The financial rising star, Jewish Chain will begin to start the operation. It is committed to promoting the improvement and development of the entire financial ecosystem, starting by providing more convenient and secure services, becoming the leader of the blockchain in the financial industry and writing a new chapter in the finance industry.
2018 can be seen as the prelude to the evolution of blockchain 3.0. According to a recent report on blockchain technology issued by McKinsey to the US federal insurance advisory committee, more than 100 kinds of blockchain technology solutions have been explored since 2016. The blockchain has emerged from the conceptual stages, and the Jewish Chain (JEC) will push the blockchain into the 3.0 era and lead the new ecology of finance.
However, due to low performance, difficulty to use, high cost, the risk of technology “lock-in” and lack of function continue to hinder the operation of blockchain technology into ordinary households and financial industry. The style of the Jewish Chain (JEC) is relatively low-key. In order to build a distributed future decentralized financial chain, the application of blockchain technology and digital assets can be more widely popularized. It is hoped to create extraordinary application value and reshape the future financial ecology through studying the four directions of financial usability, stability, security, and extensibility to create a new financial system that has been built to solve the financial pain points.
Ensure privacy with one-time account system and ring signature scheme
The Jewish Chain uses a one-time account mechanism, where each user has a unique primary account and multiple sub-accounts, which can also be viewed as an account in an intelligent contract and are usually generated not by themselves, but by the other party. Another user is unable to create a one-time account and a primary account without a scan key, which guarantees the separation of the main account and the one-time account is untraceable, and the one-time account private key cannot be obtained without the primary account private key, which ensures the security of the one-time account.
Upgradable intelligent contract with a complete Turing programming language to ensure system operation
The smart contract programming language in the Jewish Chain was fully compatible with Ethereum’s Solidity at the beginning and added some Nebulas Rank-related instruction sets to facilitate developers to obtain NR values for any user. Afterward, we launched support for various programming languages based on JEC, which allows developers to use their preferred language, such as Java, Python, Go, JavaScript, Scala, and even customized high-level languages for specific applications.
In addition, the Jewish Chain designed a concise smart contract upgrade program: At the language level, we support a contract’s state variables for direct reading and writing by another contract (in compliance with security constraints). After the new contract is deployed, the old contract will be able to choose to self-destruct and will not be accessed again, but the shared variable will remain permanently. The new agreement can fully inherit the balance assets of the old agreement, the status will remain and no additional transfer is required. To ensure the security, the upgraded contract and the old contract must be the same creator, otherwise, there will be an error during the operation. With this scalable approach, a vulnerability attack like TheDAO or Parity can be fixed quicker, rather than by hard bifurcation. And even after the repair, the users do not need to transfer their assets and continue to use.
Meanwhile, the Jewish Chain adopts the HBTH-DPOS consensus process and the public key encryption scheme based on Ring－LWE to ensure data security, the HBTH-DPOS consensus ensures that there is no financial interference or voter apathy, and the public key encryption scheme ensures that there is no threat from quantum attacks.
Therefore, the Jewish Chain has the following technical features:
Completely decentralized, no credible third party participation
Security guarantee based on cryptography algorithm
Privacy protection for cross-chain transactions
Reduce financial costs and facilitate cross-border and cross-chain asset exchanges
It also has a rich set of applications in the areas such as profit management, digital asset financing, digital currency lending, digital currency payment clearing, equity management, securitization, and others. With its strong technical capital, the Jewish Chain has been favored by the American Jutelic Foundation and other investors. Now, it is officially open for registration, and on the way to start operating. The Jewish Chain will continue to promote the improvement and development of the entire financial ecology, starting from providing more convenient and safe services, becoming the leader of the blockchain in the financial industry, and writing a new chapter in the finance industry.
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