8. WHY SPECTACHAIN ?
Last updated
Last updated
Specta Chain is a blockchain platform that uses modern technology and architecture to ensure network security, scalability and efficiency. The following are the technologies and architectures used in Specta Chain :
Uses the Proof of Stake Authority (PoSA) consensus, which is a variation of the Proof of Stake (PoS) consensus. PoSA consensus allows validators to validate transactions on the network using their trustworthiness and reputation on the network as determining factors. This allows the network to validate transactions faster, more efficiently, and cost-effectively.
Using an architecture that is compatible with the Ethereum Virtual Machine (EVM), thus enabling developers to use the Solidity programming language to build applications on the Specta Chain. Within this architecture, Specta Chain uses smart contracts, which allow developers to create decentralized applications in a secure and trusted manner.
Uses an architecture designed for scalability, so it can handle large volumes of transactions without compromising network speed or security. To achieve high scalability, Specta Chain uses sharding technology, in which the network is divided into multiple shards or fragments. Each shard contains multiple blocks of transactions and has fast transaction speeds, enabling Specta Chain to process more transactions simultaneously.
Using modern security technology to protect data and transactions on the network. One of the security technologies used is public key and private key encryption, which ensures that transactions on the network can only be accessed by the owner of the private key. Specta Chain also uses a strong cryptographic hashing algorithm to validate transactions and ensure network security. PoSA also has several security features that enable a more secure blockchain network. For example in PoSA, validators can be selected based on their reputation within the network, and there is no need to purchase the special equipment required in PoW.
Specta Chain supports DAO (Decentralized Autonomous Organization), which enables members of the organization to make democratic decisions without going through a third party. Specta Chain uses smart contracts and SPC coins to create and manage DAOs on the network. With support for DAOs, Specta Chain enables developers to build decentralized organizations and make decisions efficiently and transparently.
Specta Chain provides easy-to-use APIs and comprehensive documentation making it easy for developers to integrate the platform into their applications.
