1. Background

Blockchain technology has achieved rapid development in the past ten years, we can clearly see the growth path of this emerging technology. Generally speaking, we can summarize the current development of blockchain into three stages. The typical representative of the first stage is Bitcoin, which realizes the issuance and circulation of cryptocurrency. The blockchain at this stage is a decentralized ledger with relatively single functions.

The second stage is represented by Ethereum, which supports the development of public chains with smart contracts. Smart contracts are the basis for dapps, the public chains of this stage mainly solve the performance and expansion problems of the blockchain.

The third stage is the web 3.0 stage, blockchain would be integrated with technologies such as the Internet of Things (IoT) and VR to achieve interoperability with the real world. At present, there is still a lot of room to explore.

With the outbreak of the DeFi ecosystem, handling fees and transaction efficiency problems are gradually exposed. Users with small amounts of funds cannot even participate in DeFi activities, which obviously hinders the development of web 3.0.

We hope to catch this moment to improve the overall technical structure based on DxChain 2.0. Compared with other public chains, DxChain, a product created for the public chain, still need to improve in smart contract and cross-chain, which is our main ambition of DxChain 3.0.

We tend to build a platform on which DxChain ecosystem can be developed, facilitate users to transfer assets between multiple chains with security and scalability, and create a most suitable public chain for decentralized applications.