JumboChain: At a Glance
Blockchain technology has been around for more than a decade and has gained a reputation for being a secure and transparent way of recording transactions. Jumbochain takes this a step further by introducing a new consensus mechanism that is energy-efficient and scalable, making it an excellent option for enterprise-level applications. Another crucial feature of Jumbochain is this project adheres to the ESG guidelines and aims to create a sustainable blockchain ecosystem.
Introduction
Jumbochain aims to minimize storage and computing needs to reduce the carbon footprint and follow the UN’s SDG goals. We use an innovative, patentable consensus technique, which makes it scalable and adaptable to industry-specific solutions. We use dynamic Sharding to reduce storage requirements, lowering costs and transaction fees. We also encourage NFT minting and trading to generate value for users and community members.
Let us see the features of Jumbochain.
Features of Jumbochain:
Due to the reduced storage and computational requirements, Jumbochain aims to reduce the carbon footprint to more than 50% drastically. This feature adheres to the UN’s SDG goals and makes efforts to minimize carbon footprints.
Jumbochain aims to lead the blockchain revolution and adds value to the industry with its scalability and industry-specific solutions. The customized solutions will combine public and private/institutional validator nodes. To achieve this aim, Jumbochain integrates with other new-age technologies like AI/ML and provides an easy-to-use platform for users.
Jumbochain uses Dynamic Sharding for data storage, meaning complete data is unavailable on all nodes, resulting in lower storage space requirements. It uses parameters like a stake, uptime, capacity, sustainability score & node utilization.
The validator nodes will only store complete transactional data of the validated transactions; the rest will only store the transaction hashes. Due to low storage requirements, the transaction fees is also low. Hence Jumbochain is a cost-effective option for its users.
Jumbochain also supports NFT minting & trading to help organizations work on NFTs to create value for the users and the community. Jumbochain is also working on plans to launch NFTs for paintings made by underprivileged artists to support them lifelong for their creations.
To minimize the threat of Cartilization, Jumbochain has developed a concept of randomization that will not let the nodes cartelize as, at any time, the ecosystem will randomly select the validator nodes using the code itself without any manual intervention.
Security and Integrity
The unique consensus mechanism of Jumbochain ensures the random selection of validator nodes based on uptime and node utilization apart from stakes/sustainability score/capacity.
Jumbochain selects participating nodes after every 15 minutes, which automatically rotates out of the pool, and new nodes will be selected. Nodes with low utilization are ranked higher in order to ensure the entire pool is utilized and included in the selection process.This feature rules out the possibility of cartelization as the participating nodes cannot identify which validator node will be chosen, as the randomization will happen automatically.
Cross Chain Compatibility
Jumbochain is built to provide cross-chain compatibility as the JRC20 standard will be compatible with other chain tokens like BEP20, ERC20, and CBDCs. Users can hold the other chain token on Jumbochain, which they can use for trading on platforms supported by Jumbochain.
Users can easily link their centralized wallets like Metamask/ Trustwallet to Jumbochain, easing out Token transfers from other chains to Jumbochain.
The unique, rewarding mechanism and the features of Jumbochain, like transaction speed/ low fee, will be the advantages of moving the other chain tokens to JRC20.
The easy-to-implement RPC protocols of Jumbochain also help the dApps, like exchanges, to move to Jumbochain quickly and easily and help their customers with the lowest gas fee and #NFT capabilities.
ESG Compliance
With the rise in popularity of #blockchain tech, industry experts are also concerned about its #environmental, #social, and governance (ESG) impact. ESG compliance in blockchain projects is becoming increasingly important.
Jumbochain care for mother earth. We adhere to the UN’s SDG goals and follow guidelines for #ESG compliance.
Jumbochain uses Dynamic Sharding to lower the storage requirement, ultimately reducing the cost and transaction fees. This initiative will reduce the carbon footprint by more than 50%.
We also support #NFT minting and trade to create value for users and community members. We integrate #environmental, social, and #governance factors into a company’s operations and decision-making processes.
The step, as mentioned earlier, also resulted in a user-centric solution for the validators with low transaction fees and better security features.
About the Author:
JumboBlockchain is the layer 1 blockchain protocol with three patents applied.
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Linktree: https://linktr.ee/Jumbochain
