Currently, there are many active Blockchain platforms, but almost all of these have not really met the needs of Dapps when applied to the reality of industries such as e-commerce, online advertising,… because of low transaction processing capacity, the costs are too high. And OZC Smart Chain was launched to solve these problems.
OZC Smart Chain is a new generation Blockchain platform using the O-DPoS (Open – Delegated Proof of Stake) consensus algorithm. The ability to process transactions at a rate of more than 1 million per second, almost zero transaction fees, maximum resource savings, and environmental protection are the outstanding features of OZC. The world’s leading experts highly rate this platform, and it is expected to be one of the 10 Blockchain platforms with the most potential in the world in 2022.
Blockchain has been and will become an important technology in the economic, social, and political fields to help operations and transactions become transparent, safe, with high security and low cost. However, Blockchain is still in its infancy and has not been applied in practice because many problems remain to be solved.
Current problems and solutions of OZC Smart Chain
Currently, other Blockchain platforms are using consensus algorithms that have many weaknesses, such as:
- The ability to process transactions is too small: Bitcoin only processes 7 transactions/sec, Ethereum 15 transactions/sec, Cardano 250 transactions/sec. Transaction systems are often overloaded so it becomes impossible to use them in areas that require higher transaction processing capabilities such as e-commerce, online advertising, etc.
- Unrealistically high transaction fees: the ability to process transactions being too small and the unreasonable transaction fee calculation mechanisms mean the transaction fees are high, creating a big barrier for application in industries with high transaction costs, large data and transaction processing volumes and low-cost requirements.
- Using too many resources, equipment, energy, etc compared to actual need to verify transactions and protect the transparency and decentralization of the network. The costs incurred during the operation are too high, up to tens of billions of dollars per year, which are consumed without bringing any real benefits to the community and society.
- In addition, the use of a large amount of energy, including the energy that turns into and emits CO2 gas, severely affecting the environment.
OZC Smart Chain is a new generation Blockchain platform using the O-DPoS (Open – Delegated Proof of Stake) consensus algorithm, a consensus algorithm built and developed by the founding team of OZC. With O-DPoS, the OZC system will work with a central 21 Master Node cluster that connects to many other 21 Master Node clusters to create a multi-layered Master Node system. These Master Node clusters create a threaded multi-layer processing system similar to the governance mechanism of a government with the following breakthrough features:
- Transaction processing capacity of up to 1,000,000 transactions per second when reaching 10,000 active Master Node clusters.
- Extremely low transaction fees; almost zero.
- Use fewer resources such as: requiring an average configuration device to be able to participate as a Master Node, using less electrical energy, etc.
- Environmental protection is one of the highlights of OZC when it comes to low energy consumption, using a low enough resource to build, operate and protect the system. Limit unnecessary waste generated by current Blockchain platforms.
OZC Founding Team
OZC was designed and developed by the first team of more than 30 advanced engineers; experts in the field of blockchain who have been engineers and developers in tech firms such as: Microsoft, IBM, Google, etc and the main Blockchain platforms worldwide such as: Ethereum, Cardano, Tron, etc.
OZC builds it’s team and governance system according to a decentralized model. OZC always has an expansion mechanism to attract new human resources to participate in operating and developing. The central cluster of 21 Master Nodes is shaped like 21 CEOs who jointly operate OZC, making OZC unaffected by anyone or any single organization; only the common value of OZC is the most important.
Introducing the first CEO of OZC
Co-Founder & CEO
Mr. Alex Morozov was born in 1978. He graduated from Bauman University in Moscow with a degree in Computer Science. He worked as a technology development engineer for five years in the Russian Army. He is also a senior engineer at Yandex, the largest search engine in Russia.
Since 2014, he has focused on research and development as an expert for IBM’s Blockchain projects, Telegram and numerous Blockchain projects in Russia and worldwide.
With OZC, he is a pioneer in leading the team and community as the first of 21 CEOs to build and operate OZC together.