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5 Minutes to Know about Blockcloud

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5 Minutes to Know about Blockcloud
Source: Pixabay

1st April, OKEx officially announced Blockcloud will be the very first project launch on their new platform-OKJumpstar and OKB will be the only acceptable token for payment. OK Jumpstar is a platform powered by OKEX-top 3 crypto exchanges in China, which is to help quality blockchain projects go public and get listed in a liquid and worldwide market, and at the same time, help fuel the growth of the blockchain market and ecosystem healthily.

Blockcloud has become one of the most popular Internet projects in the Asia and Russia recently. More and more people are struggling to understand the white paper of Blockcloud. We will briefly introduce what Blockcloud is and how the Future Internet will change our lives in this article.

TCP/IP is a familiar word to us. TCP-the transmission control protocol, IP-the network interconnection protocol, the emergence of TCP/IP acts as a bridge, makes different computer networks interconnected, constitutes the basis of the current Internet. The TCP/IP is a prerequisite and the number one contributor to the great prosperity of Internet technology.

However, TCP/IP was born in the 1960s and 1970s to support inter-military calls. It also uses the past IP-based communication method to connect devices, data, and services with a centralized server. It increases the control cost of the network and reduces the efficiency of the network.

It is not suitable for the dynamic Internet scenario, and it is hard to support the accessing of tens of billions or even billions of devices in the future.

Blockcloud, in essence, is an extension of the existing Internet and is the underlying technology of the Internet that can upgrade and transform the current Internet.

It combines the advantages of blockchain and next-generation Internet technology to build an underlying network protocol in the form of “building blocks”, providing continuous connectivity support for dynamic networks, and supporting upper-layer applications more securely and efficiently.

If the existing TCP/IP opens the valve for information flow, the new generation of TCP/IP will bring a beautiful new world of the Internet of Everything!

Now that there are so many underlying public chains, what is the competitive edge ofBlockcloud?

Blockcloud is at the bottom. At the bottom of the Internet, Blockcloud upgrades and improves existing network protocols to build a new generation of TCP/IP that significantly enhances the dynamic, credible, motivating, secure, fair and scalable nature of the network.

It is just like making the roads wider, better and stronger so that the car on the top can run faster, more stable and safer.

To be specific, Blockcloud can be applied to the existing applications, and also better support the blockchain public chains. If we regard IoT, blockchain and other traditional internet applications like cars, public chain projects as engines, tokens as fuel oil, then Blockcloud is the road. Only with the road, can cars drive more safely and freely, and can inform and resources exchange.

Source: Block72

How does Blockcloud achieve this?

Firstly, Blockcloud introduces the Service-Centric Networking [SCN]. Through the Service Access Layer [SAL], the control plane and the service plane are separated. Without the complicated specific IP address, the upper layer application can directly connect to the service via the service name, and the service provider can seamlessly change the address, migrate the service, by which, the network mobility and scalability are greatly improved.

Secondly, solving the problem of insufficient trust and incentives in SCN networks by blockchain technology. Design a proof of service [PoS] mechanism to reliably verify services; Design the distributed peer-to-peer network Coral to save the service information; We devise a truthful continuous double auction [TCDA] mechanism to fairly distribute services. Design BLOC to provide incentives to trade miners and service miners.

Source: Block72

Thirdly, CoDAG [Compacted Directed Acyclic Graph] structure effectively records the transactions. Hybrid consensus protocol combines the advantage of both permission and permissionless protocol and tries to achieve the best of both worlds.

All of the above mentioned are realized in a loosely coupled and hierarchical structure. Which means each layer can evolve independently as if it has a life and empowers the whole system with great applicability and evolvability.

Source: Block72

Core team members come from top universities and enterprises worldwide, such as Princeton University, UC Berkeley, Tsinghua University, University of Tokyo, Peking University.

Over 50% of the core team members hold a Ph.D. with over 80 publications on top conferences and journals and over 30 related patents.

Blockcloudhas the advisory board of world top scientists, including the Nobel Prize winner Oliver Hart as the economic advisor, and the former Obama White House economist Hoan Soo Lee as the chief economist.

The technical advisory board includes 18 top scholars besides Fred Baker, one of the Internet pioneers of the world, 2 IEEE Fellows and 5 National Distinguished Scientists, 4 members of Blockchain Special Committee of China Computer Federation and 15 professors.

Blockcloudestablished close partnerships with top global groups such as Tencent, Huawei, Alibaba, and listed companies. Blockcloud has cooperated with IETF, the most authoritative technology standardization organization on the global Internet, and CERNET which is the world’s largest education network and IPv6 network.

Till2018July, Blockcloud received a total investment of 14 million USD of 100+ investment institutions from 28 countries/regions worldwide, including Genesis Capital,Frees Fund, Icodrops, Signum, OK Blockchain Capital, GBIC, BlueRun Ventures, Linear Venture, Fang Fond, etc.

Source: Block72

Dr. Ming, CEO of Blockcloud, said,

“As a long-term practitioner engaged in the research and development of Internet underlying technology, Blockcloud hopes to introduce the concept and technical advantages of blockchain innovation into traditional network technology, upgrade and improve the Internet, and provide people with better network infrastructure and online experience for their production and life.”

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Press Release

Are Blockchain Casinos on the rise?

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Are Blockchain Casinos on the rise?
Source: Pixabay

Over the years, the online casino industry has gone through many changes with new technology allowing for better payment methods and software on the sites. One of the newer additions to online casino sites is blockchain and sites that use this.

Here, we are going to discuss whether we think that blockchain casinos are on the rise or not. Keep reading if you’d like to find out more about these casino sites.

What Is A Blockchain Casino?

Blockchain technology is essentially a system that allows digital information not to be copied when it is being distributed. This technology originally started out as a method for Bitcoin which is a cryptocurrency and now is present in many online casinos. Blockchain was first invented in 1992 and since then it has come a long way.

A blockchain casino is a safe and secure casino that uses this special technology to pass the information on. There are many new casino sites that are already using blockchain technology but is the number of these still rising?

Why A Blockchain Casino?

You might be wondering about the advantages of blockchain casinos and why many casino operators are making the switch to this technology. The main reason for this is that there are many advantages to using this technology. Firstly, there is more transparency and trust and there is also a reduced risk of fraud.

This is something which is very important to many players at online casinos as they want to make sure that they are not passing their details onto a company that is going to sell it on.

When a casino uses blockchain technology, they can also allow players to make payments with cryptocurrencies like Bitcoin which are becoming even more popular in recent years. Of course, there are many other advantages of using a blockchain casino both for the player and the operator. For this reason, we have seen a rise in the number of blockchain casinos online right now.

Issues With Blockchain

There are some minor issues with blockchain casinos that operators are working hard to resolve as soon as possible. The fact that it is new means that there are some general infrastructure issues and the transactions can go through a lot slower than some players would like. Of course, these issues are set to be resolved sooner rather than later.

The Rise Of Blockchain Casinos

From the research done by companies interested in blockchain casinos, it is clear that these casinos are on the rise. In the first quarter of 2019 alone, there was $1 billion of TRON cryptocurrency gambled online. This is a lot of cash and it shows that players are not afraid to try out this new type of casino when it comes to spending their own cash.

Research also suggests that this income came from over 432,000 users which are a lot more people than it would have been in the past when this technology was first invented.

Of course, it is also important to note that the online casino industry is growing at the same time as the popularity of blockchain casinos. It is expected that the online casino industry will earn more than $50 billion this year which is a lot of cash.

With more people playing online in general and the technology improving so much – it is expected that blockchain casinos will become even more popular as time goes on.

Final Verdict

It is clear that blockchain casinos have been on the rise for a while now and they don’t plan on stopping any time soon. As the technology gets more advanced and players can be sure that their details are going to be kept safe, these casinos are set to become even more popular.

On top of this, online casino regulators can rely on technology when it comes to ensuring casino operators are sticking to the regulations. Look out for the rise of blockchain casinos as time goes on and more casino operators start to make the switch to this technology.

We expect more payments being allowed in Bitcoin form as well as the other cryptocurrencies that are gaining a bit of momentum right now.

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