[ANN] [ACT] Achain - A smart contract platform for enterprise-class DAPP

[kernighan]

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Achain is a simple, efficient, and secure blockchain platform. Users can use Achain to quickly deploy digital assets, smart contracts and other enterprise level decentralized applications.
After two years of development, Achain gained market recognition as the leading platform of digital asset issuance. Its unique RDPOS (Result Delegated Proof of Stake) distributed consensus mechanism implements a complete Turing smart contract, a virtual machine aprooved with intellectual property rights. Achain’s performance on the chain can be as phenomenal as 1000TPS (transactions per second).
Achain can create and run smart contracts, issue various types of digital assets. It is thus applied to the fields of copyright protection, certificates of evidence, etc.

LATEST UPDATES

【September 21, 2017】All you want to know about Achain, a popular blockchain in China：
http://www.internationalfinance.com/in-the-news/company/want-know-achain-popular-blockchain-china/
【Nov 3, 2017】Achain Collaborates with Android Studio's Fan Community to Foster Blockchain Literacy
http://markets.businessinsider.com/news/stocks/Achain-Collaborates-with-Android-Studio-s-Fan-Community-to-Foster-Blockchain-Literacy-1002155475

Founder of Achain

Tony Cui
- President and founder of Beijing Goopal Technology Co., Ltd.
- Listed as one of the Outstanding Entrepreneurs Under the Age of 30 by the famous venture capital magazine "CYZONE"
- Awarded with Top 100 technology awards by the World famous technology business magazine Red Herring global
- Interviewed by mainstream media such as CCTV and Xinhua News Agency
- Entrepreneurial resources / Internet resources

Core Advantages of Achain

<sub>A. Outstanding blockchain technology
Won the first prize of China Blockchain Innovative Application contest. The event was organized by Zhongguancun Blockchain Industry Alliance and supported by the Network Security Bureau, the Ministry of Industry and Information Technology, the First Research Institute of the Ministry of Public Security, the National Internet Emergency Center, and the Institute of Computing Technology Chinese Academy of Sciences. Tsinghua University Internet Industry Research Institute, State Grid Zhejiang Electric Power Company Electric Power Research Institute, Microsoft (China) Co., Ltd., IBM (China) Co., Ltd. also involved in co-organization.
Won the first prize of China Blockchain Development Contest, which was guided and supported by the Ministry of Industry and Information Technology, the Standardization Administration, the Zhejiang Province Economic and Information Commission, Zhejiang Xiaoshan District government. Organized by Wanxiang Group and Ant Financial.
The above awards are the most influential blockchain awards received in China, which is here to reflect Achain’s rigorious technology.

B. Smart Contract of new generation
- A smart contract platform that can implement 100% path coverage testing on the official public chain with zero cost.
- An enterprise level platform that can upgrade the smart contracts with limited and supervised authorization.
- An efficient smart contracts VM supported by multiple languages.
Achain upgraded based on smart contract 1.0 and thus made major improvements in terms of concurrency, functionality, and accessibility. Developers of all levels can easily learn to navigate on the Achain platform.

C. The world's first RDPOS consensus agreement
Achain respond to the enterprise level multiple demand with full flexibility. Clients can not only choose from RDPOS, DPOS, POS, LPOS, PBFT and other consensus mechanisms, but also adopt ECC Encryption Algorithm or Domestic Cipher Algorithm independently.

D. Modular design, arbitrary combination
Depending on the state of package result transaction (ie. R-Result) at the time of production block node, RDPOS determines if the verification is conducted by agency or by all the nodes. This ensures an efficient verification process regardless of the various application scenarios.
Achain borrows the idea of the modular pattern commonly used in traditional Internet products to apply to the making of blockchain. This allows more developers to participate in its community. Developers are rewarded by providing abundant modules, which can be seen as small pieces of building blocks on the chain. In the future, more developers will be able to use these building blocks to build smart contract better and faster.</sub>


Technical characteristics of Achain
A. Distributed Consensus of RDPOS
The difference between RDPOS and DPOS is based on the party which performs the validation of the execution of smart contract. DPOS uses a correspondent node to perform smart contract in order to compare with the execution of the production block node. RDPOS will dynamically determine, according to the state of the result transaction (for example, R-Result) at the time of the package of production block node, whether smart contract should be verified by a correspondent node or all nodes. For a specific smart contract, for example, if the execution of smart contract requires a long period of time, and if the capacity of the internal state of smart contract allows, different strategies should be adopted to facilitate the rapid verification of smart contract. Besides, in case of unpackaged transaction resulting from the oversized result of smart contract, the block-generation node will only package the result transaction Hash, so that all modes can automatically engage in the verification.
B. 1000TPS Transaction Performance on the Chain

C. Smart Contract Sandbox
Achain provides a “sandbox mechanism”, a full-featured simulator. It permits users to access all the chain functions and easily verify their contracts - without spending tokens. This feature not only significantly reduces users’ cost of testing their contracts but also prevents potential unqualified contracts from being introduced onto the chain.
D. Event Notification Mechanism
An effective communication and feedback mechanism is particularly crucial to maintaining the ties between events on the blockchain and those in real life. Achain’s Event Notification mechanism allows for seamless data communications and interactions for this purpose.
E. Upgradable Smart Contract
Detect and compensate for the existing bugs in the contract with limited and supervized authorization.
F. Cross-chain Value Gateway
In order to ensure the transmission of values and information in between the blockchains, Achain has designed a cross-chain gateway to allow the transmission of value and information to other blocks conformed to the specification. This avoids potential isolation of any blockchains.

Projects based on Achain
Achain mainnetwork has run formally since July 22, 2017. Many projects, such as Kcash, OurDax, Coinfix, SimonsChain, Linkeye, Blackstone, SelfSell and other projects are developed on Achain, and even 30 more assets will be launched in future.
Achain blockchain browser supports multi-assets display and provides a rich API interface. Developer wallet and mobile wallet are already made available for downloads from the official website.

ACT Trade information:
ACT was once listed on exchanges：JUBI (jubi.com)、VPdax (vpdax.com)、Ourdax (bicooo.com)

Achain raised 2189.047 BTC and 10436.34 ETH in 61 seconds at July 7, 2017.  The ICO price: 1BTC=100,000ACT.
There are totally one billion ACT and 300 million in circulation.
In the first week of transaction, the ADTV (Average Daily Trading Volume) of ACT was around  $45.45million, and was about $22.7 million afterwards.
Total peak market cap: $682
（According to the transaction information on JUBI from August 17th ~ August 31th）
Where to trade now:
www.allcoin.com
www.coolcoin.com


Other Information
Achain Blockchain Browser：https://browser.achain.com
Wallet Download Address：https://www.achain.com/
Wallet PRC Interface Document: https://www.achain.com/help/rpc.html

Achain Community

FORUM - TWITTER - FACEBOOK - TELEGRAM - SLACK - QQ:626348505

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[kernighan]

Do you have plans for bounties/ airdrops/ signature campaigns for Achain, devs? Thanks

Official team may plan more.

Here is the first reward program. https://newforum.achain.com/index.php?topic=350.0

[kernighan]

If you go to https://newforum.achain.com/index.php and register a new account and post a new topic on blockchain, you will get free ACT.
Important~~~~ when you create account fill "Refer" as "kernighan" I will share you 3 ACT!!!!!!!

So after registration and post, you will get 10 ACT + my personal reward 3 ACT. Remember to fill ACT address when you create the account.

If you haven't ACT address, download achain wallet (kcash) from here.  https://www.pgyer.com/GLrA

[Rocket_Yang]

Great！
Achain team are we looking at more exchanges other than HitBTC?

[VeteranCoin]

Are any countries banned from this token sale?

[Rocket_Yang]

don't know.
the ICO is alredy done.so i think anyone can buy act.

[kingboonz]

Amazing undervalued project. Keep an eye on it.

[Hellobx]

I heard you will be on the H network, which is true？

[emmmmm]

I will support this project, after all, I am also the holder

[Rocket_Yang]

I heard you will be on the H network, which is true？

Yeah,they announced that.in next few weeks.

[zuzuca]

the core issue for a coin to be successful is to have something new and usefull for the blockchain infrastructure...i do not see those ingredients here 

[Rocket_Yang]

Hi Kernighan,
The link to blockchain.game is wrong.and you miss SelfSell.

[Shevrol]

Event starts from 2017-10-29, ends 2017-12-30 or 2000 registrants is reached.

It will start in two days only.

[Peterdav]

Good project that gained market recognition as the leading platform of digital asset issuance. I think this project will be successful with ease.

[Rocket_Yang]

Achain Weekly Report-2017.10.27

Business Development:

• Hosted the 3rd technical meetup for blockchain developers at Shanghai with Metaverse, yoyow, GCchain, Fabic, organized by blockchain.bus.

Core:

• Coded interface between RPC module and Cli.
• Designed the communication protocol between the chain and LVM
• Coded interface between the chain and LVM.
• LVM debug.
• Coded RPC module of LVM.
• Completed LVM contract compilation.
• Provided technical support of Linux version for the cryptocurrency exchange.

Achain Wallet:

• Upgraded to new version V1.0.5, with new features for auto update.

Documentation:

• Glua and RPC documents translated.

Official Website:

• Functions upgraded. (not released yet)

[Rocket_Yang]

"hitbtc and binance will come soon:innocent"
Heard from telegram!

[Rocket_Yang]

the latest Q&A about Achain

Q: How realistic is it for Achain to develop a side chain that holds a fixed exchange rate specifically to Bitcoins?
A: Overall a brilliant idea - It is definitely possible given the potentials of our current technology, though I am still entirely convinced of any direct contributions it would have made to our existing business model. It is, nevertheless, worth a try.

Q: When will Achain be officially introduced to major trading platforms worldwide? Such as Poloniex, Bittrex, Bitfinex, and Bitnance.
A: We have, in fact, already contacted and submitted materials to many of the trading platforms that you have mentioned. We are expecting fruitful outcomes in the near future.

Q: Achain is, at least to my knowledge, not always best known for its focus on marketing directions. Do you have any recent updates on that?
A: Yes. First of all, we are soon expecting a major upgrade of our current brand. Meanwhile, we are striving to become one of the leading participants in some of the major blockchain technology events worldwide - most recently, we are planning for a keynote speech at The Blockchain Summit in Singapore in this November. At the same time, we have been building a strong international community of Achain fans - that being said, regardless of their locations, individuals and groups with adequate interest and resources are all welcome to contact the Achain Foundation to gather technological support.

Q: What kind of projects would you expect to be released in the short and the long run?
A: We will soon announce them in November, but any further details regarding to that will have to be disclosed by the project directors and teams only.

Q: Will there be no more effort of promotion to be made within (China’s) domestic market?
A: Achain Foundation will unfortunately have to abandon its leading role in the domestic market due to the pressure of the country’s policies. However, there are definitely still rooms for Achain fans to organize unofficial activities.

Q: As a major public chain, how does Achain avoid the risks of having an insufficient hash power? Especially taking in consideration of the relatively small size of its current community.
A: Achain is strictly based on DPOS mechanism, which eliminates the problems of mining and hash power. Besides, as we continue to develop on a global scale, the Achain blockchain network will also grow wider and more powerful.

Q: Would it be possible, especially for the international community, to obtain more information about Achain’s team and investors?
A: Yes. We are planning on upgrading our current official website to incorporate in more detailed information in this regard. We definitely have kept a complete record from our old and new clients from the past.

Q: If I were to encounter technical, how would I seek help?
A: Achain will release more materials on the topics of technical routes and trouble-shootings. We also recommend you to seek answers from volunteers on our online forum.

Q: Do you plan to put more effort into expanding Achain’s domestic market?
A: We are mostly looking to promote Achain in the global market - mostly in the US, Japan, South Korea, Germany, and the UK. As for in the current market of China, we are satisfied with just maintaining our current level of influence.

Q: How do you plan to handle with the ICO presales that you have sold?
A: We generally provide ICO investors with a lockout period anywhere between one to two years. That being said, even the earliest release of those tokens would not come until July, 2018. Hence it is only wise to save this question for later, as we can achieve a better understanding of the situation along the way.

Q: Where can I find details on the team and advisers behind Achain?
A: Yes, we will soon update our website to incorporate in more information related to this.


Q: Also, I see that your stock price has crashed from 25 cents to 5 cents. Why is that?
A: It was mainly affected by a major adjustment recently made to the country’s policy.

Q: You have a $50 million market cap right now without anyone using the platform, which seems very high. Why is that?
A: There are about 10 projects running under Achain right now. The impressively high market cap right now is a result of Achain’s decent public reception and its marvelous accomplishment.

Q: Can you share any info on the projects that are already using your platform and token?
A: Yes.  SMC、LET、USC、HSB、ZLT、MDT、BIT, just to name a few.

Q: What projects do you see as competitors and what advantage does Achain have over them?
A: Two of the major competitors would be ETH and EOS, but Achain runs faster and more stable than both platforms. And, with many new strategies to be announced in the upcoming conference, I encourage the public to expect for more.


Q: Where do you see the company heading in 6 months and what are the major milestones you want to accomplish?
A: In the next 6 months we will expect Achian to enter its new phase called “Galaxy.” We are also planning to increase the number of our projects by multiple times. More details will be announced soon.

Q: How does the Achain team help their clients better establish their faith in virtual transactions?
A: We are definitely aware of your concerns, and we assure you that we have been working on this issue.

Q: What does the Achain team potentially think of making technological advancement by inviting public participation? For example, the team, when in need of an problem-solving idea or an innovation, can hold a ACT-based prize contests that’s open to both professional and amateur enthusiasts. This can not only expand Achain’s market and sphere of influence but also challenge the public participants’ skills and capacity.
A: Achain is mainly focusing on its chain as for now. But we will definitely soon form into collaborations with other teams for building Achain’s application products.

Q: I noticed many of your sub-sections, such as The Public Chain, Smart Contract. Are they prepared for a potential project expansion? On a separate note, as building the Achain community closes to an end, what are you planning to do to increase its popularity?
A: Exactly, those sub-sections are prepared for future project expansions. And to answer your second question, the current community, though built, has not yet been largely publicized. I believe that the community will easily be enhanced once we put in more publicity effort.

[AchainOfficial]

How is my account is protected? Which security systems do you use? How can I be sure my tokens are safe?

ACT use the same encryption as bitcoin, which is called ECC. It's hardly crack.

[Triload]

ACT is almost dead project after Chinese ban, I didn't sell ACT at 3 cny, but I trusted this project. And then I applied the refund, I regret that I didn't sell my ACT above 3 cny, what a huge pity.

[Rocket_Yang]

ACT is almost dead project after Chinese ban, I didn't sell ACT at 3 cny, but I trusted this project. And then I applied the refund, I regret that I didn't sell my ACT above 3 cny, what a huge pity.

If you do not buy some act now.You will regret in the future