SeeleN New White Paper Technical Analysis New Public Chain Helps Industry Development
To accommodate the industry structure and guide the development path, SeeleN released a new white paper and the new Seele public chain was unveiled.
Seele public chain aims to create a new global blockchain platform and ecosystem with the goal of industrial assets transactions and value transfer. Based on supernodes, the BFT-based POS consensus mechanism is used to provide network stability and efficiency. The issuance of diversified digital tokens and decentralized transactions are smart contracts built in the system and an important support for the system to support DeFi (decentralized finance). Cross-chain calls, and Oracle machines provide chain-to-chain and chain-to-off chain extensions respectively.
The Seele public chain relies on supernodes to maintain the operation of the network, and only a staked SNP can obtain a supernode election. Supernodes have the ability to generate blocks and obtain mining revenue. Ordinary coin holders can delegate their SNPs to nodes and obtain the revenue distribution rights from them. The economic model of staking is the economic foundation for the safe operation of the Seele public chain. Staking is also used for online governance, and the operation of the public chain system is adjusted through the voting system.
In terms of overall design, the Seele public chain is composed of a main chain, multiple application-side chains, and an off-chain decentralized oracle network instead of a single-chain structure. The main chain carries the issuance of core assets and circulation of value; the side chain undertakes a variety of different applications and is expandable in theory. The Seele public chain will also issue a smart contract application chain for application and development, and Enterprises with special needs can also issue side chains by themselves and anchor the assets of the main chain. The side chain and the main chain as well as the side chain and side chain communicate through IBC (Inter-Blockchain Communication Protocol). The oracle system is used to connect the main chain and the real world off the chain.
The Seele public chain will provide more efficient, universal, open and scalable privacy protection and data sharing technology. By raising the level of user control in traditional data flow to the transaction level, a new sharing mode of “ No Movement” and “Zero Copy” of original data is realized, and the triangular balance problem of security access, privacy protection and circulation convenience hardly solvable by traditional methods, is resolved, ensuring the compliance of the purpose and the traceability of the process in data sharing, and fully realizing security sharing of data and business collaboration.
