The Innovation of LikeLib 2.0 Redefines Public Chain Technology

MINSK, REPUBLIC
OF BELARUS – Media OutReach – 6 January 2021 – LikeLib is a
community-based open source blockchain project that uses blockchain technology
and digital identities to digitize and informatize assets; use smart contracts
to automatically manage assets and information to achieve a diversified network
of “smart economy”.

 

The ecosystem joins the
major communities around the world to participate, and is committed to linking
all with an open mind, thus building a decentralized network that can expand
and achieve multi-party collaboration and win-win in real business society.

 

LikeLib public chain team
leader Mr. Thierry, operations director DIma, and technical general counsel Ms.
Olga. All of them have very strong technology and business background.

 

LikeLib’s core members
include Technical Director Mr. Renia, Mr. Yevgeny, Technical Director Daniel,
Software Engineer Oleg, Sergey, Dennis, Business Analyst Mr. Andre, Ms. Tania
and the community technology development team Ms. Julia Palamarchu, Maksim
Hryhoryeu, Daniel Harapko, Anre Ku, Alexey Nekrasov, Alex, etc. have many years
of experience in relevant positions in Dublin internationally, as well as
abundant professional knowledge and skills.

 

Some ecological applications
of LikeLib blockchain include:

1. The best solution
(Biteacon)

Biteacon is a browser that
interacts with the LikeLib ecosystem, which can help users explore other
network-related information such as its blockchain and transaction volume.

2. The best smart contract
(Supplike)

Supplike is a platform with
built-in embedded supply chain builder based on LikeLib blockchain. With the
built-in builder, you can easily design and deploy the supply chain, assign
roles and use it easily, and create code-free solutions for the supply chain
through mobile apps.

3. The best solution
(LikeLib Analytics)

LikeLib Analytics is the
LikeLib blockchain browser and analysis platform, indexing all blockchain data
through the big data pipeline and disclosing data and indicators through API
and WEB applications.

 

On this basis, the
“blockchain + edge computing” IoT management system, the research of
the electronic degree certificate management method of the alliance chain,
relay cross-chain technology, channel state differential information vital
signs detection algorithms, research on people counting methods based on WiFi
perception, Internet of Things architecture for electrical fire monitoring of
ancient buildings based on edge computing, and multi-field and
interdisciplinary expert selection algorithms for multiple project ecology and
algorithm system applications have been successfully developed in the LikeLib
public chain main network.

 

LikeLib 2.0 provides a more
secure and stable blockchain service, which covers data connections, hybrid
storage, cross-chain technology and other core modules with independent
intellectual property rights, which can quickly build solutions for typical
application scenarios.

 

The newly-released 2.0
system will not only reduce transaction program fees, but will also cause block
chain replication forks and increase transfer transactions. The average
transaction value can be allocated between operational interruptions. Compared
with the previous version 1.0, the transaction volume has steadily increased to
10,000 transactions per second, and the transaction speed is about 10,000 TPS.

 

In terms of supporting smart
contracts, interchangeable consensus mechanisms and distributed storage
networks, the blockchain consensus mechanism can be replaced according to
different factors (such as transaction volume), and a distributed storage
network based on IPFS can store a large amount of data outside the chain.

 

LikeLib2.0 fully uses
database fragmentation technology. Only a small part of the input transactions
need to be processed, and a large amount of verification work can be completed
through other conventional parallel processing on the network.

 

LikeLib uses Bridges
technology, which is a blockchain interoperability technology specifically used
to make the LikeLib ecosystem cross-chain compatible with external blockchains
(such as Ethereum).

 

LikeLib cross-chain bridge
technology allows cross-chain assets and information exchange between the main
network and each project ecosystem, like the axis connecting various islands.
The LikeLib blockchain network realizes cross-chain through bridges, which
greatly promotes the large-scale assets of ecological projects such as Bitcoin
and Ethereum, and the real market liquidity of information. The advantages
include multi-signature technology/ring signature technology/hash locking
technology.

 

In addition, LikeLib2.0 also
uses Lightning Network transactions and zero-configuration transaction
channels.

 

The existing hosting
solutions on the Lightning Network only manage their users’ funds on one or a
few, and they will not use one channel with each user. Instead, keep an
internal private ledger to record when the funds belong to the user.

 

Earlier we mentioned the
ring signature technology in the LikeLib2.0 cross-chain bridge. The ring
signature is named because a certain parameter implicit in its signature is
composed according to certain rules. Many of the schemes proposed later do not
require the structure of the signature to be a ring, as long as the formation
of the signature satisfies the spontaneity, anonymity and group
characteristics, it is also called a ring signature.

 

The security of the ring
signature technology scheme is quite high, such as: unconditional anonymity,
unforgeability, unconditional anonymity of the signer, and the signer can
freely specify his own anonymity range, forming a beautiful ring logic
structure, which can realize group signatures The main function of but does not
require trusted third parties or group administrators.

 

Ring signature is a special
group signature. There is no trusted center and no group establishment process.
For the verifier, the signer is completely anonymous.

 

Theoretically,
zero-knowledge proof can prove something to everyone else without exposing any
proprietary, and the generated proof is small in size, the verification cost is
very low, and it has nothing to do with the amount of calculation that needs to
be proved.

 

LikeLib2.0 uses the
generation 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 verify the proof and other technical methods
and means to finally generate the proof. It can be proved that there is a
secret value reset equation satisfied without revealing the secret.

 

LikeLib2.0’s “decentralized
and distributed” technology means that all information is publicly recorded on
the “public ledger”, and can only be entered and cannot be modified, so that
the complete copy of the blockchain includes each executed action, so About the
value belonging to each active address (account).

 

The overall situation has
continued to iterate for thirty years, and only then has today’s prosperity
been achieved, and only then has “Internet +”. If you still have
confidence in the blockchain, perhaps you should give it more time. The LikeLib2.0
public chain system has already given the blockchain a gratifying answer in
2020.