$XPLL public-personal-enterprise blockchain unites the fragmented market with a parallelism approach. ParallelChain is a blockchain infrastructure protocol based on a delegated proof of stake (DPoS) consensus mechanism.
Its development is by ParallelChain Lab, a blockchain research and development company founded by Ian Huang in 2018.
We look at the parallelism approach in relation to this project to view its capability in the market.
Parallelism Approach of the Project
The parallelism approach means that its network configuration can be in four modes (public, private, consortium, and hybrid). Public and Private chains work in parallel, secured by one layer.
This makes $XPLL comprehensive and interoperable in terms of its use cases.
ParallelChain can be applied to a number of sectors, be it FinTech, smart transportation, airports, container ports, hospitals, factories, or the central bank digital currency (CBDC). And with the current trends in the crypto market, its use is likely to be a chain for DeFi, tokenization platforms, etc.
ParalleChain can come in two chains, which are;
1. ParallelChain Enterprise
This is a permissioned blockchain platform with commercial scalability and protocol-level privacy mechanisms for business data protection and compliance. Moreover, the enterprise chain has been in charge since 2018 and is still working. Using their technology, there are a number of business partners under their wings.
2. ParallelChain Mainnet
All crypto enthusiasts should wait for this as its making is for everybody.
Some of its Pros;
It has a high throughput
It has a low latency
It is open-source
Offers a multi-language support
It has a multi-tiered operation system
Moreover, the three-tier node operation system is tied with tokenomics and reward systems based on their transaction fee design.
Tokenomics
ParallelChain thinks it is better to have a low, fixed issuance rate in the long run. This helps keep transactions flowing and prevents agents from leaving the system. Those departures would otherwise risk a downward spiral of value-depletion setting in.
Furthermore, they opt for a deterministic, declining issuance rate schedule that levels off at a low, fixed long-term rate agnostic to network staking levels.
Solana has an elegant parameterization for this issuance design style, which they choose to follow.
An initial issuance rate of 8.0% per annum
An annual rate decrease of 15.0% per annum
A long-term issuance rate of 1.5% per annum
Apart from those two chains described, they have products ready for enterprise usage. Additionally, they are EU GDPR-compliant. All of their products/chains are interoperable thanks to "IPC"- Inter-ParallelChain Communication.
On the other hand, the sharing security feature enables the permissioned and permissionless networks on ParallelChain to interoperate securely at a protocol level. As such, this allows businesses to access the decentralized space while maintaining security and privacy attribute.
Final Thoughts
Overall, the project looks exciting: working private chain, mainnet chain coming, fast, safe, scalable, and decentralized.
They need some marketing campaigns around token launch to get recognition. Price and initial market cap are unknown, but if they start from a low market cap, it will be an excellent opportunity for all investors/speculators.
Disclaimer: Opinions in this article are not financial advice. Always DYOR before venturing into a project.
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