plugchain

[plugchain]

PlugChain October Monthly Report (10/01–10/31)

Dear PlugChain Community Members,

Hello everyone! Today, we are releasing the PlugChain October report. We will regularly report on project progress in the form of monthly reports to keep the community informed about the latest developments from the official team.

Let’s take a look at what new progress PlugChain has made in October!

Operation

October 2nd: PlugChain, in collaboration with MetaERA, released a video to provide a deeper understanding of #PlugChain’s advanced technology and future, as well as its specific application scenarios and unique features.

October 10th: The PlugChain Brazilian community, in association with Cointelegraph, initiated a national #ID program powered by blockchain technology. This initiative is expected to advance the development of blockchain infrastructure.

October 18th: PlugChain partnered with MEXC to organize a “PC Airdrops” themed event. Participants entering their MEXC deposit address had the opportunity to win PC tokens valued at 20U.

Technology

Data Collection Module Optimization: 1.Optimization of data cleaning and processing structures. 2.Data storage optimization. 3.Customization of privacy policies. 4.Exception handling and logging.

Oracle Generation Module: 1.Development of oracle algorithms. 2.Optimization of oracle data analysis.

Community

October 4th: PlugChain officials participated in the invited community theme discussion “Delve into the fascinating realm of #FTX & #SBF”. Community ambassadors interpreted the impact of FTX & SBF on the industry for online users.

October 11th: PlugChain community ambassadors participated in the Twitter Space “CPI, BTC, ETF, ETHS — Are You Ready?”. They discussed the future development of the EVM series and explored the mysteries of the market together.

October 16th: PlugChain community ambassadors were invited to participate in the Twitter Space “When DeFi Meets SocialFi” hosted by ApolloX. They discussed what the future holds after the wave of SocialFi.

October 22nd: Smith, a PlugChain community ambassador from Turkey, was invited to participate in “Antalpha HackerHouse #AKONNECT”. He engaged in deep discussions with industry elites about advancing physical development through the blockchain ecosystem.

PlugChain’s official Twitter had impressive statistics with a display of 105.3K for tweets, 192K visits to the personal homepage, a total of 5,450 retweets, and coverage of 370K Twitter users.

In Conclusion

 PlugChain is always in action, continuously enhancing its strength through technological innovation and actively participating in community cooperative activities to expand the project’s influence. In the future, we will continue to work hard to lay a solid foundation for the substantial development of PlugChain. We thank our community partners for their support and look forward to witnessing the glorious achievements of PlugChain together!

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.info Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

Web3.0 is very important to us

The centralized network has integrated billions of people into the Internet and created stable and reliable infrastructure on it. Meanwhile, a handful of centralized giants almost monopolize the Internet and can even do whatever they want. Web3 is a solution to break free from this predicament. Unlike the traditional Internet dominated by tech giants, Web3 is decentralized, built, operated, and owned by all users. Web3 empowers individuals instead of companies, resonating with the early Internet’s spirit of freedom.

The Internet was rudimentary at the time but powerful. In the following 20 years, the “Internet” changed the nature of society, bringing many conveniences to our lives. However, the basic technological structure of the Internet did not support changes in other directions, even intensified certain monopolies, or exacerbated the gap between rich and poor

In terms of the evils of data monopolization, it’s clear that the internet as it exists today is broken by design. We see wealth, power, and influence accumulating in the hands of the greedy, the egomaniacal, or the purely malicious. Markets, institutions, and relationships of trust have shifted onto this new platform, and while the faces and incumbents have changed, the underlying dynamics remain the same.

Take “how we make payments online” as an example. In the Web 2.0 era, you don’t have the authority to make a payment yourself. In fact, you have to contact your financial institution and have them make the payment on your behalf. People don’t trust you, not even with innocuous tasks like paying your utility bills. You’re treated like a child seeking parental permission. If you want to reach out to friends online, you need Facebook to relay the message for you.

These giant corporations behind these services are critical to our personal and professional lives. They don’t have (overt) malevolent intentions, but neither are their actions driven by benevolence or some set of principles. They make money from our loyalty, feed us information, and can sever our connections when it suits them.

Most of us aren’t primarily afraid of the government or corporations encroaching on our lives, but there’s ample evidence that their interests are not aligned with ours.

This is illustrated in “Wikileaks” (a stateless, non-profit internet media that operates organizations, businesses, and governments in the light by assisting informants).

In 2010, a group of respected journalists focused on the public interest often posted on WikiLeaks, but they were targeted and cut off by major financial institutions like PayPal and Visa without any legal basis. If you wanted to make a completely legal charitable donation to WikiLeaks, you were effectively unable to.

With such a vast amount of data in the world transmitted through only a handful of cables, an undeniable fact is that our increasingly digital society will continue to face malicious forces both within and outside of social structures (such as Russia tampering with our elections) unless we implement open software protocols. Those who wish to preserve the post-war world order of peace and freedom need to recognize that our current digital infrastructure will magnify society’s ills rather than heal them.

Broadly speaking, Web3 is a new internet paradigm aimed at creating a more open, decentralized, and user-controlled internet. Key features of Web3 include the use of blockchain technology to establish distributed networks, decentralized applications, and smart contracts. This new internet paradigm empowers users with more authority and autonomy while reducing reliance on intermediaries. The core idea of Web3 is that users have control over their digital identities, data, and assets.

Of course, from a technical perspective, Web 3.0 encompasses a series of protocols that provide building blocks for application developers. These building blocks replace traditional Web technologies, such as HTTP, AJAX, and MySQL, presenting a brand-new way of creating applications. These technologies offer users robust, verifiable guarantees that ensure the integrity of the information they receive, the information they provide, the fees they pay, and the rewards they obtain. By enabling users to act autonomously in markets with low barriers to entry, we can establish sound auditing systems that leave no room for monopolies to hide.

Though from the user’s standpoint, Web 3.0 today may seem almost indistinguishable from Web 2.0, at least in the beginning. We will see the same presentation technologies: HTML5, CSS, and so on. Tools like MetaMask bridge different technological threads into a single economy and “movement.” We’ll use web browsers, but they might be referred to as “wallets” or “keychains.” These browsers (along with components like hardware wallets) will represent a person’s assets and identity online, enabling us to verify who we are and make payments without the need for banks or other identity verification services.

If Web3 represents a brand-new era of the internet, aiming to address the centralization issues of the Web 2.0 era, then Oracle, as a crucial component of Web3, will bring about more trustworthy data, automated smart contracts, expanded application domains, and decentralized marketplaces. The adoption of Web3 might take some time, but it will create a more open and free digital world for us.

Trustworthy Data: Data on the blockchain will be more trustworthy as it can verify and fetch data from external sources. This will enhance the transparency and credibility of the blockchain, helping to prevent the spread of false data.

Automated Smart Contracts: Blockchain smart contracts will be able to interact with the external world more flexibly. This will lead to more automation and autonomous decision-making, reducing the need for human intervention.

Expanded Application Domains: Oracle will broaden the application areas of blockchain applications, including the financial derivatives market, insurance sector, supply chain management, weather forecasting markets, and more. It will also spur the emergence of new innovations and business models.

Decentralized Marketplaces: Oracle will assist in establishing more decentralized marketplaces, reducing reliance on intermediaries. This will break monopolies and allow more participants into the marketplace.

In summary, Oracle is one of the key components of Web3. It acts as a bridge between blockchains and the real world, enabling smart contracts to access and utilize information from the external world. This includes fetching data from external sources, verifying the authenticity and reliability of the data, and triggering actions within smart contracts when external events occur.

Concluding Remarks: Web3 is a young and continuously evolving ecosystem. Gavin Wood coined the term in 2014, but many of the concepts have only come into fruition recently. Perhaps we are just at the beginning of using Web3 to create a better internet, but with ongoing improvements to its infrastructure, the future of the internet looks bright.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

PlugChain September Monthly Report (09/01–09/30)

Dear PlugChain Community:

Hello everyone! Today we are pleased to present the monthly report for PlugChain in September. Let’s take a look at the new developments that took place during this month.

Operation

On September 12th, the inaugural Meta Era Summit, focusing on the Metaverse and Web 3.0, was hosted by Meta Era in Singapore. This summit aimed to provide a platform for collaboration and exchange among global Web 3.0 and Metaverse technology enthusiasts. It sought to integrate industry forces worldwide to jointly build a more robust and comprehensive Metaverse and Web 3.0 ecosystem, paving the way for the new era of the internet. As a strategic partner of the Meta Era Summit, PlugChain was invited to attend, and our ecosystem representatives actively participated in roundtable discussions.

During the conference, PlugChain’s ecosystem advisor, Kwang Wei Sim, joined prominent industry figures including Justin Sun, the founder of TRON, Ryan Terribilini, Executive Vice President of Algorand Ventures, Eric Kang, Head of Business at Ava Labs, Alvin Kan, Asia Head of Sei Foundation, Herbert Yang, Asia General Manager of DFINITY, in discussing how to cultivate exceptional ecosystem systems on public chains.

Technology

Data Collection Module Optimization: Data Cleansing and Processing Data Storage

Oracle Module Development: Initial Oracle Algorithm Design Oracle Data Analysis

Community

On September 19th, PlugChain was invited to participate in a conference titled “Public Chain Trends and Insights,” where we provided insights into the development and trends of the public chain industry. Here are some key points discussed:

The future development of public chains should see a diverse and competitive landscape. Cross-chain interoperability is an inevitable trend. This means that public chains will become more standardized, following reasonable rules and protocols, while also offering distinct features tailored to different application scenarios. For example, some chains may focus on financial transactions, while others may specialize in supply chain management or the Internet of Things. This diversity helps meet the needs of various industries and applications.

Public chains like PlugChain are actively exploring deep integration with oracle machines and cross-chain technologies to enable the coexistence of multiple chains and facilitate asset and data transfer across them. This fosters more complex cross-chain applications and collaborations. Moreover, multi-chain architecture helps overcome some of the current limitations of blockchain technology, improving performance, reducing costs, enhancing security, and supporting a broader range of use cases. It brings greater flexibility and scalability to the blockchain ecosystem, making it an important trend in the future of blockchain development.

However, the multi-chain approach also faces challenges, such as cross-chain interoperability and governance issues, which require ongoing research and resolution. These are the areas where PlugChain continues to advance and thrive.

PlugChain’s official Twitter account saw impressive statistics, with 127.1K tweet impressions, 247K profile visits, and 10,396 retweets, reaching 315K Twitter users.

In Conclusion

While PlugChain had a relatively quieter September, our significant presence at the Meta Era Summit and discussions with industry leaders underline our position in the industry and the growing importance of public chain technology in the market. Moving forward, PlugChain will continue its relentless efforts to build a stronger, safer, and more efficient public chain ecosystem.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

PlugChain Official Strategic Support, Hong Kong Crypto Financial Summer Forum Successfully Concludes

On August 25th, the Hong Kong University of Economics and Business Management, Finance Connect Society, Meta Era, and 3W Group jointly organized the ‘Hong Kong Crypto Financial Summer Forum’ at The Grand Hall of the University of Hong Kong. This event witnessed a series of intensive agendas and in-depth industry discussions, concluding with a warm and successful atmosphere.

As the official strategic supporter of this event, PlugChain is pleased to announce its active participation throughout the forum. We joined hands with partners from various sectors to explore the future direction of the industry, aiming to promote innovation and development in the blockchain and crypto financial sectors. PlugChain, as a public chain focused on the Web3.0 arena, recognizes the potential and challenges in the crypto financial field and is committed to contributing its insights and strengths for the sustainable development of the public chain sector.

During this summer forum, industry leaders, entrepreneurs, and experts from around the world came together to share their profound insights on hot topics like crypto finance, blockchain, and DeFi. Participants engaged in discussions exploring the evolution of the crypto financial ecosystem, regulatory challenges, and innovative applications, painting a vibrant blueprint for the industry’s future.

The forum’s central theme, ‘Initiating Cross-Industry Dialogues for Web 3.0, Exploring the Future Potential of the Digital Economy,’ is crucial for forward-looking discussions on financial technology development. Industry pioneers, innovators, and leaders from around the world gathered to collectively explore the intersection of financial technology and Web 3.0, seeking new opportunities and innovative pathways.

Professor Cai Hongbin, Dean of the Faculty of Economics and Business Administration at the University of Hong Kong and Director of the Institute of Economics, gave the opening remarks. He emphasized the decentralized nature of the forum, noting that technologies like ChatGPT could replace traditional welcome speeches. He stressed the importance of maintaining an open attitude towards technological advancements, whether it be blockchain, digital currencies, or Web 3.0, all of which hold immense potential. He commended the efforts of the Hong Kong government in driving innovation in the Web 3.0 and cryptocurrency space.

Tian Lei, Executive Chief Editor of the Finance Connect Society Hong Kong Branch, shared insights into the development opportunities in the Greater Bay Area in the field of crypto finance. She highlighted that the crypto finance industry in the Greater Bay Area is rapidly growing, benefiting from its excellent financial environment and appeal. The region has attracted numerous domestic and international financial institutions and blockchain startups, driving widespread adoption and deep exploration of cryptocurrencies and blockchain technology.

Raymond Chan, CEO of Cyberport Hong Kong, provided an analysis of the opportunities and challenges of Web 3.0 from a fintech perspective. She shared Cyberport’s efforts in talent development, industry growth, and technology promotion within the Web3 Base, aiming to enhance public understanding of virtual assets and promote the widespread application of blockchain technology.

Roundtable Discussions Ignite the Flame of Exchange at the Forum

Live exchanges and roundtable discussions at the forum added interdisciplinary highlights. Representatives from different fields shared their insights and experiences in the field of crypto finance, discussing topics such as the development of crypto finance in the Greater Bay Area, the convergence of Web 3.0 and traditional industries, and the impact of AI on the metaverse.

Representatives from various sectors actively contributed ideas, injecting practical strategies and in-depth policy considerations into the entire discussion. The forum was not only an academic exchange but also a platform for practical and forward-thinking discussions.

As the forum concluded around 8 p.m., the enthusiasm remained unabated. Many attendees stayed on-site, sharing knowledge and collaboration opportunities. With rich knowledge and new prospects for collaboration, attendees left the event, recognizing that the Web 3.0 era has arrived. They are poised to become leaders and innovators in this wave. Looking ahead, we anticipate that this forum will inspire more innovative projects and collaborative outcomes, collectively driving the prosperity and development of the digital economy.

In the future, PlugChain will continue to adhere to the principles of technological innovation and open collaboration, continuously promoting the integration of blockchain and crypto finance. We are committed to building a more secure, efficient, and inclusive financial ecosystem. We look forward to working together with various stakeholders to jointly create a brilliant new chapter in the field of crypto finance.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

Thank you for your companionship! PlugChain’s mainnet celebrates its second anniversary.

On August 19, 2021, PlugChain’s mainnet officially went live and has been running smoothly for a full two years. During these two years, as a Web3 public chain project, PlugChain’s core technology has become more mature and refined. The public chain ecosystem has seen extensive and profound expansion, and the community has experienced linear growth since the mainnet launch. Thanks to the magnetic force of PlugChain’s technology prowess, the global PlugChain community has united millions of members to work together in dedication and unleash their potential.

Community User Growth: Winning Together

Since the launch of the PlugChain mainnet, community engagement and user numbers have been steadily increasing, serving as a crucial pillar of PlugChain’s success. Through continuous promotion, marketing efforts, and a diverse range of community activities, PlugChain has attracted a substantial number of users interested in blockchain technology and applications. As of now, PlugChain boasts a community of over two million members spread across the globe.

It’s worth noting that PlugChain places a strong emphasis on establishing an open and transparent community governance model, actively seeking input and feedback from its community members. This approach enables community members to actively participate in the decision-making and development of the public chain. PlugChain firmly believes that only through mutual growth with its community users can a win-win situation be achieved.

In the field of technology, PlugChain has always adhered to a philosophy of continuous innovation, consistently driving the iteration and improvement of public chain technology. Through collaboration with top experts in the blockchain domain, PlugChain has not only continuously optimized aspects like security, performance, and smart contracts but has also achieved significant breakthroughs in critical areas such as privacy protection and cross-chain interoperability.

Last year, PlugChain embedded an AI system into the underlying architecture of the public chain, resulting in a better fusion and integration of intelligent features for ecosystem applications with blockchain’s scalability and security. Simultaneously, by introducing sharding technology and the concept of heterogeneous chains, PlugChain achieved high throughput for on-chain transactions (up to 100,000 TPS), providing users with faster and more stable transaction experiences.

Furthermore, PlugChain is dedicated to providing a developer-friendly environment, offering a wealth of development tools and documentation to help developers build and deploy decentralized applications more conveniently, further enriching the PlugChain ecosystem.

Public Chain Technology Iteration: Innovating Continuously Forward

PlugChain is well aware of the value of a healthy ecosystem in the success of a public chain. Therefore, over the past two years, PlugChain has actively established partnerships with industry collaborators, driving the continuous expansion of the public chain ecosystem.

Simultaneously, PlugChain has built a series of ecosystem fortifications, including self-developed components such as Pando (the official wallet), PLUG Browser (blockchain browser), Very5 (the official NFT platform), GxSwap, PUSD (the official stablecoin), and more. In fields like DeFi, NFT, GameFi, AI, PlugChain has closely collaborated with over 20 high-quality projects, collectively advancing the real-world application of blockchain technology.

Looking to the Future: Pioneering a New Era in Blockchain

PlugChain celebrates its two-year anniversary of the mainnet launch, looking back, we feel proud and satisfied. However, PlugChain’s team is well aware that the road of blockchain technology and applications is long and challenging. In the future, PlugChain will continue to uphold the principles of openness and mutual benefit, innovate continuously, and work together with the community, users, and partners to pioneer a new era in blockchain.

Through continuous technical optimization, ecosystem enrichment, and expanded partnerships, PlugChain will continue to provide users with a more stable and efficient blockchain infrastructure, paving the way for the widespread application of blockchain technology and jointly embracing the new era of the digital economy.

As we look back on this journey, let us salute every community member who has made a positive contribution to PlugChain. Standing at a new starting point, PlugChain will continue to work hard with everyone to build a better PlugChain community

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

Introducing the “PYUSD,” Unveiling PayPal’s Journey into Cryptocurrency

On the evening of August 7th, the California-based payment company PayPal announced that it will launch a stablecoin named PayPal USD (PYUSD), making PayPal the first tech giant to issue a stablecoin. This news instantly ignited the entire cryptocurrency industry, as PayPal, with its user base of 430 million, introducing a stablecoin undoubtedly will greatly advance the integration of Web3 with traditional finance and the real world.

Reportedly, the stablecoin PayPal USD (PYUSD) will be issued by Paxos, a company that has previously collaborated with Binance to launch the USD-backed BUSD. In PayPal’s announcement, the official statement reads: “PayPal USD aims to reduce friction in payments in the virtual realm due to lack of experience, facilitate swift value transfer to support friends and family, remittances, or international payments, enabling direct flow to developers and creators, and promoting the continuous expansion of digital assets by the world’s largest brand. While most stablecoins are primarily used within the web3 environment, PayPal USD will be compatible with that ecosystem from day one and will soon be available on Venmo.”

It’s evident that PYUSD will be gradually introduced in the coming weeks, eligible US PayPal customers who purchase PYUSD will be able to transfer PYUSD between PayPal and compatible external wallets, conduct peer-to-peer payments using PYUSD, select PYUSD at checkout, and convert PayPal-supported cryptocurrencies to PayPal USD.

The seemingly abrupt emergence of PYUSD is actually the result of years of strategic planning by PayPal.

As early as 2016, PayPal established a long-term partnership with Coinbase. In 2018, Coinbase enabled US customers to make instant withdrawals through PayPal. Last year, European Coinbase users were able to withdraw funds from their PayPal accounts, with Canadian users following suit.

At the beginning of 2020, insiders reported that following a brief collaboration with the Facebook-led Libra project the previous year, PayPal’s current focus was on expanding its payment expertise. Subsequently, PayPal released job openings to expand its new blockchain research team. PayPal’s Chief Technology Officer, Sri Shivananda, mentioned in an interview that the company wanted to “have its own perspective and understanding of blockchain technology and explore how it can help us create an open digital payment platform that can serve everyone.”

In June 2020, reports emerged that PayPal was planning to directly sell cryptocurrencies to its 325 million users. In October, Charles Cascarilla, Co-Founder and CEO of Paxos, announced that Paxos would support PayPal’s “new service,” allowing US users to directly purchase, hold, and sell crypto assets from their PayPal digital wallets.

In the same year, a research report from Japanese securities firm Mizuho Securities indicated that Bitcoin trading among PayPal users could potentially benefit the company’s stock price and projected a revenue increase of about 20% for the following year. The report raised the company’s stock target price from $270 to $290, while PayPal’s stock price at that time was $218. Meanwhile, Paxos announced securing $142 million in Series C funding from companies including PayPal.

In February 2021, according to investor reports from PayPal, in the fourth quarter of 2020, PayPal added a net of 16 million active accounts and processed a total payment volume of $277 billion. Users who bought cryptocurrencies through the platform logged in twice as often as before their cryptocurrency purchases. This marked the first profitable period for the payment giant since introducing its cryptocurrency buying service at the end of the previous year. PayPal’s transaction revenue increased by approximately 12% in the fourth quarter of 2020 compared to the previous quarter, reaching $5.7 billion.

In March 2021, Reuters reported that PayPal would launch a cryptocurrency settlement service, allowing U.S. consumers to use their held cryptocurrencies to make payments to millions of online merchants worldwide. The following day, PayPal CEO Schulman purchased a pair of cowboy boots using Bitcoin through PayPal and recorded the purchase process, which was shared online. In April, Paxos announced completing a $300 million Series D funding round, with continued investment from PayPal.

In May, according to a report by The Block, PayPal officially considered launching a stablecoin. Insiders indicated that if PayPal were to issue a stablecoin, it would be more inclined to collaborate with third parties and had discussed stablecoin matters with several teams, including the Avalanche team. Prior to this, Bloomberg developer Steve Moser discovered relevant code related to PayPal exploring the creation of its own stablecoin within the PayPal iPhone application.

In April 2022, PayPal’s President and CEO, Schulman, emphasized during the company’s quarterly earnings call that digital wallets would play a critical role in PayPal’s future growth. He stated, “We need to double down on digital wallets. I believe that’s the future of the industry and the core of PayPal.”

On-chain transaction records also confirm the above information: The current total supply of PYUSD is 26.9 million tokens. In November 2022, Paxos minted the first batch of 1.1 million PYUSD on the Ethereum network, followed by several small transfer tests. On February 1, 2023, another 26.4 million PYUSD were minted. On February 23, 25.5 million PYUSD were burned. On August 3, another 24.9 million PYUSD were minted.

In conclusion, despite PayPal’s involvement in the cryptocurrency space over the past few years, the official launch of their stablecoin remains a significant event in the development of cryptocurrencies. Stablecoins, as a convenient gateway to enter the crypto world, are often considered important tools for guiding cryptocurrency users.

Furthermore, the compliance journey of PYUSD seems to highlight the relaxation of regulatory policies in various countries and regions. After Singapore and Hong Kong reaped many benefits from embracing Web3, signs also indicate that the attitude of the U.S. political sphere is shifting towards embracing digital assets in step with the times: BlackRock applying for a Bitcoin ETF, a court ruling that XRP is not a security, and now PayPal issuing the stablecoin PYUSD. Changes in the regulatory environment often determine the fate of an industry.

We are entering a new era and stepping into a compliant century!

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

PlugGPT has successfully launched on the Pando Wallet

After the strategic collaboration between PlugChain and iPollo.ai, the official Pando wallet of PlugChain successfully integrated iPollo.ai’s leading intelligent plugin on August 3, 2023. As a result, PlugGPT was born, bringing users a brand new intelligent experience. PlugGPT is an intelligent plugin built on OpenAI’s GPT-3.5 technology, equipped with powerful natural language processing and comprehension capabilities, enabling intelligent conversations and creative outputs within the Pando wallet.

Clearly, the successful deployment of PlugGPT signifies PlugChain’s commitment and emphasis on AI technology in the Web3.0 industry. Embracing a technology-driven innovation philosophy, PlugChain continuously explores and expands the boundaries of new technologies. The collaboration with iPollo.ai not only demonstrates PlugChain’s determination for intelligence, but also extends AI technology into more ecosystem scenarios, providing users with a more convenient and efficient blockchain experience.

In the future, PlugChain will continue to focus on AI technology research and application, aiming to promote the implementation and popularization of AI scenarios. With continuous technological advancements, PlugChain believes it will explore more integration points with AI technology to offer users innovative intelligent applications. Additionally, PlugChain will embrace an open cooperation concept, inviting more outstanding technology companies to join forces in building a thriving intelligent ecosystem.

Whether it’s smart contract execution or community governance decisions, the empowerment of AI technology will be a crucial element in the PlugChain ecosystem. PlugChain firmly believes that only through technology-driven innovation can the blockchain ecosystem achieve comprehensive upgrades. The collaboration with iPollo.ai has brought even more possibilities for PlugChain’s future development.

PlugGPT and unlock infinite possibilities! As the official wallet Pando’s intelligent plugin, PlugGPT will provide users with a fresh experience. The strategic collaboration between PlugChain and iPollo.ai signifies PlugChain’s emphasis on AI technology and exploration of intelligent scenarios.

Moving forward, PlugChain will continue to center its focus on technology, building a more intelligent ecosystem to offer users a superior blockchain experience. PlugChain is set to become a leading public chain in the Web3.0 era, leading users into a new chapter of the intelligent ecosystem!

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

PlugChain July Monthly Report (07/01–07/31)

Dear PlugChain Community:

Hello everyone! Today we are pleased to present the monthly report for PlugChain in July. Let’s take a look at the new developments that took place during this month!

Operation

On July 3rd, PlugChain officially acquired ownership of “Plugchain.bit,” marking a new milestone in its decentralized domain name ecosystem.

On July 6th, PlugChain launched the “Mint NFT and Get Rewards” event, which lasted for 10 days until July 16th, 23:59 (UTC+8). Users from all platforms were sincerely invited to actively participate.

On July 6th, PlugChain launched the “Mint NFT and Get Rewards” event, which lasted for 10 days until July 16th, 23:59 (UTC+8). Users from all platforms were sincerely invited to actively participate.

On July 20th, PlugChain initiated the Global Ambassador Recruitment Program, warmly welcoming blockchain projects, public chain technologies, and industry professionals from around the world to participate in the official ecosystem construction.

On July 21st, PlugChain and iPollo.ai announced a strategic partnership, garnering widespread attention in the industry. As a public chain focusing on the Web3 track, PlugChain’s collaboration with the seasoned Web3 AI platform, iPollo.ai, brings about more innovative possibilities for the Web3.0 industry.

On July 25th, 2023, PlugChain was invited to attend the Tokyo Web3 Infinity Conference, where it made a significant appearance and showcased its leading position and technical advantages in the public chain field. The Tokyo Web3 Infinity Conference is a significant event focusing on Web3 technology and the crypto economy, bringing together renowned KOLs, political figures, and project founders from Japan, as well as attracting numerous Chinese communities, institutional investors, and Web3 builders from overseas, with a participation of over 400 people+.

On July 27th, PlugChain officially announced its participation in the Main Meta Era Summit 2023 Web 3.0 Summit. The summit is scheduled to take place on September 12th, 2023, in Singapore, focusing on the development of Web 3.0 technology and the Metaverse. It aims to provide a platform for global advocates to exchange ideas and collaborate, jointly promoting the flourishing development of the Metaverse and Web 3.0 ecosystem.

Technology

PC (PlugChain):

Wallet Update to Version 1.0.12: Fixed known issues.

Replacement of PUSD Cross-Chain Channel.

Seed node updates.

Oracle (Prophecy Machine):

Basic AI functionality update.

Implementation of preliminary data analysis AI framework.

Community

On July 7th: PlugChain’s official participation in an invited community theme discussion titled “Delve into the Fascinating World of Oracle.” The community ambassadors shared insights with online users about oracle network technology and its future development potential.

On July 13th: PlugChain’s official invited participation in a community theme discussion titled “Dive into the Fascinating World of Artificial Intelligence.” The community ambassadors explained the AI technology ecosystem and the impact of AI on various industries to online users.

On July 19th: PlugChain’s official invited participation in a community theme discussion titled “The Ultimate Gathering for the Ethereum Community.” The community ambassadors provided in-depth insights to online users about the technical development and value potential of the public chain and the Ethereum ecosystem.

On July 25th: PlugChain’s official invited attendance at the event “AI Blockchain, Web3 New Opportunities,” hosted by iPollo’s CN Space. The community ambassadors shared their views on AI’s impact on industry development and how PlugChain leverages AI for breakthroughs.

On July 26th: PlugChain’s official invited participation in a community theme discussion titled “Worldcoin.” The community ambassadors explained the operational logic and potential value behind Worldcoin to online users.

PlugChain’s official Twitter statistics: Tweet impressions: 217.1K, Profile visits: 327K, Total retweets: 17,396, Coverage of 315K Twitter users.

In conclusion, compared to the previous month, PlugChain’s official community has been very active in July. They have actively participated in ecosystem construction, particularly impressing users at the Tokyo Web3 Infinity conference, where they received positive feedback for explaining the public chain’s technology and the value of the oracle network protocol. This success marks a promising start for PlugChain’s community outreach in East Asia.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

A successful conclusion, PlugChain made a grand appearance at the Tokyo Web3 Infinity conference

On July 25th, 2023, PlugChain was invited to attend the Tokyo Web3 Infinity conference, making a significant appearance at the event. They showcased their leading position and technological advantages in the public chain space to the attendees.

The Tokyo Web3 Infinity conference is a prominent event focused on Web3 technology and the crypto economy. It brought together renowned KOLs, political figures, and project founders from Japan, as well as attracting numerous Chinese communities, institutional investors, and Web3 developers. With over 400 participants, the event was vibrant and lively.

At this grand gathering, PlugChain had the opportunity to showcase its prominent position in the public chain field, demonstrating its global recognition and influence. The community ambassadors of PlugChain provided vivid and informative explanations about the importance and future development prospects of public chain technology. They emphasized PlugChain’s unique technological advantages in the public chain space and presented the significant progress made in various ecological components like PUSD, Very5, PLUG browser, and GxSwap.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

[plugchain]

PlugChain to Present at Meta Era Summit 2023 Singapore

PlugChain has been invited to participate in the Main Meta Era Summit 2023 Web 3.0 conference. The summit will take place in Singapore on September 12, 2023, focusing on the development of Web 3.0 technology and the Metaverse. It aims to provide a platform for global advocates to exchange ideas and collaborate, driving the flourishing development of the Metaverse and Web 3.0 ecosystem.

Clearly, PlugChain’s invitation to attend highlights its significant influence and position in the public blockchain domain. As an open, efficient, and secure public blockchain, PlugChain has been dedicated to promoting innovation and application of blockchain technology. Its unique technical architecture and robust ecosystem offer developers and users a wealth of application scenarios, laying a solid foundation for realizing the vision of the Metaverse.

Since its inception, PlugChain has been dedicated to promoting the development and application of blockchain technology and has achieved significant accomplishments in the construction of its public chain ecosystem, including a series of ecosystem components such as PUSD, Very5, PLUG browser, GxSwap, and more. Additionally, the PlugChain team possesses rich experience in technology research and development, ecosystem construction, and community development, successfully establishing an efficient, secure, and open public blockchain network. Through continuous innovation and excellent performance, PlugChain has earned a good reputation in the blockchain industry.

In addition to sharing the achievements in public chain technology and ecosystem development, PlugChain will also express its positive attitude towards the future development of Web 3.0. As blockchain technology continues to evolve, the vision of Web 3.0 is gradually becoming a reality. The official team at PlugChain firmly believes that the future of the Web will be a decentralized, secure, trustworthy, open, and transparent networked world. As an essential component of Web 3.0, the Metaverse will bring users a completely new digital experience and social interaction model. PlugChain also aims to create a truly open and interconnected digital world for users, driving the development and progress of blockchain technology.

The PlugChain team looks forward to engaging with individuals from all walks of life at the Meta Era Summit, exploring together, sharing experiences, gaining inspiration, and achieving more cooperation and consensus in public chain technology and Web 3.0 ecosystem construction. In the future, PlugChain will continue to uphold the spirit of openness, collaboration, and innovation, making greater contributions to the advancement and application of blockchain technology.

Everyone who is passionate about public chain technology and the development of Web 3.0 is welcome to participate actively and join PlugChain in witnessing this historic moment!

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

Unlocking the Power of Public Blockchains: How PlugChain Outpaces the Competition on Curves?

Introduction: Throughout the Web3 domain, public blockchains have always been the most crucial infrastructure and one of the most fiercely competitive battlegrounds in the industry. When discussing the development of public chains in the past, we often pondered over who would be the true “Ethereum killer” or who could become the next “Ethereum.”

Undoubtedly, Ethereum has wielded absolute power in the public blockchain race, thanks to the ecosystem barriers formed by developers and users. However, the disappearance of numerous “Ethereum killers” made us realize that if public chains continue to confine themselves to the same development paradigm as Ethereum and merely follow in its footsteps, they will never be able to shake Ethereum’s iron throne.

As the most crucial infrastructure in the Web3 domain and one of the most fiercely competitive battlegrounds in the industry, is there still an opportunity for new public chains amidst the intense competition?

Some of them choose to rely on the Ethereum ecosystem and work hand in hand to address Ethereum’s scalability issues. Others leverage groundbreaking or disruptive technological advantages to attract Ethereum users and traffic by solving the “blockchain trilemma.” Some opt to focus on specific application ecosystems, drawing mainstream users to participate. These innovations have brought fresh vitality to the field of public blockchains.

On the other hand, PlugChain has built a high-performance cross-chain architecture, enabling it to support cross-chain Swap functionality, which is relatively simple and secure to implement. It can directly connect multiple exchange APIs within hosted accounts, achieving millisecond-level quotes without relying on external oracles with certain price delays, thereby filling the real-time cross-chain gap in the market. Moreover, PlugChain efficiently facilitates information exchange among various independent blockchains, similar to Cosmos, and it can also provide modular underlying components through nesting popular public chains like BSC, Heco, Solana, and Cosmos, supporting globally viable enterprise-level application networks.

In the future, PlugChain will take Web3.0 traffic as its entry point and achieve data input and output, as well as data governance, through cross-chain protocols, smart contracts, big data, and AI technology. This data will be transmitted to over 100 mainstream public blockchains worldwide via the ONP (Oracle Network Protocol), creating a bridge between the Web2 world and the Web3 world. Continuously expanding various DApps, it will start by serving top-quality global DeFi projects and establish a diverse application ecosystem covering various domains such as DeFi, NFT, GameFi, SocialFi, ultimately forming the PlugChain Web3.0 application system.

Conclusion: With the advancement of technology, the public blockchain race seems to be moving from “single-chain dominance” to “multiple chains thriving.” In this diversified landscape, emerging or developing new public blockchains have the space and potential to continue expanding in the public chain race. Perhaps these new public chains will flourish through mutual empowerment between technological development and ecosystem prosperity.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

Industry Report | Unveiling the 3 Major “Mysterious Veils” behind the Development of Public Chains in 2023

Abstract: Public Chains, the Cornerstone of Blockchain World Development

Introduction: Since its inception, public chains have made significant progress, attracting global attention and investment from various industries and countries. Their decentralized nature and transparent framework make them an ideal tool for facilitating secure and efficient transactions, paving the way for new business models and use cases. Additionally, the growth of the public chain market is remarkable, and it is expected to continue accelerating in the foreseeable future.

Veil 1: Market Distribution of Public Chains

Furthermore, public chains have a wide range of market applications, including financial services (enabling secure and transparent transactions, eliminating the need for intermediaries) and non-financial sectors (such as supply chain management, healthcare record management, and voting systems). Both markets benefit from the security and transparency provided by blockchain technology, resulting in more efficient and trustworthy transactions.

According to relevant data, significant growth is expected in the public chain market in the coming years, particularly in North America, the Asia-Pacific region, Europe, the United States, and China. Due to the early adoption of blockchain technology in industries such as banking, finance, healthcare, and supply chain management, the United States is expected to hold a significant market share in the public chain technology market. As emerging economies like China and India increasingly adopt blockchain technology, the growth in the Asia-Pacific region should not be overlooked. Additionally, the number of blockchain startups in Europe is steadily increasing, and there is a growing demand for blockchain solutions across various industries.

Overall, driven by the adoption of blockchain solutions across industries and an increasing awareness of the advantages of blockchain technology, the public chain technology market is expected to experience significant growth in the coming years.

Veil 2: Development Potential of Public Chains

According to market research on public chain technology, the global market size of public chains is projected to grow at a compound annual growth rate of 4.7% during the forecast period. The report also highlights that various industries, including finance, healthcare, and supply chain, are increasingly adopting blockchain technology, which is driving market growth. The report recommends enterprises to invest in research and development to enhance the security and scalability of public chain solutions, ensuring their successful implementation in the future.

On one hand, in this unprecedented digital era, public chain technology has emerged as a promising solution for secure and transparent transactions. With advancements in pseudonymous addresses, PGP encryption, cryptocurrencies, and distributed consensus, this decentralized technology has experienced significant market growth.

Pseudonymous addresses enable users to maintain privacy on the blockchain while ensuring transparency and accountability. PGP encryption adds an additional layer of security by encrypting sensitive data, preventing unauthorized access. Furthermore, mainstream cryptocurrencies like Bitcoin and Ethereum have gained widespread acceptance, providing users with a secure and efficient medium of exchange.

On the other hand, the distributed consensus mechanism within public chains eliminates the need for central authority, ensuring trust and reliability. These functionalities have not only revolutionized the financial services sector but also found applications in non-financial sectors, including supply chain management, healthcare, and voting systems.

Despite these challenges, the public chain technology market continues to demonstrate significant potential. With advancements in technology and the development of regulatory frameworks, businesses and organizations can harness the power of blockchain to streamline operations, enhance security, and drive innovation in both financial and non-financial sectors, ensuring a prosperous digital future.

Veil 3: Value Capture of Public Chains

In the previous bull market, Ethereum played a crucial role in the development of public chains. For many public chains at that time, in order to ensure a healthy ecosystem, they needed to capture value from ETH, attracting large capital migration while ensuring their ecosystem development was highly usable and comprehensive. In particular, most public chains aimed to start with DeFi and compete with ETH in terms of TPS.

If we consider an ecosystem as a small financial circle, more ecosystems will have various ecological niches. Each ecosystem occupies a unique position by building and developing according to its niche. Of course, the ecosystem development of some public chains is determined by user preference, and products that are not used by users will gradually be eliminated from the ecosystem. This naturally leads to the establishment of the ecosystem’s position and its own positioning.

The interface for capital flow from the real world to the blockchain world is currently mainly addressed by centralized exchanges (CEX), with some decentralized exchanges (DEX) attempting to solve this issue. However, it is challenging for DEX to address the onboarding of offline funds to the blockchain, as it involves the involvement of traditional institutions. Terra attempted to introduce various national currencies and stocks as a solution, although it ultimately failed with the collapse of Luna. Currently, players in this field are predominantly CEX, but the trend is undoubtedly moving towards the development of DEX. Ultimately, a combination of DEX and CEX is likely to coexist.

However, most of the on-chain DeFi is currently being competed by Layer2 solutions built on Ethereum or other public chains. Due to the limitations of Ethereum in terms of TPS and high gas fees, many low-value users have had to give up participating in gas wars and seek alternatives with lower costs. This is a natural development in the course of things. Early profit seekers will find ways to maintain their profits, while later value miners will also need to increase their own earnings. This inevitably leads to a large number of value miners migrating to other ecosystems to mine more value.

In conclusion：public chains serve as the infrastructure and underlying technology of the Web3 world. They are the foundation for DApps and the gathering place for ecosystems and communities. However, there are still many shortcomings in current public chain projects, such as high user entry barriers, high development difficulties, insufficient network throughput, gas fees, and more. The emergence of both promising and subpar projects during the startup phase exacerbates these issues. It is undeniable that many public chains will face a reshuffling moment in the near future, and only those projects that prioritize technological advancements and strive for the realization of network value can achieve long-term development.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

In-depth Analysis of RWA: The “Seam” between the Crypto World and the Traditional World

New technologies give rise to new forms of industries.

Currently, there is an increasing frequency of discussions in the market regarding RWA (Real-World Assets), and some viewpoints suggest that RWA will trigger the next bull market. Some entrepreneurs have also adjusted their focus towards RWA-related tracks, hoping to leverage the gradually heating narrative to propel rapid business growth.

What exactly is RWA?

This may sound ordinary, but let’s look at some numbers: the total value of global real estate is $360 trillion, the value of fixed-income bonds is $127 trillion, while the total market capitalization of the cryptocurrency market is only $1.18 trillion. If real-world assets gradually succeed in being tokenized, their market potential would be immeasurable.

In fact, RWA is not a new concept. Since the birth of blockchain, discussions about tokenizing real-world assets such as real estate, commodities, private equity, credit, bonds, and artwork have been common, and there have been several conceptual projects, but they haven’t made a significant impact.

Among them, BTM Bytom, which focuses on “asset on-chain,” can be considered one of the earliest RWA projects. However, being an early bird doesn’t always guarantee success. Currently, the most successful examples of RWA are digital dollars like USDT and USDC, which map the value of the U.S. dollar onto the blockchain and tokenize it. Stablecoins have subtly influenced the entire cryptocurrency industry and have become an important cornerstone.

Recently, Citigroup released a research report predicting that by 2030, there will be $4 trillion to $5 trillion in tokenized digital securities, and the trade finance transaction volume based on distributed ledger technology will reach $1 trillion.

Many traditional financial institutions and corporate giants are highly interested in RWA, making it a growing trend!

Why is RWA attracting so much attention?

At its root, the increasing demand for RWA stems from the underwhelming yields in the DeFi sector, which are failing to meet the growing profit demands of crypto users.

During the DeFi Summer period, it was well-known that the high yields of a bull market could satisfy the profit requirements of crypto investors. However, after experiencing significant market volatility and a sustained bull market, the Total Value Locked (TVL) in DeFi has decreased by over 70% from its peak in December 2021. DeFi yields have plummeted to a new low, prompting both DeFi protocols and crypto investors to seek new avenues for profit growth.

Furthermore, in the long run, RWA presents significant opportunities to bridge traditional finance and crypto finance, opening up vast realms of imagination. The real assets in traditional finance, such as real estate and non-financial corporate debt markets, represent trillion-dollar markets. If DeFi can integrate with these markets, it can provide users with greater liquidity, capital efficiency, and investment opportunities.

Moreover, traditional finance suffers from various pain points, including high entry barriers, numerous intermediaries, and restrictions. For instance, private equity funds typically require a minimum investment capital of over $500,000, while real estate investments demand substantial capital support, making it nearly impossible for average investors to enter these markets. Additionally, they face high fees from intermediaries, restrictions imposed by regulatory bodies, and risks associated with third-party systems. RWA’s design can address some of these pain points in traditional finance, thereby attracting more investors to enter the realm of DeFi.

RWA lowers the barriers between TradFi and DeFi, attracting more traditional capital into the DeFi market through tokenization. This expands the range of available assets in the DeFi market and promotes interoperability between traditional finance and the crypto industry. Simultaneously, RWA reduces the costs of financial transactions, eliminating complex intermediaries and fees. It also breaks geographical restrictions, enabling assets to circulate globally and creating a faster and simpler trading system.

How does RWA actually work?

As mentioned earlier, RWA represents the tokenization of real-world assets in the off-chain world. It is crucial to clarify how asset ownership and value are transferred between the physical and digital realms, and how RWA can be explained as a legitimate representation of real-world assets. The process of tokenizing real-world assets, or RWA, can be divided into three stages:

(1) Off-Chain Formalization (2) On-Chain Data (3) RWA Protocol Demand and Supply

(1) Off-Chain Formalization:

Representation of Economic Value: The economic value of an asset can be represented by its fair market value in traditional financial markets, recent performance data, physical condition, or any other economic indicators.

Ownership & Legitimacy of Title: The ownership of an asset can be determined through deeds, mortgages, bills of sale, or any other form of documentation that establishes legitimate ownership.

Legal Backing: In cases involving changes in asset ownership or rights, there should be a clear process for resolution, which typically includes specific legal procedures for asset liquidation, dispute resolution, and enforcement.

(2) Information Bridging

Next, the information regarding the economic value, ownership, and rights of the asset is digitized and brought onto the blockchain, stored in the distributed ledger of the blockchain.

Tokenization: After the off-chain stage of packaging, the information is digitized and represented by metadata within digital tokens. These metadata can be accessed through the blockchain, making the economic value, ownership, and rights of the asset fully transparent. Different asset categories can correspond to different DeFi protocol standards.

Oracle: For RWA, it is necessary to reference external data from the real world to accurately depict the value of the asset. For example, in the case of a stock RWA, access to the performance data of that stock is required. However, since the blockchain cannot directly fetch external data, oracle services like PlugChain are needed to bridge the on-chain data with real-world information. They provide data such as off-chain asset values to DeFi protocols.

(3) RWA Protocol Demand and Supply

DeFi protocols that focus on RWA drive the entire process of real-world asset tokenization. On the supply side, DeFi protocols oversee the formation of RWA. On the demand side, DeFi protocols facilitate investors’ demand for RWA. In this way, DeFi protocols specialized in RWA can serve as both the starting point for the formation of RWA and the market for the eventual products of RWA.

The Duality of RWA: Opportunities and Risks

It is important to note that the overall market size of real estate projects in RWA is currently very small, with challenges such as insufficient liquidity and poor transparency in mechanisms. It requires the involvement of large centralized entities to endorse and regulate these projects, as the utility tokens issued by related protocols have generally faced low acceptance in the crypto market. This is mainly due to the strict regulation that real-world assets require, as well as the complex operations needed to establish ownership of the assets.

In conclusion, the RWA space is still in its early stages and awaits gradual improvements in regulation and infrastructure. However, the narrative of RWA holds significant growth potential and may attract more traditional users into the world of DeFi and Web3 while being linked to real-world assets, thereby reshaping the landscape of the crypto market.

In conclusion,RWA offers diverse asset types and provides investors with more possibilities for diversified investments. However, improper financial regulation can potentially harm investor interests. Additionally, regulatory rules for RWA are unlikely to be established in the near future, and there is uncertainty in the regulatory environment, which requires further observation over a period of time.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

PlugChain June Monthly Report (06/01–06/30)

Dear PlugChain Community:

Hello everyone! Today we are pleased to present the monthly report for PlugChain in June. Let’s take a look at the new developments that took place during this month!

Operation

On June 3rd, PlugLabs, a subsidiary of PlugChain, announced a strategic partnership with AKIRA OX. This collaboration aims to foster development and innovation, jointly creating a more secure and reliable Web3.0 ecosystem.

On June 8th, PlugLabs, a subsidiary of PlugChain, officially reached a strategic partnership with YFiONE. Both parties will engage in deep cooperation in community, resources, technology, and ecosystem. As a public chain, PlugChain will provide technical support at the blockchain level to assist in the development of YFiONE’s DeFi ecosystem.

On June 18th, PlugChain held a Father’s Day-themed event, randomly selecting 10 lucky participants from Twitter comments to receive free PC airdrops.

On June 20th, the overall block height of PlugChain exceeded 10 million, marking its entry into a new stage.

On June 28th, PlugChain officially established a strategic partnership with .Bit, aiming to deeply expand the blockchain domain ecosystem. This partnership signifies that both parties will jointly build a business ecosystem in terms of community, incubation, technology, and ecosystem, providing further support for the development of the public chain ecosystem.

Technology

Increased transaction fees for PUSD exchanges.

2. PVM (PlugChain Virtual Machine) added support for multi-file deployment.

3. Wallet PVM token transfer updated with notification functionality.

Oracle Network Protocol

Completed the implementation of feeding data into the basic AI encryption.

Community

On June 6th, PlugChain was invited to attend the Index Catalogue 1101 (IC1101) Space X 3.0 Demo Day to share the technical highlights of the public chain and project development with the community users.

On June 27th, PlugChain was invited to participate in the Twitter Space-Web3 Builder Hub Daily hosted by Cointime to share the technology and future value of oracles with the community users.

On June 28th, to thank the Chinese community users for their ecological support, PlugChain partnered with GCLUB_WEB3 to organize a community event where lucky users could receive PlugChain official exquisite merchandise and PC airdrop rewards.

PlugChain’s official Twitter account has a tweet impression of 107.1K, a profile visit of 227K, a total of 12,396 retweets, and a reach of 295k Twitter users.

Conclusion:In conclusion, PlugChain is still steadily progressing. From the mainnet launch to surpassing 10 million block height, it has been 22 months of development. Many thanks to the global community users for their long-term companionship and support to PlugChain. In the future, PlugChain will continue to solidify every step on the path of public chain development, bringing more value to the community users!

[plugchain]

PlugChain and .bit Reach Strategic Cooperation

On June 28, 2023, PlugChain and .Bit officially announced their strategic cooperation, aiming to deeply establish a presence in the blockchain domain ecosystem. This collaboration signifies the joint efforts of both parties in building a business ecosystem encompassing community, incubation, technology, and ecology, providing more support for the development of the public chain ecosystem.

.Bit, Cross-chain Web3 identities for you and your community.A project focusing on the blockchain domain niche, was launched in July 2021. In 2022, the project successfully raised $13 million in Series A funding and has since expanded its operations to multiple mainstream public chains, including Ethereum, BNB Chain, Tron, Nervos CKB, and Polygon. In the future, .Bit plans to further expand its coverage to include other major public chains such as Ethereum, Polkadot, and Solana to meet the diverse needs of users.

As we know, blockchain domains are one of the significant applications of blockchain technology, offering many advantages and potential. By combining domain names with blockchain technology, decentralization, immutability, and prevention of DNS hijacking can be achieved, providing more secure and trustworthy domain name resolution services. The collaboration between PlugChain and .Bit will further drive innovation and development in this field.

In addition to technical cooperation, PlugChain and .Bit will also strengthen their collaboration in terms of ecological community and incubation, providing investment and incubation opportunities for promising blockchain domain projects. Through joint investment and support for promising projects, both parties will contribute to the growth and maturity of the blockchain domain industry.

In conclusion, this cooperation holds significant importance for PlugChain and .Bit . The collaboration will facilitate the inclusion of more high-quality domains onto the PlugChain blockchain, further enhancing the integrity of the public chain ecosystem. Additionally, as a pioneer in public chain technology, PlugChain, through its cooperation with .Bit , will promote the development and application of blockchain domain technology, providing users with more secure and reliable Web3 ecosystem services.

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas！

Website: https://plugchain.io Twitter: https://twitter.com/Plugchainclub @Plugchainclub Telegram: https://t.me/plugchain Discord: https://discord.gg/GdpPzUt89E Youtube: https://www.youtube.com/channel/UCW4s0YFA7y1qYis1eW3Wcog Medium: https://officialplugchain.medium.com/ NFT Market：https://very5.com/

GitHub:https://github.com/oracleNetworkProtocol/plugchain Official Email：officialplugchain@gmail.com

#PlugChain #Pando #Very5 #Gxswap #Oracle #prc20 #web3

[plugchain]

Congratulations to PlugChain for achieving the remarkable milestone of surpassing 10,000,000 blocks in the blockchain height.

PlugChain block height has exceeded 10,000,000！

Thank you for all your efforts and contributions to this network and community.

Let us look forward to more exciting milestones in the future!

About “block height”: “Block height” refers to the numerical identifier of a block. To illustrate with an example of a ledger, suppose we have a ledger with 100 pages, and we want to view the contents of page 50. In this case, the “block height” of that page would be 50. Therefore, “block height” serves as the latitude and longitude of the blockchain, providing a coordinate for each block. By using block height, we can accurately describe the position of a block on the chain.

It is important to note that the Bitcoin wiki describes the genesis block as follows: “A genesis block is the first block of a block chain. Modern versions of Bitcoin number it as block 0, though very early versions counted it as block 1.” This means that in modern versions, the genesis block of Bitcoin is assigned a block height of 0 (although it was initially counted as block 1 in early versions).

[plugchain]

Deconstructing the Value of Oracle: The Trust Machine in the Web3.0 World

The Essence of Oracles: Providing Solutions for Data Trust in Web3.0.

Introduction: Oracles have proven to be indispensable in various domains such as insurance, finance, random prediction, and the Internet of Things. As an extension of blockchain, oracles serve as trusted bridges between on-chain and off-chain worlds, enabling the integration of value ecosystems. In the narrative of Web3.0, oracles will continue to play a key role in addressing data trust issues.

The term ���oracle” originates from the Latin word “oraculum,” meaning a divine pronouncement or prophecy. In the context of computing, the concept of an oracle was first introduced by Alan Turing, the father of computer science. Turing incorporated an entity called the “oracle” into his theoretical Turing Machine, forming the concept of an “Oracle Machine.” The oracle, in this context, refers to an entity that can answer a specific set of questions, providing information to assist the Turing Machine in its computations.

In the theory of computability, Turing machines are also associated with the “halting problem.” This refers to the problem of determining, given a description of an arbitrary computer program and an input, whether the program will eventually stop or continue running indefinitely. In a fixed Turing-complete computational model, the role of an oracle is to determine whether a program will halt when executed on certain given inputs.

In cryptography, the concept of an “oracle” can be found in the concept of a “random oracle.” Setting up a “random oracle” involves granting access to a random oracle to all parties, regardless of their trustworthiness, to ensure the true randomness of cryptographic hash functions. Without an oracle, users would rely on local mathematical functions with weak entropy, which is not suitable for strong encryption. Through the responses of the oracle, users can determine if the messages it outputs are secure enough.

n summary, Oracle has been a core concept in theoretical and applied computer science from the beginning, although it is modeled and applied in different ways depending on the assumptions made and the level of reliability or trustworthiness required.

Today, similar discussions are taking place in the field of blockchain. Smart contracts often require access to information from the outside world that is relevant to the contract’s protocols, triggering state changes on the blockchain. Essentially, blockchain oracles can be understood as middleware for data calls and access. They address two types of questions: “yes or no” questions and “how much” questions, enabling smart contracts to interact with external data.

When smart contracts are involved as part of cryptocurrencies, transactions are authorized through consensus among participants in a distributed network, ensuring transparency and minimizing opportunities for fraud. The information sent to smart contracts for executing programmable transactions is provided by the blockchain network itself.

However, the challenge lies in establishing a connection between smart contracts and the external world in order to expand the application scenarios of smart contracts. This involves bringing a wide variety of external data inputs into the “virtual environment” and ensuring the trustworthiness of the data sources.

Similarly, in terms of investment opportunities, although Chainlink currently dominates the oracle space, especially in traditional DeFi where data feeding is the main functionality, there may still be competition for the second position in the remaining approximately 10% of the market. Moreover, there are notable innovative protocols and narratives emerging in niche areas of oracles, such as cross-chain, Layer 2, credit, NFT, DID, and others, which are worth paying attention to.

In general, oracles, as independent modules or third-party services in blockchain, interact with execution engines and are responsible for obtaining trustworthy data. They do not directly participate in the execution of transactions.

When smart contracts are involved in cryptocurrencies, transactions are authorized through consensus among participants in the distributed network, ensuring transparency and minimizing opportunities for fraud. Additionally, the information sent to smart contracts to execute programmed transactions is provided by the blockchain network itself.

Therefore, many oracle projects focus on constraints such as data source authentication, standard data retrieval processes, and unified data formats during the design process. They also ensure the security of data during transmission and processing through the use of HTTPS protocol (underlying TLS protocol) and trusted execution environment (TEE) technology.

In addition, compared to on-chain data interactions, off-chain data interactions pose challenges in terms of data source reliability, oracle reliability, and processing complexity. The level of trustworthiness in real-world scenarios significantly affects the efficiency and cost of oracle implementation. In public blockchains, where multiple parties are generally untrusted, a multi-oracle model is used to achieve aggregation processing, consensus rules, reward and punishment mechanisms, and reputation systems to increase the cost of malicious behavior. This undoubtedly adds complexity to the implementation of functionalities. In consortium blockchain scenarios, oracle use cases are relatively closed and the trust level among institutional nodes is high. In such cases, a single oracle provides high efficiency and low cost but may face the issue of single point of failure.

When evaluating the quality of an oracle, it is important to consider its application scenario. Oracles on public blockchains and consortium blockchains have their own strengths and weaknesses.

Decentralized oracle

Decentralized oracle mechanisms are often necessary to obtain more trusted data. A single centralized node in the oracle introduces a single point of failure, as the node can be compromised or go offline. This goes against the purpose of using a blockchain network composed of thousands of nodes. Additionally, the oracle mechanism should not rely on a single data source, as that source may provide incorrect data or become unavailable.

Instead, the oracle mechanism must be decentralized at both the node operator and data source levels to ensure there are no single points of failure. While blockchains and oracles have different objectives (blockchains provide transaction consensus, while oracles provide consensus on real-world data), their complementarity implies that similar approaches must be taken to achieve security.

Taking PlugChain as an example, it establishes a decentralized data network where each oracle serves as a node within the network. The architecture of PlugChain consists of on-chain components and off-chain components. The on-chain components are responsible for interacting with users, collecting and responding to user requests, while the off-chain components form the data network mentioned earlier, which handles data retrieval and transmission. Being a decentralized and distributed data network, PlugChain can avoid the issue of a single point of failure.

It is worth noting that PlugChain has demonstrated excellent performance in cross-chain capabilities. It is capable of operating on over 100 compatible blockchain networks, including Ethereum, Polygon, BSC, Cosmos, Polkadot, Solana, and plans to expand access to more blockchains and second-layer solutions such as Arbitrum, Optimism, zksync, and others. In addition to providing efficient cross-chain aggregation capabilities, PlugChain also offers a wide range of secure on-chain AI computing services to extend the data value of blockchain to various ecological scenarios and meet the needs of its users.

In summary, PlugChain not only expands the capabilities of blockchain networks and smart contract applications through decentralized oracle networks (DONs), but also provides data “singularity” for future diverse application scenarios through on-chain AI and cross-chain capabilities.

Conclusion: Trust is undoubtedly the primary value proposition of blockchain and smart contracts. Oracles provide a means for blockchain protocols to communicate beyond their own networks, thus expanding the scope of blockchain protocols and bringing a fresh driving force to the global digitalization movement.