Plutos’ Partnership with Solana, BSC and Polkadot for their Technical Architecture.
For today’s discussion, we’ll be exploring the technical architecture with respect to its supporting structure; the trio made up of Binance Smart Chain, Polkadot and Solana.
The construction of a synthetic platform such as Plutos Network requires scalability, security, and accessibility to a large user base. Keeping this in mind, these three Blockchains were chosen for Plutos Network’s long-term and continual growth.
Why use Binance Smart Chain though ?
Binance Smart Chain is a blockchain service that allows developers to use smart contracts to create their own decentralized apps. Binance Smart Chain was created to deliver the same type of fast transactions while also vastly enhancing the available features and capabilities.
Binance Smart Chain is ready to establish itself as a user-friendly alternative to the predominantly Ethereum-based decentralized financial sector, with the backing of Binance, the most dominating firm in the cryptocurrency industry. It is also compatible with the Ethereum Virtual Machine (EVM), which means it can run dApps that have been migrated over from Ethereum.
Some of the features BSC offers include:
- Binance DEX, the premier decentralized exchange, is powering a thriving digital asset ecosystem.
- Low transaction fees of as little as one cent
- High performance, with a network that can generate a block every 3 seconds.
- DeFi cross-chain methods that improve DeFi interoperability
- Binance ecosystem that sponsors and bootstraps various DeFi initiatives
- Binance.com and Binance DEX are part of a thriving ecosystem with millions of users.
- BSC already collaborates with a network of significant crypto projects.
Solana on the other hand ….
Solana is an internet blockchain that delivers decentralized apps and marketplaces that are quick, safe, and scalable. The network employs a number of novel and innovative technologies to deliver users with unrivaled transaction speeds and enterprise-level security. Solana software’s primary purpose is to demonstrate that there is a feasible set of software algorithms that may be combined to form a blockchain.
As a result, transaction throughput would rise proportionally with network capacity, achieving all of the blockchain’s qualities: scalability, security, and decentralization. Currently, the system can handle 65,000 TPS (transactions per second) and 400ms Block Times.
The Solana team designed eight critical systems in order to construct a decentralized, permission-less network with the efficiency of a single node:
- Proof of History (POH) — a timer that starts before consensus;
- Tower BFT — a PoH-optimized variant of PBFT
- Turbine — a protocol for block propagation
- Gulf Stream — Mempool‐less transaction forwarding protocol
- Sealevel — parallel smart contracts run-time.
- Pipelining — a Transaction Processing Unit used to optimize validation.
- Cloudbreak — Horizontally-Scaled Accounts Database; and
- Archivers — Distributed Ledger Storage.
Lastly, Polkadot ….
Polkadot will serve as the basic technical foundation for Plutos Network’s cross-chain functionalities, allowing the system to communicate with para-chains and other prominent Blockchains.
The opportunities that come with this collaboration are quite amazing. On the list are:
- Polkadot can handle an endless number of blockchains and connect them all. These are referred to as para-chains.
- Because multiple blockchains use different consensus processes, the Polkadot platform hosts them using an open and extensible consensus system.
- The framework can facilitate the transfer of value between blockchains. It is required for true interoperability and integration.
- It features a well-defined governance system, which avoids a major issue that other blockchains confront.
- Polkadot can support upgrades without requiring major hard forks to implement change.
- A centralized security umbrella can protect the blockchains connected to Polkadot. This can aid in the protection of small chains that lack adequate security infrastructure.
- Polkadot claims to have lower transaction fees than Ethereum.
To sum it up, Solana, Polkadot, and BSC are the three pillars upon which Plutos Network’s technical infrastructure will be built. BSC, with its strong ecosystem support, demonstrates that it is a Blockchain with tremendous growth potential. Solana offers decentralization, scalability and quick transactions; and the immense benefits from Polkadot are sure to boost the productivity of the Plutos Network.