What is Fab -The blockchain for high-performance enterprise and e-commerce applications.
Current problem with blockchains:
The use of blockchain in enterprise applications is significantly hindered by the limitations of the currently existing systems.
The Bitcoin public blockchains do not have the levels of transaction processing performance required for enterprise applications.
The complexity of developing applications for/on the Bitcoin blockchain can make it difficult and time-consuming for developers unfamiliar with the underlying technologies.
Solution :
The Fast Access Blockchain(FAB) is capable of processing 1 million transactions per second while maintaining security, double spend protection, and decentralization.
The FAB Universal Framework Application Development layer shields developers from the underlying complexity of the blockchain and makes it easier and faster for them to deploy applications. This makes it possible to rapidly deploy blockchain applications and make them available for monetization in the FAB Application Marketplace
Why Fast Access Blockchain
Fab is a complete solution for constructing a practical public blockchain ecosystem with high scalability, effective security, reliability and decentralisation and also has the flexibility to develop multiple application types.
It is not just a theoretical concept.What I like about the project is the in-depth technical detailing given in their whitepaper.
Link to whitepaper: https://fa.biz/download/fab-en.pdf
Lets see what makes Fast access blockcahin special :
- FAB is a world's first public blockchain that meet large-scale enterprise application needs
- Fast transaction up to Millions of transaction per second
*Truly scalable and decentralised
*Application readiness – Some application will be built on top of FAB are ready including supply chain and emarket place apps.Other industries such as music ,insurance ,supplychain,health.
Check out this use cases here
Insurance :
https://medium.com/@FABBlockchain/fab-use-cases-insurance-3f5b1aca12cf
Music ,Entertainment and Media:
https://medium.com/@FABBlockchain/fab-use-cases-music-entertainment-and-media-ee6288671a9d
- Real Public Blockchain-Real public blockchain network, gives equal access to everyone, open to public to participate as node freely.
- For Real business –Fab is not just a medium for currency transfer but used for various business affairs.
Universal Protocol-Fine designed protocol not only for scalability use but also for cross chain transactions. - Open ecosystem-FAB network will develop an open ecosystem that truly belongs to public and for public use.
Token and currency for FAB Network :
Fab coin – It will be the only currency in the in all the whole ecosystem
There are a total of 200 million coins
*8 million coins- Reserved for development and marketing
*24 million –Distributed through ICO
*168- To be produced by mining in over 60 years
Roamap :
They have a very solid roadmap .The entire project will be built by Q1 2019 in following phases
2018-03
• Foundation Blockchain test
• Test compatiblity with Bitcoin full node
• Test KanBan features
• Test SCAR support ability
• Test universal address format
2018-08
• Annex chain test
• Set up load testing annex node
• Test features with KanBan
• Test features for main chain clearance
• Test double-spending prevention
2018-08
• Integration test
• Test all three major components interaction operations
• Test variety transaction cases
• Test all the way transaction management and process
2018-10
• Applications test
• Test decentralized e-commerce application
• Test supply-chain application
• Test payment process application
2018-12
• Universal Middle-ware Layer test
• Test universal value framework
• Test universal trust framework
• Test universal evidence framework
• Test universal organization framework
2019-01
• Production launch open
• Marketing at least 100 node
• Mining business adopted by major mining pools
As per the roadmap the FAB foundation chain Test network is ready and was launched on March 14, 2018
Generic users may test blockchain browsers, wallet, developers may test programming interface, while miners may test mining process
Team:
Paul Liu, the founder, is an experienced IT expert with over 20 years experience in developing financial, supply-chain applications. He was the first general manager of China UnionPay Financial Network where he led and developed a series of large-scale applications.
At the beginning, Paul led a developing team that aimed to create a decentralized supply-chain application by 2014.However, he gradually realized the scalability problem of public blockchain networks. A good scalable base blockchain is the base for applications to work well, so Paul and his team switched to research blockchain scalability problems.
After diving deeply into blockchain technologies they summarized the principles and philosophies needed to overcome scalability problem. His team designed the FAB model to achieve those principles and invented important groundbreaking technologies including KanBan, SCAR and CCUA . Those unique technologies together make FAB the first blockchain that meets real business and commercial uses.
Team is active and started working on exporing partnership.Glimpse of Paul Liu @paullby and Mohamed El Kandri of FAB visited the Huawei headquarters in Toronto for an important meeting on the future of Fast Access Blockchain in the telecom industry
Verdict:
Currently on this date, ICO has been completed and team is negotiating to get listed on exchanges.It would be nice for people who missed in icos to grab some FAB tokens when they get listed on exchanges in coming days.
How to get connected to FAB team :
Twitter : https://twitter.com/FAB_coin
Telegram: https://t.me/fabtoken
Website: https://fa.biz/
Video Review: https://fa.biz/project/videoshow
About author :
Mohammed Lukmon
you can also follow me on twitter
If you like the article please upvote , Resteem