BTC is still in a leading position in the current blockchain market. It has a wide range of audiences and users to keep standing in the vast market. However, due to the four-year halving of BTC and its high entry cost and less quantity, many investors are looking for new investment opportunities.
As the 1.0 version of the blockchain, BTC has its limitations in terms of the consensus mechanism and the underlying architecture. There are still many deficiencies in the commercialization of the future.
The NGK blockchain version 3.0 has greatly improved both in the underlying architecture and the consensus mechanism. It has greater advantages over BTC in the commercialization of the ground.
So, what are the advantages of NGK compared to BTC?
1.Trading platform
Bitcoin’s trading platform is relatively fragile. It has been attacked by hackers many times, causing the loss of a large number of users’ digital assets.
NGK uses a block producer review mechanism; users could generate new tokens based on smart contracts to enter the review period. If a contract is detected with a BUG or security hazard during the review period, the block producer will initiate a vote by pulling the contract during the review period into the blacklist.
2. Transaction speed
The transaction speed of Bitcoin is slow with a 24-hour transaction rate of 7 transactions per second. The slow transaction volume processed by Bitcoin per second is mainly limited by the block generation speed and block size.
This has led to a large number of bitcoins entering a narrow channel, and the block space limits the number of transactions that the bitcoin network used to handle in usual.
Users could speed up the process of transactions, but this requires higher commissions.
The graphene underlying technology adopted by NGK could reach an average confirmation speed of 1.5 seconds. After the actual measurement, it able to reach a data throughput of 5000 TPS, reaching thousands of transactions per second. At the same time, it can even reach a confirmation speed of milliseconds through a parallel chain. Therefore, compared with traditional public chains, NGK public chains have greater advantages in terms of speed, performance, frequency, and security.
3.Consensus mechanism
Bitcoin adopts POW (Proof of Work Mechanism). The biggest problem was the high waste of electricity and the consumption of resources. The network performance is too low hence it made the block producing time and confirmation time are longer for about 10 minutes. Currently, POW supports 7 transactions per second but it is not suitable for commercial use.
The NGK public chain uses the PBFT+DPOSS consensus mechanism. The NGK.IO public chain distributes 21-block producer, and it only takes 1 second to complete the confirmation of thousands of transaction data.
