Locus Chain Technical FAQ Ⅱ
Hello, this is Locus Chain Development supporters.
Following FAQⅠ, we also answered questions submitted directly by investors in FAQⅡ. Currently, the development of Locus Chain is proceeding smoothly with the aim of launching the main-net in the first quarter of next year, and we will try to answer all your questions about our technology. If you have any questions regardless of its level, please feel free to ask us at the link below. ▶ go to ask
* This questionnaire is only for “technical” questions. If you have any questions about business and company, please feel free to email us.
We will collect all the questions and answer them in the order of their frequency, and our core developers will comment directly on the questions via Locus Insight.
The technical director, Jake JOO of Locus Chain’s core development team answered the questions.
Q1. The current Block chain account (wallet address) system has a complex structure (hash values), and made so that if one forgets one’s wallet address or private key, it is impossible to retain it. Does Locus Chain have an alternative for such problems?
Because Locus Chain is also a cryptocurrency based on distributed ledger technology, it is not possible to retain one’s lost private key. We will try to add a help feature for key management in our wallet development process, but the basic management of one’s key is the user’s responsibility.
Q2. It has been said that atomic swap will occur after the release of the main-net. I would like to know how it will be done.
Locus Chain’s atomic swap to the main-net will be done using the HTLC (Hashed Time-Locked Contract).
To put it simply, it is a way of using a hash algorithm that operates identically on the Etherium main net and Locus Chain’s main net to hash, deliver, and verify information that can prove the ownership of the token.
Q3. You said you’re using a DAG based AWTC structure. Can you explain what AWTC is?
AWTC is an abbreviation for Account Wise Transaction Chain, a DAG ledger that manages transaction history per account in the form of chains. It can easily be misunderstood as each node storing its own data, but AWTCis an internal form of the ledger, and all nodes store transaction details of the account like any other cryptocurrency based on distributed ledger technology. However, Locus Chain is conducting research on consensus algorithm and dynamic state sharding to significantly reduce the amount of ledger that each node needs to store. Nano is an example of a cryptocurrency that uses a DAG ledger with an AWTC form.
Please understand that technical contents may be misinterpreted in English translation process.
You can find a video of Locus Chain’s node test video on Youtube.
Please feel free to leave any new questions or additional questions related to the above FAQ, and we will continue to answer them to the best of our abilities.
Locus Chain’s technology is constantly developing and its possibilities are endless. Your interests and questions enrich our technology, thus we ask for your continued participation and support.
Locus Chain will try its best to share your questions and communicate with you. Thank you.