For those that are unaware, AChain is one of my personal favorite ‘sleeper’ picks for 2018. When a friend of mine first brought this project to my attention, I was skeptical at first. Everyone seems to have a favorite coin or project that they like to ‘shill’ (relentlessly promote) to other people. Nonetheless, I figured, ‘what the heck’, and decided to give it a look through.
Much to my surprise, after looking into the project a bit more closely and examining its idea, structure and technology more in-depth, I completely understood why he was so insistent on trying to get me to understand that AChain was a good project.
So, without further delay — I present to you a full overview of the AChain Platform:
What is AChain?
According to their website, “Achain is a public blockchain platform that enables developers of all levels to issue tokens and create smart contracts, decentralized applications and blockchain systems. Achain is committed to building a global blockchain network for information exchange and value transactions.”
As you can see from the screenshot above, it looks like this project already has its own browser as well as wallet available. This is definitely a positive, because there are a fair number of projects in the crypto space that have yet to manifest either despite exorbitant ICO, pre-ICO, and private sale contributions.
Here’s a small graphic taken directly from their website explaining how their wallet functions:
What I like the most about this is the simplicity of the wallet and the design of its UI. Even though cryptocurrency is based heavily in technology, coding and software, the ‘mainstream adopters’ that we often talk about will more than likely be individuals that are foreign to these fields.
Therefore, simplicity of design will be a major selling point for anyone that is looking to actually adopt and/or use any blockchain project. So, having a complex GitHub link with debug instructions is a great recipe for an, ‘Ah, screw it. I don’t get this stuff, it’s too complex. Let me go do something else’ type of response from prospective customers/adopters.
So, the fact that the wallet has been simplified and created for the most popular platforms that folks own (i.e., Windows OS, Mac OS & phones) means that using a wallet will be feasible for everyone. And since wallets are absolutely critical for the safety and security of one’s coins, this is a major detail that should not be overlooked.
Another thing I like about the homepage itself is that there’s a roadmap located on the homepage of their website if you scroll just a bit further down.
This, too, may not seem like a big deal, but there are numerous projects in the blockchain space that don’t even have an accessible roadmap which can be accessed by prospective investors or adopters of the blockchain.
So, from what we can see in the screenshot above, it appears that the Singularity Smart Contract Network was set to launch in the first quarter of 2018 (which it did), and we should expect the Galaxy Forked Network to launch this quarter, with the Cosmos Interconnected Network to manifest in the following quarter.
But, what are these networks?
Fortunately, the website also has a neatly packaged description of each facet of their coin’s development phases.
Singularity Smart Contract Network
According to the Achain website, the Singularity Smart Contract Network is, “The first stage was enhancing the security and stability of the Achain network. Smart contracts, digital assets and sandbox simulations were made available through a modularized design approach. Sandboxes can automatically test and monitor the environment where the newly created smart contracts operate, thereby ensuring those contracts run in a safe and stable environment within the Achain network.”
This is a Great Idea for Two Reasons:
1.) It’s necessary in order to ensure the stability of the ecosystem that Achain is trying to create.
2.) It shows that the development team on Achain is composed of actual developers.
Below I provide an explanation for why I listed the two reasons above:
For those that aren’t familiar with the concepts of computer coding and development, sandboxes are absolutely critical. This is because sandboxes provide a ‘testnet’ of sorts for developers to see how their coded smart contracts will actually function without having to do a live test on the actual blockchain — risking the loss of user funds or some other unfortunate unforeseen turn of events.
The sandbox idea is actually a function that Ethereum’s developers did not inherently build onto their chain, although there are other applications that were subsequently designed by outside developers for that very purpose.
The drawback of that for Ethereum though, is that articles like this get written about the protocol:
While this headline may have seemed flattering at the time, from an investor standpoint, this is a sentiment that you don’t want your investment to hold. The idea that your blockchain is merely an ‘experimental’ field for those in the FinTech field (whom have very deep pockets) implies that they’re just going to get their ‘feet wet’, so to speak, with your protocol before moving on to what they really want to do.
So, with the implementation of an actual sandbox/testnet, the Achain team proved that they have solid foresight on their project development team. This also gives the chain a chance to allow users to interact with the technology and report any types of bugs/errors that need to be fixed within the protocol and they don’t have to worry about any of those bugs/problems having a devastating impact (see: DAO Hack ; think they could have benefited from using a testnet?)
Not only that, this type of thing just clogs up the network unnecessarily — which is a major problem currently for Ethereum, but is something that Achain has also devised a solid solution for, which we’ll discuss a little later in this article.
Next up, for Q2, the Achain team is expecting to release:
Galaxy Forked Network
Now, there’s not information on the Galaxy Forked Network on the main page, but you can find a more insightful idea of what its primary purpose is on the FAQ page of the Achain website.
On the website, under FAQ number eight, it states, ‘Achain is now at Galaxy stage [on schedule] where it splits into multiple sub-chains to meet the need for different applications in the reality, including insurance, e-documentation, cryptocurrency, record investigation, credit rating, and much more can be fulfilled by sub-chains within an interconnected, low-cost, user-friendly, and customized blockchain network.”
In English please?
So, basically what the quote above that I took from their website is saying, is that the Galaxy Stage will be dedicated to creating a system where the main chain can be split into ‘sub-chains’. These sub-chains are basically like miniature blockchains. So, instead of simply creating an app directly on top of the Achain blockchain, one can create their own sub-chain, with its own independent name, and it’ll function more like a blockchain rather than a token.
There are a ridiculous number of advantages to creating a system like this, which are:
If you’ve noticed, several lofty projects have launched on Ethereum’s blockchain over the last year or so and this has given birth to the flourishing ICO market that we now have in crypto. However, several of those projects have only launched ‘tokens’ with the promise of migrating from the Ethereum blockchain itself at some point to create their own blockchain.
Projects that have stated such intentions include, but are not limited to: $DRGN, $OMG (although they work with Vitalik Buterin, the founder of Ethereum), $BNT (Bancor Network), and several others.
The projects that I named above have raised a combined quarter of a billion dollars. So, for that level of interest and investment to eventually leave the Ethereum blockchain seems to be a waste.
However, if those same companies were using the sub-chain feature of Achain, they would not find themselves having to make such a move from the main protocol where their token is being issued. This is a huge benefit because it means that investors of Achain’s technology will be there to stay.
Another inherent benefit of the Galaxy Stage’s sub-chain structure is that it will make it more…
I state this because it is a lot easier to audit the legitimacy of a blockchain project vs. a token. This is due to the fact that tokens can be created in under an hour if someone already has the necessary tools (i.e., Gas, MEW, and the code).
And often times, there doesn’t need to be a viable product launched with the token. This fact has attracted a substantial number of scammers to the Ethereum protocol with the intentions of merely drafting up a bogus whitepaper and then passing it along to investors as though it were a legitimate project, when they have no plans of creating such.
However, when forced to create one’s own blockchain, this helps to weed out some of the nonsense and scams that are inherent within the ICO field. Thus, on a fundamental level, the Galaxy Stage proposes to use a system of development that is inherently superior to that of Ethereum’s (its next greatest competitor) when it comes to dApp development.
The issue of scalability is at the crux of most crypto projects that have already gained legitimacy in the sphere. Even the grand pumba of them all, bitcoin, has been plagued with issues and/or questions about its ability to effectively scale to a level where it could handle millions of transactions per day and actually achieve some serious adoption.
This issue has been no less mitigated for Ethereum either. In fact, there is some debate among developers in the protocol on whether the scaling solution of ‘sharding’ will actually work (see: Zamfir’s pessimism).
However, sub-chains have been proven to provide a level of scalability that should allow a blockchain to serve an almost infinite amount of throughput on the main chain. This was shelled out in a research review written by Peter Lawrey, the CEO for Chronicle Accelerate.
The slides from that review, posted below, eloquently emphasize the benefits of sub-chain technology:
The above screenshots should just about speak for themselves when comparing the scalability of sub-chains vs. current alternative solutions that are being pursued in the crypto-space for dApp building blockchains.
Now, for the third phase of the roadmap, scheduled to come out in Q3 of 2018:
Cosmos Interconnected Network
According to the whitepaper for Achain, the Cosmos integration is explained as, “The BaaS and VEP (Value Exchange Protocol) concept and technology can not only unify the main chain and sub-chains but also connect the non-blockchain realities to the blockchain ecosystem. This pushes the world’s interconnections to a greater, all-encompassing dimension.”
So, this phase of the rollout makes complete sense, as it is the final piece needed to connect the two prior elements of the roadmap that were dissected above. This is also what will tie everything together to make the Achain protocol a cohesive, fluid-functioning network.
The best part about that is that we’re only one quarter away from this coming to fruition.
This is only a topical overview of the Achain platform, there’s definitely a plethora of additional information contained within their whitepaper that is more than relevant to the entire project as a whole that will be shelled out in subsequent articles, but this should provide a pretty concrete overview of what the Achain platform is, what it does, and how it intends to fulfill that purpose.
In my opinion, there’s no reason to believe that the Achain will not reach each one of its purported goals, and the fact that it has met all of it’s Q1 responsibilities is a huge sign that this will happen in the near future.
For those that have questions or wish to gain any further insight into the Achain protocol/project and how it’s being run, check out the information below:
General Information About Achain
Algorithm: RDPoS (Delegated Proof of Stake)
Price Information (at the time of writing)
USD Price: $0.28
BTC Price: 0.00003228
USD Volume: $30,492,100.00
USD MarketCap: $132,138,839.00
Circulating Supply: 468,399,718
Total Supply: 1,000,000,000
Max Supply: 1,000,000,000
Source Code: Here (https://github.com/Achain-Dev/Achain)
Chat: Here (https://t.me/joinchat/GbZKzQ5-wexioFquTyAXmg)
Website: Here (https://www.achain.com/)
Explorer: Here (https://browser.achain.com/)
Search Engine Results
Achain — Official Site (https://www.achain.com/)
Achain Blockchain Whitepaper (https://www.achain.com/Achain%20Whitepaper%202.0_EN.pdf)
Achain 区块链浏览器 (https://browser.achain.com/)
Upcoming News & Events
Rebrand +New Whitepaper
Date: 30 June 2018 (or earlier)
Description: In Q2 2018, Achain will rebrand and release a new whitepaper
Bass Scalable Network
Date: 30 June 2018 (or earlier)
Description: Achain splits into multiple sub-chains to meet the needs of different applications.
Date: 30 September 2018 (or earlier)
Description: The technology can not only unify the main and sub-chains but also connect the non-blockchain realities to the blockchain ecosystem.
Disclaimer: This article was sponsored by a 3rd-party that works in connection with AChain.