Place/Date: Thailand - March 17th, 2018 at 7:03 pm UTC · 3 min read
Contact: David Gillbanks, Source: Plaza.systems
Plaza Systems’ MerchantChain™ plans to raise up to 100,000 ETH during its token generation event to fully develop and take to market an e-commerce-specific blockchain dubbed the MerchantChain and a suite of familiar consumer touch points that interact with it, including AI-assisted mobile and desktop applications, a smart speaker, and a debit card. It’s a Total bCommerce solution.
At the heart of Plaza Systems’ Total bCommerce™ (blockchain commerce) solution, the MerchantChain is the fastest, most scalable and most future-proof commerce-specific blockchain on the planet.
Any seller can build decentralised applications on top of the MerchantChain to leverage its speed and efficiency and to tap its loyal Freedom Lifestyle™ user base.
Merchants can even mint their own MerchantChain Transaction Coin (MTC); a coin tethered to real-world value (not market sentiment); a currency designed for spending (not holding); and a consumer-friendly crypto with only two decimal places (not 18).
The MerchantChain is based on Singapore-based SQ2 Fintech’s proprietary DLT AURA™.
SQ2 CTO and Plaza Technology Director Ronald Aai said:
“We have attempted to address fundamental problems with cryptocurrencies and blockchain and we believe we have succeeded in this mission.”
CEO & Chief Architect Kevin Johnson said:
“The MerchantChain is the Ethereum for anyone who is serious about conducting business, trade, and commerce on the blockchain.”
The MerchantChain can handle more than 15,000 transactions per second (tps) in parallel ALL of which take three seconds or less to resolve. The practical usefulness of the MerchantChain is retained during even the highest-volume scenarios.
MerchantChain’s proof-of-reputation (POR) algorithm rewards nodes using a mixture of response time, influence (number of connections), and stake (number of transactions), as well as a healthy dose of randomness. The upshot is that the MerchantChain ledger is maintained by ultra-low-powered IOT (internet of things) devices rather than energy-sucking processing rigs.
The ability to stamp out fraud and other illegal activities is an oft-overlooked aspect of sustainability. All buyers and sellers on the MerchantChain must possess the AURA SSL (Secure Socket Layer) Certificate, preventing fraud and instilling trust in the ecosystem
Built into the MerchantChain model is a strong positive correlation between transaction volume, user numbers, and the deployment of nodes. Correlation corresponds to causation in this case as more volume and users lead to the purchase of more IOT devices, such as the PlazaConcierge™ smart speaker.
Sustainability and scalability both have massive implications for the future of the MerchantChain, but so does the emergence of technologies that could threaten its very existence, such as quantum computing. Fortunately, the MerchantChain is quantum-proof for the foreseeable future thanks to its proof-of-reputation algorithm.
For more about speed, sustainability, scalability, security, and the future, read here.
The PLAZA presale will take place March 15–April 12.
The PLAZA token sale will take place April 26–June 7.
Minimum purchase throughout the TGE is 0.25 ETH.
Disclaimer: Plaza.systems is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest