SHANGHAI, CHINA - MediaOutReach - 24 December 2020 - Based on the country's strategy to promote the development of blockchain, LikeLib2.0focuses on the core issues of blockchain applications in various fields, taketypical blockchain applications as an important breakthrough, promotebreakthroughs in key application technologies of blockchain, and studyblockchain service architecture, data Key technologies such as accesstechnology, hybrid storage, data source, cross-chain and sharding, blockchainand IoT intelligent system integration, and develop a basic platform forblockchain services, in blockchain education and training, e-government, supplychain, and carry out application demonstrations in key areas such as finance toopen up the innovation chain, application chain and value chain, thus providingcommon and secure blockchain basic support capabilities.

Recently the technical features of LikeLib2.0 public chain system areannounced through the media.

LikeLib2.0 provides a secure and stable blockchain service basicplatform, covering more than 3 core modules with independent intellectualproperty rights, such as data connection, hybrid storage, and cross-chaintechnology, which are able to quickly build solutions for typical applicationscenarios.

Compared with LikeLib1.0, LikeLib2.0 has a higher level of improvementin core technology architecture, and the transaction speed is about 10000TPS.

The newly released 2.0 system will not only merge transaction programfees, but also copy forks of the blockchain and increase the volume of transfertransactions. The average transaction value can be distributed among therunning nodes.

In addition, there have been steady improvements in supporting smartcontracts, exchangeable consensus mechanisms, and various storage networks. Itcan replace the blockchain consensus mechanism and the basic IPFS distributedstorage network according to different factors (such as transaction volume),which can store a large amount of data outside the chain.

LikeLib2.0 uses database fragmentation technology. Within the databaseof LikeLib2.0 public chain system, only a small part of the input transactionsneed to be processed, and a large amount of verification work can be completedthrough other conventional parallel processing on the network.

Here, BTC and LikeLib seem to be merchants from two countries. The twoparties cannot trust each other and use different currencies, so they cannotdirectly trade.

Therefore, the two parties negotiated a set of rules (equivalent to arelay chain protocol) and established a special trading venue to handletransactions, jointly managed by large merchants (equivalent to gateways) intheir own country as representatives. These large merchants also need to have asufficient amount of assets as security.

The whole process is called a cross-chain bridge, which has technicaladvantages such as multi-signature technology/ring signature technology/hashlocking.

LikeLib2.0 uses Lightning Network transactions and zero configurationtransaction channels.

Both parties transfer funds to a common payment channel and conducttransactions by transferring funds from one end to the other. The existinghosting solutions on the Lightning Network only manage their users' funds onone or a few, and they will not use one channel with each user. Instead, aninternal private ledger is kept to record when the funds belong to the user.

Therefore, users do not have to wait for the payment channel to bebroadcast to the chain. The result is a decentralized network of custodians,with each custodian running a centralized subnet with users.

Earlier we mentioned the ring signature technology in the LikeLib2.0cross-chain bridge. The ring signature is named because a certain parameterimplicit in the signature is composed according to certain rules. However, manyschemes proposed later do not require the structure of the signature to be aring, as long as the formation of the signature satisfies the spontaneity,anonymity and group characteristics, and it is also called a ring signature.

In fact, the security of the ring signature technology scheme is quitehigh, such as: unconditional anonymity, unforgeability, unconditional anonymityof the signer, and the signer can freely specify his own anonymity range, forminga beautiful ring logic structure, which can realize group signatures The mainfunction of but does not require trusted third parties or group administrators.

Ring signature is a special group signature. There is no trusted centerand no group establishment process. For the verifier, the signer is completelyanonymous.

In terms of zero-knowledge proofs, in theory, it is possible to provesomething to everyone else without exposing anything significant, and thevolume of the generated proof is small, the proof cost is very low, and it hasnothing to do with the amount of calculation that needs to be proved.

LikeLib2.0 uses the generation algorithm (G) to generate publicparameters for the proposition, the proof algorithm (P) to generate the proofof the satisfiability of R1CS, and the verification algorithm (V) to verify theproof and other technical methods and means to finally generate the proof. Itcan be proved that there is a secret value reset equation satisfied withoutrevealing the secret.

Data traceability, from the perspective of application, focuses on theprocess and method of tracking.

The "decentralized and distributed" technology of LikeLib2.0records all information publicly on the "public ledger", and can onlybe entered and cannot be modified. Due to the feature of multiple partiesjointly maintaining the simultaneous ledger, the traditional information islandproblem is broken and decentralized management is realized.

In this open distributed accounting system, the blockchain providesusers with openness and consensus; decentralized and transparent transactionsand anonymity for both parties.

The data traceability annotation is a technique for tracing the source,reproduce the historical state and evolution process of the data according tothe trace path, and realize the redirection of the historical data archives.

The World Wide Web has continued to iterate for thirty years before ithas today's prosperity and "Internet +". If we still have confidencein the blockchain in 2020, perhaps we should give it more time. Obviously, theLikeLib2.0 public chain system has given the blockchain industry a gratifyinganswer in 2020.