The first anniversary of PlugChain: technology is backward compatible, ecology grows upward
Over the past year, the crypto market has slumped from a frenzied bull market peak to a trough. The popularity of the new public chain has also plummeted from being a group of heroes more than a year ago to today. And because of frequent thunderstorms, the encryption market has been stagnant. And the new public chain lacks an unsustainable prosperous ecology; the story of the public chain is no longer attractive, and many public chain projects have been forced to stop. However, PlugChain has successfully withstood the test of the crypto market, kept moving forward, and became a surviving public chain in the industry.
As a public chain with an aggregated cross-chain oracle as the core, PlugChain has been able to operate safely to this day, and continues to innovate in products, which is enough to prove its unique advantages. Therefore, on the first anniversary of the establishment of PlugChain, by reviewing the development history of PlugChain, we will summarize the core competitiveness of the public chain and the development trend of the public chain.
01. Step by step, the ecology grows upward
August 2021 is a brand new starting point for PlugChain. From the public chain project establishment to the formation of the team, after countless days and nights of fine polishing by the team, PlugChain ushered in the first show of the main network: official browser, PlugChain main network and infrastructure Officially online.
The ecological token PC was also born during the rapid development of community consensus, and successively developed and traded on Lbank, XT, and BitMart trading platforms, becoming the underlying token of the PlugChain ecosystem. Similarly, in the public chain track of last year, mainstream new public chains such as Solana, Cosmos, Polkadot, and Near set off a boom in the price of public chain coins. PlugChain’s ecological token PC is also not far behind, with the highest annual increase of 300+ times, ranking the top 5 in the currency price increase list for one week in a row, and has become a hot public chain currency for a while. Behind this surge in value is not only the demonstration of the public chain ecology taking shape, but also the value cohesion of the community consensus on PlugChain.
Likewise, we have also achieved excellent results in our strategic layout. In March of this year, its ecological token PC was officially included by Coinbase, and we became a member of the global mainstream public chain. That same month, we also partnered with Armors to pass a security audit of their smart contract code. In addition, there are also shadows of our forays into distributed storage and Web3.0 ecology, establishing in-depth cooperation with SINSO on the construction of Filecoin Layer2 and Web3.0 ecosystems, linking the advantages of both parties, and jointly promoting the development of the blockchain industry.
Ecological layout, we never stop. While improving the public chain’s own infrastructure, it also continuously expands the ecosystem on the chain. As early as November last year, the official PlugChain wallet was officially launched, and a few months later, it was logged into the Google extension store. In May of this year, the official wallet 2.0 upgrade was completed, and the DApp function section was opened. In addition, we have also launched the cross-chain bridge project planning, which provides a favorable tool for the public chain to interact with assets across the chain, and also contributes to the project’s own ecology.
02. Steady and steady, technology is backward compatible
Technology, as the core element of the public chain. PlugChain has been adhering to the attitude of “keep improving” and constantly polish the core technology and improve the performance of the public chain.
In order to bridge the gap between the traditional market and the Web 3.0 ecosystem, PlugChain focuses on the two vertical segments of cross-chain interoperability and decentralized oracles. PlugChain acts as a powerful cross-chain oracle that businesses and institutions can leverage to connect real-world data and price information to public and private blockchains. The solution proposed by PlugChain not only delivers data directly on-chain, providing better scalability and security, but also enhances the use cases of smart contracts. In this way, the price information on the PlugChain chain has high accuracy.
In a word, under the decentralized oracle network protocol, PlugChain provides unlimited verifiable computing power to the blockchain by connecting on-chain smart contracts with off-chain Internet data, enabling more commercial applications to integrate with real-world The perfect combination of use cases makes it possible for enterprise-level scenarios to be implemented.
On the other hand, in order to expand the downward threshold boundary of PlugChain technology, PlugChain is a heterogeneous decentralized oracle network development framework compatible with all blockchains, thus providing developers with a secure oracle infrastructure. In other words, developers can develop hybrid smart contracts or customized smart contracts in any desired blockchain network, thus providing a powerful engine for promoting the development of a multi-chain ecosystem.
At present, the PlugChain network has integrated more than 100 public chain services and is compatible with multiple blockchains, including mainstream public chains such as Ethereum, Polygon, Solana, Cardano, Polkadot, Cosmos, Heco, and Binance Smart Chain.
Therefore, PlugChain can very well provide the most secure and reliable cross-chain message transmission solution for the multi-chain ecosystem, while providing high scalability and better security, while reducing network delay time. PlugChain also allows for parallel processing, while features like threshold encryption, efficient processing ensure further security.
Under the steady and steady development of the technical team, ecological fruits have been born in the soil of technology, and the increasingly perfect mainnet function has made the development of PlugChain attract much attention.
In March this year, we completed the mainnet upgrade and realized the iterative update of v1.0.0, which enriched the browser’s function of supporting PVM module data query, making the mainnet function more complete. In addition, at the end of August, the main network was upgraded again, which greatly improved the overall performance of the public chain network. From technological innovation to technological breakthrough, our team also ushered in a breakthrough of 100 people in May this year, which is also an epoch-making significance for a public chain project.
From a macro point of view, the backward compatibility of technology makes it possible to efficiently interact between the protocol layer and the application layer, thereby promoting the prosperity and development of the ecology. From a microscopic point of view, it is an interactive hub that opens up the underlying infrastructure, enabling parallelization and transmission between different blockchains and various performances.
03. New upgrade, start a new journey
Thanks to the precipitation of technology and the development of ecology, the builders participating in the PlugChain ecology are becoming more and more formed: strategic cooperation with SoulMeta, 42 validator nodes participate in the staking ecology, active addresses exceed 48,000, and global community users exceed 250,000. As early as last November, PlugChain received a strategic investment of US$10 million from Alpha Headge.
Looking back, it has been one year since the mainnet launch of PlugChain. From project establishment to mainnet launch, PlugChain has completed the transformation from 0 to 1. The continuous breakthrough of technology, the iterative upgrade of the main network, and the continuous expansion of the ecology are PlugChain’s march from 1 to ∞.
The technology is backward compatible, making the performance of the public chain more and more competitive; the ecology grows upward, allowing the public chain to build its own ecological moat. This is the only way for every successful public chain to grow, and it is also the way for PlugChain to stand now.
At present, a new round of brand upgrade of PlugChain is in full swing. The brand LOGO has also ushered in a new visual effect and a simple and elegant design aesthetic. The ecological token PLUGCN has also officially changed its name to PC. In order to expand the layout of the global ecological strategy, PlugChain specially established PlugLabs, which will expand the cooperation territory from various fields such as branding, strategy, investment, incubation, etc., actively explore the cooperation of high-quality ecological projects, and promote the ecological development of the PlugChain public chain.
In the near future, PlugChain officials will also explore wider and higher-quality cooperation resources, reach in-depth cooperation with mainstream wallets, open PC/USDT transactions on TOP-level trading platforms, and reach strategic cooperation with high-quality projects, all of which will be included in PlugChain’s projects planning. It is expected that in the next six months, we will see more positive news and wider application of PlugChain.
All in all, in just one year, PlugChain has achieved an industry-leading position in the extremely competitive track of the public chain by virtue of its excellent technology and the accumulation of high-quality ecological endorsements. In the next cycle, PlugChain will also have great opportunities to continuously consolidate its market advantages by relying on its technical advantages and increasingly powerful public chain ecology. The future of the public chain is still long, and PlugChain still has a long way to go. In the days to come, I look forward to working with you to continue to work together to witness the prosperity of the development of the public chain.