The technological innovation of AndusChain lies in the DEB consensus algorithm, which ensures sustainable decentralization. This was developed by Park Sung Jun, the CEO of Andus Co., Ltd. and the head of the Blockchain Research Center at Dongguk University, to fully embody the philosophy and ideology of blockchain. Park Sung Jun is also recognized as one of the top blockchain experts in Korea.
Existing public permissionless blockchain platforms primarily use consensus algorithms such as PoW (Proof of Work) and PoS (Proof of Stake). However, the mining probability of PoW is determined by the miner’s computing power, and PoS’s by the miner’s stake.
“Our goal was to achieve sustainable decentralization by ensuring that all miners have an equal probability of mining, regardless of their conditions such as computing power or stake,” shared Park.
AndusChain prides itself on realizing the philosophy and ideology of blockchain more accurately than existing public permissionless blockchains through its features. In particular, they have conceptualized the sustainability of decentralization as a “Blockchain Fairness Measure” and quantified it. From this concept, AndusChain was modeled, and it confidently stands as the blockchain that maximizes this measure of fairness.
After more than a year of research starting in 2017, AndusChain successfully developed the DEB consensus algorithm, designed to maintain sustainable decentralization. It has been operational since May 1, 2021, following three years of development, operating smoothly without any interruptions, and has remained impervious to hacking or compromise.
Moreover, through this, its performance has been optimized. Currently, it is 20 times faster than Ethereum, and the fee is less than 1/1000. Within this year, it is planned to achieve a speed of 1,000 TPS (transactions per second) for the first time as a public permissionless blockchain.
“So far, we have formed partnerships with over 20 companies and are promoting the activation and expansion of the AndusChain-based Dapp ecosystem,” explaned Park. “In Asia, we have signed a cooperation agreement with a licensed blockchain company in the Philippines, where cryptocurrency is legal, and are promoting web 3.0-based gaming and e-commerce businesses.”
Above all, AndusChain’s vision and goal is to establish a low-cost startup ecosystem based on blockchain. This means providing all youth chance to launch a blockchain-based business affordably, offering tangible and concrete hope in the emerging blockchain landscape.
To achieve this vision, AndusChain is actively supporting youth-driven blockchain startups, facilitating growth, attracting investments, and enabling listings through a collaborative project with the Daegu Metropolitan City Public Agency for Social Service.
Notably, this project with the Daegu Metropolitan City Public Agency for Social Service offers free blockchain-based startup ecosystem services, aiming to generate employment opportunities for Daegu’s youth. This aligns with AndusChain’s commitment to social corporate responsibility. Moreover, since 2017, CEO and Professor Park Sung Jun has held over 1,000 lectures and appeared on public TV broadcasts to raise awareness of blockchain among the general public and revitalize the blockchain ecosystem in Korea.
“We believe that companies founded through such business collaborations and inspired by the many lectures targeting the general public sufficiently contribute to the realization of the AndusChain ecosystem community,” concluded Park.