Achain – Smart Contract Network & Blockchain Wallet Platform?

Blockchain technology offers users and developers a wide range of applications that aren’t limited to use as currency. Smart contracts are one of the most promising and interesting technologies to develop from the blockchain, and have the potential to completely replace traditional contract law and- according to some industry observers- render lawyers obsolete.

Until recently, the Ethereum blockchain has been the most advanced environment in which to develop and release smart contract based platforms and projects. A number of alternative blockchains, however, have begun to develop highly flexible smart contract platforms that approach smart contract deployment in a different manner.

Achain, a blockchain platform that is already popular in China, has recently uploaded its source code to GitHub and launched a community in an attempt to draw in blockchain enthusiasts and developers. The Achain solution is a simple, elegant, and effective blockchain environment that is specifically geared toward the development and execution of smart contracts.

In this article, we’ll take a look at the Achain platform and find out what it offers, as well as examining the key differences between Achain and Ethereum.

What Is Achain?

The Achain platform has already been under development for more than two years, and has gathered a significant amount of attention for the unique way in which digital asset issuance can be executed on it. Users of the Achain platform are able to deploy digital assets quickly and easily, as well as enterprise-class decentralized apps and smart contracts.

The most interesting element of the Achain platform is the consensus method it uses. Achain integrates a wholly unique “Result Delegated Proof of Stake” distributed consensus mechanism, or RDPoS. This architecture integrates a Turing-complete smart contract VM that incorporates intellectual property rights features. This mechanism, according to Achain creators, can perform up to 1,000 transactions per second.

Achain Vs Ethereum

Achain and Ethereum are both blockchain platforms that are focused on the development and execution of smart contracts and applications, and possess a number of similarities. Both of these blockchains are driven by asset digitization, possess built-in digital currencies, and are open source in nature.

In a similar manner to Ethereum, Achain is built on a blockchain that contains participant-created data blocks that are verified by participants. Just like the Ethereum blockchain, the Achain blockchain uses digital currency to pay for the cost of calling smart contracts as well as other transaction fees.

The biggest difference between Ethereum and Achain, however, is the consensus method used. Ethereum uses a combination of Proof of Work and Proof of Stake, whereas Achain uses the unique Result Delegated Proof of Stake consensus method.

RDPoS can be considered as a variant of Proof of Stake- the difference between these can be found in the party that validates the execution of a smart contract. In Delegated Proof of Stake systems, correspondent nodes perform smart contracts in order to compare with the execution of a production block node.

Result Delegated Proof of Stake, however, determines whether a smart contract should be verified by a correspondent node or all nodes in a dynamic fashion that depends on the state of the result transaction at the time of packaging of production block node.

If the execution of a specific smart contract requires a significant amount of time, for example, and the internal state of the smart contract contains a large amount of space, RDPoS uses a number of different strategies to verify it in a rapid manner. Should an unpackaged transaction occur due to an over-sized result of a smart contract, the block generation node only packages the result transaction hash in order to make it possible for all nodes to participate in the verification process.

The Future Of Achain

The Achain platform is a unique approach to the optimization of smart contracts and could potentially reduce the total number of false contracts on the chain. As the Achain platform is open source, it’s slowly gathering a larger number of interested developers. Tony Cui, the founder of Achain, has made a number of remarks regarding the ongoing development of the Achain platform:

“We hope to create the most inclusive and open community atmosphere, our source code has already been uploaded to GitHub. The team is working on enriching related documents and tools, we are phased open source right now and will be open source in real time later. Open source is good for community developers to make better use of the systems. I don’t think there is a perfect blockchain mechanism, but Achain will constantly updated.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide