In this article, we’re going to explore parallel chain, a new blockchain layer one protocol.
What are blockchain layer 1 protocols and what it is all about? Layer one protocols are also referred to as Base blockchain, the likes of BNB Chain, ethereum, bitcoin, Solana etc. they are referred to as base blockchain because they are the main network within their ecosystem.
“Layer 1 refers to the base infrastructure of a blockchain. Nicknamed “the mainnet,” layer 1 protocols have distinct functionalities such as the ability to process and finalize transactions on its own chain. As the main network within their ecosystem, they define the rules”
Layer one executes all on-chain transactions and acts as a public ledger source of truth, layer one also has its own native coins which serve the purpose of carrying out transaction costs (transaction fees)
Examples of Layer 1 Blockchains and the respective coins used for transactions
Blockchain has struggled to find its feet in the enterprise and consumers spaces; from concerns around scalability, privacy, transaction fees, to slow speed and high finality, the inherent limitations of blockchain have made it difficult for industries to fully accept this disruptive technology.
More developers are coming up with various solutions to enable scalability, improve security, decentralization and be able to process transaction faster on layer 1 and such is Parallel Chains.
What is parallel chains?
ParallelChain is a new layer 1 protocol based on a delegated proof of stake (DPoS) consensus mechanism (ParallelBFT) that employs an innovative, multi-class validator design.
This approach delivers substantive performance benefits including greater throughput and faster completion times, while saving attractive censorship-resistance characteristics that are lost in other more centralised designs.
ParallelChain, is developed to be the fastest blockchain currently available in the market, with the ability to execute over 100,000 TPS per chain at an average latency of 0.003 second. It is privacy-friendly and can scale limitlessly without degrading its performance in the slightest. What’s more remarkable about ParallelChain is that it can be seamlessly configured into three different blockchain modes – public, personal and enterprise, depending on what the user wants or needs. This gives the chain substantial talk points when it comes to advantages in the marketplace, especially versatility and agility.
Finally let’s take a look at some Parallel Chains Products
For more information about Parallel
Official Website: https://parallelchain.io/
Official Twitter: https://twitter.com/ParallelChainLB
Official Telegram: https://t.me/parallelchainofficial
Official Discord: https://discord.com/invite/parallelchain
What are blockchain layer 1 protocols and what it is all about? Layer one protocols are also referred to as Base blockchain, the likes of BNB Chain, ethereum, bitcoin, Solana etc. they are referred to as base blockchain because they are the main network within their ecosystem.
“Layer 1 refers to the base infrastructure of a blockchain. Nicknamed “the mainnet,” layer 1 protocols have distinct functionalities such as the ability to process and finalize transactions on its own chain. As the main network within their ecosystem, they define the rules”
Layer one executes all on-chain transactions and acts as a public ledger source of truth, layer one also has its own native coins which serve the purpose of carrying out transaction costs (transaction fees)
Examples of Layer 1 Blockchains and the respective coins used for transactions
- Bitcoin: Bitcoin’s layer 1 is the underlying architecture that secures the world’s largest cryptocurrency.
- Ethereum with ETH as native token used for transactions fees while interacting with the ethereum ecosystem.
- BNB Chain with BNB as the native token used for transaction fees while interacting with the BNB chain ecosystem
- Solana with SOL as the native coin used for transaction fees while interacting with the Solana ecosystem.
Blockchain has struggled to find its feet in the enterprise and consumers spaces; from concerns around scalability, privacy, transaction fees, to slow speed and high finality, the inherent limitations of blockchain have made it difficult for industries to fully accept this disruptive technology.
More developers are coming up with various solutions to enable scalability, improve security, decentralization and be able to process transaction faster on layer 1 and such is Parallel Chains.
What is parallel chains?
ParallelChain is a new layer 1 protocol based on a delegated proof of stake (DPoS) consensus mechanism (ParallelBFT) that employs an innovative, multi-class validator design.
This approach delivers substantive performance benefits including greater throughput and faster completion times, while saving attractive censorship-resistance characteristics that are lost in other more centralised designs.
ParallelChain, is developed to be the fastest blockchain currently available in the market, with the ability to execute over 100,000 TPS per chain at an average latency of 0.003 second. It is privacy-friendly and can scale limitlessly without degrading its performance in the slightest. What’s more remarkable about ParallelChain is that it can be seamlessly configured into three different blockchain modes – public, personal and enterprise, depending on what the user wants or needs. This gives the chain substantial talk points when it comes to advantages in the marketplace, especially versatility and agility.
Finally let’s take a look at some Parallel Chains Products
- Private parallel chains, a lightning-fast distributed ledger that guarantees high performance with no compromises and A private blockchain focused on enterprise agility and privacy.
- e-KYC chain: eKYC-Chain is a blockchain + biometric system for secure and effective verification and authentication of identity, its applications range from any internal business procedures to KYC or AML compliance.
- Approval chains: ApprovalChain is a web+mobile blockchain system built upon the ParallelChain™ platform for workflow streamlining, provenance tracking and approval transparency.
- Chattel chains: ChattelChain is a fast asset tokenization platform built upon the high-performing ParallelChain® to create asset-backed tokens.
- Preventive chain: PreventiveChain is a unique security management system built upon ParallelChain Lab's high-performing ParallelChain® platform.
For more information about Parallel
Official Website: https://parallelchain.io/
Official Twitter: https://twitter.com/ParallelChainLB
Official Telegram: https://t.me/parallelchainofficial
Official Discord: https://discord.com/invite/parallelchain
