Fang Declares End result of the Listening to of the Grand Court docket of the Cayman Islands on December 24, 2020

SHANGHAI, Dec. 25, 2020 /PRNewswire/ — Not too long ago the technical options of LikeLib2.Zero public chain system, a blockchain expertise from Shanghai Heshu Info Know-how Group Co., Ltd., are introduced via the media.

Based mostly on the nation’s technique to advertise the event of blockchain, the corporate concentrate on the core problems with blockchain functions in numerous fields, take typical blockchain functions as an vital breakthrough, promote breakthroughs in key utility applied sciences of blockchain, and examine blockchain service structure, information Key applied sciences resembling entry expertise, hybrid storage, information supply, cross-chain and sharding, blockchain and IoT clever system integration, and develop a primary platform for blockchain companies, in blockchain schooling and coaching, e-government, provide chain, and perform utility demonstrations in key areas resembling finance to open up the innovation chain, utility chain and worth chain, thus offering widespread and safe blockchain primary help capabilities.

LikeLib2.Zero supplies a safe and steady blockchain service primary platform, overlaying greater than three core modules with unbiased mental property rights, resembling information connection, hybrid storage, and cross-chain expertise, which is ready to shortly construct options for typical utility situations.

In contrast with LikeLib1.0, LikeLib2.Zero has the next degree of enchancment in core expertise structure, and the transaction pace is about 10000TPS.

The newly launched 2.Zero system won’t solely merge transaction program charges, but additionally copy forks of the blockchain and improve the amount of switch transactions. The typical transaction worth may be distributed among the many operating nodes.

As well as, there have been regular enhancements in supporting sensible contracts, exchangeable consensus mechanisms, and numerous storage networks. It may possibly substitute the blockchain consensus mechanism and the fundamental IPFS distributed storage community in accordance with various factors (resembling transaction quantity), which may retailer a considerable amount of information outdoors the chain.

LikeLib2.Zero makes use of database fragmentation expertise. Throughout the database of LikeLib2.Zero public chain system, solely a small a part of the enter transactions should be processed, and a considerable amount of verification work may be accomplished via different standard parallel processing on the community.

Right here, BTC and LikeLib appear to be retailers from two nations. The 2 events can’t belief one another and use completely different currencies, so they can’t immediately commerce.

Subsequently, the 2 events negotiated a algorithm (equal to a relay chain protocol) and established a particular buying and selling venue to deal with transactions, collectively managed by giant retailers (equal to gateways) in their very own nation as representatives. These giant retailers additionally have to have a ample quantity of belongings as safety.

The entire course of is known as a cross-chain bridge, which has technical benefits resembling multi-signature expertise/ring signature expertise/hash locking.

LikeLib2.Zero makes use of Lightning Community transactions and nil configuration transaction channels.

Each events switch funds to a standard fee channel and conduct transactions by transferring funds from one finish to the opposite. The present internet hosting options on the Lightning Community solely handle their customers’ funds on one or just a few, and they won’t use one channel with every consumer. As a substitute, an inside non-public ledger is saved to file when the funds belong to the consumer.

Subsequently, customers do not need to attend for the fee channel to be broadcast to the chain. The result’s a decentralized community of custodians, with every custodian operating a centralized subnet with customers.

Earlier we talked about the ring signature expertise within the LikeLib2.Zero cross-chain bridge. The ring signature is called as a result of a sure parameter implicit within the signature consists in accordance with sure guidelines. Nevertheless, many schemes proposed later don’t require the construction of the signature to be a hoop, so long as the formation of the signature satisfies the spontaneity, anonymity and group traits, and it is usually known as a hoop signature.

Actually, the safety of the ring signature expertise scheme is sort of excessive, resembling: unconditional anonymity, unforgeability, unconditional anonymity of the signer, and the signer can freely specify his personal anonymity vary, forming a stupendous ring logic construction, which may notice group signatures The principle operate of however doesn’t require trusted third events or group directors.

Ring signature is a particular group signature. There is no such thing as a trusted middle and no group institution course of. For the verifier, the signer is totally nameless.

When it comes to zero-knowledge proofs, in idea, it’s potential to show one thing to everybody else with out exposing something vital, and the amount of the generated proof is small, the proof price could be very low, and it has nothing to do with the quantity of calculation that must be proved.

LikeLib2.Zero makes use of the era algorithm (G) to generate public parameters for the proposition, the proof algorithm (P) to generate the proof of the satisfiability of R1CS, and the verification algorithm (V) to confirm the proof and different technical strategies and means to lastly generate the proof. It may be proved that there’s a secret worth reset equation glad with out revealing the key.

Knowledge traceability, from the angle of utility, focuses on the method and methodology of monitoring.

The “decentralized and distributed” expertise of LikeLib2.Zero information all info publicly on the “public ledger”, and may solely be entered and can’t be modified. As a result of function of a number of events collectively sustaining the simultaneous ledger, the standard info island drawback is damaged and decentralized administration is realized.

On this open distributed accounting system, the blockchain supplies customers with openness and consensus; decentralized and clear transactions and anonymity for each events.

The info traceability annotation is a way for tracing the supply, reproduce the historic state and evolution strategy of the information in accordance with the hint path, and notice the redirection of the historic information archives.

The World Vast Net has continued to iterate for thirty years earlier than it has at present’s prosperity and “Web +”. If we nonetheless have faith within the blockchain in 2020, maybe we should always give it extra time. Clearly, the LikeLib2.Zero public chain system has given the blockchain trade a gratifying reply in 2020.

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Comments

  1. You really make it seem so easy along with your presentation but I to find this topic to be really one thing which
    I believe I might never understand. It sort of feels too complicated and very huge for me.

    I am having a look forward to your next submit, I’ll attempt to get the
    hold of it!

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