The business chain combines the two trend changes of blockchain and new retail, innovatively applies the characteristics of blockchain to build a transparent and trustworthy basic public chain platform, solves the problem of deep integration of offline and online, and reconstructs " The business elements of "people, goods, and places" realize the resource aggregation and value circulation of various forms of business.
Adopt optimized PBFT consensus technology, support 5000TPS transaction speed, and have the ability to realize various medium and low frequency commercial applications. The digital asset certificate of the business chain is BIZAIN Token, abbreviated as "BIZ". BIZ is the equity certificate of the business chain platform, which can continuously obtain various income distribution and consumption scene applications of the business chain platform. As a vertical industry public chain, the business chain will connect with a large number of C-end users and build a business chain token economy ecology.

Project Core

First, data can be owned, thereby solving the problem that Internet data can be copied infinitely, so that assets can be widely exchanged after digitization. Based on blockchain technology, the data that needs to be exchanged and shared can be written into the block. The writing process and content are transparent to each other, and the written data is automatically confirmed. It is not afraid of private tampering or data copying, and the data sharing parties are on demand It can be read, so the cost of data exchange can be greatly reduced. This will greatly reduce the barriers to sharing and exchanging data among organizations such as businesses and governments, and realize the unbounded ideal in business operations.

The second is to achieve decentralized trust, that is, without relying on any third party, and using mathematics to ensure that transactions will not be tampered with or denied. The realization of decentralized trust can greatly reduce the cost of trust, and many intermediary agencies, intermediate links, and many processes in commercial activities can be optimized or omitted, and the realization of business elements such as "people, goods, and venues" in the new retail scene refactoring.

The third is to realize the point-to-point transmission of value, combined with asset on-chain and the tokenization of the rights and interests of merchants and consumers, it can form a wide range of shared value, mutual sharing of traffic, exchange of rights and interests, data process docking and complementary models Business Ecology Alliance.

Technical features

Decentralization
Blockchain is a public account book maintained by each node and stored at each node point of the whole network, because each node The same bookkeeping transaction rules must be followed, and the rules are based on cryptographic algorithms rather than credit. At the same time, each transaction requires the consensus of most nodes in the network to obtain final confirmation, and thus avoids centralized third-party intermediary structures (such as Say bank) or trust agency endorsement. In a traditional centralized network, an effective attack on a central node (such as a payment intermediary third party) can destroy the entire system, but in a decentralized network such as a blockchain, attacking a single node cannot Controlling or destroying the entire network, mastering 30%-50% of the nodes in the network is just the beginning of gaining control. At the same time, decentralization makes it no longer possible for a super administrator to arbitrarily tamper with data in the center.

In the blockchain network, through the self-restraint of the algorithm, any behavior of maliciously deceiving the system will be rejected and suppressed by other nodes, so it does not rely on the support and credit endorsement of the central authority. In the traditional credit endorsement network system, participants need to have sufficient trust in the central organization. As the number of participants in the network increases, the security of the system decreases. On the contrary, in the blockchain network, participants do not need to trust anyone, but as the number of participating nodes increases, the security of the system increases, and the data content can be completely disclosed.

BIZAIN business chain adopts random BFT consensus mechanism, and partners can strengthen credit guarantee by joining consensus nodes. Due to the use of distributed accounting and storage, there is no centralized hardware or management organization, and the rights and obligations of any node are equal. The data blocks in the system are jointly maintained by nodes with maintenance functions in the entire system.

Information cannot be tampered with and encrypted security
The blockchain adopts a one-way hash algorithm, and each newly generated block advances strictly in time linear order, and the irreversibility of time leads to Any attempt to intrude and tamper with data information in the blockchain can be easily traced, leading to rejection by other nodes, thus limiting the generation and execution of related illegal acts.

Because there is no center, all nodes need to decide whether a transaction is confirmed to be valid. This way of confirming the transaction through most nodes is to reach a consensus among different nodes. The consensus mechanism is an important part of blockchain technology. Currently, mainstream technologies include POW, POS, BFT series, etc. Simply put, there are always contradictions and trade-offs in the number of nodes and transaction confirmation efficiency. Taking Bitcoin as an example, it chooses to use POW, which is a simple and practical consensus algorithm, and can support the number of nodes in a large number of Bitcoin networks around the world, but the cost is at least ten minutes to generate a block, and requires at least It takes six blocks to confirm a transaction with a high probability. This is unacceptable for many commercial application scenarios, so the application direction of blockchain determines the choice of consensus algorithm.

BIZAIN business chain adopts the random BFT consensus algorithm. Once the information is verified and added to the blockchain, it will be permanently stored. Unless more than two-thirds of the nodes in the system can be controlled at the same time, the The modification of the database is invalid, so the data stability and reliability of the blockchain are extremely high. Various traffic, data, settlement, agreement, and rights and interests in the operation of the platform cannot be modified by anyone, even the business chain platform.

Openness
The system is open, except that the private information of all parties to the transaction is encrypted, the data of the blockchain is open to everyone, and anyone can query through the public interface Blockchain data and development related applications, so the entire system information is highly transparent. The parties in the alliance can greatly reduce the cost of trust and the threshold of trust, which is conducive to the formation of various alliances.

Autonomy
The blockchain adopts consensus-based norms and protocols (such as a set of open and transparent algorithms) so that all nodes in the entire system can be free and safe in a trustless environment The exchange of data changes the trust in "people" to trust in machines, and any human intervention will not work.

Anonymity
Since the exchange between nodes follows a fixed algorithm, its data interaction is trustless (the program rules in the blockchain will judge whether the activity is valid by itself), so The counterparty does not need to disclose the identity to make the other party trust itself, which is very helpful for the accumulation of credit.
The characteristics of the blockchain put aside those purely technical terms, one is to greatly reduce the cost of trust, so that based on the BIZAIN business chain platform, various business alliances across borders, regions, and formats can be organized. The second is to realize the transfer of value, so that various commercial rights and interests on the BIZAIN business chain platform can be transferred and exchanged as needed. The third is to reduce the cost of data exchange and protect the rights and interests of data ownership, which will greatly reduce the barriers to sharing and exchanging data among various commercial organizations, and realize the unbounded ideal in business operations.