11, Th4 2023
Focusing on the invisibility of the financial transaction field, BIKING Exchange announced the latest content of the performance public chain
With the emergence of DeFi, the rise of NFT, and the popularity of Metaverse, an ancient concept will be brought up for discussion in every new explosive period, and that is the public chain.
Taking the DeFi period as an example, the prosperity of DeFi indirectly gave birth to the prosperity of the public chain market. As the main position of the DeFi ecosystem, Ethereum has gradually changed from being the only one to a hundred schools of thought. Each public chain relies on its own advantages to attract a variety of DeFi choices. .
The public chain is the most basic underlying facility in the encrypted digital world. It can be said that it is the foundation of carrying all digital applications. Regardless of the birth of the original Bitcoin or the maturity of the future Web3.0 world, what we see is ecological Continuous progress, what is not seen is the iterative upgrade of the public chain technology behind it.
In the initial stage of Web3.0, various public chains in the market can still provide good support for their ecological applications. However, with the continuous maturity of the Web3.0 system and the continuous increase in the number of users, the transaction volume has exponentially increased. At that time, whether the performance of the public chain is feasible will be marked with a question mark.
BIKING Coin King is currently building the Web3.0 platform version, fully aware of the importance of the public chain to its ecological construction, so at the same time, it will develop a new performance function into the current platform planning, although it directly chooses the mature one in the market The public chain will be easy in the early stage, but the widespread lack of overall functions (such as the chain is too transparent and lacks privacy, the transaction is stuck, and the consensus mechanism is not environmentally friendly) is difficult to perfectly support the application of Web3.0 scenarios.
As the BIKING performance public chain has entered a new stage of development, more development details have been gradually disclosed by the official. Among them, invisibility is the core point of the BIKING coin king. Its existence makes transactions in all links of the ecology All conceal security, and truly implement the concept of Web3.0 inside and out.
BIKING, the guardian of the night in the public chain
Concealment – is one of the most eye-catching features of the BIKING Coin King public chain. Through several innovative zero-knowledge proofs Plonk, Marlin and BulletProofs, BIKING Coin King can cover some simple transactions. At the same time, for some complex financial scenarios, BIKING Coin King can also easily provide privacy support, such as solvency proof, whitelist asset proof, solvency proof and other scenarios, which can take into account both privacy and auditability.
Although the blockchain model itself is characterized by anti-censorship, but in order to further integrate with the traditional world financial system and smoothly transition to Web3.0, then compliance review is important. It is true that BIKING took into account the importance of compliance in the operation of the early contract platform, so in the development of the public chain, it also integrates both concealment and compliance, taking into account the needs of the ecological environment and the actual regulatory requirements.
In addition to strong concealment, BIKING Coin King’s zero-knowledge proof technology and RSA cryptography accumulator also provide BIKING Coin King with the characteristics of high burst and low transaction costs. Currently, the TPS of BIKING Coin King’s main network is the highest in the first round of tests It can reach 8000+, and this is only the initial single-environment test.
The innovation of BIKING is not only reflected in the privacy features based on multiple zero-knowledge proof systems, but also in the optimized account mixing model and BVM virtual machine.
Optimizing account mix model
UTXO is a way to calculate account balances in the Bitcoin network, which can well avoid “double-spending attacks”, and the system security is more reliable and privacy-friendly. However, with the increase of transactions, the UTXO data stored will become a burden, and the compatibility with smart contracts is poor; blockchain systems such as Ethereum mainly use the account model as the main way to record account balances. Compared with UTXO, accounts The model is more efficient in processing transactions, but there are problems such as nodes doing evil.
In the development of the latest public chain technology, BIKING optimizes the UTXO and account model, and inherits the respective advantages of both, which means that transactions in the BIKING system can resist double-spending attacks and further ensure privacy. It is also perfectly compatible with smart contracts.
BVM virtual machine
Looking at the new public chains in the market, no matter which technology is declared, there are obvious defects, and it is not the most friendly to developers, especially in the development language. The virtual machine BVM built by BIKING is fully compatible with the EVM of Ethereum. They both use Solidity as the programming language and have the same development tools and token standards. This means that on-chain applications such as Ethereum and its side chains can be seamlessly migrated to the BIKING Coin King Chain with one click, allowing developers to achieve zero-cost (learning) and zero-threshold development on BIKING Coin King. It is foreseeable that the BIKING public chain after its official launch in the future will usher in an ecological explosion by virtue of this advantage.
The BIKING performance public chain not only improves the performance and security of the blockchain network, but also further realizes the expansion of functions, allowing the integration of concealment and compliance to meet the dual needs of users and supervision. The BIKING public chain can always bring us unexpected surprises, let us look forward to its wonderful performance after its official launch.
- By Sean