ICO News Fesschain
INTRODUCING THE FUTURE OF ELECTRONIC SETTLEMENT SYSTEM
The first decentralized platform addressing the shortcomings of the existing electronic settlement system. FESS offers a quicker and safer way to transact in an electronic environment through application of cutting edge technology.
ABOUT US
A DECENTRALIZED PLATFORM AIMING TO REVOLUTIONIZE ELECTRONIC TRANSACTIONS AND SETTLEMENTS
We have created a decentralized platform that will solve all your electronic settlement woes. Existing systems on operational blockchains are crippled with huge network load, and hence they are vulnerable to security threats apart from being obnoxiously slow.
Our uniquely designed blockchain makes best use of Artificial Intelligence and other such advanced authentication methods. Thereby, it dares to promote secure and safe transactions of any volume all across the globe.
WHY FESS?
FESS is Mainstream Technology where Speed combines with Security not only theoretically but in practical means. Most of the projects running at present either claim to deliver speed or safety. None of them has sincerely found a solution for scalability where people can easily transact with supersonic speed or can run a DApp with the full potential. FESS dares to not only Work on this issue but also solve it.
The Present Technology
Most of them who are claiming speed are using sharding with Proof of Stake (PoS) to deliver a lightning fast transaction network. The PoS mechanism gives digital coin owners the ability to hog the entire network. If they purchase large amounts of coins at once and hold onto the majority of the coins in existence, they increase their likelihood of dominating the network, forging most of the future blocks, and earning the coins made from these blocks. Such happenings create an oligarchy like a situation whereby it is in the best interest of these coin holders to make changes that benefit them the most. And since sharding in a whole can’t be exercised on Proof of Work (PoW) so talking about creating shards is not a possibility.
What’s New with FESS?
FESS is combining Proof of Proof (PoP) methodology with AI and basic features of sharding into a new blockchain. FESS chain verifies every block with Bitcoin blockchain mined blocks, which makes FESS practically unhackable. Even if someone hacks into our blockchain, the very next block verifies back and returns where the original verified block was mined.
FESS Chain and Sharding
Let’s understand the concept of sharding first; it is a data partitioning into several small databases called Shards. In blockchain it states not every node needs to save all the problems, it can be saved in parts, whereas in FESS we believe
- Every node doesn’t need to save all the meta data.
When a Person X pays PP amount to Person Y, then no one cares as the transaction is complete and settles. But in a real sense, it is a point which holds value because of the transaction existence matters. So, the need for a Proof of Transaction (PoT) is simply inevitable.
- All the processing shouldn’t be done by each node every time.
Whenever the data is processed depending upon its size and difficulty the AI dynamic code used in FESS breaks it into the parts and simultaneously generates multiple numbers of sub-nodes under a single node to process fragmented data (to be processed).
When the whole processing is complete, only proof of the existence of the transaction gets recorded on our blockchain and verifies itself from the bitcoin blockchain. Since we dynamically break the core’s power to make a hybrid sub-node to process the whole transaction, we can simultaneously process original data into fragments
Sharding
Generally, blockchains have a definite number of shards where data is recorded and/or Stored.
Shards are theoretically distributed data saved at different nodes. With the passing time, it only gets more cumbersome and will end up having slow transaction speed, resulting in scalability issues (that was the central idea initially).
The Speed which is recorded in terms of Transaction per Second (TPS) is a severe problem with most of the prominent blockchains. The TPS gradually falls.
FESS
Do not have any ‘fixed number of slots’ to be saved. FESS has only one main chain where only relevant data is recorded by verifying itself from the bitcoin blockchain and/or the timestamp
The main chain of FESS only saves Proof of Transaction (PoT), and since it distributes the core’s power into fragments thus it directly proportionates the size and difficulty of the data to be processed
The algorithm used in FESS solves this problem as it merely works in the Opposite Manner. With ever increasing data and nodes to be implemented the TPS of FESS Blockchain will go upwards instead of falling down
ECOSYSTEMS
TRUST AND TRANSPARENCY
The complete decentralized architecture on FESS instills the much needed trust and transparency within all transactional networks.
SECURITY
A double layered authentication method of transactions, based on blockchain technology makes it virtually impossible to hack into our system.
SPEED
Our unique parallel processing algorithm ensures 450-900 transactions per second(TPS), way ahead of existing solutions.
DIVERSITY
Fesschain platform through its token powers individuals and business for their various needs.
ICO Details
General
Dates: TBA
Whitelist/KYC: KYC
Country: India
Token info
Ticker: FESS
Platform: Ethereum
Token Type: ERC20
Available for sale: 600,000,000 FESS (6%)
Financial
Accepting: ETH
ROADMAP
May 2019: Pre-Private Sale.
June 2019: Prototype Launch.
August 2019: In-house DApps Prototype Launch. Public Sale.
September 2019: In-house Supply. Chain Implementations. Content Sharing. Application Launch.
November 2019: In-house DApps Launch..
January 2020: Launching of Internal exchange and Testnet.
March 2020: Testnet bounty with public.
May 2020: Main Net Launch.
OUR TEAM
Durga Prasad Tripathi: Founder, Global CEO & Head of Blockchain Development
Praveen Kumar Sahani: Co-Founder, COO
Mehtab Mehdi: CTO & AI expert
Prashant K. Maurya: Developer.
Shoaib Malik: Head of Creative Operations
Abhishek Pandey: Chief of Marketing Operations
Alok Mishra: PR and Marketing Head
Mohit Gupta: Head-Design & Graphics
Pulkit Kumar: Resource Manager
Priyank Gupta: Marketing Strategist
Rahul Deb: Social Media Manager
For more information, follow the link below:
Facebook: https://www.facebook.com/fesschain
Twitter: https://twitter.com/fesschain
Telegram: https://t.me/fesschain
Medium: https://medium.com/fesschain
Thank you, my regards
Author: Thelagendjz4
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2577207
ETH Address: 0x45365defCa88A8c888e9A67F57e0c315f2B1e5F2
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