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Paralism is a Scalable, Decentralized and Interoperable Layer0 Blockchain platform. It is designed based on a parallel chain technology which allows cross-chain transfers, dynamic sharding and customized consensus. Paralism at present can support 64 chains in the hyperchain, with the solo chains can launch with 1000 TPS, 64,000 TPS can be achieved theoretically.

History
In 2016, the founder of Paralism named Shi Xingguo and Chen Guangyu designed Parallel architecture and algorithm which is the base of Paralism blockchain and achieved patent in China, United States and European Union; In 2019, Paralism launched its mainnet, and JVM and EVM are supported; In 2022, the ecosystem of Paralism included embedded Wallet, DEX, NFTs and DAOgram; In 2023, Paralism’s Asia-Pacific headquarter is launched in Tokyo, Japan.

Parallel chain
Paralism’s parallel chain (Hyperchain) defines two types of data structure, local blocks and hyper blocks. Local blocks process and store local data, whereas hyper blocks periodically scrutinize and aggregate local block data and checks for data legality and consistency. Such an architecture enables local computing instead of having to wait for the entire chain to approve the local compute request. Rather than having a central hub or relay chain through which all blockchains must connect, all blockchains will be equal in Paralism.

Consensus
Paralism leverages DPoW (Decentralized Proof-of-Work) consensus, a mix of “Buddy & Paxos Algorithm” (supported by hyper blocks) and Proof-of-Work (supported by local blocks). Such consensus asks paired nodes to approve each other, then extends to the rest of the network by 2n. This consensus mechanism is trying to solve the resource waste of POW and capital requirement of PoS. For local consensus, the modularity of Paralism’s consensus substrate allows local chains to select other consensus mechanism –PoW, PoS, etc.

Dynamic Sharding
Paralism’s algorithm (patent: Fundamental Algorithms for Parallel Architectures, Patent Granted No., CN201610326235.9, US10949563B2, EP3460706A4) makes dynamic sharding possible and provides a method for maintaining synchronization and consistency between shards. The Paralism Network will consist of an increasing number of identical shards that will operate asynchronously in their local siloes while coming to global consensus once per epoch. This will support probabilistic finality throughout the epoch for cross-shard transactions and deterministic finality by the end of the epoch.

Crosschain
The parallel of the Paralism data structure provide an interaction possibility for chain cross. When two sub-chains require to interact with each other, Paralism blockchain system will generate a temporary sub-chain for trading pending orders which will allow direct interaction of contracts between chains. Meanwhile, the hyper block structure will tackle the overall consistency of Parallel chains during interaction. Proceeding to the stage of Hyper block, the pending orders of cross-chain transaction/interaction will be settled simultaneously. Then the temporary sub-chain automatically disappears along with the settlement.

As global consensus through the hyperchain is built in at the protocol-level, this cost is amortized across the validator set and thus cross-shard transactions become affordable.

Patent
The fundamental of theoretical framework of parallel blockchain -A METHOD FOR GENERATING AND MAINTAINING RELIABLE DATA IN NETWORK ENVIRONMENT (Applied 2016, Granted 2019)

Parallel blockchain consensus algorithm -A METHOD FOR ACCUMULATING AND CO-ASSEMBLIING UNIFORM DATA (Applied 2016, Granted 2018)

The key data structure of parallel blockchain -A METHOD FOR PARALLEL MAINTENANCE OF DATA CONSISTENCY (Applied 2016, Granted 2019)

Protect and realize hybrid rights by blockchain -A METHOD AND A SYSTEM FOR STRATEGY-BASED DIGITAL ASSET TRADING

The basic structure of DAO equity -VALUE MAPPING AND EXERCISE METHOD FOR DIGITAL RIGHTS

Protecting anti attack data structure of parallel blockchain -A METHOD FOR PROTECTING CONSISTENCY OF DATA ACCUMULATED BASED ON CRYPTOGRAPHY DIFFICULTY