Chinese blockchain projects are among the most promising and currently under the radar within the realm of encryption-based technology and integration. Today’s article focuses on three blockchain projects coming out of China that have potential to become smash hits.
Through technological innovation, the hard work of engineers and business personnel alike, it’s with strong conviction that companies like AELF, IOST and ACHAIN have the potential to usurp those that currently hold the top spots within the coin marketplace.
AELF is a form of cryptocurrency that is aiming to focus on solving current limitations in scalability and cross-chain communication. Currencies like Ethereum, for example, can only process as few as 15 transactions per second, making widespread adoption of cryptocurrency into the mainstream a concern. As many would remember, a simple gaming application like Cryptokitties totally broke the Ethereum network with only a few thousand users hosted.
AELF hopes to contend in the race for scalability by creating a system of sharding in which each shard itself will operate as a sidechain, thereby possibly solving the issue of scalability by orders of magnitude.
Business at AELF
Current lead investors in AELF include such firms as FBG Capital, AlphaBit, Galaxy Digital Assets, Blocktower, Node Capital, and many more. According to the company’s official roadmap it hopes to officially launch into full commercial availability within January of next year, likely propelling it into an even more sizable representation within the marketplace than that which it already holds. The company’s governance is currently being set up within Singapore wherein it will be implemented with a comprehensive management and governance model.
Tech at AELF
AELF’s team is considerably small, but well-qualified, and therefore incredibly focused on solving the specific infrastructure problems associated with scalability over all else. The company’s technology focuses on what it calls a “highly efficient cross-chain communication system”, wherein a series of side chains are created with synchronicity in spite of differences in speed. What this means for the investor is a platform that is prepared to contend with issues of fewer transactions per second with considerable ease. Concerns of system congestion, according to their whitepaper, should be a thing of the past.
Internet of Services (IOST) is a blockchain project based out of Singapore that is developing a secure and scalable blockchain architecture that promises to create the infrastructure for a decentralized economy. Via its openness, ultra-high TPS, privacy, protection, and scalability, IOST is projected to be an excellent project with the perfect balance of ambition and attainability.
Business at IOST
IOST currently has a team of over 50 people spread out over Asia, North America, and Europe. This team is comprised of a group of blockchain experts, distributed system scientists, world-class programmers, and tech enthusiasts, shooting to make a business-grade decentralized services platform possible. IOST is currently supported in part by Bluehill, a blockchain incubator, and accelerator, having been granted $50,000,000 in global funding to back the IOST ecosystem, skyrocketing projections for IOST’s project. Among the most recent blockchains applications launched on IOST’s platform are Theseus, launched on May 28th, which represents a research and development team pushing to pave the way for the IOST developer community.
Tech at IOST
IOST’s technological mission statement states that their goal is to scale social and economic cooperation to a level never before attained. Via decentralization and universal acceptance, IOST’s plan is to maximize network value for all parties. Through the implementation of an intelligent reputation system, decentralized governance, and an efficient consensus mechanism, IOST represents a sound investment. From a region with countless numbers of blockchain projects, IOST is demonstrating itself to be among the most promising.
Achain is a public blockchain platform that currently has a working product, as opposed simply a series of projections. It has been around for a few years, and currently has at least 33 apps currently deployed via its platform. As of yet, the West has very little in the way of interaction with it. Achain is capable of achieving transaction speeds of 1000 transactions per second. While founded in Singapore, the company is currently based within Beijing, and has a team between approximately 51-200 employees.
Achain’s current ambitions lie within its 3 stage development process of Singularity (the Smart Contract Network), Galaxy (the Fork Network), and Cosmos (Interconnected Network). Currently ACT can be traded in over 10 major international exchanges including Okex, Ourdax, Kucoin, Coinegg, and more.
Business at ACHAIN
Achain was founded by the nonprofit organization Achain Foundation, which is maintained and co-constructed by fans of the platform all around the world. Members of the team at Achain have won awards ranging from Top 30 under 30, to awards for Star Entrepreneur for 2016.
Tech at ACHAIN
Achain’s technological capabilities stand out as Achain’s proposed fork network which allows for the ACT to handle tasks via a series of forked chains honed to industries like gambling, gaming, transportation, and more. Via this forked network, the proposed issues that Achain seeks to solve include high fees, low transaction speeds, the lack of smart contract functionality, and more.
All in all, this is yet another company that looks to have a promising future.