Eleven01 - A unique blockchain protocol.

bob-elr (56)in #eleven01 • 5 years ago (edited)

Blockchain technology gets more interesting at every dawn due to sauces and spices that are being added every now and then to create more robust platforms that are worthy of global adoption. Several factors mitigate against global acceptance of blockchain which ranges from political, economic, socio-cultural factors and others as may apply to different settings across the globe. Most of these factors find their roots cause in the flaws associated with the blockchain architectures/protocols/algorithms.

That is, the innovating technology is yet to remove the barriers to completely solve the problems of the society perhaps the world at large. It is of no doubts why different blockchain projects spring up fast to solve the inherent problems and possible future ones. In the past months, several projects have emerged with painted or genuine resources either successful or ended up parting away with investors' funds . Today i am making a short review of one - ELEVEN01 - A blockchain protocol for the next billion users.

What is

ELEVEN01 is a blockchain platform with high performance and scalability focusing on the emerging market to build a lasting solutions to various inherent problems of blockchain technology with a view of achieving mainstream at high level. It is envisioned to propelling India to the higher level in the blockchain sphere through a developed protocol geared towards raising a platform which allows the creation, publication, and extension of the core blockchain services in all sectors. Watch video for more understanding In contrast to existing blockchains, ELEVEN01's protocol provides for more robust platform that tends to put in consideration all factors that will explicitly trigger blockchain use across the globe..

Why ELEVEN01?

As a distinctive blockchain platform, ELEVEN01 channels its resources and energy towards eradicating spotted obstacles to blockchain's mainstream adoption thus:

Dual blockchain - creating a platform to harness both public and private blockchain workloads. One of the barriers preventing a lot of enterprises and multinationals from getting on blockchain technology is the concern for their privacy. With private blockchain, they do not have to worry as they can choose from several privacy options available to them on ELEVEN01.

ELEVEN01 aims to break the barrier to mainstream adoption through effective awareness and educating the audiences by building strong partnerships between government institutions, industry experts and technologists. Some of the partners includes but not limited to:

Strategic partners	Government Institutions	Enterprises	Start Up Partners
A 10 Billion Dollar IT conglomerate	State Government of Talangana, India	India's biggest blockchain Company	Developing human capital to drive innovation & transformation in socities
State government of Andhra Prandesh, India	International non-profit for better agriculture	A cloud base-holistic student performance improvement platform
State government of GOA, India	India's largest incubator and innovation initiative	First decentralized document management platform secured by the blockchain technology
Center for food governance	A Korean Media Curation and syndication company	Codeless deployment of dApps

High System ThroughPut

Effective consensus amongst the various connected nodes in its simplest term is achieving utmost agreement among several network of computers connected to the chain. The intelligence at which these sets of nodes come into agreement is termed consensus algorithm. An instance is where a transaction is written, submitted by a miner for approval. A transaction can only be confirmed at the commit of the majority of the connected nodes at least 51%. This is achieved through a mounted algorithm. One might see a blockchain adopt a Proof Of Work (PoW) and another using Proof of Stake (PoS) algorithm and so on. Each of these logic holds a certain difficulties in real process. ELEVEN01 adopts a robust dynamic algorithm which allows for the system to, a particular time select an algorithm which best suits its state at that point in time in a dynamic way. It can be initiated by a member node of an administrator. What an effective way of achieving high system performance.

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Indian market is exclusively large with accounting to larger percent of the world's population and economy. So if adoption is practiced in this part of the world, a significant momentum will be gained. Eleven01 mission is to disrupt the space by building the biggest and most advanced blockchain technology solving the various foreseeable problems of real-life.

Conclusion

To be factual, in my opinion, the more attractive culture of ELEVEN01' is its design configured to accommodate implementation of public blockchain(i.e permissionless - offers cryptocurrency for public transactions) and an encrypted blockchain (permissioned). This provides a ground for all sectors to deploy their ideas with respect to their personal and business needs hence paving way for mainstream adoption.

Token Economics/Metrics

In ELEVEN01, real world assets can be represented by a class of token known asset token just as it is used in blockchain-based systems since it is quite easier to establish a relationship between existing assets. Example is a landed property being represented by an asset token. Users are able to quantify their real-world assets with the platform's native token given actual real-life value is known. Token metrics as follows:

Token Name	1101 Native Token
Ticker	1101
Private Sale raise	10 Million USD
Total Token Supply	5,500,000,000
Circulating Supply	N/A Yet

Token Sale commenced already as at the time of writing this article. To participate, fill this form. Team will contact you via private [email protected]. For more details, you may contact team vis this email.

Team

Core Team

Here, I'll introduce few of the team members (Core members). More details about the full members is available here.