Core Technology
Distributed Systems
ParallelChain Mainnet
A business-native public blockchain platform powering web3 applications that revolutionise finance and various industries. Unlike most public blockchains which are DeFi-native, ParallelChain Mainnet is designed to support the unique characteristics and challenges faced by enterprises in their Web3 journey.
Parallelchain Enterprise
An enterprise-grade private blockchain platform designed to align with web2 paradigms, it brings the benefits of blockchain technology into the web2 environments. Some key features and characteristics of Parallelchain Enterprise include:
Arachne
Arachne is ParallelChain Mainnet's proof-of-stake algorithm built upon Hotstuff-rs, a Rust Programming Language library for Byzantine Fault Tolerant state machine replication, intended for production systems. It is designed to ensure the decentralised and secure operation of the ParallelChain network.
Automated Smart Contract Validation
A Smart Contract security tool that utilises cutting-edge formal methods and Natural Language Processing (NLP) to assess the security and compliance properties of applications running in ParallelChain's open-source ecosystem and ensure the smart contracts function as intended. It aims to provide users and regulated enterprises with confidence in their interactions with the protocol.
Third-Party Audit Reports
The ParallelChain Mainnet protocol has been independently audited by Hacken, a renowned cybersecurity firm specialising in blockchain security and auditing. Currently available report(s): [Hotstuff-rs Consensus. Score: 8.3/10]
Parallel Processing
With a robust underlying infrastructure that supports concurrent operations, Parallelchain Enterprise applies the parallel processing technology to aspects including transaction validation and smart contract execution.
Unlimited, High Scalability
With ~130,000 TPS and <0.003s latency, Parallelchain Enterprise handles high transaction volumes and powers scalable solutions for businesses of all sizes.
Proof of Immutability
Proof-of-Immutability (PoIM), a patented blockchain technology that enables participants to transact and share data in a secure and private manner, protecting enterprise trade secrets while ensuring trust and verifiability in the decentralised model.
Privacy Compliance
Parallelchain Enterprise utilises the 'Ability-to-Forget', a patented method for blockchain data privacy, to ensure that the applications align with global regulations, such as the EU GDPR, and industry standards relevant to the enterprise's operations.
Seamless Integration and Migration
Parallelchain Enterprise can integrate seamlessly with existing systems and workflows, acheiving smooth data exchange and interoperability with legacy systems. It also allows seamless migration from Hyperledger which ensures continued functionality and integrity of the applications.
Inter-ParallelChain Protocol (IPP)
An inter-chain protocol that enables seamless yet secure communication and interoperability between ParallelChain Mainnet and Parallelchain Enterprise. IPP overcomes the limitations of the isolated CeFi and DeFi systems by creating a web3 ecosystem that facilitates seamless interaction and exchange of value between public and private blockchains, as well as shared utilities between the DeFi and CeFi applications and smart contracts.
Asymmetric Multi-processing
The system architecture of IPP utilises asymmetric multi-processing technology to allow for efficient utilisation of resources in the distribution and processing of workloads among varying ParallelChain networks. This requires careful system design and synchronization mechanisms to ensure consistency and integrity across the distributed systems within the ParallelChain ecosystem.
Artificial Intelligence
Anti-Spoofing Biometric Recognition
As biometric recognition technology becomes more common, spoofing techniques will become more sophisicated. To help enterprises navigate this evolving landscape of digital security, ParallelChain Lab provides an in-house advanced anti-spoofing face + voice recognition system that integrates signal processing and machine learning algorithms to differentiate between genuine and fake inputs in miliseconds -- the blink of an eye.
Traditional liveness detection methods rely on active measures that require the user to blink or make certain movements: a time-consuming, bad user experience. Our system adopts passive liveness detection which analyses subtle physiological indicators to verify the presence of a live person without requiring explicit actions from the user.
Natural Language Processing
Natural Language Processing (NLP) is a field of Artificial Intelligence that makes human language intelligible to machines. NLP serves two major applications in ParallelChain:
1. Enhance the functionalities of ParallelChain enteprise solutions by adding NLP capabilities, such as text classification, chatbot and information extraction.
2. Detect coding and logic vulnerabilities in smart contracts to strengthen the security posture of the ParallelChain ecosystem.
Formal Methods
Smart contract techology is being utilised for an increasing range of use cases, both DeFi and CeFi. Every use case brings its own set of requirements, logic, and complexities, making smart contracts more intricate. In addition, smart contracts often need to interact with other contracts or external systems, which introduces more complexity in ensuring intended and consistent behaviour across the multiple systems or contracts.
ParallelChain Lab is developing a smart contract application that utilises formal verification techniques to mathematically prove the correctness of the contracts on ParallelChain, in order to identify and mitigate potential vulnerabilities, bugs, or logic loopholes that already exist or may arise in the future. By subjecting the contract to scientific analysis and verification, the application aims to provide users and enterprises with confidence in the ParallelChain's security, and importantly, to mitigate the risk of security breaches or financial losses associated with flawed smart contracts.
