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MMAI, a leading innovator in the world of blockchain technology, is pleased to announce that it has received the final patent confirmation for its proprietary Smart Auto Mining (SAM) for the industrial IoT Blockchain Network. The company’s new blockchain, PureChain, is in its final stages of development and is set to debut in Q3-Q4 2023. This patent marks a milestone achievement following the signing of a $2 million contract earlier this year for blockchain development. PureChain, the fruit of this contract, employs a Proof of Authority with Smart Auto Mining (SAM) blockchain consensus mechanism, known for its speed, efficiency, resistance to 51% attacks, and low energy consumption.
In a first of its kind, PureChain implements the Proof of Authority in Square (PoA2) consensus mechanism, reinforcing network resilience with the inclusion of redundant nodes. By boosting the regular PoA algorithm, PoA2 ensures high network availability, security, and cost-efficiency. Also, the PureChain blockchain incorporates SAM Plus (Smart Auto Mining Plus), an enhanced mining system optimized for speed, cost-efficiency, and adaptability. By harnessing advanced algorithms, SAM Plus delivers an accelerated block mining process, reduced energy consumption, and dynamic resource allocation in response to network demand. The MMAI PureChain ecosystem consists of a robust Layer 1 blockchain that delivers core functionalities such as consensus, transaction processing, and data storage. On top of that, it leverages Layer 2 Ethereum blockchain for seamless cryptocurrency transactions and data transfers, boosting the overall functionality of the network. MMAI’s PureChain is set to revolutionize the market with its incorporation of a Layer 2 Ethereum blockchain for cryptocurrency transactions, offering scalability and low transaction fees. This innovative approach facilitates high-volume cryptocurrency transfers, providing rapid and cost-effective transactions for users. Furthermore, an additional Layer 2 blockchain within PureChain focuses on secure data transfer and security measurements, ensuring the integrity of sensitive information within the ecosystem.