PandaInu will provide a new cross-chain transaction ecosystem
London, UK, 13 Aug 2021, ZEXPRWIRE, After 6 months of rapid development, PandaInu and Infrastructure Framework Substrate have gradually enriched ecosystem projects, including 0xproject, Chainlink, BSC, and Ocean Protocol, etc. We are progressively entering the “Renaissance era” of the blockchain industry.
As a project officially funded by Etherconnect, EIFI Finance will provide a convenient entry experience for cross-chain ecological projects. The PandaInu platform is the first blockchain project developed based on Substrate other than PandaInu. Its framework realization has become mature, so panda wallet intends to integrate the BSC platform as the first cross-chain ecosystem application.
PandaInu (Mobile & Web wallet for PWT)
Panda wallet provides one-stop management of cross-chain assets, convenient mortgage and governance, as well as holding of private keys. It provides users with a more user-friendly and more convenient experience. The entry to the pandaInu provides the users with more intuitive visual data and state change display to ensure the users’ right to know and network participation.
PandaInu realizes the interoperability between blockchains, regardless of their function or whether they serve as private or public blockchains. Interoperability allows different blockchains to perform arbitrary messaging, including assets. Such inter-blockchains can include private blockchains, consortium blockchains, and public blockchains.
Panda wallet will follow the BSC ecological to continue to expand the cross-chain ecosystem and provide it with a convenient entry and use experience. It will quickly integrate the appropriate cross-chain application projects. This will be a diversified entry-level application.
We believe that the first to be integrated will be Chainlink, a cross-chain asset platform, which will bring more convenience and value to users. There will no longer be pseudo-cross-chain transactions like sailing under false colors by achieving a true decentralized cross-chain asset transfer. This will be the first step in the outbreak of cross-chain ecosystem application!
Chainlink (Cross-chain hub of digital assets)
Breaking the barriers between assets in Blockchains and realizing the public blockchain ecosystem featured by multi-currency integration
BTC has established the consensus in the largest scope, but its transaction efficiency is low; ETH has established a privacy function, but it has no smart contract capability; and established a smart contract, but the migration to POS system is impossible. Chainlink allows unified transformation of assets in blockchains in a decentralized manner so that any blockchain can achieve asset connectivity with all Blockchains as long as it has established a connection with Chainlink.
Users can realize the cross-chain linking of different kinds of digital assets they hold to Chainlink. On the one hand, the system-integrated exchange DApp can meet the transaction demands of these assets, and on the other hand, it also generates a fair price for statistics of mining market value.
Chainlink is to carry out many developments based on Substrate’s basic framework, including multi-chain light node adapting bridges, witness adapting bridges, special economic incentive models, and multi-chain asset hosting tools, multi-platform wallets, and blockchain browsers. Chainlink will adopt the decentralized light node approach to allow cross-chain integration of mainstream digital assets, including BTC, ETH, ERC20, BEP20, and TRC20. Also, develop community habits and developer ecology for cross-chain asset transfers, and incubate the DApp that adopts the latest smart contract technology. Chainlink will use Boca’s POS consensus algorithm to establish the largest POS node network in history, allowing support for 1000+ consensus nodes, 1–2s block generation time, and final deterministic latency within 10s.
The number of Chainlink consensus nodes will be limited to a few dozens in the beginning, and the limits will be gradually enlarged after the community is maturely developed. In the initial stage, the cloud server shall be used to build a consensus node. Later, ordinary users only need to download the desktop wallet to generate a block, but a good network access environment and computing power shall be maintained. Otherwise, in case of the latency in block generation, the penalty will be imposed. In the general case, a good home network and a high-performance desktop computer can meet the basic needs. The penalties will be transferred to the parliamentary fund, and the subsequent referendum will determine how to deal with the penalties.
Anyone can apply for the registration of nodes and start participating in election after the node server is installed. Chainlink adopts a “one vote in one casting” model to eliminate node conspiracy. Any user can use PCX for node election, and it is recommended to select nodes with high self- mortgage, stable operation, and full identity disclosure.
The profit model of nodes is to acquire 10% of the income from users’ vote mining, and the subsequent referendum can modify the specific proportion. The offline of nodes or other malicious acts will result in a penalty, and the node’s self-mortgage and user rewards to be received will also be deducted. The election cycle for each consensus node is one day, and nodes will be ranked according to the total number of votes. If a node that fails to be selected as a consensus node will become a candidate node, and it is also necessary to set up a real node to send heartbeat transactions without registering any empty node. Since the votes of the consensus node and candidate node are equally involved in the mining rewards, the users will get the same benefits, so that the advancement of the candidate node will not be affected.
Summary
Panda wallet will participate in the maintenance of Chain link’s verification nodes to provide users with more secure verification transaction services, supply reliable protection for cross-chain asset transfer and eliminate malicious acts such as node conspiracy. In order to incentivize early PandaInu supporters, PWT will open its presale on its official website very soon. The Presale is the minimum price that retail investors can buy from the market. The lower price you pay, the more you earn. Participate in the presale and earn more!
PWT is a new cryptocurrency that is 100% powered by the worldwide community. There is no team distribution, no institutional investors, with PWT fully distributed to the community members.
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Media contact
Company: PandaInu
Contact Name: Advert Larken
E-mail: [email protected]
