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LBE – ushering in a new era of blockchain technology

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LBE – ushering in a new era of blockchain technology

September 03
21:33 2019

In 2009, Satoshi Nakamoto proposed the blockchain concept and created the bitcoin (BTC), which opened the world of blockchain, and the 2015 ethereum (ETH) was born, and the evolution of the blockchain ecosystem was pushed forward by the blockchain application of smart contracts. With the development of blockchain technology, governments and enterprises have taken note of the huge potential of the blockchain in the fields of value transfer and information transmission. Japan, Australia and other countries successively established the legal status of bitcoin (BTC); the enterprise giants such as Microsoft and JPMorgan established the EEA (enterprise ethereum alliance) to carry out technical research based on ethereum. The blockchain industry is maturing from the initial explosion, and the quality of the blockchain assets is poor.As a result, the demand for the conversion of blockchain assets will explode.

Micropayments (micropayments) is one of bitcoin’s biggest problems, with long periods of confirmation and high fees that have made it a “digital gold” of value hoarding and large settlement, leaving bitcoin out of the payment landscape of everyday consumption.On the other hand, tracking technology for the blockchain has come to fruition, with a number of companies signing contracts with the government to develop technologies to monitor bitcoin transactions, which has taken a huge toll on the anonymity of the bitcoin network.

The blockchain technology is used to solve the problem of small payment speed, low efficiency and high cost in the lightning network, and people are used to dividing the current blockchain into 1.0 and 2.0, many enterprises are dedicated to the migration from the traditional internet architecture to the blockchain architecture, and the block chain 1.0 represents bitcoin as the first design of the blockchain to be closer to an application than to the underlying blockchain system.Blockchain 2.0’s open mountain nose ethereum, which shows some of the features of the operating system, allows developers to write applications with smart contracts and provide other programming languages. However, there are some significant drawbacks to the blockchain, the blockchain that is used as a business application: deep coupling between system components, the inability of most components to customize, poor data processing, and inadequate data interfaces, etc., which lack the top-level design based on industry insights, and can not reach their potential in the business application scenarios across the industry, greatly limiting the commercial use of blockchains, so LBE has emerged.

As a public link, LBE currently includes global payments, live video feeds, POC mining, cross-linking, blockchain games, and so on, which makes it possible for users to greatly reduce the speed and difficulty of development in the blockchain network, which is the key to the rapid development of the digital currency, the LBE, which defines and implements the LBE kernel, which contains the most basic functionality required by a blockchain system, namely minimizing the blockchain system. Second, we use “technology” to enable LBE to have cross-linking capabilities that enable digital assets to be safe, free, and fast “two-way operations”. At the same time, the LBE has made a series of innovations in the blockchain technology and concept, including the design of the main chain, the parallel computing power, the blockchain bidirectional communication, the layered network, the PBFT and XO algorithm, the Sharding and the Casper consensus, and the side-chain competition mechanism, which has made the DAPP efficiency, cost and speed in the LBE network significantly improved.

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