What is ParallelChain (XPLL)? All information about XPLL Token

• Overview of ParallelChain (XPLL)
• What is ParallelChain?
• Features of ParallelChain
• Application products on ParallelChain
• ParallelChain development roadmap
• ParallelChain Developers, Investors and Partners
• Overview of XPLL
• General information about XPLL . token
• Allocate XPLL
• How to earn and own XPLL coin
• The future of ParallelChain project and should invest in XPLL coin or not?
• summary

Overview of ParallelChain (XPLL)

What is ParallelChain?

ParallelChain is a cross-platform blockchain, including public blockchain and enterprise (private) blockchain. ParallelChain was built and developed with the goal of bringing blockchain platforms and many toolkits and facilities with fast, efficient and reliable processing speed to businesses in the digital economy. 

Features of ParallelChain 

Multi-platform

ParallelChain deploys and builds multiple blockchains with different configurations to facilitate cross-platform transactions.

• ParallelChain Mainnet – Full : A public blockchain network using proof-of-stake consensus designed to balance decentralization, fast transaction processing speed, and low costs. ParallelChain Mainnet is an open source blockchain network and is protected by the ParallelBFT consensus protocol.
• ParallelChain Private – Sharded : A high-performance private blockchain platform that helps build controlled access applications such as software, enterprise networks. ParallelChain Private powers layer 2 applications with many unique features designed to meet access and data privacy requirements. Applications and smart contracts built on the Hyperledger blockchain can also be easily used on ParallelChain Private.
• ParallelWallet – Individual : A personal blockchain that helps keep users' biometric data, crypto assets, and transaction records secure and private.

ParallelBFT protocol

ParallelBFT is based on the HotStuff protocol with optimized speculative and consensus execution on hash functions. The development team has built a sharding protocol on top of ParallelBFT's foundation that will help provide future ParallelChain Mainnet scalability.

Proof-of-Immutability

The Proof-of-Immutability (PoIM) consensus mechanism is used for the ParallelChain Enterprise blockchain. With Proof-of-Immutability, ParallelChain allows users to participate in multiple and random verification of the immutability of blocks in the network without compromising the privacy of data owners.

WASM Smart Contracts

Theoretically, ParallelChain Mainnet supports smart contracts written in any programming language that can compile to WebAssembly (WASM). But the ParallelChain development team is focusing its pre-development efforts on its SDK and tools based on the Go and Rust programming languages. This allows for easy migration of ParallelChain S smart contracts into the ParallelChain Mainnet and vice versa.

ParallelChain Enterprise

ParallelChain Enterprise is a high performance blockchain platform built and developed for enterprises. ParallelChain Enterprise is the same private blockchain that focuses on enterprise flexibility and privacy. 

ParallelChain Enterprise now has specifications such as transaction processing speed, number of transactions per second, data security ... at the top of blockchain platforms for businesses.

ParallelChain provides a suite of layer 2 applications built on ParallelChain Enterprise that leverage speed, security, and data immutability.

Application products on ParallelChain

ParallelWallet

ParallelWallet is a decentralized cryptocurrency storage wallet used for ParallelChain's blockchain platform. With ParallelWallet, users can store XPLL tokens and interact with ParallelChain's ecosystem through decentralized applications (Dapps).

Outstanding features of ParallelWallet:

• Users can secure, approve transactions, and recover their wallets with multiple forms of biometric identity authentication such as facial, voice, and palm recognition.
• All data on a user's wallet including biometric data is stored in their own personal ParallelChain.
• When using ParallelWallet, users will always be updated with the latest ParallelChain news, status, information... (Coming soon).
• Manage XPLL stakes and user rewards (Coming soon).
• Users have full control and use of their data on the ParallelWallet wallet in accordance with the EU's GDPR regulations on privacy and data protection (Coming soon).
• Support users to store many ERC20 standard cryptocurrencies.

eKYC-Chain

eKYC-Chain is a blockchain and biometric system that securely and efficiently verifies and authenticates user and customer identities. The unique feature of eKYC-Chain comes from its built-in facial recognition capability powered by blockchain technology to help detect duplicate data, enforce flexible access policies, and more.

All data of eKYC-Chain will be immutably stored on ParallelChain. All access to data is monitored and recorded which effectively prevents data leakage or misuse. ParallelChain also addresses privacy concerns by allowing users to permanently delete certain data upon request. This makes eKYC-Chain the only blockchain today that helps organizations and companies comply with the highest standards of data protection laws, including the GDPR of the European Union.

PreventiveChain

PreventiveChain is a security management system that uses facial recognition technology and is built on the ParallelChain platform. This system helps businesses, organizations, and companies to monitor many different types of users and deal with improper use or leak of important company or organization data. 

PreventiveChain logs and protects all user interactions with the system. The data is not only stored on ParallelChain for investigation in the event of a data leak in the future, but also analyzed in real time. Suspicious behavior will be marked, prompted or more serious will lock the computer.

ApprovalChain

ApprovalChain is a mobile and website blockchain system built on the ParallelChain platform that simplifies the workflow, tracks the origin of goods and products, and makes the censorship process transparent. With full compliance with GDPR standards, ApprovalChain combines real-time image processing, facial recognition and timeline creation to help authenticate, manage, and monitor work and production. .

ChattelChain

ChattelChain is a quick asset to tokenization platform built on top of ParallelChain. With ChattelChain users can tokenize a variety of real assets such as real estate, artwork, stocks, etc. ChattelChain provides instant cryptocurrency trading, fraud prevention and is integrated with ParallelWallet wallet .

ParallelChain development roadmap

The development roadmap of the ParallelChain project is as follows:

1st quarter of 2022

• ParallelChain Mainnet First Phase Development
• ParallelWallet's Open-Beta Release
• Host an AMA with ParallelChain's developer

Second quarter of 2022 

• Activating Mainnet Nodes
• ParallelChain Mainnet 2nd Phase Development
• ParallelChain Open Authorization
• Inter-ParallelChain Communication (IPC)
• Inter-ParallelChain Proof-of-Immutability (IPoIM)

ParallelChain Developers, Investors and Partners 

ParallelChain's development team 

ParallelChain's development team includes many famous members in the blockchain technology industry such as Dr.Geoffrey Yuen, Clayton Mak, Ian Huang...

Ian HUANG – CEO : Ian is an entrepreneur and IT infrastructure developer. He worked at Westinghouse, Tektronix, Raytheon, DEC and Hughes Network Systems until he founded XNET Technology himself. Ian is a person with great merit in inventing multi-tasking operating systems, semiconductor design, CPU design and network protocols in TekDOS, SCSI...

Dr. Geoffrey YUEN – Chief Scientist : Dr. Yuen oversees AI development at ParallelChain. He served as principal investigator at the US Navy's Neuroscience Engineering Lab.

Kelvin LAM – Senior Staff Engineer : Kelvin is an engineer who specializes in algorithm design and low latency applications.

Clayton MAK – Director of Product Management : Clayton is an experienced marketer working in big tech companies like Tesla and CryptoSX. He brings ParallelChain valuable knowledge and practical experience in operations, product management, and KYC/AML management.

Jessie CHAN – Chief of Staff : Jessie coordinates and arranges all aspects of ParallelChain's business, including communication with partners and customers.

Partner of ParallelChain

ParallelChain project is currently partnering with many large companies and organizations in the world such as IBM, AWS, ASIA Token Fund, Digital China Coincodex, GTA Ventures...

Investors of ParallelChain

Information is still being updated by TraderH4 team.

Overview of XPLL

XPLL is the main cryptocurrency of the ParallelChain platform. XPLL can be stored in regular ERC-20 coin/token supported wallets like MetaMask , TrustWallet … or in ParallelWallet.

In the ParallelChain Mainnet, XPLL can be used to:

• Payment of transaction costs on ParallelChain.
• Run node validation or authorization to earn block rewards.
• Network management and voting on ParallelChain construction proposals.
• Exchange for ParallelChain software license.

General information about XPLL

• Token Name: ParallelChain.
• Ticker: XPLL.
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: 0xb3b070…eb8036
• Token type: Utility, Governance
• Initial Total Supply: 250,000,000 XPLL
• Circulating Supply: Updating

Allocate XPLL

• Private sales: 5%
• Public sales: 3%
• Nodes: 37%
• Reserve and research: 10%
• Partners and ecosystems (Partnerships & ecosystem): 15%
• Liquidity and listing: 5%
• Marketing: 10%
• Team: 12%
• Advisor: 3%

How to earn and own XPLL coin

Currently, ParallelChain has not made an official announcement about the plan to open the XPLL token sale. However, Investors can still pre-own XPLL through the project's airdrop events.

The future of ParallelChain project and should invest in XPLL coin or not?

Blockchain technology is the essential network infrastructure in the future era of smart connectivity. Where everything will be connected through the Internet of Things (IoT) and 5G, powered by Big Data and Artificial Intelligence (AI), experienced through Augmented Reality (AR) and Virtual Reality (VR). Not only that, blockchain technology also represents an evolution of information technology infrastructure that is from a platform for communicating information to a platform for creating and transmitting value. 

However, this technology is not yet widely applied in practice. Most of the popular blockchain platforms today are mainly designed specifically for cryptocurrencies, lack scalability, have slow transaction processing speed, high gas fees, lack of security, privacy protection when making transactions. This makes many companies, businesses and organizations hesitant to use blockchain in their systems as well as accept payments in cryptocurrencies.

The ParallelChain ecosystem provides tools and means to accelerate the enterprise's transition to a more crypto-friendly business model as well as the application of blockchain technology to the management and production process. , its business. However, ParallelChain is currently only focusing on its product development, but has not yet had a specific direction for the development of XPLL coin. You should wait for official announcements from the project about the release of XPLL to avoid unnecessary loss of money.

summary

Above is the basic information about the ParallelChain project and the XPLL token. ParallelChain is a project to build blockchain platforms with high scalability, fast transaction processing speed, and mechanisms to help secure data in compliance with international standards. Together with a team of experienced developers and advisors in the field of blockchain technology, ParallelChain is expected to bring blockchain technology closer to companies, organizations and businesses through real applications and products. economic.

For more details about the project, readers can view information at the media channels:

Twitter | Telegram | Medium | Project information

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