Creata Chain’s COO, Jeremy Jung, shares insights on the revolutionary features of Creata Chain’s Launch Platform
SINGAPORE, September 11, 2023/EINPresswire.com/ — The blockchain revolution is taking a giant leap forward with the unveiling of the Creata Chain Testnet Launch Platform. This cutting-edge platform merges innovation, security, and transparency, ushering in a new era of decentralized control over data and network configurations. Jeremy Jung, the visionary COO of Creata Chain, elaborated on the platform’s groundbreaking features and its potential to reshape the landscape of blockchain technology.
“Welcome to the frontline of the blockchain revolution with the Creata Chain Launch Platform, where innovation, security, and transparency converge to create an unmatched experience,” Jung stated with enthusiasm. “This groundbreaking platform empowers users with the freedom of decentralization and control over their data, setting the stage for a transformative journey.”
At the core of Creata Chain’s vision lies the concept of crafting resources and integrating blockchain nodes to build an ecosystem that breaks free from traditional boundaries. Users are granted the capability to create unique configurations known as “networks,” each identified by a specific name, representing its unique identity. With Creata Chain, users can create up to 5 networks, custom-tailored to their distinct requirements and use cases.
But what sets Creata Chain apart is its seamless access to blockchain networks and platforms, made possible through entities known as Network Providers. These providers serve as gateways to the blockchain ecosystem, enabling users to create, deploy, and interact with decentralized applications (dApps) and smart contracts.
Jung highlighted the revolutionary Augusteum Core Consensus Algorithm, a hybrid of Delegated-Proof-of-Stake (DPoS) and Practical Byzantine Fault Tolerance (PBFT). This algorithm empowers the Creata Chain ecosystem by combining the strengths of both consensus models, fostering security and efficiency within the network.
He emphasized that a Non-CVM (Creata Chain Virtual Machine) blockchain refers to a network that does not utilize the CVM for executing smart contracts, showcasing the platform’s versatility in accommodating various needs.
The responsibility of maintaining network security and consensus falls upon the shoulders of nodes. These nodes play a vital role in validating transactions, verifying data, and establishing communication with other nodes to achieve unanimous agreement on the state of the Blockchain.
Jung emphasized the critical aspect of the Chain ID, a unique identifier for each network, and the importance of safeguarding the associated password. “By safeguarding this password, users can maintain the integrity and security of their blockchain network and related data,” he remarked.
The platform also allows users to pre-fund their accounts, ensuring an initial balance for seamless participation in transactions and smart contract interactions. Jung clarified that these pre-funded tokens cannot be exchanged with CTA in the Creata Chain Mainnet.
As users proceed in the network formation process, they have the option to designate their accounts as pre-funded, enabling immediate engagement within the network. The mnemonic phrases, designed for easier memorization, facilitate account verification and recovery of lost cryptocurrency wallet accounts.
Creata Chain also places emphasis on the Chain Supply, representing the total amount of CTA coins in a network. Participants engaging in the consensus algorithm commit and lock up an Initial Stake amount, enhancing the stability of the network.
Jung mentioned the significance of the account verification process, which involves arranging mnemonic phrases in a predefined order, ensuring secure access to the network.
Before concluding his remarks, Jung highlighted the transparent overview that users receive after creating a network. This comprehensive display includes crucial details like network name, chain ID, node size, status, creation date, and more, enabling effective network management and monitoring.
In conclusion, the Creata Chain Testnet Launch Platform emerges as a game-changer in the world of blockchain technology. With its focus on user empowerment, decentralization, and control, this platform stands poised to redefine the rules of the digital realm, aligning with the values and aspirations of its users. As blockchain continues to evolve, Creata Chain leads the charge towards a more secure, transparent, and innovative future.
For more information, visit https://testnet.chain.launch.creatachain.com.