Hongkong – Oct 22, 2019 – “In the era of big data, data is priceless, and its preciousness will far exceed people’s imagination,” LKBT founder Amos Lang said in an interview.
Generalized Data and Narrow Data
Firstly, Amos Lang revealed that data has different forms of expression, such as numbers, words, images, sounds, etc. It is the carrier of information, which is represented by various forms such as databases, documents, pictures, videos, etc., and the existence of data is based on input and output of the information systems. In the era of big data, data is priceless, and its preciousness will far exceed people’s imagination. The narrowly defined data is the data itself; while the generalized data includes data, knowledge, algorithms, and computational power. The data in LKBT refers to generalized data.
Knowledge is in line with the direction of civilization, the sum of the results of human exploration of the material world and the spiritual world. Algorithm is an accurate and complete description to the solution, and it is a series of clear instructions to solve the problem. The algorithm represents a systematic way to describe the problem-solving strategy. That is to say, it is possible to obtain the required output in a limited time for a certain input. Computational power refers to storage resources and computing resources distributed in different places.
LKBT provides a foundation for the global circulation of data, knowledge, algorithms and computing power, enabling trusted transactions and billing services for data, seamlessly connecting with LEBEN and other knowledge-based computing operating systems and data trading systems.
Realize the True Value of Data with Blockchain Technology
Furthermore, Amos Lang also pointed out that to achieve the true value of data, you must rely on blockchain technology. Blockchain is a decentralized distributed ledger system that can be used to register and issue digital data, title documents, points, etc., and it can transfer, pay, and trade in a peer-to-peer manner. The blockchain system, compared to the traditional centralized ledger system, has the advantages of being completely open, non-tamperable, preventing multiple payments, and never relying on any trusted third party.
Due to the high network delay in the peer-to-peer network, the order of transactions observed by each node may not be exactly the same. Therefore, the blockchain system needs to design a mechanism to agree on the order of transactions that occur within a similar period of time. This algorithm for agreeing on the order of transactions within a time window is called a “consensus mechanism.”
Those to-be-executed transactions and their execution order must reach an agreement if LKBT, pivoted on BFT mechanism of LkbtBFT consensus protocol, achieves all certifying nodes. LkbtBFT completes the verification through the pre-approved authoritative node. Through the preset verification and voter’s list, the block data can be voted and verified in a short time, upon which the block data is agreed, which can reduce the complexity and scope of blockchain transaction verification, improve the information processing capability of blockchain, and support the demand for high throughput processing capability. LkbtBFT consensus protocol strikes a balance between high transaction throughput, low latency and higher energy efficiency.
LKBT is the world’s first blockchain infrastructure designed specifically for data (knowledge, algorithm, computing power) trusted transactions and clearing. The goal is to clearly define the quality standards of data (knowledge, algorithms and computing power), pricing rules , transaction clearing system and system, completely solve the problems of digit (knowledge, algorithm and computing power) in transactions that are difficult to negotiate, difficult to price, difficult to calculate the billing and difficult to clear.
Know more please visit LKBT official website: http://lkbt.pro
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