ParallelChain is a blockchain infrastructure developed by ParallelChain Lab, a blockchain research and development company founded by Ian Huang in 2018. ParallelChain powers two layer-one blockchain platforms: ParallelChain Private and ParallelChain Mainnet.
The former is a business-native permissioned platform powering market-ready software built for specific business purposes, while the latter is an open-source blockchain platform where developers can build and deploy decentralized applications using smart contracts. ParallelChain private focuses on being a secure, permissioned blockchain for business users with high data protection needs whilst ParallelChain mainnet is a fast, affordable, and secure public blockchain platform for DeFi and metaverse growth. ParallelChain natively supports Turing-complete smart contracts written in developer-friendly languages such as Rust and GO.
ParallelChain Lab set out to build a scalable and accessible blockchain infrastructure 4 years ago. They started with ParallelChain Private, a permissioned blockchain platform designed for business use with features such as 120,000 TPS, 0.03 second latency, compatibility with IBM AWS and other tech companies, migration capabilities for Hyperledger-powered apps, and built-in data privacy and compliance measures such as “proof-of-immutability” and GDPR compatibility. Launched in 2018, ParallelChain Private has been adopted for use in the financial and public sectors.
ParallelChain is a leader in its field. The mainnet is an open-source public blockchain that enables decentralized applications. It has advanced scaling and security features, supports smart contracts in multiple programming languages, and has a decentralized node system that balances speed and decentralization. ParallelChain solves the problems currently suffered with other blockchains:
Speed: Need for faster TPS to handle commercial scale applications.
Legitimacy: Blockchain transaction fees paid in cryptocurrency not recognized by most countries.
Confidentiality: Enterprises need privacy for confidential business data.
Compliance: Need for compliance with data protection regulations for consumer privacy and ownership.
ParallelChain introduces ground-breaking IPC. IPC is a feature in ParallelChain that allows communication between permissioned and permissionless networks, maintaining security and privacy. It aims to be the infrastructure for Web3 and connect different communities. It provides stronger security through Proof-of-Immutability and allows business users to use the decentralized web while preserving data privacy.
ParallelChain Lab is the future of blockchains and focused on building a solid infrastructure for the decentralized future. The company is behind the development of ParallelChain and integrates AI and data science to ensure its blockchain offerings meet market needs.
The future of blockchains if finally here.
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