Press Release

The Innovation of LikeLib 2.0 Redefines Public Chain Technology

Published

5 years ago

January 8, 2021

LikeLib is a community-based open source blockchain project that uses blockchain technology and digital identities to digitize and informatize assets; use smart contracts to automatically manage assets and information to achieve a diversified network of “smart economy”.

The ecosystem joins the major communities around the world to participate, and is committed to linking all with an open mind, thus building a decentralized network that can expand and achieve multi-party collaboration and win-win in real business society.

LikeLib public chain team leader Mr. Thierry, operations director DIma, and technical general counsel Ms. Olga. All of them have very strong technology and business background.

LikeLib’s core members include Technical Director Mr. Renia, Mr. Yevgeny, Technical Director Daniel, Software Engineer Oleg, Sergey, Dennis, Business Analyst Mr. Andre, Ms. Tania and the community technology development team Ms. Julia Palamarchu, Maksim Hryhoryeu, Daniel Harapko, Anre Ku, Alexey Nekrasov, Alex, etc. have many years of experience in relevant positions in Dublin internationally, as well as abundant professional knowledge and skills.

Some ecological applications of LikeLib blockchain include:

1. The best solution (Biteacon)

Biteacon is a browser that interacts with the LikeLib ecosystem, which can help users explore other network-related information such as its blockchain and transaction volume.

2. The best smart contract (Supplike)

Supplike is a platform with built-in embedded supply chain builder based on LikeLib blockchain. With the built-in builder, you can easily design and deploy the supply chain, assign roles and use it easily, and create code-free solutions for the supply chain through mobile apps.

3. The best solution (LikeLib Analytics)

LikeLib Analytics is the LikeLib blockchain browser and analysis platform, indexing all blockchain data through the big data pipeline and disclosing data and indicators through API and WEB applications.

On this basis, the “blockchain + edge computing” IoT management system, the research of the electronic degree certificate management method of the alliance chain, relay cross-chain technology, channel state differential information vital signs detection algorithms, research on people counting methods based on WiFi perception, Internet of Things architecture for electrical fire monitoring of ancient buildings based on edge computing, and multi-field and interdisciplinary expert selection algorithms for multiple project ecology and algorithm system applications have been successfully developed in the LikeLib public chain main network.

LikeLib 2.0 provides a more secure and stable blockchain service, which covers data connections, hybrid storage, cross-chain technology and other core modules with independent intellectual property rights, which can quickly build solutions for typical application scenarios.

The newly-released 2.0 system will not only reduce transaction program fees, but will also cause block chain replication forks and increase transfer transactions. The average transaction value can be allocated between operational interruptions. Compared with the previous version 1.0, the transaction volume has steadily increased to 10,000 transactions per second, and the transaction speed is about 10,000 TPS.

In terms of supporting smart contracts, interchangeable consensus mechanisms and distributed storage networks, the blockchain consensus mechanism can be replaced according to different factors (such as transaction volume), and a distributed storage network based on IPFS can store a large amount of data outside the chain.

LikeLib2.0 fully uses database fragmentation technology. Only a small part of the input transactions need to be processed, and a large amount of verification work can be completed through other conventional parallel processing on the network.

LikeLib uses Bridges technology, which is a blockchain interoperability technology specifically used to make the LikeLib ecosystem cross-chain compatible with external blockchains (such as Ethereum).

LikeLib cross-chain bridge technology allows cross-chain assets and information exchange between the main network and each project ecosystem, like the axis connecting various islands. The LikeLib blockchain network realizes cross-chain through bridges, which greatly promotes the large-scale assets of ecological projects such as Bitcoin and Ethereum, and the real market liquidity of information. The advantages include multi-signature technology/ring signature technology/hash locking technology.

In addition, LikeLib2.0 also uses Lightning Network transactions and zero-configuration transaction channels.

The existing hosting solutions on the Lightning Network only manage their users’ funds on one or a few, and they will not use one channel with each user. Instead, keep an internal private ledger to record when the funds belong to the user.

Earlier we mentioned the ring signature technology in the LikeLib2.0 cross-chain bridge. The ring signature is named because a certain parameter implicit in its signature is composed according to certain rules. Many of the schemes proposed later do not require the structure of the signature to be a ring, as long as the formation of the signature satisfies the spontaneity, anonymity and group characteristics, it is also called a ring signature.

The security of the ring signature technology scheme is quite high, such as: unconditional anonymity, unforgeability, unconditional anonymity of the signer, and the signer can freely specify his own anonymity range, forming a beautiful ring logic structure, which can realize group signatures The main function of but does not require trusted third parties or group administrators.

Ring signature is a special group signature. There is no trusted center and no group establishment process. For the verifier, the signer is completely anonymous.

Theoretically, zero-knowledge proof can prove something to everyone else without exposing any proprietary, and the generated proof is small in size, the verification cost is very low, and it has nothing to do with the amount of calculation that needs to be proved.

LikeLib2.0 uses the generation algorithm (G) to generate public parameters for the proposition, the proof algorithm (P) to generate the proof of the satisfiability of R1CS, and the verification algorithm (V) to verify the proof and other technical methods and means to finally generate the proof. It can be proved that there is a secret value reset equation satisfied without revealing the secret.

LikeLib2.0’s “decentralized and distributed” technology means that all information is publicly recorded on the “public ledger”, and can only be entered and cannot be modified, so that the complete copy of the blockchain includes each executed action, so About the value belonging to each active address (account).

The overall situation has continued to iterate for thirty years, and only then has today’s prosperity been achieved, and only then has “Internet +”. If you still have confidence in the blockchain, perhaps you should give it more time. The LikeLib2.0 public chain system has already given the blockchain a gratifying answer in 2020.

About Author

Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Press Release

Hyperlite: Professional LED Solutions for Industrial and Commercial Environments

Published

3 hours ago

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Cloud PR Wire

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Hyperlite: Professional LED Solutions for Industrial and Commercial Environments
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