{"id":10573,"date":"2020-12-24T09:20:00","date_gmt":"2020-12-24T09:20:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2020\/12\/24\/likelib2-0-technical-features-redefining-public-chain\/"},"modified":"2020-12-24T09:20:00","modified_gmt":"2020-12-24T09:20:00","slug":"likelib2-0-technical-features-redefining-public-chain","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2020\/12\/24\/likelib2-0-technical-features-redefining-public-chain\/","title":{"rendered":"LikeLib2.0 Technical Features, Redefining Public Chain"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n                            <!--<a class=\"format-txt\" href=\"{baseURL}\/View\/{release.id}?_download=1\">View this article in .txt format<\/a>--><\/p>\n<p>SHANGHAI, CHINA &#8211;\u00a0<a href=\"https:\/\/www.media-outreach.com\/\">Media<br \/>\nOutReach<\/a>\u00a0&#8211; 24 December 2020 &#8211;\u00a0Based on the country&#8217;s strategy to promote the development of blockchain, LikeLib2.0<br \/>\nfocuses on the core issues of blockchain applications in various fields, take<br \/>\ntypical blockchain applications as an important breakthrough, promote<br \/>\nbreakthroughs in key application technologies of blockchain, and study<br \/>\nblockchain service architecture, data Key technologies such as access<br \/>\ntechnology, hybrid storage, data source, cross-chain and sharding, blockchain<br \/>\nand IoT intelligent system integration, and develop a basic platform for<br \/>\nblockchain services, in blockchain education and training, e-government, supply<br \/>\nchain, and carry out application demonstrations in key areas such as finance to<br \/>\nopen up the innovation chain, application chain and value chain, thus providing<br \/>\ncommon and secure blockchain basic support capabilities.<\/p>\n<p>\u00a0<\/p>\n<p>Recently the technical features of LikeLib2.0 public chain system are<br \/>\nannounced through the media.<\/p>\n<p>\u00a0<\/p>\n<p>LikeLib2.0 provides a secure and stable blockchain service basic<br \/>\nplatform, covering more than 3 core modules with independent intellectual<br \/>\nproperty rights, such as data connection, hybrid storage, and cross-chain<br \/>\ntechnology, which are able to quickly build solutions for typical application<br \/>\nscenarios.<\/p>\n<p>\u00a0<\/p>\n<p>Compared with LikeLib1.0, LikeLib2.0 has a higher level of improvement<br \/>\nin core technology architecture, and the transaction speed is about 10000TPS.<\/p>\n<p>\u00a0<\/p>\n<p>The newly released 2.0 system will not only merge transaction program<br \/>\nfees, but also copy forks of the blockchain and increase the volume of transfer<br \/>\ntransactions. The average transaction value can be distributed among the<br \/>\nrunning nodes.<\/p>\n<p>\u00a0<\/p>\n<p>In addition, there have been steady improvements in supporting smart<br \/>\ncontracts, exchangeable consensus mechanisms, and various storage networks. It<br \/>\ncan replace the blockchain consensus mechanism and the basic IPFS distributed<br \/>\nstorage network according to different factors (such as transaction volume),<br \/>\nwhich can store a large amount of data outside the chain.<\/p>\n<p>\u00a0<\/p>\n<p>LikeLib2.0 uses database fragmentation technology. Within the database<br \/>\nof LikeLib2.0 public chain system, only a small part of the input transactions<br \/>\nneed to be processed, and a large amount of verification work can be completed<br \/>\nthrough other conventional parallel processing on the network.<\/p>\n<p>\u00a0<\/p>\n<p>Here, BTC and LikeLib seem to be merchants from two countries. The two<br \/>\nparties cannot trust each other and use different currencies, so they cannot<br \/>\ndirectly trade. <\/p>\n<p>\u00a0<\/p>\n<p>Therefore, the two parties negotiated a set of rules (equivalent to a<br \/>\nrelay chain protocol) and established a special trading venue to handle<br \/>\ntransactions, jointly managed by large merchants (equivalent to gateways) in<br \/>\ntheir own country as representatives. These large merchants also need to have a<br \/>\nsufficient amount of assets as security.<\/p>\n<p>\u00a0<\/p>\n<p>The whole process is called a cross-chain bridge, which has technical<br \/>\nadvantages such as multi-signature technology\/ring signature technology\/hash<br \/>\nlocking.<\/p>\n<p>\u00a0<\/p>\n<p>LikeLib2.0 uses Lightning Network transactions and zero configuration<br \/>\ntransaction channels.<\/p>\n<p>\u00a0<\/p>\n<p>Both parties transfer funds to a common payment channel and conduct<br \/>\ntransactions by transferring funds from one end to the other. The existing<br \/>\nhosting solutions on the Lightning Network only manage their users&#8217; funds on<br \/>\none or a few, and they will not use one channel with each user. Instead, an<br \/>\ninternal private ledger is kept to record when the funds belong to the user.<\/p>\n<p>\u00a0<\/p>\n<p>Therefore, users do not have to wait for the payment channel to be<br \/>\nbroadcast to the chain. The result is a decentralized network of custodians,<br \/>\nwith each custodian running a centralized subnet with users.<\/p>\n<p>\u00a0<\/p>\n<p>Earlier we mentioned the ring signature technology in the LikeLib2.0<br \/>\ncross-chain bridge. The ring signature is named because a certain parameter<br \/>\nimplicit in the signature is composed according to certain rules. However, many<br \/>\nschemes proposed later do not require the structure of the signature to be a<br \/>\nring, as long as the formation of the signature satisfies the spontaneity,<br \/>\nanonymity and group characteristics, and it is also called a ring signature.<\/p>\n<p>\u00a0<\/p>\n<p>In fact, the security of the ring signature technology scheme is quite<br \/>\nhigh, such as: unconditional anonymity, unforgeability, unconditional anonymity<br \/>\nof the signer, and the signer can freely specify his own anonymity range, forming<br \/>\na beautiful ring logic structure, which can realize group signatures The main<br \/>\nfunction of but does not require trusted third parties or group administrators.<\/p>\n<p>\u00a0<\/p>\n<p>Ring signature is a special group signature. There is no trusted center<br \/>\nand no group establishment process. For the verifier, the signer is completely<br \/>\nanonymous.<\/p>\n<p>\u00a0<\/p>\n<p>In terms of zero-knowledge proofs, in theory, it is possible to prove<br \/>\nsomething to everyone else without exposing anything significant, and the<br \/>\nvolume of the generated proof is small, the proof cost is very low, and it has<br \/>\nnothing to do with the amount of calculation that needs to be proved.<\/p>\n<p>\u00a0<\/p>\n<p>LikeLib2.0 uses the generation algorithm (G) to generate public<br \/>\nparameters for the proposition, the proof algorithm (P) to generate the proof<br \/>\nof the satisfiability of R1CS, and the verification algorithm (V) to verify the<br \/>\nproof and other technical methods and means to finally generate the proof. It<br \/>\ncan be proved that there is a secret value reset equation satisfied without<br \/>\nrevealing the secret.<\/p>\n<p>\u00a0<\/p>\n<p>Data traceability, from the perspective of application, focuses on the<br \/>\nprocess and method of tracking.<\/p>\n<p>\u00a0<\/p>\n<p>The &#8220;decentralized and distributed&#8221; technology of LikeLib2.0<br \/>\nrecords all information publicly on the &#8220;public ledger&#8221;, and can only<br \/>\nbe entered and cannot be modified. Due to the feature of multiple parties<br \/>\njointly maintaining the simultaneous ledger, the traditional information island<br \/>\nproblem is broken and decentralized management is realized. <\/p>\n<p>\u00a0<\/p>\n<p>In this open distributed accounting system, the blockchain provides<br \/>\nusers with openness and consensus; decentralized and transparent transactions<br \/>\nand anonymity for both parties.<\/p>\n<p>\u00a0<\/p>\n<p>The data traceability annotation is a technique for tracing the source,<br \/>\nreproduce the historical state and evolution process of the data according to<br \/>\nthe trace path, and realize the redirection of the historical data archives.<\/p>\n<p>\u00a0<\/p>\n<p>The World Wide Web has continued to iterate for thirty years before it<br \/>\nhas today&#8217;s prosperity and &#8220;Internet +&#8221;. If we still have confidence<br \/>\nin the blockchain in 2020, perhaps we should give it more time. Obviously, the<br \/>\nLikeLib2.0 public chain system has given the blockchain industry a gratifying<br \/>\nanswer in 2020.<\/p>\n<\/p><\/div>\n\n<br \/><a href=\"https:\/\/www.media-outreach.com\/release.php\/View\/59773#Contact\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI, CHINA &#8211;\u00a0Media OutReach\u00a0&#8211; 24 December 2020 &#8211;\u00a0Based on the country&#8217;s strategy to promote the development of blockchain, LikeLib2.0 focuses on the core issues of blockchain applications in various fields, take typical blockchain applications as an important breakthrough, promote breakthroughs in key application technologies of blockchain, and study blockchain service architecture, data Key technologies such &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10573"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=10573"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10573\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=10573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=10573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=10573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}