Technology of Distributed Credit Chain

DCC operates an open platform. In this post, the concentration will be on its technology.

The platform supports development of DApps. At the initial stage, this development will be centralized. The platform’s foundation will be in charge of reviewing DApps. It encourages third-parties submit applications for DApps development. This will pass the review process before its release.

Addresses can be created using DApps. DApps on DCC are grouped into two. The platform develops Universal Dapps and third-parties can come up with theirs as well. The universal DApp compares existing price quotations. It then stands in the gap of issuing users amazing rates on their credits.

Digital Wallet

DCC has a digital wallet that is compliant with Ethereum standards. The wallet securely holds users’ funds. DCC’s digital wallet has public-private keys. These keys are gotten by employing the use of elliptic curve algorithm.

Every digital wallet is designed to secure the account and funds of the user. The wallet we have here follows same pattern. There are three security steps here: the address, public and private keys. The latter allows the user generate random passwords. The public key then partners with it to generate an address.

DCC uses the elliptic curve algorithm for its wallet. The algorithm is popular for its scalability and transparency.

Open Platform

DCC is open-sourced making it open for its users. Transactions are transparent. On the platform, DCC integrated a market and data provider. DCCmarket contract is the propeller for its market. Participating platforms analyze and release available information to the market. While this makes information transmission better, users can make informed decision on which service to opt for.

Gateway Service

The platform is transparent and considerations are made for other users. As a user, if you find it hard gaining entry to the platform from its RPC, you can use this platform. DCC’s gateway service is alternate entry point to the platform. If you want to reduce time spent on RPC, you can access the platform from its open API made available on this gateway.

DCC’s Chain

The platform is well-patterned. The earliest chain will be the consortium chain. It will function as a testnet of the platforms chain. Later on, it becomes a public chain. As a consortium chain, DCC will accept node tenders from businesses. Billing and non-billing nodes will be present for this.

The billing node will be deployed in authenticating nodes on DCC. Third-parties can apply for non-billing nodes. Third-parties can become billing nodes when they meet the platform’s conditions. The platform has to confirm that such institutions are stable in the market before granting them billing permissions.

Consensus Algorithm

The platform uses an entirely different algorithm. PBFT is the official consensus algorithm for this project. The algorithm is very useful. Security is top-notch. PBFT creates additional chains in the shortest time. Mining can therefore be quick and the platform scalable. Nodes haven reached agreement can create individual blocks. There will be no additional cost for doing this.

Bottom Line

DCC will perform better in areas it is applied. The ecosystem is vibrant. Additional features such as consensus algorithm and its technology exports the platform to higher standards.