain]

Genesis Blockchains Comic series — What is smart contract？

[genesischain]

Huobi Ventures is approaching Genesis Chain

Huobi Ventures showed great interest in Genesis Chain and recently in further contact with the representatives in Austin.

Huobi Ventures paid great attention to infrastructure projects. As the public blockchain in Decom, Genesis has done the excellent work filling the gap between blockchain technology and traditional business. Huobi seeks to support and nurture the development of core technologies in the blockchain industry.

Huobi Ventures is the global investment department of Huobi Group. It has four functions including strategic mergers and acquisitions,strategic investment,asset management and external cooperation, and manages multiple special funds.

[genesischain]

Genesis Comic Series, Vol.58 to Vol.61！🚀

Find Out The Origin of the Two-tier Composite System of Genesis! 🔄

💎Get to Know How to Get Your Genesis Block Reward!

[genesischain]

Genesis Revolutionizes Scalability

From the initial Bitcoin, Ethereum, DeFi, NFT, Metaverse to this year's Web 3.0, new things are emerging in the blockchain industry, and more and more users and enterprises are getting involved, so the blockchain development wave is unstoppable。

However, with the growth of blockchain ecosystem and application, there are more and more operations on the chain, and congestion has evolved from a "small problem" to a "big pain point", which is holding back the development of the whole blockchain.

If the future is to use blockchain to build a value network, it should be able to perform at least as fast as the current real-time data processing speed of the entire Internet information, including 2 million emails per second, 65,000 Google searches, 72,000 Youtube videos, and so on.

However, currently, Bitcoin can only process about 7 transactions per second and Ethereum can process around 15 transactions per second. Although some public blockchains in recent years have improved their performance over the previous ones, there is no single blockchain that can accommodate all the ecological applications by itself.

Therefore, although more and more blockchains are getting better and better set up, they have become "information silos", isolated from each other. If these chains can be interconnected, then not only the on-chain scaling can be more ideal, but also the development of the whole blockchain can be greatly promoted.

In order to achieve asset flow, information interoperability and application collaboration between different blockchain platforms, cross-chain technology was born. Twitter's Lightning Network, which supports the "bitcoin payment" reward function, is one of the applications of cross-chain technology, improving the transaction speed and usefulness of the bitcoin network.

Genesis is focused on improving information processing performance, working to unblock congestion and reduce Gas effort, and paving the way for Web 3.0 infrastructure and the massive data transfers of the future metaverse. It strives to achieve speed and scalability improvements, resulting in a high-speed, stable, low-Gas-fee public blockchain.

This means that in Genesis, different blockchains on different protocols and blockchains on other networks can view, access and share information with each other, breaking the information "silos" between different blockchains, achieving interoperability between different blockchains, and accommodating most of the ecological applications to some extent.

Each protocol in the Genesis ecosystem stores different types of data and transaction information, and the interoperability of Genesis system enables blockchain users to share and access their data across platforms, protocols, and the entire network. interoperate across the entire network.

In addition Genesis ecosystem was developed before the Genesis team was well aware of the need for its system to achieve faster speeds and greater scale. Therefore development studies were conducted specifically to address issues such as speed and scaling to ensure global adoption by individuals, governments and international organizations, to facilitate the practical application of public blockchains.

The evolution of the blockchain scalability upgrade is fascinating, and Genesis gives us a technical template in terms of decentralized scalability, so let's wait and see the revolutionary enhancements it brings!

[genesischain]

Genesis Comic Series, Vol.54 to Vol.57

New round of technological #revolution🤖 Genesis is A new business concept!

[genesischain]

Genesis Comic Series, Vol.50 to Vol.53

Genesis can adapt to diverse business needs！

[genesischain]

Genesis Explores Balancing Blockchain's Impossible Triangle

In a short span of 10 years, blockchain has gained global recognition and is widely used based on the fact that the underlying technologies it incorporates are all very mature.

The basic technologies of blockchain include hash computing, digital signatures, P2P networks, consensus algorithms, and smart contracts. However, even if these mature technologies are fused in blockchain, it is difficult to avoid the problem of "impossible triangle" which is "inherent".

The "impossible triangle" of blockchain refers to the inability to meet the three characteristics of decentralization, security and scalability at the same time.

Decentralization: A blockchain can operate without relying on any trust from a small group of large centralized players.

Security: A blockchain can resist attacks being launched against it from a large portion of the participating nodes.

Scalability: A blockchain can handle more transactions than a single conventional node can verify.

No project in the design of a blockchain can satisfy all three of these characteristics at the same time; being able to satisfy two of them is considered excellent. Almost all blockchain projects suffer from the "impossible triangle" problem. Likewise, almost all blockchain projects are constantly seeking to break out of this conundrum as they evolve.

Bitcoin sacrifices performance characteristics to meet the design requirements of decentralization and security; Ethereum optimizes "scalability" through PoS consensus and sharding technology; Genesis development team optimizes for decentralization and high TPS to solve the scalability problem. Consensus mechanisms are optimized at the protocol layer to enhance security, and smart contracts are optimized at the application layer to improve business flexibility and convenience.

In addition, Genesis cross-chain technology can connect to mainstream public blockchains (Bitcoin, Ethereum, etc.) and complete asset exchange without changing the original blockchain mechanism. It can realize the functions of transferring digital assets from the original blockchain to Genesis, transferring them back to the original blockchain from Genesis, and trading multiple assets on Genesis to ensure the security of cross-chain trading assets and the stability of cross-chain trading services.

It is almost impossible for blockchain to be completely efficient, secure and decentralized at the same time, but the three can give way to each other to achieve a certain degree of balance. Genesis explores balancing the relationship between the Impossible Triangle and optimizing each part from the perspective of user requirements.

[genesischain]

Genesis Comic Series, Vol.46 to Vol.49

Stable tokens can be used as general equivalents in Genesis ecosystem. Also virtual computing power to be discovered~!