During this event, DataQin was the winner of Best Blockchain Industry Application Award 2018. DataQin takes this award with the help of “SimpleChain”, its exclusive public blockchain project. Mainly, the Award of 2018 Best Blockchain Industry Application focused to explore the various combinations of different industries. Those are like a blockchain technology, collect more blockchain developers, and encourage the ongoing continual innovation of blockchain apps.
The China Blockchain Application Center aka CBAC initiates this award. Its chosen from expert committee arrange from CBAC. Moreover, the expert committee includes government authorities, blockchain app users, along with academic researchers to attain a fair objective judgment. Both the authority and impartiality regarding the awards are identified within the industry.
Despite the ongoing crypto market and huge price drop in 2018, yet blockchain and cryptocurrency remain an essential aspect of the Davos Forum. Globalization 4.0: Shaping a Global Architecture within the Age of Fourth Industrial Revolution was the aim of the event recognized as “World Economic Forum Annual Meeting 2019” that was held in Davos.
On the other hand, the head at blockchain of World Economic Forum, Sheila Warren hopes blockchain tech to be the foundation of this so-called fourth industrial revolution. She also adds:
We see the blockchain as a fundamental technology. When scalability is achieved, decentralization can increase equal opportunities and address personal autonomy in terms of data in a more humane way.
Now, let’s discuss the winning project “SimpleChain”. It is basically a public chain which holds a design goal to establish a simple, easy-to-use distributive chain net. Which can truly encourage the formation of running distributed digital economy.
Moreover, the most notable facet of SimpleChain is its double-layer structure. Also, SimpleChain’s underlying consensus of the main chain is set as the Proof of Work using an innovative algorithm. The core aim of this main chain is basically to protect the unification of distributed ledger information.
The flexibility follows its second layer which is on top of the Main Chain- Sub Chain. This is possibly customizable regarding any particular consensus algorithm for apps. As a Sub Chain its transaction data structure seems flexible in various cases to improve the compatibility of the SimpleChain project. According to the core member at SimpleChain Foundation, Leo Yu:
We hope that simplifying the procedure will bring different services and experiences for the blockchain ecology.
Wang Wei, who is the advisor at Chinese blockchain legation as well as the chief advisor at CBAC aka China. Wei holds major broad market prospects within the blockchain application and a huge number of young innovative talents.
It seems that entire blockchain now has an amazing potential that each one of them can kick start a new economic revolution that too on a massive scale. Lastly, SimpleChain intends itself to devote into establishing a new ecosystem within this digital era via encouraging its technology.