Knowchain is a two-layered blockchain platform that powers decentralized Applications and real world transactions by Smart Contracts and Additional Information attached on-chain.
Knowchain is a 2-layered blockchain that powers decentralized Applications with Smart Contracts.
Our Know Layer
Know layer stores Value transferring transactions of Know units. It is governed by Delegates system following Delegated Proof of Stake consensus.
Our Ano Layer
Ano layer stores information as Smart Contracts and real world data as Ano units. It is governed by the Ultranodes and Service Ultranodes system following Proof of Authority consensuses.
HOW DOES THE KNOW-NETWORK OPERATE?
There are 5 types of normal transaction on Knowchain: Transfer Know, Create a smart contract (including Ano units), Attach Ano units, Request Service on Ano units and Vote for Delegates. There are also 3 special types of transaction on Knowchain: Register as Delegates, Register as Ultranodes and Register as Service Ultranodes.
The Know process is about transferring Know from sender to receiver, or from sender to network, or from network to receiver. The Ano process is about attaching and processing information as Ano units.
- Users create transactions and broadcast to the nearest peers in Knowchain network who are running Full Nodes as Delegates.
- Delegates determine the type of transactions as 1-layered transactions or 2-layered transactions.
- If the transactions are 1-layered transactions (only in Know Layer), Delegates will add the transactions to txpool and broadcast the transactions to the Delegates who are in their turns as Validators.
- If the transactions are 2-layered transactions (will be processed in both Know Layer and Ano Layer), Delegates will add the transactions to txpool and broadcast the transactions to the Delegates who are in their turns as Validators.
The MAJOR Problems Of Current Blockchain Platforms
We identify the lack of real world application in the current blockchains and cryptocurrencies because of its anonymity.
- One area of confusion about blockchain is the perceived negative environmental impact, but this is a problem specific to bitcoin and some other cryptocurrencies.
- It is caused by the limitations of the decade-old design of bitcoin and due to Bitcoin’s mining process that requires a “proof of work” to validate transactions.
- Proof of work is a mathematical algorithm that is essential to validate transactions in the Bitcoin blockchain and consumes huge computational power and energy.
- Which is, again, a Bitcoin issue.
- Bitcoin’s network requires an average of 10 minutes to create a block, and it's estimated that it can only manage seven transactions per second (TPS).
- Ethereum does better (20 TPS), and the IBM blockchain (1,000 TPS) and Ripple (1,500 TPS) are even more impressive.
The Size Of The Block
- Each transaction or “block” added to the chain increases the size of the database.
- Smaller ledger — Not every Node can carry a full copy of the Blockchain, potentially affecting immutability, consensus etc.
- More centralised — There is a high barrier to entry to become a Node, encouraging a larger amount of centralisation in the Network, with bigger players able to take more control.
The Gap To The Real World
- In real world, companies and customers are working on visible contracts with their identities certified to make sure they keep the obligations with each other guaranteed by the Law and Government.
- Employees use their real names and profiles to apply for job vacancies; patients use real information in hospitals and users use their real data to access applications.
- Because of that, there are still limitations in how blockchain can power the real life of people around the world.
THE KNOWCHAIN'S SOLUTIONS
Knowchain is a 2 layers blockchain that powers decentralized Applications with Smart Contracts and Additional Information of users on-chain.
Know blockchain enriches the transaction on blockchain by adding a second layer that can store “anything” as the information of the senders, the receivers and the transactions, from identifications of parties to the appendix attached into the transactions. The additional information in the second layer help the transaction on Knowchain to be as same as in real world.
Users and organizations (applications, businesses, etc.) can interact on-chain more than just transferring tokens (coins) because Knowchain support on-chain information in Ano layer.
Privacy And Utilities
Traditional applications require users to trade off between their privacy and utilities. Users lose their data to social networks to get the best contents and services advertised to them. However, the social networks can monetize the data of users by selling advertising services to businesses. It can be solve by Knowchain. Knowchain allows people to control their own privacy and monetize their own data if they want.
Avoiding Duplicating Data
Knowchain solves those problems by bringing the mutual information of users from many places into blockchain first, allowing users to re-use the data and control the privacy of them. Knowchain also helps in protecting user’s rights to their own data.
We use "Delegate Proof Of Stake - DPOS" and "Proof Of Authority - POA " algorithms instead of "Proof Of Work". Thus, energy consuming is no longer problem.
Very Low Fees
Transactions processing in Knowchain is extremely low in cost. The transaction fee is fixed at 0.1 Know (KN).
Up To 100,000Tx/s
Knowchain process transactions in amazing speed by the solution to integrate many payments in one traditional transaction. Combine with sharding proposal, Knowchain can reach 100,000 TPS
Delegates, Ultra Nodes System
Delegates system and Ultra Nodes system are the backbone of Knowchain and they support effectively the Knowchain's ecosystem, would you like to become an Ultranode?
The Know App
We are developing the Know App. Once you’ve entered into our ecosystem, you can mange every thing. Anyone with a smartphone and an internet connection can partici pate in global marketplace.
Beside of Web-wallet and Web-explorer are ready to use, the Know-App will come soon with the following facilities:
- Know Wallet
- Know Explorer
- File manager
- Delegate Registration
- Ultranode Registration
|Start ||To be announced|
|Total Supply||7,795,482,309 KNOW|
|End||To be announced|
|Tokens exchange rate at ICO ||1 ETH = 50,000 KNOW|
|Minimum Investment||0.1 ETH|
|Main Token Address||0xbfd18F20423694a69e35d65cB9c9D74396CC2c2d (Do not send ETH to this, it is not a Sale Contract)|
Distribution of tokens
|ICO Token sale||50% |
|Team & Foundation||20%|
|Advisory Team Reserve||5%|
|Bounty & Airdrop||5%|
Use of proceeds
|Marketing & partnership||45% |