We all know that a public chain refers to a blockchain that can be read by anyone in the world, anyone can send transactions, and the transactions can be effectively confirmed, and anyone can participate in the consensus process.
At present, as far as the entire digital asset market, or blockchain projects in the market, follow the development logic of “underlying public chain→solution→industry application”, the underlying public chain is the foundation, and the solution is to expand the bottom layer. On the basis of the performance of the public chain, or the convenience of commercial applications on the underlying public chain, industry applications can truly flourish. This is similar to the upstream and downstream relationship of an industry. Of course, the reason why we wrote the public chain in the first place is not only because it is in the entire industrial chain, but also because of the importance and necessity of its own technology for the entire downstream industry.
So how does the value of the Poriot public chain reflect?
According to the development logic of “underlying public chain → solution → industry application”, we can know that only the real bottom-level innovation can drive the development of the entire industry from top to bottom. The consensus mechanism is the core of the bottom layer of the blockchain system. Therefore, the essence of Poriot’s value comes from the POR consensus mechanism.
Proof of ownership is a new value-based consensus proof mechanism, which is positioned to build a decentralized, P2P truly distributed system based on nodes contributed by miners! In this system, each user can contribute node resources, including computing, storage, network, Internet of Things, data resources, and use tokens to incentivize resource contributions; at the same time, Poriot-based PayPort Wallet wallet payment system will support the future The economic transaction circulation of tens of millions of DApps in multiple application scenarios.
Based on the POR consensus, Poriot allows miners to contribute computing resources, storage resources, and network resources, and assign corresponding weights to prove that the resources of miner nodes are effective and credible. Resist many types of attacks such as Sybil attacks, outsourcing attacks, and generation attacks.
Also based on the POR consensus mechanism, the Poriot native public chain has the following three major advantages compared with the existing blockchain network:
1) Make the gas fee of the transaction close to 0 (only 4 micro Usdt Gas fee per transaction);
2) Form a killer native public chain, which far exceeds the current mainstream public chains (including but not limited to BitCoin, Ethereum, FileCoin, etc.) in terms of TPS, business latency, gas fees, security, etc., and can pass POR Proof mechanism to realize the maximum benefit utilization of mining machine resources; thus allowing mining machines to serve all ecology and applications on the chain.
3) Using multiple cross-chain mechanisms to couple with multiple public chains to seamlessly connect Poriot with existing and future rich blockchains. Poriot enables applications and token transactions to be seamlessly switched and transferred between Poriot and other public chains. ; For example, use smart contracts to connect to Ethereum and Layer 2 networks (such as zksync) or side chains (such as Polygon) built on Ethereum, and provide business access to other public chains through the JSONRPC-based web3 interface and smart contract mechanism.