Feb 10, 2021
How was the technical of NGK Ecological Exchange constructed?
With the widespread popularity of Internet, blockchain technology has gradually entered the public’s eyes. It is based on decentralization, data immutability, open and transparent, and can resist attacks, which greatly improves the current Internet. At the same time, blockchain technology is being valued by the world and applied to all walks of life, aiming to change the many existing problems and solve the crisis of trust through the decentralized bottom technology.
When it comes to blockchain, it is worth mentioning the consensus mechanism, which is the foundation of the blockchain and determines the prospects of the blockchain market.
Currently, mainstream tokens or blockchain projects such as Bitcoin, Ethereum, Litecoin, etc. have consensus mechanisms. A blockchain without a consensus mechanism is like duckweed in the water and will never be stable. However, the current consensus mechanism has many flaws. For example, the POW consensus mechanism adopted by Bitcoin has slow block generation speed, high gas consumption, and forks. On the other hand, the POS consensus mechanism adopted by Ethereum, despite the improvement in block generation speed, it contains the issues of high gas consumption and low decentralization. Two days ago, the Ethereum’s gas fee hit a record high, reaching $17.67 at one time, causing many miners to flee.
After analyzing the shortcomings of POW and POS, the NGK Spirit Stone team improved the consensus mechanism. It introduced the DPOSS consensus mechanism, which was applied to the NGK blockchain and its related ecological fields.
For example, the recently launched NGK Ecological Exchange adopts the DPOSS consensus mechanism. Its technical advantages over other ecological chains or institutions have been welcomed by many ecological builders and Dapp developers in the market. It creates a big hit in the blockchain market before it goes online.
In addition, the NGK Ecological Exchange also integrates the InterPlanetary File System (IPFS), Practical Byzantine Fault Tolerance (PBFT), and NTRU encryption system. It has a large storage space, which can ensure the efficient operation of the ecological exchange, and at the same time improve the performance of all users, as well as the security of digital assets.
In addition, it is understood that after the NGK Ecological Exchange is launched, it will also access the browser, wallet, and API. All users in the NGK Ecological Exchange can complete all token transactions, memory transactions, computing power transactions, computing power mining and other operations on the NGK blockchain. In addition, the NGK’s Dapp developers can also develop various applications at a very low fee.
Above shows the technical construction of the NGK Ecological Exchange. According to the NGK Spirit Stone team, technological innovation will continue to be carried out on the NGK Ecological Exchange in the future to ensure its smooth operation. At the same time, it will be connected to various communities and foundations in the future, so that the NGK Ecological Exchange can bring multiple services to all ecological builders and Dapp developers.
