BFIC Mainnet, Next-Generation Network Based on the Blockchain 3.0 Technology
Innovation Factory is a financial solutions provider that is efficient and inventive. The company is working on complete financial protocols and ecosystems that will determine the future of digital finance and the economy. BFIC Mainnet is one of their many ingenious projects. BFIC Mainnet, based on Blockchain 3.0 Technology, comes with unique and impactful features. It is made with the vision to revolutionize the cryptocurrency market.
DeFi systems and cryptocurrencies such as Bitcoin, Ethereum, ADA Cardano, and others have existed on both previous generations of Blockchain. However, there was always room for improvement in terms of scalability and security. Even with various cryptocurrencies resolving scalability and security concerns, the most pressing issue remained unsolved: developing a cryptocurrency with large-scale usefulness that fosters the development of a decentralized financial-economic system. Innovation Factory was quick to realize this flaw and get to work immediately. They created BFIC Mainnet by combing the features of Bitcoin, Ethereum, and Tron. As a result, a new method was devised for blockchain calculations that use both Bitcoin and PoS algorithms.
Triple-Layered Architectural Structure
The BFIC blockchain is a TRON fork to provide great performance and scalability. The BFIC platform is made up of an ecosystem of components that may be separated into three tiers. Each layer serves as a support for the layer above it. This is accomplished on the BFIC main network using software protocols that connect between levels via APIs (Application Programming Interfaces).
1. Application Layer — Wallets, Smart Contracts, Dapps
These are the applications that operate on top of the BFIC Platform. The code is written in DApps (Distributed Applications), digital wallets, or smart contracts, and it uses RPCs (Remote Procedure Calls) to communicate with the other levels. The BFIC Virtual Machine (SVM) executes code on nodes all over the network.
2. Core Layer — Nodes — Light, Common, Master, Super Representative
The network’s consensus mechanism and a unique Delegated Proof-of-Stake (dPoS) to meet the network’s demands are handled by the Core layer. It is called BFIC Consensus Mechanism (SXCM). Using a delegated payment protocol (dPoS) reduces energy usage while enhancing efficiency and transaction speeds. Blocks are validated and uploaded to the blockchain at this stratum.
3. Network Layer — Internet, Blockchain State, Storage
TCP/IP is used in the platform’s supporting layer (Internet). The nodes and storage devices also save a copy of the blockchain data and its state here. Any modifications made to the blockchain state by the APPLICATION and authorized by CONSENSUS are propagated throughout the network. The blockchain itself is based on memory that is shared across the network. It has a persistent TCP/IP connection to the Internet. As part of the consensus mechanism, all nodes can communicate and discover each other through the network and execute their respective duties.
Future of BFIC Mainnet
BFIC Mainnet is taking on the edge by providing responsive scalability, ultimate immunity, triple-layered architecture, and lighting fast speed. All these factors play a major role in determining the success of BFIC Mainnet.
BFICoin is a high utility coin that is supported by BFIC Mainnet. BFIC Mainnet is also incorporated in the ecosystem consisting of various projects such as NFT games, Custom Investment Plan, Insured Investment, Crypto Bond, Decentralized Exchange, Stake-mining platform, and much more.
The ecosystem in return acts as a BFIC utility enhancer. Through these various projects, BFIC will be utilized in the real world to gain day-to-day advantages as well as long-term incentives. BFIC is designed to last and sustain the trails of time. Hence, the BFIC Mainnet, a third-generation marvel by Innovation Factory, will prove its worth and will also enable developers to utilize the technology to build their projects on top.
Most of the ecosystem projects are at their final stage of completion. This ecosystem will be fully operational by the fourth quarter of 2022, according to the roadmap. In the long run, BFIC Mainnet aims to float BFIC on the New York Exchange by 2026.
Originally published at https://www.guestproindex.com on November 11, 2021.
