Frequently Asked Questions

Jumbo Blockchain is a public blockchain scalable in terms of transaction speed and industry-specific solutions. It provides solutions for supply chain monitoring, decentralized banking, and non-fungible tokens (NFTs).
Jumbo Blockchain is scalable in terms of transactions and industry-specific private subchains. Private chains can use the institutional nodes of the main chain, and the main chain is scalable to users from other blockchains.
Supply chain monitoring involves tracking a product's lifecycle from end to end. Jumbo Blockchain provides a transparent end-to-end tracking solution that helps identify counterfeit products and offers granular control over the entire supply chain.
NFTs are non-fungible tokens that represent ownership of digital assets. Jumbo Blockchain focuses on creating NFTs in the AR/VR space and helping underprivileged artists receive lifelong earnings. This step is part of Jumbo Blockchain's ESG initiatives to give back to society.
FAQs for Hybrid Model
The hybrid model of Jumbo Blockchain combines the benefits of both public and private blockchain models. It allows for decentralized transactions while maintaining control over who can participate in the network. This approach offers a balance of security and transparency, making it an ideal solution for businesses requiring high trust and privacy.
Jumbo Blockchain achieves its hybrid model through a unique consensus mechanism that allows for different levels of network participation. This mechanism combines Proof of Authority (PoA) and Proof of Stake (PoS) algorithms to enable network consensus among trusted entities. This approach provides enhanced security while ensuring faster transaction processing and lower energy consumption.
FAQs for NFT
NFT stands for Non-Fungible Token. It is a unique digital asset stored on a blockchain and represents ownership of a specific item or asset, such as a piece of art or a collectible.
Jumbo Blockchain provides a secure and reliable platform for creating and trading NFTs. Its hybrid blockchain model ensures the integrity of the NFTs while enabling fast and efficient transactions. Jumbo Blockchain also supports the development of decentralized applications (dApps) that can leverage NFTs to provide innovative solutions for various industries.
Jumbo Blockchain offers several benefits over traditional e-commerce platforms, including lower transaction fees, faster processing times, and enhanced security. Additionally, Jumbo Blockchain's decentralized platform eliminates the need for intermediaries, which can help reduce the risk of fraud and increase transparency.
Jumbo Chain charges a small transaction fee for each sale made on the platform. The fee is designed to be lower than traditional e-commerce platforms, allowing sellers to keep more of their profits.
Jumbo Blockchain is a highly secure platform that uses blockchain technology to protect user data and transactions. Additionally, Jumbo Blockchain's reputation system allows buyers and sellers to build trust and reduce the risk of fraud.
FAQs for Security
Jumbo Blockchain is highly secure as it uses a unique consensus mechanism, Merkle Tree, and Dynamic Sharding to ensure data integrity on the chain. It also rotates verifier nodes to prevent Sybil attacks and cartelization.
Jumbo Blockchain uses PoS, but it's just one parameter combined with other parameters, such as elapsed time and utilization, to prevent long-range attacks. This step makes the platform highly secure and prevents malicious attacks.
Jumbo Blockchain rotates verifier nodes from a pool of nodes, preventing hackers from taking control of 50% of nodes in the chain. It also uses a secure selection of nodes and a verification process when selecting a validator node, reducing the possibility of Sybil attacks.
Merkle Tree is a data structure that sums up all transactions in a block, generating a digital fingerprint of the set of operations, allowing users to check if a transaction is included. Jumbo Blockchain uses Merkle Tree and Dynamic Sharding to ensure the integrity of data on the chain. It makes Jumbo Blockchain a secure platform for storing sensitive data.
FAQs for Dynamic Sharding
Dynamic Sharding is a technique used to improve scalability in blockchain systems. It involves partitioning data into multiple shards maintained by different subsets of non-malicious nodes.
Jumbo Blockchain creates shards based on transaction types, which restricts data visibility among nodes within a shard and increases efficiency by partitioning the data. The shard committee, or set of validators in the shard, rotates per epoch to avoid shard takeover by a slowly-adaptive adversary.
Jumbo Blockchain ensures that complete transactional data does not lie with any single node. Each node holds the header data/transaction hash of the transactions, while the accurate transactional data remains with the 29 validator nodes that validate it. This step reduces storage requirements considerably and enables all nodes to sync only in the light node.
Jumbo Blockchain combines public and private nodes and picks validator nodes based on the type of transaction. This step serves as the baseline for the shard where data is stored.