Understand the main characteristics of the Smilo blockchain in 5 minutes
What is the Smilo Platform?
Smilo is a unique full-featured hybrid Blockchain platform that supports hybrid transactions, hybrid smart contracts and hybrid decentralized applications — with ‘hybrid’ referring to both public and private. Smilo uses their unique Blockchain technology to facilitate an alternative protocol for decentralized applications, including GDPR compliant private transactions, reasonable scaling and accurate cost predictions.
Creating trust and privacy to its users
With the new round of technological revolution and industrial transformation sweeping the world, the development of R&D and application promotion of blockchain technology continues to be strong and has received increasing attention and recognition from the financial and IT communities. The blockchain is a distributed ledger technology that relies on data encryption, timestamps, and distributed consensus algorithms to implement advanced functions such as distributed chained storage, smart contracts, and privacy protection. It is considered to be used to solve the problem of new generation Internet value exchange and Credit problems with network transmission.
With the rapid development of blockchain technology, the trust mechanism provided by the blockchain has extended from the financial field to the physical fields, such as:
- Electronic deposit
- Copyright management
- Transaction management
- Product trace-ability
- Digital asset trading
- Internet of Things
- Smart manufacturing
- Supply chain management
- Virtual Reality
Although there is no large-scale blockchain commercial application scenario at present, the large-scale application of trusted value and distributed collaboration through blockchain is trending
Smilo foundation has been continuously researching the underlying technology of the blockchain, launching the Smilo Hybrid blockchain platform in sectors such as: Finance, Medical care, energy and trade have realized “how blockchain is powerful”, giving full attention to the blockchain as the underlying support for the next-generation value Internet, realizing the technical service business, and promoting the technology.
The Smilo Blockchain platform provides enterprise-level blockchain network solutions for enterprises, government agencies and industry alliances.
Smilo Blockchain core architecture
The feature architecture diagram of the Smilo Blockchain platform is detailed in the following cloud diagram design
The core architecture of the platform consists of the P2P network, the consensus module, the ledger module and the smart contract engine. The platform provides a series of technical features, including:
- Multi-level encryption mechanisms
- Privacy protection mechanism
- Blockchain governance mechanism
- Message subscription mechanism
- Data management system
- Multi-language Smart Contract Execution Environment
- Smilo Blackbox
Smilo blockchain is designed to be a lightweight blockchain that takes advantage of the R&D and battle-tested Ethereum GETH 1.9.x PoW Blockchain. It is updated regularly such that it is in sync with the future GETH releases.
Some architectural changes are:
New consensus algorithm called Sport BFT
- Modified permission-ed p2p connections to/from specific pre-set nodes (optional)
- The block generation logic has been modified to have two states: `public state root` and `private state root`. Private transactions do not allow the transfer of tokens, transfer of tokens privately should be done via ZK Snarks public smart contracts.
- Block validation logic changed to handle `private transactions`
- Dual token system introduced. XSM (Smilo) and XSP (SmiloPay)
- Users pay for transactions with XSP and Gas deposit. The gas deposit is returned if all goes well
Challenges and opportunities coexist
Smilo Blockchain has a multi-level encryption mechanism, an efficient consensus mechanism, Turing’s complete high-performance smart contract execution engine, data visualization and control. It is a comprehensive and efficient performance-based technology platform. In the application scenario for enterprise needs, Smilo Blockchain can provide high-quality underlying blockchain technology, that is convenient and reliable. A completed and integrated solution for digital asset clearing, data trusted deposit and de-inter-mediation of transactions.
Since the birth of the blockchain, it has been questioned and misunderstood its technology and application. At present, the thresholds for developers and users are too high, and the difficulties of commercialization for projects still exist.
In addition to continuously developing its own technology, Smilo Blockchain has been working to accelerate the application and popularization of blockchain via its partners. We always believe that the development of blockchain technology and the ecological construction of blockchain are complementary.
In this era of challenges and opportunities Smilo Foundation has been working hard
Your support and help allows this platform to evolve and develop.Together we are developing a blockchain ecosystem, making the development of blockchain technology useful for enterprise needs. Thank you very much the official list of go-ethereum Authors, without your individual contributions this would never be possible.
Links and resources
9. Testnet links (Block explorer, Faucet, Wallet, Remix)
13. Smilo Secure Wallet available at Google Play
15. launchpad.net/~smilo — Ubuntu packages for go-smilo blockchain
Be part of the Smilo hybrid blockchain movement!
Smilo’s development is not motivated by profit for either its developers or early adopters. In order to finance the project and guarantee its future, we invite everyone who sees potential to consider donating/investing to the project, and we hope that the vibrant cryptocurrency community will help Smilo to achieve its goal of making permissioned ledgers obsolete.
#NO-ICO #ICO-FREE #NOT-AN-ICO