With the rapid advancement of blockchain technology, competition based on infrastructure is increasing. Speed, reliability, decentralization and low energy costs are now sought in p2p transfers.
Enrich blockchain aims to do this using the POS(Proof of Stake) consensus. The PoAl consensus is a smart contract consensus based on staking of holder.
Enrich blockchain offers zero fees transaction, real time transaction validation and power of blockchain which makes it superior than any of existing blockchain.
FAQ
How is your blockchain able to achieve 100000 TPS (transactions per second)?
Our blockchain is able to achieve 100000 TPS through a combination of advanced consensus algorithms and state-of-the-art hardware. We use a hybrid consensus algorithm that combines proof-of-stake (PoS) and practical Byzantine fault tolerance (PBFT) to achieve fast and secure transaction finality. Additionally, we use high-performance servers and network infrastructure to ensure that our blockchain can handle the high volume of transactions.
What does EVM compatibility mean, and why is it important?
EVM compatibility means that our blockchain is able to run applications that are built using the Ethereum Virtual Machine (EVM). This is important because there are already many decentralized applications (dApps) and smart contracts that have been built on the Ethereum blockchain using the EVM, and being EVM compatible means that our blockchain can run these applications without any modifications. This makes it easier for developers to build on our blockchain and helps to foster a vibrant ecosystem of dApps and smart contracts.
How do you keep gas fees low, and what is the benefit of low gas fees for users?
We keep gas fees low by optimizing the use of resources on our blockchain and implementing dynamic gas pricing that adjusts to network demand. By optimizing resource usage, we are able to keep the cost of running transactions low. Low gas fees benefit users by making it more affordable to use our blockchain, which makes it more accessible to a wider range of people. This can help to increase adoption and usage of our blockchain, which can in turn increase the value of the network as a whole.
What kind of applications and use cases do you envision for your blockchain?
We envision a wide range of applications and use cases for our blockchain, including decentralized finance (DeFi), gaming, supply chain management, identity management, and more. With our high TPS and low gas fees, we believe that our blockchain will be well-suited for applications that require high throughput and low transaction costs. Additionally, our EVM compatibility makes it easy for developers to build on our blockchain, which can help to foster a vibrant ecosystem of dApps and smart contracts.
How does your blockchain ensure security and prevent attacks?
We take security very seriously and have implemented a number of measures to ensure the safety of our blockchain. Our hybrid consensus algorithm combines PoS and PBFT to achieve fast and secure transaction finality, and we use advanced encryption and hashing algorithms to protect sensitive data. Additionally, we use multi-signature wallets to store our users’ funds, which requires multiple parties to sign off on transactions before they can be executed. We also have a bug bounty program in place to encourage responsible disclosure of any vulnerabilities. Overall, our goal is to provide a secure and reliable blockchain that users can trust.
