Achain is a public blockchain platform that enables developers of all levels of experience to issue tokens, smart contracts, create applications and blockchain systems. Achain wants to build a global blockchain network for information exchange and value transactions. (1)
Achain will accomplish this goal in three phases. First, they will build a secure and stable blockchain network with a modular design approach that will enable smart contracts and digital assets. A Smart Sandbox will also be used to create an environment for intellectual tests and monitors contractual execution. A Sandbox ensures that contracts are safe enough to avoid similar DAO incidents before being uploaded officially to the chain. (2) Second, they use forking to meet different business appeals such as insurance, document preservation, cryptocurrency, tracing and personal credit. Finally, through the Value Exchange Protocol (VEP), they will connect these forked and active networks together, and open up data exchange with other networks (possibly non-blockchain) to build a connected and multidimensional data interrelated internet world. Using multidimensional data such as personal credit, assets, production and consumption data, community consensus, individual behavior, and value exchange will be better integrated organically. (3)
Achain, as a public chain, selects the more practical DPoS (DelegatedProofofStake) consensus mechanism, which occupies less resources and creates a Result-delegated Proof of Stake consensus mechanism (RDPoS). Under the same security situation, RDPoS improves the transaction performance of the entire network as well as other parameters of the network as a whole. Theoretically it has exceeded 1,000 TPS. (4)
Consensus agreement (RDPoS)
The blockchain network cannot work without consensus. At present, widely available consensus solutions are: PoW, PoS, PBFT and DPoS. Achain selected the DPoS and improved it into a new mechanism named RDPoS (Resulted-Delegated Proof of Stake).
The RDPoS has all the advantages of DPoS. Not only is it unnecessary to consume redundant computing power to get a new block, but also are the execution results of contract able to be verified by agent node or all nodes alternatively, depending on the state of networks. It’s unable to establish the community consensus without incentive, which is usually called token in the blockchain world. In the Achain community, candidates are voted by all the ACT-holders, the top 99 candidates with the highest number of votes will upgrade to agents and get the right to verify transactions in turn. Moreover, by optimizing the consensus mechanism, the members in the group of agents always change. This is important for the network to keep it decentralized.
Achain advocates for proper fork network for two reasons: First, hard forking keeps the network robust; Second, hard fork satisfies different application scenarios. Blockchain network is a kind of social consensus supported by people in the community. When social consensuses change, hard forking will be inevitable. Forking signifies the process of evolution of any distributed autonomous organization, and eventually each survived forking blockchain prove to better solve real-world problems. Ideally different forking network will meet corresponding needs. Although, a forked network may also generate new issues.
Achain sets up its BaaS (Blockchain as a Service), and utilizes multiple programming languages and visualized development to reduce the difficulty of adoption. Anybody could utilize forking network to develop his own application, so as to encourage community innovation.
Value Exchange Protocol
VEP is a cross-chain communication protocol. A single blockchain has its limitation to support so many different applications, but a connected blockchain network could produce overlaid value. The more forking blockchains are connected, the more values are created.
VEP supports two major user scenarios: cross-chain communication and cross-chain smart contract invocation. Cross-chain communication means that smart contracts communicate and invoke with each other, with possible new data creation, which are triggered indirectly by ledger or offline data changes. A simple example of cross-chain smart contract invocation is a cross-chain token exchange, which guarantees an unchanged total value.
When the lock-up program launches, those who wish to participate will be asked to register their address in the program. Participating in the program does not prevent you from moving or selling your ACT. When an airdrop is planned, several snapshots will be taken at regular intervals. You can still enroll in the program even if you missed one or more snapshots, but the missed snapshots will be counted as a balance of 0, lowering your average. There are a few advantages of this approach. Firstly, this approach requires that you show your interest in receiving the reward by manually participating in the program. Secondly, it encourages long-term holding and keeping funds off the exchanges. Thirdly, it lessens the impact made by traders who buy solely for the airdrop with the intention of selling immediately after.
Use of Achain (ACT)
The token, named ACT by Achain, holds the value of its ecosystem. The ACT-holders have the right to involve in the community events, such as creating and publishing smart contracts, accessing network service,voting agents and getting profits as an agent.
30%: ICO; 30%: Early investors; 30%: Foundation Operations; 10%: Team. (5)
Company, team and advisors
Achain was founded in 2014 and owns a technical team of 51+ core members. (6) The Achain Foundation is responsible for Achain’s development, its transparency in administration, and communications within its community network. It consists of a strategy center, a technological development center, a marketing center, and an administration center.
The Strategy Committee is responsible for managing and decision-making of all major events. This might include hiring or dismissing executive personnel.
The Eco-Strategy Center is responsible for Achain’s cross-industry cooperation, especially focusing on forming into strategic partnerships with companies from the fields of Internet financing, ICO, cross-border trading, the Big Data, and AI.
The Development Center is responsible for advancing, testing, announcing, and inspecting basic technologies. Members of the center maintain a healthy communication with contributors regarding progress of projects. This might involve holding regular technology conferences and meetups.
The Marketing & Operation Center is responsible for promotion and communication of new technologies, products, communities, and projects.
The General Administration Center serves for finance, legal affairs, human resources, and other administrative functions.
Soon available, expected: March
Stage 1, Singularity, Smart Contract Network (2014-2016) The first stage is to enhance the Achain network’s security and stability. Smart contracts, digital assets, and sandbox simulations are made available through the methodology of modular design. Stage 2, Galaxy, Fork Network (2016-2017) Achain splits into multiple sub-chains to meet the need for different applications in the reality, more options can be fulfilled by sub-chains within an interconnected, low-cost, user-friendly, and customized blockchain network. Stage 3, Cosmos, Interconnected Network (2017-2018) The BaaS and VEP concept and technology can not only unify the main chain and sub-chains but also connect the non-blockchain realities to the blockchain ecosystem.