In recent years, benefiting from the rapid development of information technology in the digital age, the scale of the global digital economy has continued to expand. The emergence of the new crown epidemic has made global economic growth sluggish. However, even under the situation of insufficient development momentum in emerging economies, the digital economy is still in a stage of rapid growth, setting off a wave of global digital economy and contributing to the restoration of the global economy to its original level. Great power.
Under the development trend of this era, BFChain uses digital technology as its core strength and the information Internet as an important carrier to deeply integrate the new generation of digital technology with the real economy, aiming to improve the digitalization of the global economy and accelerate the construction of a new economy based on the Internet. form, promoting the digital transformation of the global financial market and bringing safe and convenient financial services to the world.
What is BFChain?
BFChain is an underlying infrastructure independently developed by the BTCFISH team. Its vision is to create a comprehensive Web3 public chain platform to provide underlying infrastructure services for application ecological construction. As a new public chain network in the post-Defi era, the BFC chain uses a new type of smart contract to meet the current mainstream DAPP development needs through design principles such as compatibility design, modular design ideas, security strategies, and usability strategies. There are great guarantees for security and multiple privacy protections.
BFChain’s rich ecosystem:
Decentralized application (DApp): BFChain can provide infrastructure for decentralized applications, such as decentralized exchanges, decentralized identity verification, decentralized voting, etc.
Games: Developers can use smart contracts to implement decentralized games and use BFC tokens as game currency.
Asset tokenization: BFChain can help tokenize various assets, such as real estate, stocks, metals, etc., so that they can be traded on the blockchain.
Supply chain management: BFChain can be used to implement supply chain management to improve transparency and efficiency, and help companies better monitor and manage supply chains.
Financial services: BFChain can support financial services, such as decentralized loans, insurance, etc., to achieve efficient, safe, and transparent financial services.
Overall, BFChain is a very flexible blockchain with broad application prospects and can support many different types of decentralized applications.
BFChain’s innovative advantages
In addition to the advantages of fast speed and large storage capacity, compared with other mainstream public chains, BFChain has four innovations:
1) Change account model
BFChain has abandoned the contract account, and any account can be used to deploy smart contracts, and the deployed smart contracts will be stored under the current account. By improving the state storage mechanism in the contract programming language, it is easier for developers of smart contracts to disperse and save the state of the contract to the user address to which the state belongs, thereby clarifying the ownership of the state. This innovation strengthens the ability to secure user state and opens up the possibility of state billing.
2) Multiple data verification mechanisms
BFChain provides four levels of data verification mechanism, including transaction verifiable, state verifiable, block verifiable and chain verifiable. In the future, these mechanisms can also use the advantages of data legitimacy to develop more businesses, such as cross-chain data interactive verification, which brings more possibilities for the development of BFChain.
3) Use the MOVE smart contract language
MOVE is a programming language inspired by linear logic, with its own semantics and support for smart contracts. Compared with Solidity, the MOVE language uses a bottom-up static type system, supports formal verification, and has stricter logical constraints. Developers can check out most of the loopholes through the compiler before the code is deployed, which lowers the threshold for developers and enhances the security of the contract.
4) On-chain Governance DAO
BFChain has a built-in DAO contract in the smart contract, and BFChain realizes on-chain governance through proposal voting. Any participant in the BFChain ecosystem can initiate proposals and support voting for any type of token. After the proposal is voted through, the content of the proposal will be publicized again and can be submitted by any system participant for execution, thus ensuring the fairness, justice and openness of the entire governance process. This means that anyone in the community, including ordinary users like you and me, can participate in the ecological governance of BFChain and contribute to the development of BFChain.
5) Upgrade ability
BFChain is a sustainable upgrade blockchain system, and the team will regularly update and iterate the underlying architecture to adapt to new needs and technological developments.
BFC Ecological Token
BFC is the native token of the BFChain public chain and the only circulating token in the entire ecosystem. Its main uses include:
1) Circulation of the whole game scene
BFC can be circulated in the GameFi ecosystem based on BFChain. Any chain interaction in these GameFi ecosystems requires the use of BFC, such as NFT purchases, handling fees, and on-chain transactions.
2) Used to pay transaction fees
When the state billing mechanism is enabled, it is used to pay various handling fees generated by on-chain interactions.
3) For on-chain governance voting
With the development of BFChain, BFC will be used more and more, such as as an equity token. At the same time, the total circulation of BFC is constant (the total amount is 1.3 billion). When the BFChain ecology becomes more and more mature, holding BFC may also become a value saving method like holding ETH.
Ecological Outlook of BFChain
The ecology of BFChain is still in the initial construction, and the application ecology that will be launched soon includes: decentralized multi-chain wallet, traffic aggregation platform that aggregates GameFi, DeFi, and SocialFi concepts, and decentralized cross-chain exchange. With the continuous development of the ecology, more Dapp ecology will be built based on BFChain. It is worth mentioning that there are already (including but not limited to) stablecoins, swaps, cross-chain bridges, NFTs and Metaverse project teams planning to develop and deploy on BFChain.
Judging from the innovation and optimization that BFChain possesses now, BFChain will occupy a unique place among the major public chains, and will show its unique advantages after more BFChain use cases appear.
If blockchain is a decentralized computer network, and smart contracts are decentralized applications, then BFChain can be understood as a decentralized Internet, allowing smart contracts to interact with the off-chain world while maintaining blockchain The core values of chain technology in terms of security, transparency and trust. As the Internet era is about to pass, the Web 3 era is coming. As a rookie in the Web 3 public chain, BFChain’s ecological token BFC’s value will surely gain more and more recognition from the market over time.