SimpleChain wins best Blockchain Industry Application Award at Davos 2019

At the World Economic Forum in Davos, the "2019 Global Blockchain Summit" Simplechain won “2018 Best Blockchain Industry Application Award” which aims to gather more blockchain developers, explore the combination of various industries with the blockchain technology, and promote the continued innovation of blockchain applications.

The China Blockchain Application Center established the award. The expert committee consists of blockchain application users, government authorities and academic researchers.

Sheila Warren, head of the blockchain of the World Economic Forum, believes that blockchain technology is the foundation of the fourth industrial revolution. “We see the blockchain as a fundamental technology. When scalability is achieved, decentralization can increase equal opportunities and address personal autonomy in terms of data in a more humane way,” Sheila Warren said.

SimpleChain is a public chain with a design goal to build a simple, usable and easy-to-use distributed chain net that truly promotes the formation of a distributed digital economy. The most notable feature of SimpleChain is the double-layered structure. Its main chain’s underlying consensus has been set as the Proof of Work with innovative algorithm. The primary goal for the main chain is to secure the unification and finality of distributed ledger data. Moreover, the flexibility could be provided by a second layer on top of the Main Chain, which is called Sub Chain. Meanwhile, the Sub Chain is customizable for any specific consensus algorithm for applications. As a Sub Chain, apart from the blockchain head, transaction data structure is also flexible in different cases to maximize the compatibility of the SimpleChain.

"We hope that simplifying the procedure will bring different services and experiences for the blockchain ecology," said Leo Yu, core member of the SimpleChain Foundation.

Recently Simplechain launched its beta version