What is Yuan Chain Coin (YCC)?
Yuan Chain Coin (YCC) is a platform that offers blockchain-based software services with high security without expensive development costs. The platform allows users to conduct risk-free and low-cost transactions and trade cryptocurrency without third-party involvement. YCC solves the problem for individuals and enterprises by making blockchain technology easy and accessible. For users, it becomes difficult to find applications relating to blockchain, a dedicated development team, and a secure blockchain to perform functions like recording and making transactions, stability, connectivity, etc. According to the whitepaper, the platform aims to provide a quick and easy way for users to adopt blockchain technology for personal and professional use.
The YCC platform supports cross-chain interaction between the private chain (YCC) and public chain, such as Bitcoin, Ethereum, etc., for smooth circulation of cryptocurrency. Also, the platform ensures the authenticated cross-chain interaction to prevent multiple types of attacks. The users can perform 10,000 transactions per second (TPS) on the public chain and 100,000 TPS on the private chain in a day. The platform is environment friendly as users can delegate the mining process to participate in voting and enables proxy mining. Moreover, YCC has introduced a new consensus mechanism based on the traditional proof of stake (PoS) for faster transactions. The consensus performs verification while ensuring decentralization, credibility, and performance. Further, YCC allocates a part of the transactions to the YUANCHAIN community development fund for technology research and development, promotion, tax expenditures, and project operation expenditures.
YCC is the native cryptographic token of the Yuan Chain Coin platform that follows ERC-20 token standards. Users can use YCC tokens to make payments and as a mode of exchange within the platform. Also, the YCC tokens can be used to enjoy the services offered by the platform. The platform also incentivizes the users in YCC tokens.
The platform also supports applications like non-fungible tokens (NFT), crypto wallets, preserving and tracing the crypto asset, etc.
History of Yuan Chain Coin (YCC)
The Yuan Chain Coin platform came into existence in 2018. The YCC team includes Paul, who focuses on control engineering and works to develop digital currency and blockchain. The team also includes Andy Yuan, who has worked for Oracle software and has studied blockchain technology since 2014. The total supply of the Yuan Chain Coin platform is 10 billion YCC.
