ParallelChain is a public + private layer-1 blockchain protocol building an accountable, fair and solid backbone infrastructure for the digital economy.
Since its birth in 2018, ParallelChain has been a permissioned blockchain platform where high performance enterprise-grade applications are built on and operated, such as KYC, data security, supply chain solutions. Built from the ground up, ParallelChain was designed for commercial and business adoption, its unique features have enabled enterprises to leverage blockchain technology without compromising their business autonomy and data privacy, or risking compliance.
Meanwhile, the DeFi and cryptocurrency space has gained enormous traction and is destined to play a significant role in the present and future financial system. Because of their distinctive characteristics, the DeFi community and traditional enterprises will face significant challenges as they become more intertwined. There is a pressing need of an environment that enables seamless access between enterprises and DeFi, more importantly, an ecosystem that understands their respective needs and values – and that is what ParallelChain shall deliver. The ParallelChain Mainnet project is a distributed, public smart contract platform powered by ParallelBFT, a proof-of-stake consensus based on sharding and hashing algorithms unique to ParallelChain. The ParallelChain ecosystem, comprising public and enterprise networks, provides the means for DeFi to thrive in the regulated world system and accelerates enterprises’ migration to a blockchain-enabled, more crypto-friendly business model.
A public proof-of-stake blockchain network designed to balance decentralization, fast transactions and low fees.
Protected by the ParallelBFT consensus protocol, which adopts a sophisticated class-based node system to ensure fast and accountable consensus.
This network is open-source.
A high performance private blockchain platform for building controlled-access applications such as enterprise software and networks.
Powering layer-2 applications with patent-pending features designed to satisfy data privacy and compliance requirements. Hyperledger-powered apps can also be easily migrated.
Usage of the platform is licensed.
A truly personal, single-user blockchain to ensure your biometrics, crypto assets and transaction records are kept secured and private in your ParallelWallet.
(USA - issued) Patent No. 11483131 B2
(EU - received intention to grant) EP21150794.2
(CN - published) 202110030264.1
(USA - issued) Patent No. 11403281 B2
(USA - issued) Patent No. 11409730
(USA - issued) Patent No. 11570005
(USA - issued) Patent No. 11483131 B2
(CN - published) 202110031180.X
(EU - received intention to grant) EP21150793.4
(USA - issued) Patent No. 11,531,330 B2
ParallelBFT is HotStuff with two major optimizations — speculative execution and consensus on hashes — as well as a slew of subtle optimizations that are too numerous to enumerate. A sizable body of work has shown that HotStuff and HotStuff-derived algorithms dominate all other BFT consensus algorithms in performance.We have also ideated an execution sharding protocol built on top of basic ParallelBFT that gives us the option to sacrifice some fault tolerance in exchange for extra throughput, providing a potential path for scaling Mainnet in the future if it hits higher-than-expected usage.
A unique Proof-of-Immutability (PoIM) algorithm. Blockchain immutability alone is not sufficient to establish trust. Trust can only be earned and maintained when immutability is continuously proven. ParallelChain enables participants to repeatedly and randomly verify the immutability of blocks without compromising the privacy of data owners.
ParallelChain Mainnet theoretically supports smart contracts written in any language compilable into WebAssembly (WASM), but we are initially focusing our SDK and tooling development efforts on Go and Rust. This enables easy migration of ParallelChain S smart contracts (which are natively Go) into the ParallelChain Mainnet and vice versa.That means it is possible for ParallelChain to be a language agnostic platform, enabling developers to build applications on top of the network without having to pickup an entirely new language.
With our parallel approach to blockchain technology, blockchain applications can enjoy a boost in speed and performance by offloading some of its computations to Enterprise/Private ParallelChains.
We are constantly improving the ParallelChain technology to provide a state-of-the-art infrastructure for the two layer-1 platforms powering the most performant, secure and scalable applications.