The Yuan Chain is an enterprise blockchain software-as-a-service (SaaS) platform that aims to make the usage of blockchain technology easy across the world. According to the whitepaper, the Yuan Chain offers an ecosystem that comprises its native public blockchain, i.e., Yuan Chain, private blockchains, and alliance blockchains.
In the current scenario, enterprises and individuals face three major challenges when using blockchain technology: searching application scenarios, difficulty searching for a development team that can comprehend blockchain technology, and difficulty in accomplishing a sufficiently safe blockchain. Therefore, the Yuan Chain is a platform that seeks to solve all these issues by offering blockchain SaaS. Enterprises and individuals can adopt blockchain technology and the services based on it along with security without going through any skyrocketing development costs.
The primary public chain of the platform seeks to provide the benefits of high stability, ease of connection and usage, and high concurrency. The platform intends to offer an easy and quick way to integrate blockchain technology with the specific application scenarios of users to maintain pace. The platform takes advantage of Bitcoin, Ethereum, and Bitcoin shares (BTS) and plans to integrate innovative technology to build a new architecture of blockchain network. The Yuan Chain platform also supports an obstacle-free circulation of digital currencies and items among the public, consortium, and private chains.
The native cryptographictoken of the Yuan platform is YUAN, which is an ERC20 token built on the Ethereum blockchain. YUAN has been designed to be employed only for the services of the Yuan Chain platform such as running smart contracts, receiving services, running distributed applications, and implementing transactions. The mechanism offers economic incentives that encourage users to participate and uphold the ecosystem on the platform. Also, the token is a nonrefundable utility token, employed as the unit of exchange between various participants on the Yuan Chain platform.
