To comprehend what blockchain is, the manner by which it works and why it makes a difference, you don’t really require a degree in software engineering. You need to understand your DNA! Yes, you heard it right, Blockchain—the underlying technology first developed to support Bitcoin—creates a record analogous to the way DNA is recorded in our genetic code.
Bitcoin—and other cryptocurrencies—empowers the trading of significant worth between two entities, yet without a bank or other delegate in the middle. The typical role of a bank in transactions is to verify the client and approve an accessible equalization, ensuring cash isn’t spent twice. A blockchain assumes control over that role in digital currency transactions.
Blockchain, similar to a gene, is a database that holds data. In any case, instead of an arrangement of DNA go from age to age, blockchain shapes the connection through cryptography—the exploration of “secret writing.” Although, the proof of work method has proven to be unable of processing large amounts of transactions efficiently. Different approaches to this problem have proposed.
Multiple blockchains like Ethereum and EOS have initiated their respective solutions to the problem of “scalability”, yet no project has actually been proven to provide scalability on a commercial scale.
The Rise of a New Blockchain Inspired by Human DNA
Forctis a Swiss-based company creating a new and advanced blockchain inspired by the manner in which DNA works equivalent of a DNA molecule, it “binds” to it and hence to the Blockchain.
Solid teams are often the key differentiator between an ICO that enjoys wild success and one that falls flat, forctis is an ideal example of an Ideal team, the collective intelligence is always stronger, and combined experience is always broader. The CEO of forctis, Eduardo Salazar is a widely known Economist specialized in econometrics, has worked for both the World Bank and the Inter-American Development Bank in the past.
The base provides a node-managed token platform: ARES, the acronym for Asset representation system, a polymorphic digital token. There are three different types of nodes: main nodes, feeder nodes, and sentinel nodes.
Ultimately, this structure makes it possible for overlapping information and assets to be stored in these “fibers”, as well as horizontally and vertically. This technique allows for maximum efficiency and scalability. The length of the token and thus the storage space to be used is significantly influenced by how much information is stored in it. And this without having to use any side-chains or similar auxiliary solutions. But speed also matters! Simulations of our concept suggest that this algorithm is many times faster than current blockchain systems and is also extremely scalable.
Forctis creating a reasonable Asset Representation System dependent on a unique blockchain platform, here Representation refers as the capacity to convey important data around a asset, that asset could be anything- house, a vehicle, a bike, or stocks. The concept of blockchaining the property rights isn’t new but the new way of implementation and representation of rights makes it different. Representation is basic since it makes essential value-based information about resources completely noticeable to different individuals from society. Models of such data are present financial status, resource potential (e.g. competitive and locational interests) and history of possession, currently no other token in some other blockchain plan that shares its characteristics.
The platform will also be integrated with a unique stablecoin “GenS” which will be a functional part of the ecosystem, and unlike other stablecoins, there is no counterparty risk in GenS and there are no USD dollars on any Caribbean bank (or not …). GenS is purely algorithmically regulated via the nodes that regulate the money supply. The goal is to find a simple and reliable solution for worldwide cash flows. Price stability will be achieved on-chain via so-called “smart nodes”, which market signals will be processed in a monitoring model, controlling the money supply as needed.
This new blockchain could be the game-changing technology as it claims to overcome all the drawbacks of present blockchain models. for more information, you can check – forctis.io