BigBang Core Creates New IoT Business Ecosystem

  China, Xianggang, Guiqing - 01/05/2020 (PRESS RELEASE JET)

Introduction of BigBang Core

BigBang is a block system built on the P2P network. Similar to the current popular P2P digital currency system, BigBang maintains a transparent ledger in a decentralized manner, and realizes the autonomous and secures management and efficient flow of user’s digital assets. The BigBang system is designed for IoT (Internet of Things) data service requirements. It uses block technology to provide a decentralized security management platform for IoT data services, and achieves the performance requirements of high concurrency and low latency required by IoT systems. BigBang organizes user transactions through security consensus (transaction) and forms data blocks in chronological order. Unlike single-chain systems such as Bitcoin, BigBang uses a tree structure to store ranked blocks, which can be forked into multiple branches according to the type of business and data load. Blocks between branches are independent of each other, and new blocks are only related to their own branch data. In the case of multiple branches, according to business data traffic, it can be distributed into multiple branch blocks. The resulting scalability and high concurrency is exactly the basic performance required by IoT systems. BigBang's multi-branch structure consists of a single secure main chain and numerous application branch chains. The security main chain is used to support the entire network consensus mechanism and the application branch chain is used for actual business. In the application branch chain, a minimum of 2 seconds of low-latency transaction confirmation can be provided. The user can specify the urgency of the transaction and pay the corresponding transaction fee to achieve low-latency business. 

Technical Characteristics of BigBang Core

1 Tree block structure

BigBang solves the scalability problem of the single chain structure through the tree block structure of "security main chain + multiple application branch chains".

2 Unlimited TPS expansion

The TPS performance of the entire network is the sum of the TPS of the sub-chain performance*n times of branching: 5200*n, which can theoretically reach unlimited TPS expansion, and the cross-chain transactions between sub-chains are also in the order of seconds.

3 PoW + DPoS hybrid consensus of the main network

Prevents main network strikes caused by node betrayal left by a single DPoS consensus; PoW can continue to work in the case of DPoS strikes, and helps to decentralize tokens.

4 UTXO model

BigBang uses the Bitcoin-compatible UTXO model as the underlying data structure, which greatly enhances the security of users' digital assets.

5 Cross-branch trading

The branches of BigBang can use each branch token to trade with each other, which provides good underlying technical support for applications including decentralized exchanges, token exchange gateways, and other applications.

6 Deep integration of system and AWS IoT

The problem of high concurrency of IoT sensors, the data storage and distribution of IoT sensors can be solved at low cost.

7 High-performance definable templates

It is used to adapt to the high-performance requirements of IoT and abandon the disadvantages of attacks against smart contracts virtual machines.

8 LWS intermediate service layer

It can solve the pain points of blockchain data storage: distribution and management of encrypted data, fast access to wallets and DAPPs, and completely offline data.

9 Support for supernodes

BigBang super node clusters allow multiple, and supernode clusters can achieve efficient cross-chain transactions without additional design. BigBang supernodes can support the parallel production of numerous sub-chains, and the blocks can be distributed storage. Supernodes can infinitely expand sub-chain nodes, solve single-point performance bottlenecks, and achieve unlimited TPS expansion.

BigBang Core Team

Founder?Yi Xiu

BigBang has a very experienced international team with team members who have many years of experience in the blockchain industry, cryptography and the virtual currency community.

Main experience?

Participated in the development of the earliest SHA256 & SCRYPT dual algorithm 55nm ASIC encryption chip GC3355 in 2013

Participated in the development of the world's first SHA256 & SCRYPT dual algorithm 28nm ASIC encryption chip SF3301 in 2015

At the end of 2015, according to the "IBM IoT White Paper: Device Democracy", the in-depth study of the blockchain's ability to land in the IoT was attempted, and the first IoT basic blockchain was released

Invested and produced the first Bluetooth 4.x chip in 2016, and applied it in many small IoT devices

In 2017, according to the requirements of many large enterprises, the IoT blockchain architecture was redesigned, and a new DAG tree structure chain was proposed to solve the infinite performance expansion needs required by the IoT industry.

Invested in 2018 and successfully streamed the first Bluetooth 5.0 chip with multiple encryption algorithms

In 2018, the experimental environment has completed the test of the DAG tree structure chain, and introduced consensus such as PoST / PoRep to complete the distributed storage incentive problem of massive data in the Internet of Things.

In 2018, we tested the encrypted data packaging capabilities based on encrypted Bluetooth chips, STM32 architecture, ARM architecture, X86 architecture, and FPGA architecture, and gave different underlying performance data encryption schemes for the Internet of Things through different architectures.

In 2019, the world's first IoT blockchain will be released. The single-chain TPS has exceeded 5200. It can generate unlimited sub-chains, block distributed storage, and achieve second-level cross-chain. It has completed AWS IoT ecological support and adopted AWS Global Backbone Network Completes Global High-Speed ??Node Testing

Development Concept

From the moment BigBang Core started the research and development of the Internet of Things public chain in 2016, it has been working to achieve a credible, applicable and scalable decentralized Internet of Things underlying architecture. Blockchain technology is undoubtedly the optimal solution to achieve a decentralized IoT architecture. The problems of limited scalability, high operating costs, privacy protection, and security risks faced by the Internet of Things will be solved under the blessing of "natural" characteristics such as distributed, decentralized, and non-tampered blockchain.

BigBang Core is committed to achieving a democratic "decentralized autonomous network". By establishing mutual trust and interconnection of devices in a heterogeneous environment, the data value is confirmed and circulated, thereby creating a secure and reliable IoT value conversion platform. Aiming at the IoT application scenario, BigBang takes the high load, security, and high scalability as the development focus, and adopts a unique tree-structured blockchain system and definable templates to greatly improve the performance and expansion of the public chain. The deep integration of the chain with the Internet of Things, the real economy, and big data lays the foundation.

BigBang Core understands the importance of the Internet of Things and the development model needed for the future of the Internet of Things. We use the blockchain as a tool to achieve the decentralization of the Internet of Things, and we also use the idea of the blockchain to build the development of BigBang Core frame. The BigBang public chain will be launched on the premise of ensuring fairness and impartiality. BigBang Core acts as a foundation to participate in the daily management of the public chain. All public chain Coins will be generated by mining and gradually released as rewards to ensure the normal operation of the public chain to global miners. BigBang Core will not make any pre-mining reservations because no private placement has ever been initiated, and there will be no institution or specific group reservations. Without team rewards and no founder rewards, BigBang Core will stand with all supporters to jointly maintain and develop the BigBang public chain and share the dividends brought by the development of the Internet of Things.

BigBang Core has achieved data on-chain in the field of energy monitoring through sensory control equipment. For example, Hangzhou Ailixin carbon emission indicator detection-real-time data generated by industrial equipment is collected by various types of sensors in Jinengbao, and then it is locally cleaned and aggregated, organized into a unified data format, and then converted into a single transaction in forms of blockchain transactions (tx). The blockchain wallet running in Jinengbao signs these transactions (tx), and then uploads them to the Light Wallet Service for data verification through the secure communication link of AWS IoT Core. The verified transaction is sent directly to the BigBang blockchain network for broadcasting through the DBP protocol, and becomes historical data that cannot be tampered with. Jinengbao hardware devices have the ability to collect data from multiple sensors, as well as strong local data processing capabilities. The hardware contains the core BigBang blockchain wallet, and data security can be guaranteed by the onboard security chip.

In addition to the above case, BigBang Core has begun to dock and explore ways to land in many fields such as smart manufacturing, energy, smart cities, connected cars, agricultural big data, and supply chains, and has entered the hardware development stage. Here, BigBang Core also looks forward to cooperating with more IoT companies, entrepreneurs and institutions, co-researching and co-creation, and jointly creating a new IoT business ecosystem. Bringing blockchain technology to life we can perceive, and building a smart world where everything is connected.