PlugChain & Habit AMA Review

 

Q1: I am very happy to invite PlugChain to the Habit community for an AMA today. Can you briefly introduce PlugChain and the team?

A1: Yes, PlugChain is a Web3 public chain with high concurrency, low gas fee, and easy scalability as its core advantages. By building an aggregated cross-chain oracle protocol, it is committed to the application of high-performance information and data interaction. Simply put, PlugChain is a new public chain focusing on aggregated cross-chain decentralized oracles.

Our team members are located in more than 10 countries around the world to ensure that we can provide multicultural products. We are a competitive project team. In terms of technical application, our public chain mainnet was launched in August last year and has been running stably for a year. We have reached strategic partnerships with many institutions, which play a significant role in promoting the ecological development of the public chain. In May 2022, the PlugChain team has more than 100 members. In general, the PlugChain team is constantly improving, and we hope that our team will grow stronger and stronger to provide global users with a public chain with better interactive performance.

Q2: Not long ago, Aptos Labs logged in in the bear market. In recent years, many new public chains and innovative applications based on public chains have emerged. The current status of public chains, I think the current public chains cannot just follow the path that Ethereum has taken. In terms of innovation, does PlugChain have any outstanding highlights?

A2: PlugChain is a public chain focusing on aggregated cross-chain decentralized oracles. Our public chain advantages are more focused on cross-chain and decentralized oracle network protocols. PlugChain based on the underlying architecture of Cosmos has a more compatible cross-chain framework coupled with the team’s original cross-chain function, and has the ability to serve 100 mainstream public chains, such as the relationship between Polkadot relay chain and parallel chain. It combines the high efficiency and independent data interaction of Cosmos, and uses the underlying functional components of Polkadot to achieve scalability between blockchains.

Q3: Through your introduction, we learned that PlugChain focuses on “cross-chain + decentralized oracle”. The combo product in Habit is to achieve “Predict To Earn” by predicting the stock market and digital currency market. Can we make good use of the oracle function in PlugChain to retrieve accurate matches off-chain and transmit them to the blockchain securely and reliably? In the future development, will PlugChain consider connecting to more ecosystems?

A3: Yes, because the on-chain design of PlugChain is relatively complete, and the four modules perform their respective functions. The first is the proxy system that invokes user contracts; the second is the supervision system that ensures the authenticity of on-chain records and service quality; The third is the registration system for external chains to join verification nodes; the fourth is a payment system designed with reasonable thresholds, in order to ensure efficiency and scalability, and PlugChain puts data calculations off-chain, including verifiable calculation outsourcing and distributed data feeds. In this way, we can greatly improve the efficiency of data transmission in the real world and the block world, and use diversified servers as price feed nodes to make quotations, and effectively build a safe and scalable oracle machine quotation system, which can not only ensure the transmission of data information It also better guarantees the decentralization and usability of the oracle network.

PlugChain takes full advantage of the data interoperability, high concurrency, and scalability of the aggregated cross-chain oracle protocol to support various Web3 ecological applications. Of course, we will not only build an ecosystem, including decentralized trading platforms, decentralized payments, decentralized lending, decentralized OTC, NFT, DAO, GameFi, SocialFi, stablecoins, etc., but also through our upcoming The ecological support plan launched to attract more high-quality ecological projects to join PlugChain. At the same time, PlugChain has established a PC ecological fund to support the application and development of excellent ecological applications.

Q4: Can you introduce the next development direction of PlugChain? At the same time, the strategic partnership between PlugChain and Habit will allow $PC to have more scenarios? For example, it supports users with PCs to realize simple and fast stock purchases in the global market.

A4: In the future, we will launch an official NFT platform. At the same time, we will strengthen ecological and strategic cooperation by cooperating with top wallets and top exchanges to promote the development of the PlugChain industry. In addition, we will cooperate with many well-known institutions and media around the world to launch the official hackathon competition to attract more high-quality developers and technicians from around the world to participate in the construction of the PlugChain public chain technology ecosystem.

Yes, PC is the value token in the PlugChain public chain. The strategic cooperation with Habit this time is not only technical and brand cooperation, but also ecological integration, which also provides more diversified applications for PC circulation. Scenes.

Q5: How do you view the current development of public chains?

A5: At present, Ethereum is still a giant in the public chain track, although new public chains such as BSC, Solana, Cosmos, Near, Polkadot, and Polygon have also appeared in their respective segments in recent years. In the short term, the public chain is still in a situation of “one superpower, many strong”, and Ethereum is still ahead of other public chains, but in the long run, the common development of multiple chains is the future trend of public chains. Therefore, cross-chain interaction must also be the future trend, which is the main reason why PlugChain chooses the cross-chain track.

Now, the development of the public chain has gone through three waves, the single functional chain represented by BTC, the modular functional chain of Polkadot and Cosmos that started in 2016, and the layered ecological chain of Ethereum. Facts have proved that the route of Ethereum is Most successful, ecological prosperity is enough to offset all disadvantages

At present, only Ethereum can run millions of Dapps, and maintain a high level of activity and new trends, while BTC and XRP are relics of the old era. The idea is that a blockchain is responsible for a transaction, such as XRP cross-border transfers.

Polkadot and Cosmos 1.0 see the future of Dapps, but Polkadot cannot solve the efficiency problem of collective operation of multiple Dapps. The upper limit of the so-called parachain is around 100, and it is too complicated to continue to build the application layer. The plan of Cosmos is to directly develop the application chain. The Cosmos Hub is only responsible for the most basic functions and has no control over each chain. It is the most thorough decentralization.

In addition to performance, a more important challenge for practical applications is to meet specific requirements. In the entity scenario, there are many common logic modules, such as the requirements of identity management and account systems, the requirements of data exchange, the requirements of the financial industry and the common requirements of different industries. If each application needs to develop and organize these low-level modules, common modules and protocols in the supply chain, there will be a lot of waste, and different barriers to business integration will form new silos.

Under the multiple requirements of blockchain suspension, Oracle data cross-chain interaction, and public chain entity business scenario applications, the PlugChain technology R&D team is committed to creating a high-performance public chain that can successfully interact with the real world. In the future, we can wait and see the status of PlugChain in the blockchain, and it will definitely bring you new stories.