Insight Chain Released INB Public Blockchain Development Plan: In 2019 and 2020, a total of 7 versions of INB Public Blockchain will be released. By the end of 2020, the design of the Technical White Paper will be basically completed, thus forming a complete Public Blockchain operating under VDPoS (Validated DPoS) consensus mechanism and establishing the world's first big data ecological Public Blockchain that can be infinitely expanded. The INB Public Blockchain will be supported by super nodes, verification nodes and supervision nodes, and operate in a completely decentralized manner. INB holders and nodes will receive INB incentives by Staking, and INB Committee will make offline governance decisions.
It is reported that the INB Public Blockchain test network was successfully launched on June 30 and its first version will be released in the near future. After that, Insight Chain will make an in-depth analysis of the technical and economic models of the INB Public Blockchain, and begin to organize the INB Committee election, node election, and developer competition to build a complete ecosystem of the INB Public Blockchain.
Insight Chain (INB) Public Blockchain Development Plan
The Technical White Paper released by INB Public Blockchain in February 2019 gives a complete description of the technical realization of INB Public Blockchain. The core objectives of INB Public Blockchain are to improve scalability and meet the needs of business data’s storage onto blockchain for more applications to realize the transaction data processing capacity of over 100,000 per second (100,000+TPS) and the business data processing capacity of over 1 million per second (1,000,000+TPS) on the premise of satisfying de-centralization and security.
INB Public Blockchain has three major innovations:
VDPoS (Validated DPoS) consensus mechanism to effectively improve the degree of decentralization and security;
Multi-parent blockchain + multi-subchain architecture to improve the vertical and horizontal scalability almost indefinitely;
Business data’s structural storage onto blockchain to realize three-dimensional data storage onto blockchain, and the Public Blockchain consensus ensures the credibility of data.
INB Public Blockchain is designed and led by CTO Jason Ji (Ji Jianxun). There are currently 15 members in senior technical teams and it is planned to maintain a 30-member Public Blockchain technical team in 2020. Jason has more than 10 years of software R&D and management experience. He is a full-stack engineer who has worked in Samsung, Teradata and other world-renowned companies. He has served as a senior Samsung algorithm training lecturer with deep attainments in the blockchain field and has applied for more than 100 blockchain-related technology patents to protect INB Public Blockchain technology and ecology in a defensive way.
The INB Public Blockchain began to be developed at the end of 2018 and will be launched on the test network on June 30, 2019. During the 7 months, the feasibility of various concepts put forward by the INB Public Blockchain has been verified, and the development of the first MVP (Minimum Viable Product) version has been completed. We are promoting the research and development of the Public Blockchain guided by the spirit of excellent entrepreneurship.
In 2019 and 2020, a total of 7 versions of INB Public Blockchain will be released. By the end of 2020, the design of the Technical White Paper will be basically completed, thus forming a complete Public Blockchain operating under VDPoS (Validated DPoS) consensus mechanism and establishing the world's first big data ecological Public Blockchain that can be infinitely expanded. The INB Public Blockchain will be supported by super nodes, verification nodes and supervision nodes, and operate in a completely decentralized manner. INB holders and nodes will receive INB incentives by Staking, and INB Committee will make offline governance decisions.
Every quarter, the INB Public Blockchain will release major version upgrades. We will promote the development and upgrade of the INB Public Blockchain rapidly with the spirit of excellent entrepreneurship. The test network released at the end of June is the INB V1.0 β version, which is the minimum feasible version of the INB Public Blockchain and the realization of the core version: The mechanisms of DPoS, PBFT and Staking indicate that the INB Public Blockchain has grown beyond the concept verification stage, demonstrating the strong Public Blockchain R&D strength of the INB team. Next, INB will start the countdown of the main network go-live, and continue to upgrade the INB Public Blockchain in multiple directions such as business data’s storage onto blockchain and scalability.
2018 Q3-Q4: The development and operation of Insight DApp, the design of INB Blockchain;
2019 Q1: Write the technical white paper, feasibility validation and the development of the prototype;
2019 Q2: Launch the Testnet, implement DPoS + BFT consensus;
2019 Q3: Launch the Mainnet, realize multi-child chain architecture, business data onto blockchain;
2019 Q4: Realize multi-main chain architecture, smart contract based on IVM and INB transaction engine;
2020 Q1: Realize INB utilization model and the main chain’s self-adaptive sharding mechanism.
2020 Q2: Realize the random validation mechanism based on VRF and to completely implement VDPoS consensus algorithm;
2020 Q3: Realize the cross blockchain mechanism both among public blockchains and among main-chains and child-chains;
2020 Q4: Realize business data trading on blockchain, the high-speed query mechanism of business data and transaction.
For details, please refer to the official website of Insight Chain (INB):
http://www.insightchain.io,
and download the Insight Chain (INB) Technical White Paper:
http://file.inbhome.com/inb/INB_technical_whitepaper_v1-CN.pdf.
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