Singapore, 16 Oct 2021, ZEXPRWIRE, In 2017, Glass Chain was established by the Singapore Optometry Foundation and is committed to becoming the world’s first distributed service platform that uses: integrated tracking, sales, and incubation of the optometry industry by using blockchain technology as the bottom layer and the use of the Internet of Things (“IOT”), big data analysis, and other innovative technologies.
The vision industry has a huge market, but its development in the world is extremely uneven. In some developing countries, there are still a large number of groups that need optometry services.
At the same time, there are many problems like shortage of talents in the industry, insufficient awareness of the population, good habits have not yet been formed, and industrial supporting facilities have not been created for the development of the industry. These factors have greatly restricted the development of the optical industry.
The birth of Glass Chain hits the point by using blockchain technology to ensure data security, to establish public vision files, and to cultivate industry development. And also build consumers and ecological service providers based on blockchain. The labor certification account book is based on contribution, development-oriented, and rewarded by the token, Glasscoin (“GLS”); leading the blockchain technology, vision industry, and global business formats to major innovations.
As the world’s first compatible commercial public chain, Glass Chain has elaborately designed the main chain + parachain characteristic structure, and added the most substantial change to the industry — the SMJ mining machine.
If blockchain technology is a miraculous seed, then the power source for the development of this seed in the industry is the SMJ mining machine developed and designed by Glass Chain.
SMJ mining machine is equipped with the world’s first cat-claw intelligent dual mining server- SMJ machine. The SMJ machine is the most fundamental difference from the traditional mining machine; it features two uniquely innovative functions. One of them is the same as the ordinary mining machine, which is used for the accounting and mining of the public chain to maintain the operation of the public chain.
The other end is the “cat claw air cushion” of the mining server. Explosive new blocks come out and merge into the public chain, broadcast transaction information to the entire network, synchronize transaction data, and at the same time use blockchain technology to maintain information in the ecology. These processes are secure and ensure that transaction information cannot be tampered with and also protects user data.
This is also an important step that blockchain technology brings to the optical industry, the guarantee of data security, and the foundation for the intelligentization of big data and the commercialization of data in the future.
The deployment of a large number of SMJ mining machines in the public network has become a public chain node, which also effectively maintains the security of the entire Glass Chain public chain, and brings possibilities for the extension of the huge network.
The other end is used for offline ecological enterprise on-chain management and operation mining, carrying the order book of the entire ecological enterprise. This end is called ‘the cat’s five claws’-each mining machine can fission 5 merchants, the cat’s claw also endows the SMJ mining machine with great efficiency. For example, one mining machine server can match five companies under the standard line companies and societies on the chain.
At the same time, because of the Glass Chain’s main chain + parachain architecture, the expansion of the physical parallel public chain can be quickly completed. Each community does not exist in isolation, and the parallel chains can share communities across chains
The cross-chain sharing community brings to the Glass Chain more than just a series of intercommunication between communities in the optical industry. The design of the Glass Chain is forward-looking by adding a pluggable modular design. This allows Glass Chain to connect to any public chain with bridging technology at any time, it then synchronizes all the data, and ensures the communities information can interact unimpeded.
Glass Chain also broke the traditional mining model and made bold innovations in the mining model. Glass Chain’s new mining method allows everyone to be a miner. Due to the emergence of cat claw mining machines, one mining machine can fission and link up to 5 merchants. The definition of miner is no longer limited to traditional physical mining machines but generalized.
Glass Chain mining follows the following formula
n is the role in the ecology (can be designed according to the entity ecology);
k is the mining coefficient
The mining formula looks a bit complicated, because in the new mining distribution formula, the income of the mining machine is no longer based on traditional mining methods, it takes every participant’s contribution to the ecology into consideration.
Have we ever thought about one question? Consumers’ consumption should be considered as a sum of investment for internet companies. While, for now we haven’t seen any companies that give division to their consumers by the end of the year.
When we are on those platforms, the consumers only get the products they bought, and merchants pay the platform to increase their exposure and conduct activities, which drives up the platform’s traffic. In other words, they both fed the platform together, but they did not get any dividends. Glass Chain is unique because it is going to reward everyone who can give ecological nutrients, and every ecological grower and contributor are considered miners.
Mining roles include physical mining machines, consumers, brokers, merchants, and experts. All groups involved are included according to different ecology. According to the design of the Glass Chain mining machine, one server can currently serve 5 merchants, and the merchants have products that can be traced. Merchants, as one of the important roles of commercial mining, are not only a role of providing commodities and products, but also triggering smart contracts by tipping rewards, and the amount of currency mined is proportional to the rewards. According to the different industry ecology, the reward ratio of different roles can be designed on the smart contract.
As an illustration, an ordinary consumer buys one eye-optic device at a time; this purchase process is considered a process of mining. Because it is the service goal of the industry, consumers are the most important miners and have the highest proportion. Consumers can both buy goods and earn GLS, and the tokens can be used for commodities. And the tokens can also be traded to achieve an outer cycle. This is the theory that Glass Chain allows consumers to buy more and get richer.
Glass Chain is structured by consumption capitalization, it accomplishes the code programming of contemporary business behaviors, focusing on achieving a win-win situation for both buyers and sellers. In the process of consumer consumption, the physical mining machine will perform accounting services on this account. At the same time, the consumption scenario also occurs in its fission community.
Merchants, as service or product providers, are introduced to enter the Glass Chain ecosystem by brokers through physical mining machines. If there are experts who provide services to the ecosystem such as optometrists, they will also participate in the distribution of the mining revenue.
Let’s take a look at the mining formula again, k1+k2+k3+k4+…..kn=1, it looks a lot clearer.
This whole mining process includes merchants entering the system, commercial mining, triggering smart contracts, automatically completing the mining process, and achieving mechanism-based proportional distribution.
Glass Chain using unique Pos.T incentive model: miners obtain expected incentive certificates in the blockchain public chain system and application ecology according to the division of roles. After verification they can get the same amount of GLS acceptance rewards.
Each merchant can generalize the role of miners and let people in their communities become mining participants, which can help Glass Chain achieve ecological fission and increase its stickiness with various roles in its ecology. This can enable consumers to achieve the transition from the role of customer to the role of community builder.
As an important part of the Glass Chain’s incentive layer, GLS can motivate every participant in the ecology. Professional and high-quality optical service providers can obtain GLS through their services. In addition to good services and treatment, consumers also will develop good eye-care habits by the GLS incentive.
Through the accurate calculation of the blockchain token, users who hold GLS can obtain the corresponding income distributed. GLS tokens can motivate merchants, provide better services to the public, can cultivate good eye habits of patients, and promote patients’ vision health. All of these processes will help to establish a credible incentive system for related data through smart contracts, build and enhance the industry ecology of the Glass Chain platform, and create shared value with multiple parties.
The transformation of industry digital intelligence has become the core driving force of every consumer market, especially the optical industry. Under such a new commercial environment, some new technologies have accumulated good strength and are breaking ground tenaciously.
The new technologies of Glass Chain have sustained growth from the bottom-level design to the business thinking logic. It is precisely the Glass Chain mining machine linking the consumption scene, laying out the bright moment of the future of optometry ecology.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No PITCH SCOOP journalist was involved in the writing and production of this article.