Paint FORMULAS anywhere anytime
Mainnet launch date will be announced here!
Paint FORMULAS anywhere anytime
Mainnet launch date will be announced here!
staking and use detail
PaintChain staking the same as ETH 2.0 staking
PaintChain staking the same as ETH 2.0 staking
PaintChain staking the same as ETH 2.0 staking
Just like staking ETH 2.0, holding a certain amount of PaintChain tokens (PTC) to participate in the network and obtain a reward in return will be available to anyone, anywhere, anytime.
The process of staking involves locking up an amount of PTC cryptocurrency in a wallet to participate in the operation of PTC in return for rewards. Theoretically, anyone can participate in staking on any blockchain operating a proof-of stake consensus. Proof-of-stake has several variations, which also allow people to participate in staking.
The PaintChain core development team in Shanghai China is currently working on a significant upgrade, which is dubbed proof-of stake. It involves re-engineering the entire platform kust like the new Ethereum platform, effectively launching a new, more scalable version. The implementation is due to start in the summer of 2021 and will most likely run for another year or two until all three phases are complete. Part of the PaintChain implementation involves reworking just like the Ethereum protocal from a proof-of-work to a proof-of-stake consensus.
How does staking work on PaintChain?
PaintChain staking the same as ETH 2.0 staking
PaintChain staking the same as ETH 2.0 staking
Just as with most other platforms, lock, load and wait.
Staking on PaintChain will be fairly straightforward. There will be a minimum threshold of 1000 PTC required to participate in staking, and validators will need to be running a validator node. This doesn’t need to be specialist machinery and could be done on a consumer-grade computer or laptop. However, validators will be expected to be online consistently or face minor penalties.
The rate of return for staking PTC is expected to be 5%-10%. A program called “slashing” (same one used with Etherium ) will apply to any validator acting maliciously toward the network by taking a portion of the validator’s stake.
What are the benefits of staking?
PaintChain staking the same as ETH 2.0 staking
PaintChain is partnered with Shanghai Tower Chain Network Technology Co
Passive income vs. vulnerability to changes in the market.
The most obvious benefit of staking is the opportunity to generate income from holding crypto. Staking also provides an opportunity to be an active participant in the PaintChain blockchain project.
However, by staking, users lock up their PTC holdings for a defined period. This means that if there’s a sudden market crash, they won’t be able to pull their PTC out of the staking program to sell and mitigate any losses.
Even in the event of a smaller market downturn, the value of rewards may not cover the reduction in the value of the PTC. In line with general advice for crypto users, all private keys must be kept secure and never shared with other people or entities.
PaintChain is partnered with Shanghai Tower Chain Network Technology Co
PaintChain is partnered with Shanghai Tower Chain Network Technology Co
PaintChain is partnered with Shanghai Tower Chain Network Technology Co
Blockchain technology developer Shanghai Tower Chain Network Technology Co has raised $916,000USD in its angel round of private funding for PaintChain by various partnerships and will use the proceeds for product development, upgrades and, online marketing.
The main investors that participated in the funding include Guize Asset, Taoshi Capital and Glassprimer Industries, a leader in specialty paint and coating development.
Shanghai Tower Chain Network uses Etherium 2.0 protocol combined with self-developed blockchain and distributed ledger technologies to provide digital asset registration and settlement services for companies and social groups while ensuring that business data for formulas are trusted and secure. The company has achieved connections of data with a number of online industry paint formula database platforms and will use oracles to interlink them to blockchain.
Blockchain is a type of distributed ledger technology that can help achieve information exchanges and value and business transfers among multiple entities, thus helping them cut collaboration costs and improve efficiency with never having lost or altered formulas.
Yan Xiangxiang, founder of Shanghai Tower Chai Network, who worked for China UnionPay Co. for many years, is very familiar with financial infrastructure and products like PaintChain. "Distributed ledger enjoys great prospects. However, a trusted enforcement agency has not emerged yet in the era of data. We already have a blockchain service network that covers various public clouds and regions and is powerful enough to support all paint formula databases and other sources of data growth over the next two years and beyond," he said.
PaintChain and Blockchain AI rollout
PaintChain is partnered with Shanghai Tower Chain Network Technology Co
PaintChain and Blockchain AI rollout
PaintChain is planned to interlink with AI blockchain protocals as they roll out over the next several years. AI can automate formula input and directories on chain without any trusted party involved. AI can boost blockchain efficiency far better than humans, or even standard computing can. A look at the way in which blockchains are currently run on standard computers proves this with a lot of processing power needed to perform even basic tasks. If you were to operate a blockchain, with all its encrypted data, on a computer you’d need large amounts of processing power. The hashing algorithms used to mine Bitcoin blocks, for example, take a “brute force” approach – which consists in systematically enumerating all possible candidates for the solution and checking whether each candidate satisfies the problem’s statement before verifying a transaction. AI affords us the opportunity to move away from this and tackle tasks in a more intelligent and efficient way. Imagine a machine learning-based algorithm, which could practically polish its skills in ‘real-time’ if it were fed the appropriate training data. Unlike artificial intelligence based-projects, blockchain technology creates decentralized, transparent networks that can be accessed by anyone, around the world in public blockchain networks situation. While blockchain technology is the ledger that powers cryptocurrencies, blockchain networks are now being applied to a number of industries to create decentralization. For example, SinguarlityNET is specifically focused on using blockchain technology to encourage a broader distribution of data and algorithms, helping ensure the future development of artificial intelligence and the creation of “decentralized A.I.”
How it will work
PaintChain is partnered with Shanghai Tower Chain Network Technology Co
PaintChain and Blockchain AI rollout
PaintChain will be a data cloud new software that redefines the search, match and dispense workflow for paint retailers. Featuring a modern user-interface, it is both easy-to-use and customizable, for immediate brand recognition. PaintChain will store lab-quality matching capabilities, and will enable you to not only find the right color for your customer faster, but also formulate that color with greater accuracy – improving customer satisfaction and minimizing re-tints.
Fast Color Lookup & Customizable User Interface with PaintChain
- Easy-to-learn, easy-to-use:
PaintChain wizard mode enables search by color or product and all-in-one mode, saving steps to dispense. - Customizable user interface :
Add or remove features to suit your workflow, intuitive navigation and custom addition of manufacturer or hardware store logo. - Flexible Formula Management:
Use any unit of measurement – shots, ounces, quarts, gallons, or liters – including automatic conversion from volume to weight. - Re-dispense formulas instantly:
Search customer files for any color, between any time period to quickly re-dispense and satisfy repeat customers.
Lab Quality Matching Engine
PaintChain will provide superior color matching results. Greater efficiency in first shot matching than non blockchain centralized products. Achieve higher customer satisfaction thanks to reduced mistints correction. Whether your customer wants to customize an accent shade or match exterior colors for stucco and plaster, you’ll always deliver results corresponding to your customer’s vision.
PaintChain will have smart match technology that adapts to the real behavior of bases and colorants using onchain AI technology.