Launch of InsurChain Main Test Network –The World’s First Public Blockchain In Insurance Industry 

Launch of InsurChain Main Test Network –The World’s First Public Blockchain In Insurance Industry

July 8, 2018

InsurChain main test network

The first public blockchain in the global insurance industry goes online.

It is of great significance to the execution and evolvement of the block chain technology in insurance.

InsurChain is vertical to insurance industry, which has natural consistency in essence with blockchain technology.

InsurChain aims to build an intelligent risk management and distributed trading network platform, to analyze and express the potential risk of the physical world digitally by block chain, digital encryption and virtual machine technologies, and conduct the automation management of digital asset by intelligent contract.

 

InsurChain has carried out a wide range of technical innovation in insurance block chain sector, thereinto, the most commendable is to propose the country’s first blockchain based integrated technical proposal, called “Collaborative Trusted Computing” (abbr. CTC), which is an ingenious technical innovation raised by InsurChain Technical Community. As China doyen of cryptography as well as a member of Chinese Academy of Engineering and National Informatization Expert Consultation Committee, Shen Changxiang has been advocating to the great attention to the application of trusted computing in block chain, which is pointed out a sound solution to block chain security. The data security problem is an industry-wide problem in the insurance, which is also the value of collaborative trusted computing. InsurChain takes insurance products as the breakthrough point, deconstructing the complex clauses and transaction processes behind insurance products, thereby exerting the social value of insurance contracts.

InsurChain main test network is based on DPOS consensus mechanism and adopts “primary node” as the witness. During the network testing, about 11 primary nodes (DPOS) will be selected for the test work, which will be increased to 21 or more according to the test results later. At the same time, there are no more than 2000 normal nodes, executing the IPFS data task synchronously.

The launch of InsurChain main test network today has realized its basic functions:

Network Level :  the operation of transaction ledger network based on the DPOS consensus protocol, with primary node as the witness. the operation of distributed storage network based on IPFS storage protocol, with normal nodes as data storage nodes.

Application Function Level

Block chain browser: display the overall operation of the network, including block generation, transaction speed, node information and other functions;

Wallet: users can transfer, vote, create digital assets and etc. after creating personal accounts.

General data upstream: users can perform encrypted upload, and decrypted download through their personal accounts.

Based on “Collaborative Trusted Computing” technology. The follow-up developments will include Insur-VM, Insur-ON, Insur-CN, Insur-DN and other initiative application technical solutions.

A strategic investment fund will be set up to facilitate the ecological construction of insurance block chain

In addition to technical breakthroughs, the construction of community and ecosystem is also of vital importance.

InsurChain will establish strategic investment fund “InsurFund”, used to construct the insurance eco-community, meanwhile to motivate more and better insurance products to participate together to transform the traditional insurance mode. The details will be announced in the near future.

About InsurChain

The world’s first public blockchain in insurance industry.

InsurChain is positioned to provide users with block chain infrastructure services at the commercial level of the insurance industry. On the one hand, we are committed to building an enterprise-level blockchain basic platform; on the other hand, we dedicate to building a highly extensible application business support system on the platform, mapping the real insurance world to the blockchain. Through cross-border, cross-platform, cross-industry, across-enterprise internet collaboration, we create a new business model to provide cooperative parties with trust services, and we are committed to reconstructing production relationship in traditional insurance regarding block chain as the breakthrough point, and creating the customizable scene insurance products by the connection of insurance products and customer needs, in order to build a decentralized, transparent, collaborative credible, value high-speed transmissive and trusted distributed business environment based on block chain technology.

 

If you have any suggestions during the test, or you want to participate in the primary node and normal node election, you can contact the InsurChain technical team through the following ways:

Official Website:www.insurchain.org

APP Download Link:https://wallet.qusukj.com/h5/shareSucc.html

Twitter:@InsurChain https://twitter.com/InsurChain

 

Email:customer@insurchain.org

Telegram:https://t.me/insurchain