Guide:
· Modular blockchain is the future trends, Ethereum releases a deep report
· The modular path of SCS Chain
· The concept of SCS Chain
· Rules for the SCS testnet token TSCS airdrop event
Introduction:
Recently, Binance Research released a deep report on “Modular Blockchains: The Race to Become the Top Security Provider”. The report detailed the differences between holistic and modular blockchains. The modular design architecture allows the attributes of the blockchain to show a differentiated trend, and each chain achieving its own optimization is not far away.
Obviously, the modular blockchain is one of the big trends in the future. This article will explore how PoA, sharding, and Rollups will implement modular blockchain designs, thereby solving the scalability problem of the blockchain and providing a new foundation for Web3.
Significance of Modularization: Solving the “Impossible Triangle” Dilemma of Blockchain
In blockchain, there are always three pain points, known as the “Impossible Triangle” of blockchain, and it’s universally acknowledged in the industry that only two can be selected, with all three being impossible to achieve simultaneously.
These three keypoints are:
· Scalability: What is the data throughput of the system? How large is the TPS (Transactions Per Second)? ·
· Decentralization: How many nodes are there in the network? Is there any central authority?
· Security: How difficult is it to attack the network？
In other words, if your blockchain gives equal importance to decentralization and security, then the scalability is inevitably low. If your blockchain considers both decentralization and high scalability, then the security is inevitably low.
The reason is simple, traditional blockchains are monolithic.
Blockchains are always trying to achieve all these three goals on the main chain. However, when we modularize these components, the limitations of the impossible triangle of blockchain disappear.
It’s like breaking a complete production line into several workshops, each executing one stage. If you want to increase production capacity, you can simply expand each stage of the workshop horizontally.
This is the significance of modularization!
So what exactly is a modular blockchain like? How does it operate? We use SCS Chain as an example.
Blockchain is committed to executing three key functions: consensus, data availability, and execution.
· Consensus: Validators or miners reach consensus on transaction ordering, such as Proof of Stake (PoS), Proof of Work (PoW), Proof of Authority (PoA), etc.
· Data availability: Ensuring that the entire network can view transaction data.
· Execution: Processing transactions to update the blockchain state.
Monolithic blockchains perform all these functions in a generic way at the same level, but modular blockchains aim to separate them into different chains and protocols and optimize each component.
SCS Chain achieves modular security through PoA consensus.
SCS Chain replaces the current Proof of Work (PoW) consensus mechanism with PoA. The PoA consensus merges the advantages of PoS and PoW. The PoS component prevents attackers from getting the chance to build blocks, effectively stopping most attacks, such as double spending attacks, ensuring the security of modularity.
SCS Chain, using PoA consensus, greatly exceeds mainstream public chains in terms of efficiency, security, and scalability. Meanwhile, since the PoA mechanism reduces communication between nodes, it processes transactions at a very high speed with very little consumption of computing power.
For example, SCS Chain currently supports up to 5000 transactions per second (TPS), yet it consumes only 1% of the power of Ethereum.
SCS Chain achieves scalability through sharding
Sharding technology allows for “security redistribution” across more shard chains, rather than concentrating the entire system’s security on a single chain. SCS Chain divides the network into smaller units through sharding, and each shard can process transactions and execute smart contracts independently.
This parallel processing greatly enhances the network’s capacity, enabling it to handle more transactions simultaneously and thus providing scalability for SCS Chain.
SCS Chain achieves modular efficient execution through Rollups
SCS Chain has created an independent off-chain transaction execution environment through Scalability Modules (Rollups).
Thanks to Rollups’ high-speed transaction processing, near-zero maintenance costs, and no responsibility for consensus and data availability, Rollups provide moderate scalability and high performance to match centralized servers for SCS Chain without sacrificing decentralization, security, and universality.
The beauty of modular design is that the optimization of each module will amplify the optimization of other modules, creating synergy.
For example:
Any additional space provided by sharding will have a huge impact on the space available on Rollups. Larger scale → faster execution.
Rollups provide a bridge for PoA consensus integration. The combination of the properties of these two components is the key factor why SCS Chain has up to 5000 transactions per second (TPS), consuming only 1% of Ethereum’s power, and this efficiency will be positively associated with Rollups.
Sharding provides SCS Chain with a higher network space, and Rollups create an unconstrained execution environment, packaging transactions and compressing them into the smallest possible data packets. The beauty of modular design is that each module’s optimization will amplify other modules’ optimization, ultimately feeding back to the whole, making the whole greater than the sum of its parts.
What is SCS Chain？
SCS Chain is an efficient and sustainable smart ecosystem public chain developed based on SRC-20. It solves limitations in terms of scalability and security, and can support up to 5000 transactions per second (TPS), with gas fee only 1% of Ethereum. Web3 applications on it will fully exploit their potential at a very low cost.
SCS Chain has the ability to create and deploy smart contracts and is compatible with the Ethereum Virtual Machine (EVM) and the existing smart contracts and decentralized application (Dapp) ecosystem. This enables Ethereum tools and Dapps to migrate seamlessly to SCS Chain.
Currently, the SCS Chain testnet is officially online, and its testnet token TSCS airdrop event has officially started.
According to the distribution rules of TSCS, users participating in the event will share 200 million TSCS, accounting for 100% of the total TSCS token supply.
The rules for the 200 million TSCS airdrop event are as follows:
The second stage of the airdrop event officially starts at 4:00 PM (UTC) on June 13, 2023. The airdrop rewards will be distributed starting from 9:00 AM (UTC) on June 14, 2023, daily. The event will end the day before the mainnet goes online in Q3 2023.
The specific activities are as follows:
1.Hold ET to get TSCS airdrop rewards
During the event, all incremental holding users of ET can receive TSCS airdrop rewards;
Exchange rules:1ET=2TSCS
Calculation rules: Based on the user’s ET holdings on the 12th, incremental calculation starts from the 13th, and the incremental part is awarded with a 1:2 airdrop. The reward is settled five times at irregular intervals every month according to the ET holdings on the settlement day. After each settlement is completed, you need to increase your holdings again to get subsequent rewards!
Example:
If Jack held 500ET before June 12th, and can receive 1000TSCS airdrop on the settlement day of the 12th;
Starting from the 13th:
-First settlement: If Jack added 500ET to his holdings, with a total holding of 1000ET, he will receive a 1000 TSCS airdrop;
-Second settlement: If Jack did not increase his ET holdings after the first settlement, and there will be no airdrop reward;
-Third settlement: If Jack added 400ET to his holdings, with a total holding of 1400ET, and he will receive a 800TSCS airdrop;
And so on, if you increase the number of ETs held every time you settle this month, then the monthly increase in holding yield will reach an amazing 1000%
2.Participate in contract transactions to get TSCS airdrop rewards
During the event, all users who participate in future trading can receive TSCS airdrop rewards;
Exchange rules:1:2
Calculation Rule: The futures transaction trading fees for the day (including both opening and closing orders, in both buying and selling ) will be settled daily.
For example: If Jack participates in futures trading during the event and the trading fees reach 100 USDT, according to the exchange rules, Jack can receive an airdrop reward of 200 TSCS tokens for that day.
3.Participate in 1USD to get TSCS airdrop rewards
During the event period, all users of 1USD can receive TSCS airdrop rewards;
Exchange rules: 1:1
Calculation rules: According to the participation amount on that day, settled once a day.
Example: During the event period, if Jack purchased 100 shares of Iphone14’s 1USD rush purchase at a unit price of 1USDT. If he was lucky that day, he will not only receive a brand new Iphone14 reward, but also receive an airdrop reward of 100TSCS based on his participation amount of $100.
Calculated at the price of 1TSCS=1USDT, participating in 1USD during the event period can achieve “the possibility of winning the lottery”
4.Invite users to get TSCS airdrop rewards
During the event period, inviting new users to register, recharge and trade can all receive TSCS airdrop rewards. Invitees can also receive TSCS rewards after completing recharge.
4.1 Invite users to register
Exchange rules: 1:0.5
Calculation rules: According to the number of newly invited registered users on that day, settled once a day.
Example: During the event period, Jack invites 10 new users to register for SuperEx every day. According to the rules, Jack can receive 5 TSCS rewards every day.
4.2 Invite new users to register and recharge
During the event period, inviting new users to register an account and recharge ≥10U can receive TSCS airdrop rewards;
Exchange rules: 1:1
Calculation rules: According to the recharge amount of invited people, settled once a day.
Example: Jack invites 10 new users every day. Among them, 5 people each recharge 10 U. According to the rules, Jack can receive 50 TSCS airdrops every day.
4.3 Invite new users and complete transactions
Exchange rules: 1:2
Calculation rules: According to the actual commission amount returned by invited users on that day, settled once a day.
Example: Jack invites 10 new users every day. Among them, 5 people complete transactions and their commission amount reaches 50U. Then according to the rules, Jack can receive a 100TSCS airdrop reward.
4.4 Invite new users to complete recharge and hold positions
Exchange rules: 1:2
Calculation rules: According to the balance of funds in the invited user’s account, it is settled once a day.
Rule description: The fund balance is equal to the sum of the spot plus in the account and the remaining funds in the account;
For example: Jack participated in all activities, so how much income will he get?
If Jack is a old user of the platform, airdrop tokens that can be obtained:
Since Jack UID account was registered, starting from April 30th, the average number of ET holdings is 1000, then he can get an airdrop of 2000 TSCS;
Since Jack UID account was registered, he has conducted platform contract transactions, and the amount of fees for all contract transactions is 100U, then he can receive an airdrop of 200 TSCS;
Since Jack UID account was registered, he invited friends to register and recharge,
1> Invite 2 friends to register through the exclusive link. The total recharge amount of the 2 invited persons is 1000U, and he can get 1000 TSCS;
2> After the invited person completes the transaction, the commission is 50U, then he can receive an airdrop of 100 testnet tokens TSCS;
Then Jack can receive an airdrop of 1100 TSCS by inviting users;
- Jack UID account participates in platform 1USD activities with a total participation amount of 200U, then he can receive an airdrop of 200 TSCS;
Then user Jack can finally receive a total of test coin airdrops:
TSCS = 2000+200+1100+200 =3500
※ SuperEx has the final interpretation right for all activities!