ArcBlock-The Magnificent and ICO Review
ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain applications. The platform goes beyond providing the necessary foundational components for using blockchain to power complex business rules. It connects your existing system to blockchain networks, enabling you to automate business processes using the data and identities associated with existing systems. ArcBlock’s primary goal is to remove the barriers that have slowed blockchain adoption among the general public. We’re also passionate about developing unique approaches that will significantly advance blockchain development.
The blockchain that Bitcoin uses is designed to handle seven transactions per second, and Ethereum can only handle a few more. In December of this year, a simple CryptoKitties application accounted for lots of network traffic jams on Ethereum and as traffic increased significantly, the transaction fees raised up dramatically. This is a clear example of its limitation on handling large amount of concurrent users makes itself less competitive compared to existing non-blockchain alternatives.
Problems with today’s blockchains
- Poor performance
- Not consumer friendly
- Cost and Many other facts.
ArcBlock solves through its revolutionary new design. Unlike its predecessors, ArcBlock is a platform service, rather than a standalone software package or set of APIs. ArcBlock is a comprehensive solution that combines blockchain technology with Cloud Computing.
01.Built for the new token economy
ArcBlock is a self-evolving ecosystem. ArcBlock Foundation are only jump starting the project; the platform will continue to develop and grow on its own.
- Optimized for the best experience
Applications built with ArcBlock offer reactive, real-time experiences
- Built for the cloud
ArcBlock is designed to run natively in the cloud. It can also run on a single computer for testing and development.
- Built with an open standard
W3C Blockchain Community Group, IEEE Standard Association’s Blockchain Community, Enterprise Ethereum Alliance,Linux Foundation, and Hyperledger Foundation. This list will expand over time.
The ABT is a utility token for paying the cost associated with using the service. The ABT’s basic utility value is to pay for the cost of using the ArcBlock system. People who contributed resources or services (“Miners”) to the platform will be rewarded with tokens.
Token name — ABT
Total Tokens — 186,000,000
Platform — Ethereum(ERC20)
In 2017, the fiery bitcoin, ICO (Initial Coin Offering, first tokens issue) eventually led to regulatory intervention. However, regulators did not prohibit, but strongly encouraged, is the underlying blockchain technology. In the second half of this year, financing in the area of blockchain saw a marked increase. Blockchain technology used to be a pig on the tuyere, which was blown to heaven but was controversial because of a lack of ground truth. Later, the landing scene such as cross-border payments gradually emerged. International banks, Ali and Tencent joined the giants, and it finally became a reality. The story is very sexy, landing scene is no sense. Even if there is a blockchain project gradually landing, but the application scenario is limited. As the underlying technology of bitcoin, the application of blockchain in the real world cannot be as “great” as the ideal of Bitcoin. Offline products, corporate assets are entities, not bitcoin and other virtual assets, the blockchain cannot guarantee that the former information in the input system at the moment of truth.
Blockchain application difficulties facing the ground
The founder of blockchain ecosystem platform ArcBlock, Takeozai , believes that with the exception of bitcoin and ICO, there are few blockchain applications that are currently truly successful. He believes that to create a successful blockchain to centralize the application, currently facing five major difficulties.
The performance is low: Bitcoin’s blockchain is designed to handle seven transactions per second, Ethereum can only handle dozens of pen. In early December 2017, a simple “CryptoKitties” game caused massive congestion in the Ethereum network and resulted in a surge in gas. Qualified consumer applications must be able to handle tens of millions of daily active users, so few non-blockchain applications are uncompetitive. Reduce the centralization application development threshold, ArcBlock block cornerstone blockchain to enter 3.0
The C-end user high threshold: almost all blockchain applications require users to run a “node” or at least one “light node” on their own computer to use, learning and use of high cost led to the majority of blockchain applications Are limited to the geek range. Ethereal Cat is already a more user-friendly, decentralized blockchain application, and it still requires users to install Metamask, a light wallet plug- in for the browser to use, and users must know how to buy it. To achieve universal, blockchain applications must lower the user threshold, so that users do not feel the existence of the blockchain.
The high cost: Just like the blockchain has a handling fee for every transaction, the cost of using the blockchain today is very high, affecting the enthusiasm of developers to create free applications and blocking the popularity of blockchain applications. Instead of allowing users to pay for each operation, blockchain technology should support free apps just as much as the internet, and developers and businesses should pay for innovative apps.
The platform “lock” the risk: Developers from the outset to support what kind of blockchain technology difficult choice, the application design and code by the underlying platform “locked” in the future difficult to replace, and can not support a variety of different underlying chain technology To provide the best user experience.
The lack of function: Although blowing in the tuyere for a long time, the current block chain scene is limited to achieve the function is not much.
People believes that one of the characteristics of the blockchain protocol is that it is relatively easy to forcibly split. Recently, the phenomenon of hard-forging the blockchain for various motives has come one after another. However, these hard forks make a small contribution to the function of the blockchain, instead, they disperse the computing resources and cut off the user community. Today’s inherent incentive mechanisms for various blockchain systems do not encourage people to contribute to chain technology and features.
ArcBlock launch platform to reduce the development threshold
Takeo Hong believes that he founded the ArcBlock is a decentralized application development and deployment platform that can reduce the developer threshold to reduce the above difficulties. ArcBlock PaaS platform similar to set up a decentralized blockchain application development framework, developers can use the above tools to develop and share their own development of functional modules. Developers use the resources on the platform to pay for tokens.
The core components and architecture of the ArcBlock platform include decentralized access protocols (cloud nodes), open chain access protocols, Blocklet Components, and token economy services.
Reduce the centralization application development threshold, ArcBlock block cornerstone blockchain to enter 3.0
Cloud nodes can reduce the difficulty of high user barriers. The design takes a cloud of services as a “node,” while mobile and cloud services logically form a set of nodes. In this framework, the cloud and the device are not the requested relationship, but the synchronous structure. As a result, users can work even offline, and synchronization can be followed. “In fact, a computer is also a group of interconnected components (such as CPU, bus, memory, external memory, network interface, etc.) assembled in a box to work. Both are essentially the same, but the distribution and communication of different components of different ways.
This means that the “node” here is not a physical device, and the user’s device is not on the chain. Similar structure of the display applications, C-terminal is more familiar with the wallet in the Bitcoin exchange. In fact, only the exchange’s total account is on the chain, and only when the user puts the money out will it be in his wallet. It turned out that similar structures need to build their own, now reduced development costs.
Open chain access protocol applications can adapt to different blockchain protocols , including Bitcoin, Ethereum, Hyperledger, and others. Takeo Hong said most of the products developed on ArcBlock, can be placed on any chain, the application system will not be bound in the underlying chain.
He used a database example to explain to me how to implement similar techniques, just as almost all database underlying MySQL language, different chains are using blockchain technology, a similar structure. ArcBlock is designed for the generic structure of the open chain access protocol, so if a project uses a specific chain of unique technology, still need to be part of the service locked in the blockchain. However, through this agreement, other services can be placed on other chains or self-built public chains. In other words, the use of open chain access protocol can also achieve the same set of applications cross-chain deployment. This protocol can roughly be divided into two parts, the Open Chain Access Layer and the Chain Adapter. The Open Chain Access Layer defines a set of high-level generic APIs to access the blockchain of different protocols and supports different blockchain protocols through its lower-layer link adapters. “Developers can make chain adapters to fit into any chain.” Takeozhibe said open chain access protocols will be released using the open source MIT protocol, and chain adapters may be developed or enhanced by community members themselves following the protocol, and These user-generated chain adapters can be released in the app market for use by others.
Blocklet is a serverless computing architecture component that runs a variety of applications and is also the core foundation of the ArcBlock platform, which itself consists of a series of Blocklets. The ArcBlock Open Chain Access Protocol allows Blocklet to communicate with the blockchain, which allows the Blocklet to communicate with the user’s browser or App. Blocklet component is a set of pre-designed, reusable Blocklet. Developers can use Blocklets to implement smart contracts, external transaction triggers (Oracle) on the blockchain, access to external resources such as files, databases, and other data sources, as well as complete chain-independent business logic. This allows on-chain and off-chain components to communicate. Takeo Hong believes that the reason why the application of decentralization is costly is due in part to the fact that everybody stores and deploys all the data in the chain. In fact, not all services must be completed through the blockchain. The future, on-chain and off-chain combination of the structure can reduce costs, but also reduce the blockchain due to transaction congestion and poor performance.
Finally, the component application market and the tokens economy are inherent incentives for the platform . Developers can put their own developed modules, services, corporate chains and even applications into the market. Once these services are used by other developers, the owner You will get tokens reward. Takeozhihong believes that the above framework reduces the threshold for de-centralizing application development. With the addition of incentive mechanisms, more people will use blockchain to develop applications, thereby enriching related functions. In terms of tokens, Takeo says token tokens will be managed exclusively by a foundation and will announce how the token system will be distributed in the future.
The application of the block chain 3.0 era will be combined with the chain on the chain
Such a system sounds like a very large ecosystem, with the number of developers affecting the platform’s prospects. BlockStack , a blockchain browser that ‘s currently trying to do something similar, is around . Takeo Hong believes that the birth of a similar platform is the inevitable result of the blockchain 3.0 era. Reviewing the history of the development of the blockchain will find that the general trend is that blockchain technology will continue to expand its scope of application. 1.0 era symbol of the birth of Bitcoin, which is a highly customized blockchain; 2.0 era is Ethereum, so that the initial ecological blockchain with the prototype, but still limited to the geek range; 3.0 era Will be combined with the chain on the chain, to the center of the application is more common.
Reduce the centralization application development threshold, ArcBlock block cornerstone blockchain to enter 3.0
Founder Che Zhihong worked at Microsoft Europe from 2007 to 2010 and Social Computing and Machine Learning at Microsoft Research USA FUSE Labs (now AI Labs) from 2010 to 2012 the study. Leave the Microsoft Research Venture in 2013, has launched a mobile story creation platform Pixotale, artificial intelligence-assisted knowledge collaboration service system CrossCourse. Chief Scientist Flavien Charlon joined Microsoft’s Global Product Development Center in Europe in 2007 and is engaged in core development of several important products including Windows Azure and Bing. He is the lead creator of Colored Coin and has projects such as the Open Assets Protocol and Openchain.
Let’s Talk about the Present
There are about 30 people in ArcBlock’s team. At the beginning of 2017, the ArcBlock platform is in the process of designing and developing. At present, 80% of the first phase of the system has been developed and preliminary cooperation has been reached with enterprises, platforms and institutions in the fields of IT, education, publishing, travel, health and smart city . ArcBlock received an angel wheel investment in late November last year. The company is about to open tokens of pre-sale, the system is expected in April-May online application.
ANN Thread- https://bitcointalk.org/index.php?topic=2699379