The next step in blockchain adoption is to connect smart contracts with external systems and promote the technology’s real-world application.
In their current state, blockchains present a number of challenges for development. Data sources are limited, economic models have not been validated, prediction scenarios are limited by blockchain performance, and interactions between information are not effectively communicated.
Plug Chain is a high-performance public chain that uses cross-chain technology to solve these problems and significantly improve intercommunication between public chain contracts.
Various news outlets spoke with Joey Huang, founder of PlugLink Funds, or Mr. Joey as he prefers to be called, about the Plug Chain objectives, solutions it can provide, and how the future of cross-chain technology can help individuals and industry.
According to Joey, the goal of Plug Chain is to enable real-world industries to benefit from blockchain technology.
“Layer 0 blockchain is the most basic and fundamental blockchain. The whole point of Plug Chain is to ensure that it is the most basic chain possible.”
In terms of the project’s evolution, Joey claims to have created the world’s first cryptocurrency-accepting point of sale system. “When I founded VeLab, my goal was to ensure that cryptocurrency was used for more than just speculation.” We sold 300,000 units of the machine.”
Plug Chain’s main characteristics
According to Joey, in its current form, the concept that “It is a myth that blockchain will be the future of all industries. If traditional businesses do not have an Oracle network protocol, they will not be able to store all of their data on blockchain.”
The platform aims to address this issue by connecting the interactions between various data points.
“We hope that in the future, all of these factories will be able to use Plug Chain to record their data, and we will assist them in putting it into the blockchain so that consumers and users can easily access it.” “The founder contributes.
The combination of oracles and cross-chain technology is one of Plug Chain’s key features. Joey hopes that this service will make it easier for every country to facilitate digital payments in a seamless manner.
“All of this legal stable currency will be built on blockchain one day. Plug Chain hopes to be able to assist them.”
“Every digital currency is a chain, and we’ll connect them as a plug chain. Oracle network protocol is required to ensure that the value is transacted equally. We will become the VISA or Mastercard of the digital currency world as a result of this.”
The founder elaborates on the current use cases for cross-chain technology, “Once a cross-chain platform DEX can connect, any single transaction or exchange can be easily done with the cross-chain technology.” To put it simply, “Plug Chain allows your data to be connected to mine and mine to be connected to yours.”
When asked what distinguishes Plug Chain from other blockchains that provide cross-chain functionality, Joey approaches the blockchain ecosystem with humility.
“It is impossible to compare when there are over 100 blockchains on the market.” It’s difficult for me because I want all cryptocurrencies to succeed.”
However, when comparing Plug Chain and Polkadot (DOT), Joey points out that “Polkadot relies on recorded chains and parachains.” That’s all there is to it once the parachain is completed. For asset transfers across the chain, our platform employs Cosmos (ATOM).”
The company is working on a Chinese history metaverse game and hopes to have over 50 ecosystems built on top of their chain by the middle of the year.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.