Recently, LBank Exchange held an AMA session with PLUG Chain team, discussed about PLUG Chain’s goals, main features, advantages in the crypto filed, team background, partnerships, future plans and so on. Here’s the summary of this AMA. Combining oracle with blockchain can make business more efficient, streamline processes and provide more accurate services. A project […]
Recently, LBank Exchange held an AMA session with PLUG Chain team, discussed about PLUG Chain’s goals, main features, advantages in the crypto filed, team background, partnerships, future plans and so on. Here’s the summary of this AMA.
Combining oracle with blockchain can make business more efficient, streamline processes and provide more accurate services. A project called PLUG Chain (PLUG(CN)) goes beyond that and integrates cross-chain technology with oracle, in order to support real and tangible industries that has somehow been neglected by most of the existing blockchain functions.
Aiming for the tangible industries
PLUG Chain, simply speaking, is a high-performance public chain that combines cross-chain and oracle technology together. Unlike most of the blockchain projects which mainly focus on supporting crypto and blockchain industries such as DeFi, GameFi, SocialFi, Metaverse and so on, PLUG Chain aims to develop and help real and tangible industries like manufacturing, factories, hotel resources and many other traditional businesses.
The most significant competitive advantage of PLUG Chain is its innovative combination of cross-chain and oracle technology, this main feature distinguishes the PLUG Chain from other projects, making it sort of like a Polkadot and ChainLink combination of different blockchains. The team first came up with the idea of PLUG Chain project two years ago, now it is ready and going live, and the token of PLUG Chain, PLUG(CN) has been listed on LBank Exchange.
A strong community built up for the great ambitions
PLUG Chain project was developed from sketch by well-experienced developers and engineers, it has 3 different IT communities with more than 80 engineers in China. Lots of specialists in various fields have involved in building the project, including the chief architect Mr. Bowen, who is one of the founders of Huobi Hangzhou Limited ten years ago.
In addition, PLUG Chain has 20 different foundations and more than 40,000 users in China currently, it has incubators all around the world such as Malaysia, Singapore, China Mainland and Hong Kong. 8 different ecosystems are running on it in Asia right now and furthermore there are NFT, metaverse and decentralize ERP as well, more and more ecosystems are coming up to the PLUG Chain.
The total supply of PLUG(CN) token is 1000 billion, and users can buy it easily on LBank Exchange right now. PLUG(CN) tokens run on PVM (Plug Virtual Machine) which functions on its on blockchain. More importantly, 99% of the pre-mined genesis block will not liquidates and is locked for 10 years, which means the big players will not sell any of those PLUG(CN) coins within 10 years. Obviously, it shows that investors have strong beliefs toward PLUG Chain and there is many future planning ahead for the project.
Turning challenges into opportunities
In recent years, Covid-19 pandemic has heavily affected lots of industries, but there are also lots of manufacturing industries increased tremendously in China because of all the necessary goods and items needed to be supplied to the world. The project team believes that PLUG Chain will keep on developing and expanding to serve all these tangible industries better and turn these challenges into opportunities.
PLUG Chain plans to focus on serving Asia market including China in its first 3 years. Once the ecosystem and products of it become mature enough, it will expand its market to the whole world in the following 3 to 10 years.
For more information on PLUG Chain:
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About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users in more than 50 countries around the world.
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