Blue Ocean Blockchain Application Approach for a Large-Scale Decentralized Collaboration (LSDC)
Blockchain is meant to provide a decentralized trust, which can only be achieved via a globally consistent ledger. In definition, it can be considered as a database technology that provides consistent digital records between unfamiliar nodes over the internet. Compared to traditional distributed databases, blockchain comes with many advantages. Since it provides security, ensuring that the content cannot be manipulated or tampered with, it can be used to make history-tracing and anti-forgery applications.
Extending the simple functions of a blockchain, it’s possible to create a Turing-complete operation – the blockchain smart contract. This is basically a piece of program code recorded on the blockchain. ICO projects use this program code to create logic tokens, making their issuance simpler and hassle-free.
MOAC Blockchain Project
It’s possible to use blockchain-based smart contracts to deal with raw data on the chain, but it remains a challenge to use it when it comes to interacting with the real-world. There have been attempts made to have a solution to this problem such as the decentralized Oracle known as Angur and the blockchain atomic swap of Lightning Network.
MOAC, a blockchain project, has been able to crack the code, providing a complete set of solutions to the challenges. It’s basically a multi-chain system that supports exchange of information between off-chain networks and its own microchains. With these capabilities, it’s able to interact with the real-world, achieving a Large-Scale Decentralized Collaboration (LSDC). This marks a crucial milestone when it comes to blockchain development.
Approaches to Combine Applications and Blockchains
There are two strategies that can be used to develop blockchain applications: using blockchain technology to transform the existing application model; and looking for new applications by simply taking advantage of blockchain features.
LSDC features large-scale collaborative relationships requiring a big number of participants, including IoT devices, AI algorithms, enterprises, groups, and individuals. These strangers need to operate in harmony, which can only be achieved through mutual trust that’s provided by blockchain.
Unlike traditional applications, LSDC based on the blockchain can effectively solve cooperation and trust issues between strangers while at the same time reducing difficulties in participation of the participants. Unique tokens on the blockchain can then be used to promote and motivate collaboration between individuals within the system, distributing the benefits between them. With cooperation and competition between the participants, the entire system runs smoothly without centralized control.