OPU Labs
OPU Labs provides a DAG-based blockchain protocol for instant transactions and unlimited scalability at a cost close to zero. The OPU Labs team has set a target of 300,000 transactions per second (TPS).
As a high-performance blockchain, their goal is to become one of the first platforms to break the current payment and supply chain management industries. Focusing on reducing costs, increasing transparency and performing hundreds of thousands of transactions per second, OPU Labs shapes its products in a multitude of areas including food technology, telecommunications, banking, power. and real estate
If you learn about blockchain + cryptocurrency technology, you can see some problems have arisen now. Bitcoin, for example, has to work hard fork to increase the size of the block + speed up the transaction. This is because blocks in blockschain are not going to meet as many transactions occur at the same time. Since blockchain operates on the principle of block chaining, therefore, when multiple transactions occur at a time, it will be blocked. Some third-party smartphone contracts such as ADA and EOS have not been fully resolved.
The radical solution is to create a scalable platform, such as IOTA, NANO, etc. With transactional nodes asynchronous, these platforms allow for fast transactions. than. Since you do not need to wait for sequential confirmation, the transaction can happen at any node. To do this, the platforms use a diagram called the Periodic Table (DAG) for their blockchain. However, the disadvantage of these platforms is the lack of smart contracts.
To solve all these problems, Ico OPU Labs was born. OPU Labs is a smart contract platform based on the DAG platform. Fantom will provide interoperability between all transactions of agencies around the world, a "real time" ecosystem at the lowest cost.
BLOCKCHAIN TECHNOLOGY ISSUES IN CRYPTO
I'm not familiar with Blockchain applications in other areas, so let's just talk about the problem in Crypto. We are interested in Crypto because of its applications. Take the example of Bitcoin, the most successful and famous crypto coin:
- BTC can not produce more, which means it is not inflation like paper money (how much to print).
- BTC can transact rapidly from country to country, from continent to continent, at any time. You even need a smartphone or laptop, which has a network connection, so it's done.
- Extremely high security, the money you move to large or small will also come to where you need to. Unless you enter the wrong address wallet is okay.
- Low transaction costs (before, now is a bit higher). However, be aware that if you transfer the same amount, go abroad, then you probably prefer to use crypto rather than the bank. Transportation fee, waiting time ... sometimes even more tired. At the same time, with crypto, you want to transfer as much as transfer, while the bank limits it.
However, in the process of proving its worth, the BTC in general and many other crypto currencies in particular had to deal with the problem.
TRANSLATION TRANSLATION
If you know the BTC from previous years are used less. Since few people know about it, so the transaction speed of the first time is quite fast. However, as the more and more people use, the exchange of BTC, the slower transaction speed BTC. This may be due to the expansion of the blockchain chain is difficult. You imagine it as the transport network of Saigon, Hanoi for easy understanding. As if to break the ice, anyone is pouring out the road sure the large intersection will be easily clogged, thus slowing down a whole network of traffic. Similarly, as the number of BTC users increases, the blockchain size is forced to increase. Therefore, the BTC must hark fork. However, the increase in this size is quite difficult and not effective.
COST
As you know, in crypto currencies, the role of "miners" is very important. Their training helps to keep the transactions free of congestion. There are two main types of fees that need to be known: the transaction confirmation fee and the mine reward fee. However, in recent years, when a coin is used more (typically BTC), it is more difficult to dig, compete, and profit. As a result, the cost of excavating BTC is increasing, even though the transaction speed has not increased significantly.
HISTORY OF DATA
If you understand the principle of blockchain block chaining, you will probably know: each block of blockchain will store all the data associated with those blocks of blockchains. That data can not be lost, can not be edited or changed.
This makes the blockchain transparent and without cheating. However, it also has a pretty big limitation. That is, we can not access deeper into the older data, the earlier data. In the future, when blockchain is used more widely in life, the management, publicity as well as the right to more access to the data in this very important.
Wedsite: https://ico.opu.ai/
Twitter: https://twitter.com/opulabs
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