Since the birth of Bitcoin, blockchain and cryptocurrencies have been flourishing vigorously. However, most current blockchain projects are still on the basic level of token issuance and exchange of virtual information – there are very few digital assets which have real value to be widely used to establish a practical business ecosystem. In other words, especially there lacks an effective symbiotic mechanism between the physical world and digital world. Future development of the blockchain ecosystem inevitably requires mutually beneficial situations of symbiosis between the physical and digital economy.
IoT (Internet of Things) will be a major connection of both the physical world and also the digital world. On one hand, IoT can establish an efficient coordination mechanism between users and objects in the physical world, thus promoting efficiency and bringing benefits to various industries, in addition to a new “Wisdom Revolution”. On the other hand, with a potential size of tens of billion possibilities and a high concurrency for transactions; IoT has the potential to create huge, high-value and steady streams of digital asset resources for blockchain.
Meanwhile, this connection need of both physical and digital worlds will promote the establishment of a value system of digital assets and network credit, in order to achieve multilateral prosperity of both digital and physical ecosystems. The combination of IoT and blockchain will create a new infrastructure of all things in general. SixDomainChain Platform is the world’s first decentralised public blockchain ecosystem for data exchange that integrates international standards of IoT Six-Domain Model and reference architecture standards for distributed blockchain (SDChain Platform), which would operate on its own native blockchain (SDChain).
The design of SDChain gives full consideration to IoT characteristics and requirements of business ecosystem construction. In specific fields like issuance of digital assets, management of users’ credits and identities, P2P communication, encryption algorithm, consensus algorithm, smart contracts, cross-chain smart contract model, market consensus incentives, decentralised DApp (Distributed Applications) and fast access to new businesses, SDChain optimises current blockchain infrastructure in depth.
By seamlessly implementing the underlying SDChain blockchain infrastructure and IoT Application ecosystem, the SDChain Platform will create a business ecosystem with benign, rapid and sustainable development, enabling SDChain Platform to have a coexistence of tokens, blockchain and industrial IoT. A reliable blockchain ecosystem based on IoT digital assets will be established, and an efficient way to realise the circulation and value transformation of reliable digital assets will be formed as well. In this of IoT and blockchain ecosystem.
Core Business of SDChain includes:
1） Regarding application requirements of a specific industry, and based on IoT Six-Domain Model reference architecture, SDChain will enable the establishment of business ecosystem and DApps thereon for agricultural IoT, industrial IoT, energy IoT and applicable verticals. It will also provide issuance of digital assets for different DApps, as well as services of credit identity registration and management, data storage, verification and inquiry on blockchain, smart contract setup, trigger and automatic account division for various IoT users and equipment subjects on SDChain. SDChain will ensure the consistency, authenticity and non-manipulation of the data and establish ACM (Asymmetric Credit Mechanism) between people and objects to guarantee the safety, efficiency and value of data assets interconnection.
2） SDA (Six Domain Assets) is the native digital asset token to be used on the SDChain Platform. SDA will be issued based on a predetermined quota. SDA is intended to be utilised solely on the SDChain Platform (when fully completed and deployed), as a unit of exchange for consumption of services and payment for transactions on the SDChain Platform, as well as the incentive which will encourage participants to establish consensus for digital assets on SDChain, thereby contributing and maintaining the ecosystem on the SDChain Platform.
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