SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to enable a variety of applications and use cases on blockchain. Sharding is also implemented to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.
The mission of SimpleChain is to simplify the blockchain for business.
Built on VeraxChain, SimpleChain’s first sub-chain, Baoquan.com provides record keeping services which serves to keep records of online data and authenticate electronic evidence. In June 2018, Hangzhou Internet Court of China judged a case of copyright dispute based on data stored on Baoquan.com. For the first time in China, the legal effect of the electronic data stored on blockchain is recognized in the judicial system.
Algorithm: Scrypt (With modifications)
Block Time: 12 seconds
Block Reward: 20 SIPC
Foundation Reward: 5% of Block Reward
Block Reward Halving Schedule: Every 1 year
Total Supply: Initial supply is 100 million. More tokens will be issues as more sub-chains join the ecosystem. Issuing algorithms please see our whitepaper.
Circulating Supply: Around 40 million (December 2019)
Blockchain Explorer: www.explorer.simplechain.com/