The value of the cryptocurrency market cap soared from $965 billion to as high as $2.6 trillion in 2021. Numerous cryptocurrencies, like Bitcoin and Ethereum, are growing in appeal as more people show interest in cryptocurrencies. It is raking in much money as a result of institutional adoption and increasing blockchain use cases.
The global cryptocurrency market was valued at USD 1.3 billion in 2021, according to a recent market research firm BlueWeave Consulting analysis. By the end of 2028, the market is anticipated to generate sales of over USD 2.8 billion at a CAGR of 12.2 percent.
Currently, volatility has aroused the curiosity of investors, causing them to be extremely cautious and fearful. In addition, the bear market that officially began in November 2021, was fueled by the U.S. Federal Reserve’s intention to raise interest rates; then later; the ongoing war between Russia and Ukraine; the worrisome failures of “algorithmic stablecoins” like Terra Luna’s USD; tightening regulatory requirements for the crypto market; liquidity issues at several cryptocurrency exchanges; and ultimately, the fear of a recession.
Meanwhile, small and mid-cap tokens with a focused niche are booming. This is because of blockchain technology’s increasing adoption. Many investors are looking to invest in smaller blockchain companies to take advantage of future growth opportunities.
One token that could offer great potential for savvy investors is the PossChain token today and in the next bull run (relatively, for the long haul).
Let’s explore the Posschain network and what the future holds for investors.
1. Why is Posschain here to stay? – Technological Breakthrough
In simple words, Posschain integrates the most significant elements of extant blockchains after consistent and thorough research. Posschain simplifies blockchain use and development by bringing a more innovative, faster approach to improving interoperability, scalability, and sustainability, which no blockchain has achieved.
Core Advantages over other Blockchains
Public blockchains have scalability issues (e.g., Bitcoin and Ethereum). Ethereum can only handle 30 transactions per second, causing congestion. Eth’s Layer 2 scaling solution is crowded, and transaction fees are skyrocketing, owing primarily to blockchain games.
However, Posschain can linearly increase current blockchain’s throughput speed through sharding, pipelining, and multilayer technology into one cross-shard and cross-chain communication protocol. The protocol can take many transactions from a large ecosystem and split them into more miniature ecosystems. These smaller ecosystems can then process the transactions in parallel and simultaneously communicate live updates to the different ecosystems. These ecosystems are directly correlated to the size of Posschain’s community. So, the ecosystems will grow as the community grows, resulting in faster volumes.
Most popular blockchains, including Polkadot, Alephzero, Solana, and Algorand, are questionably centralized because they all support 100 to 200 validator nodes on the network, compromising decentralization. Even with the Algorand blockchain, validators must be vetted by a centralized body, defeating decentralization.
APBRT Consensus Algorithm
The popular pBFT used by protocols such as Zilliqa, Hyperledger, and Tendermint doesn’t scale well due to its communication overhead (at every step). As network nodes multiply, response time increases. pBFT also inevitably incurs high energy consumption and suffers low efficiency and poor scalability.
However, Posschain utilizes APBFT (Accelerated Practical Byzantine Fault Tolerance) in its consensus mechanism to help address the scalability issue of PBFT. In addition, Posschain uses an artificial intelligence empowered consensus algorithm model, which helps the network reach consensus effectively and reduces the overall byzantine error of the network. Nothing beats automation. POSSCHAIN’s AI model coordinates nodes based on a hierarchy using a trust rating system. The higher the node reaches in the order, the higher the degree of trust.
Current blockchain technology suffers from confirmation latency (the time between transaction issuance and network confirmation). Posschain solves this problem by creating a decentralized neighbor selection protocol that constantly tries to develop optimal peer connections to reduce confirmation latency-They achieve this by continually analyzing and learning how nodes interact with their neighbors.
Most blockchains are susceptible to 52% attacks like (Bitcoin and Eth), Nakamoto co-efficient, smart contract attacks, mining pools, e.t.c. Posschain ecosystem guarantees security thanks to secure multi-party computation, committee reconfiguration, distributed random generation, attribute-based encryption, and zero-knowledge proof that we have implemented into our solution, which allows you to transact securely and privately in our ecosystem.
No existing blockchain provides decentralization, security, and scalability simultaneously. The ability to run multiple shards/fragments transactions that provide a secure scaling solution is called Heterogeneous sharding, which Psschain utilizes to solve the high latency of cross-chain transactions.
Posschain bridges allow resources, data, and information to be shared between multiple blockchains in different ecosystems, a limitation currently present in blockchain technology. This cross-chain communication is called interoperability.
2. Posschain Token Utility
The POSS token, exclusive to the Posschain network, enables users to conduct blockchain transactions and pay for all network fees. The platform enables token usage for transactions, smart contracts, governance, staking, and validator awards.
3. Posschain tokenomics
Total supply: 50,000,000
POSS Native crypto symbol: POSS
4. Where will Posschain be in 5-10 years?
The Posschain team shares a passion for blockchain technology. It is open to collaborating with other blockchain projects. We will hold webinars and conferences larger developer community and share our know-how for these other projects, creating a how. By integrating and collaborating with different platforms and tokens, project teams can benefit from supporting the broader community of followers that Posschain plans to build.
With the list of powerful iterations and upgrades planned below, we intend to power globally used protocols across all chains: Defi protocols, Dapps, Game-Fi’s & Metaverses, Dexes, and major protocols need scalability and security to grow.
|Plans for 2023||Plans for 2024|
|● Public test-net launch
● Consensus & sharding optimizations
● POSS universal explorer
● Cross-chain communication protocol
● Staking launch
● Posschain main-net launch
● Development toolkit
● Posschain Hackathon 2023
● Posschain VM Beta release
● Smart contracts
● Voting system
● Storage sharing protocol
● Fast state sync and re-sharding
● Cryptography engine
● Consensus engine
● On-chain governance
● IPFS integration
● Web3.js integration
● Randomizer engine
|● Universal blockchain access API
● Off-chain data access (Posschain Oracles)
● Posschain global bridge
● Posschain Name Service
● DeFI Tools for Developers
● Posschain Hackathon 2024
● Tokenizer Engine
5. Posschain vs Others
|Tokenomics / Utility||Yes||Yes||Yes|
Outreach Consultant POSSCHAIN
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Jaipur journalist was involved in the writing and production of this article.