There are a number of challenges facing blockchain development in its current state. Data sources are limited, economic models are not tested, prediction scenarios are limited by the performance of the blockchain, and the interaction of information itself is not communicated efficiently.
Plug Chain is a high-performance public network that aims to address these issues and improve interconnectivity between public network nodes using cross-chain technology.
Cointelegraph spoke with Joy Huang, founder of Plug-Link Funds, or as Mr. Joey prefers to call it, about Plug-Chain’s goals, the solutions it can provide, and how the future of online work can help individuals and the industry.
According to Joy, the reason for creating the delivery chain is to help real industries use blockchain technology.
“The level 0 blockchain is the base layer, the simplest, the core blockchain. The whole original idea behind the delivery chain is that we try to make sure it is the base chain.”
When talking about the development of the project, Joy explained that he invented the world’s first POS system capable of accepting cryptocurrency. “When I founded VeLab, I wanted to make sure that cryptocurrencies were not only used for speculation. We sold 300,000 machines.”
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According to Joy, in his current capacity, the idea that “Blockchain will be the future of all industries is a myth. If there was no oracle network protocol for traditional businesses, they wouldn’t store all their data on the blockchain.”
The platform aims to solve this problem and connect these interactions between different data points.
“We hope that in the future all these factories will be able to use Plug Chain to record their data, and we will help them get it into the blockchain so that the consumer and user can easily access the data,” says the founder.
One of the main advantages of the delivery chain is the combination of Oracle technology and cross technology. This is a service that Joey hopes will make the digital payment process easier in all countries.
“One day, this stablecoin will be completely legally built on the blockchain. Plug Chain hopes to be able to serve them.”
“Every cryptocurrency is a chain and we want to link it together as a series of plugins. To ensure trading of equal value, you need the Oracle Network Protocol. Thanks to this, we are VISA or Mastercard in the cryptocurrency world.”
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The founder describes the current use cases of working on the Internet: “When a DEX can connect to an Internet platform, any transaction or exchange can be easily done through the Internet.” To put it simply, “Plug Chain allows your data to be linked to my data and my data to your data.”
When asked why Plug Chain is different from other blockchains that provide cross-chain functionality, Joey takes a modest approach to the blockchain ecosystem.
“When there are more than 100 blockchains in the market, it is impossible to compare. It is difficult for me because I want all cryptocurrencies to succeed.”
However, when describing the difference between Plug Chain and Polkadot (DOT), Joy notes that “Polkadot relies on registered chains and parachines. When a pair chain is complete, it is. Our platform uses Cosmos (ATOM) to move assets on the chain.”
The company is developing projects from the metaverse of Chinese history and plans to build more than 50 ecosystems at the top of its chain by the middle of the year.