Weekly Report 丨 Insight Chain (INB) Public Blockchain & Ecosystem (2019.11.18-2019.11.24)

Abstract：Design implementation scheme for business data’s storage onto blockchain.

▶ Public Blockchain ◀

I. INB Public Blockchain

1. Survey bigchaindb, filecoin, chainSQL, covenantSQL, etc. to understand the key storage points of structural data and prepare for the business data’s storage onto blockchain.
2. Design implementation scheme for business data’s storage onto blockchain.
3. Cooperate with wallet and browser to debug functions such as Light Token transfer and inquiry.

II. INB Wallet

1. INB Wallet internationalization has been completed.
2. The Android version of INB Wallet is already online.
   Visit http://www.insightchain.io/html/wallet.html to download.
3. INB wallet will then carry out token planning and design.

Ⅲ. INB Block Browser

1. INB Block Browser H5 and WEB Token Module are under Development. Details about the lock-up of tokens and available assets under the account address have been added.

▶ Ecosystem◀

I. Insight DApp
Insight DApp is in normal development phase

1. Insight DApp has now completed the test of transaction record details and App transaction data’s storage onto blockchain.

▶ Operations ◀

1. Insight issued and recycled 8756 questionnaires this week.
2. The number of participants in Insight's community rating has reached 7,456, with BTC score of 7.41, ETH score of 7.33 and USDT score of 7.26 (Ten-point system) so far.
3. As one of the ecological members of the INB Blockchain, INB SHOP enriches the application scenarios of INB, and meanwhile forms a closed loop of user experience from “investigating = mining” to commodity exchange. Since go-live, 1,236 orders have been completed, with a cumulative turnover of 61,930 INB. Last week, the turnover is 2943 INB, down 16.8% week on week. In addition to the time-limited commodity exchange function, INB SHOP will offer a fair-price commodity on a daily basis and an off-price commodity on every Friday to meet the needs of more INB mining users.

-END-
About Insight Chain
Insight Chain is the next generation of commercial basic public blockchain, aiming at establishing the world's first data ecosystem public blockchain with infinite scalability by realizing a secure and efficient blockchain system, as well as business data’s structural storage onto blockchain and transaction, and truly supporting high-concurrency Internet applications’ operation on the blockchain.
[The First VRF-based VDPoS Consensus in the World]
Insight Chain applies a new consensus algorithm: VDPoS (Validated DPoS, Verifiable DPoS) consensus. This algorithm is an organic combination of DPoS + BFT + Validated Nodes. Validated nodes are introduced, based on DPoS consensus; validated nodes are selected based on VRF random lottery mechanism; and validated nodes use BFT consensus to perform secondary verification on blocks.
[First Sharding of the DPoS Consensus Kind in the World]
Insight Chain will conduct sharding based on VDPoS consensus to further improve TPS of the blockchain. We use a hybrid architecture of Multi-Main Chain + Multi-Child Chain. According to the resource utilization of the whole blockchain, the super nodes are automatically sliced to form a multi-main chain parallel block generation mode to take the best of network resources and super node resources, so as to greatly improve the block generation speed as well as the vertical scalability of the blockchain; meanwhile, multiple child-chains can be started on the main chain according to the application situation to support more DApp business data’s storage onto blockchain and increase the horizontal scalability of the blockchain.
[The First 3D Data’s Storage onto Blockchain in the World]
Insight Chain can realize business data’s structural storage onto blockchain to form a unique on-chain storage model for three-dimensional data. The traditional blockchain can only store the data content or the hash. And the on-chain data are not structural which cannot express the information such as association between data and data attributes, thus unable to guarantee the credibility of data. We use a structural way to save business data and ensure its credibility through the consensus of the chain. Business data can then be self-interpreted through the chain itself, while unstructured data need to be interpreted through third-party applications, thus truly realizing the credibility of data and ensuring the value delivery of data.
At present, the INB team has applied for more than 300 patents for technological invention related to blockchain to protect the technology and ecology of the INB Public Blockchain in a defensive manner. In the meantime, Insight Chain is preparing to establish a Blockchain Patent Alliance within which all enterprises will be authorized to use the patent free of charge, so as to inherit the openness and sharing spirit of blockchain, and to appeal to more partners to make contribution to the patent pool by joining us.
Contact Us
Official Website: http://www.insightchain.io
WeChat Official Account: InsightChain

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