Introduction
What is SCS Chain
SCS Chain is an infrastructure that helps developers and operators build and operate their blockchain services as an internal value system, serving a large number of users. The primary mission of SCS Chain is to enable developers of any project to deploy their own blockchain using its unique specifications. Sidechains are lightweight frameworks on which simple but practical blockchain projects can be built. Developers and teams can create simple blockchains with their own business rules and economies.
Key Features
- Highly scalable and low-cost
100% compatible with EVM, low cost, and easy-to-deploy developer API.
- Support from SuperEx
Seamless integration with SuperEx products.
- Security
Provides reliable smart contract auditing services to further realize the vision of building a trustless ecosystem.
Proof of Authority (PoA)
PoA was proposed by Gavin Wood, co-founder of Ethereum and former CTO, in 2017. Validators do not stake tokens. Instead, they have to put their reputation on the line for the right to validate blocks. This is significantly different from most blockchain protocols where participation does not typically require revealing your identity. SCS Chain uses Proof of Authority (PoA) as its consensus mechanism, ensuring security, stability, and finality of transactions and blocks by approved validators. It enables higher transaction throughput per second while requiring fewer computational resources. PoA provides defense against 51% attacks and improves efficiency and tolerance to certain levels of Byzantine players. Therefore, it is a robust choice for the fundamental layer. PoA allows for non-continuous block approvals by any validator, with authoritative nodes taking the risk of severe damage. This incentivizes selected validators to maintain a good reputation in the transaction process. The consensus protocol of SCS Chain achieves the following objectives:
- Short blocking time of 3 seconds on the mainnet Approximately
- 3-second final confirmation deadline for transactions
- No native token inflation: SCS has a total supply of 1 billion, with block rewards only collected from transaction fees
- 100% compatible with the Ethereum system
Economic Model
Burn Mechanism
The total supply of SCS Chain is 1 billion. A detailed schedule, process, and operation will be announced prior to the launch of the mainnet.
Reward Mechanism
On SCS Chain, PoA is the consensus mechanism that determines transaction finality through validators instead of miners. This eliminates any reward or punishment for honest or dishonest behavior, leaving almost no room for manipulation by miners or validators.
SCS Token
SCS is the cryptocurrency that powers the SCS Chain ecosystem. You can trade SCS like any other cryptocurrency, and you can also use SCS in a wide range of applications and use cases. SCS was initially an ERC-20 token on the Ethereum network and can be bridged to SCS Chain on a 1:1 basis. SCS is also the native token of SCS Chain.
Roadmap
The goal of SCS Chain is to provide state-of-the-art infrastructure to support the widespread adoption of web3 applications and explore unforeseen innovations in blockchain development. Let's start from the basics, take solid small steps, and build SCS Chain together!
1.0.0 2023-Q2
Testnet launch
Mainnet launch
Ethereum sidechain
Block explorer
1.2.0 2023-Q4
Cross-chain bridge
Decentralized identity (DID)
Decentralized exchange (DEX)