BYB chain will provide the rapidest and the most transparent decentralized platforms for entertainment industry in the world. The key features of the chain are the flexibility, interchain, immediate payment, smart contract, big data, AI, we will make all users become beneficiaries.
BYB chain ready to bring the entertainment industry into the blockchain ecosystem, in order to be fast, intelligent and diversified industrial operation mechanism, we will implement the combination of big data, blockchain and artificial intelligence devices to change the industrial ecosystem.
The Dapp W platform will initially serve as a decentralized app of the BYB chain in Asia and will provide initial BYB currency usage, interaction between entertainment industry and product users.
Finally, we hope that the release of BYB coin can be joined by the public, making it a historic milestone for the entertainment industry in the world.
The following is the technical characteristics of BYB chain：
- dex & ex(Decentralized and centralized currency exchange, goods trading)
- Quick payment channel
- Distributed digital asset storage and payment
- Blockchain encryption address anonymous transactions
- Smart contracts to pay artist their salary and related fees.
- dapps im wallet（chat, virtual currency trading, live broadcast, buying share
- Digital currency with hardware internet
What is SMART CONTRACT
In short, a smart contract is a digital version of a traditional contract. They are computer programs that run on the blockchain database and can execute on their own when the conditions written in their source code are met. Once a smart contract is written, it can be trusted by the user. The contract terms can not be changed. Therefore, the contract can not be changed.
Smart contracts that use the "Solidity" language to encode have many advantages over traditional contracts: Do not rely on third party execution contracts. Eliminating middlemen greatly reduces the total amount spent on the contract.
The elimination of third-party vendors also means that the entire process of contract verification and execution becomes fast with direct transactions between users. Due to the terms of the contract can not be changed, the user is less likely to be cheated. Smart contracts are not subject to any kind of human intervention. Smart contracts are not prone to power outages, node failures and other issues. There is no risk of misplacement or loss when the contract is kept on a distributed ledger. This means that every device connected to the network has a copy of the contract, and the data is always stored on the network.
Benefit of Smart Contract
- Cost reduction
W & BYB SMART CONTRACT
Users must meet the "payment conditions" Extend the "payment conditions" function, to achieve the terms of the contract
Example：When B want to use BYB to pay to C
Terms： B must display comments and reach results only can receive the payments of BYB
BYB Blockchain Technical Introduction
For the long-term benefits of data-driven providers of web-based platforms in the BYB chain, long-term benefits to central platform operators by providing new data validation algorithms and decentralized smart contractual access, all other AI device users can Gain money by selling your own behavioral data.
The whole chain structure will be BYB-ELEVE, BYB-SUE two blockchain-based, and the two can communicate with the chain have a trusted data layer, the IOT contract layer and the BYB currency layer, the application layer structure Trusted data storage and initially will be the W platform as a decentralized platform to start the application.
BYB-Eleve is based on the POW (proof of work) consensus mechanism. It includes the following features:
- Speedy & simplicity
- An attacker must invest more than half the amount of computing power (51% of attacks) to ensure the results of the tampering. This makes the cost of a successful attack very costly and difficult to achieve, and therefore it is highly secure.
- To a certain degree of fairness, the more you put into your calculations, the more you get rewards from the block.
BYB-Eleve initial setting is：
- block award: every 8 million blocks gradually reduced until the end of three billion hair
- seconds to confirm the transaction: an average of 4 seconds
- Trading load: 50 / s
The purpose of BYB-SUE is to solve the problem of insufficient trading volume of BYB-Eleve. At the same time, BYB also have higher capacity and transaction confirmation speed. Hence, the standardized calculation of BYB-SUE formula is the authorization of Byzantine style.
The authorization of Byzantine style will be based on microcalculation, assets and authorization as the transaction verification. You will need to be authorized by the committee member if to become a node. The committee member possess the majority of the assets, and these people will vote a trustworthy people. The trustworthy people will need to reduce the speed of the answer of their calculation block based on the number of votes.
BYB-Eleve’s problem can be solved by confirming the number of transactions up to 2000. 1500 transactions per second target.
The role of the node in BYB-SUE are as follow:
- A Node: To authorize certified transaction between chains communications.
- B Node: To sync accounts and broadcast transactions.
- T Port: A platform to communicate with other chains.
Where and How to Use BYB
The business development project, interconnected entertainment which is closely related to W Group will be gathered in “W App” platform. Transaction can be made in BYB and invest directly to the project.