Pchain ICO Review


The first native multichain system that supports EVM in the world Making large scale blockchain applications possible

Pchain Score

PCHAIN is the first native multichain system in the world that supports Ethereum Virtual Machine (EVM), which consists of one main chain and multiple derived chains.

The project aims to create the possibility of building high transaction through DApps on the platform. In response to the defect of single-chain methods which support smart contracts, a multi-chain approach is proposed to improve the support for DApps. Pchain’s solution can be divided into 5 main points:

  • Every DApp has its own chain, making browsing and restoring transactions an easier process and increasing overall efficiency.
  • PChain will support large-scale transactions. Multi-chain solution means high traffic would no longer affect transaction time and price as significantly as witnessed today..
  • Pchain offers a new consensus concept that would save power usage and enable scalable growth. All nodes can be divided into many small groups and each group has a consensus on one chain.
  • Pchain will be expandable in a straightforward way due to a new side chain being created for each new DApp.


review video



Full breakdown

Pchain ICO Review: Token Metrics & Usecase

PAI is a non-refundable functional utility token which will be used as the unit of exchange on the PCHAIN Network for a secure mode of payment and settlement between participants who interact within the ecosystem on the PCHAIN Network.

When you create a new DApp, e.g. a new smart contract, a side chain will be created and the process will develop as followed: 

  • Invocation of Smart Contract for Non-native Token – When the toolkit provided by PCHAIN invokes the smart contract of PCHAIN with a certain number of Tokens in this blockchain, the exchange rate between the Token and PAI will be acquired by the toolkit through the smart data in the Knowledge Graph. When the convertible PAI is deemed enough to run the invoked smart contract, the toolkit will transfer the corresponding number of Tokens to PCHAIN and consume the corresponding quantity of PAI to invoke the smart contract. 
  • Consensus of Sharding – PCHAIN supports sharding at different levels. POS consensus mechanisms can be selected to improve operation efficiency and storage.
  • Knowledge graph and Smart data – PCHAIN writes standard RDF triples into the built-in blockchain knowledge base to form Smart Data. The goal of PCHAIN Smart Data is to generate valuable data, filter the noise , and integrate itself into the smart contract.
  • Supporting EVM – EVM completes the logic of business and takes control of all instructions as a method to prevent being compromised by malicious code. At the same time, transparent calculations of costs of calling smart contracts are made by implementing Turing complete Solidity. 

Green lights

  • EVM-compatible, multi-chain protocol allows for migration of existing dApps from the Ethereum network to take advantage of the higher versatility that a multi-chain system offers.
  • Developers can also more easily transition toward building dApps specifically for PChain using the same coding language in which they are already proficient.
  • Multiple institutional partnerships, including one with the China Federation of Logistics and Purchasing (CFLP), which will facilitate connections between Chinese industry players and Pchain.
  • Testnet has been released one month ahead of schedule.

red flags

  • No official enterprise partnerships yet.
  • No ecosystem roadmap: Pchain has released little to no information regarding their planning on how to build their protocol.
  • Inactive Github.
  • PChain postponed the core system release to March 2019 and aims to launch the full system during September 2019, giving lots of time for competition to appear.
  • Token metrics could be better for such a high-level team.
  • Most content in the media section of the website is not related to Pchain.
  • Users banned from telegram channel for asking questions regarding MVP and team.
  • Presentation video very generalized, doesn’t approach Pchain in detail.
  • Most team and advisors have no linked in.
Full overview

Pchain ICO Review

Pchain Key Aspects

As the first blockchain that supports Smart Data, it is important to dive deeper into Pchain’s key innovative aspects:

  • Large-scale transactions – “When the accumulation of transactions of multiple DApp results in a large overall scale, the scale of the corresponding side chain is relatively small.  Now every side chain grows itself without affecting the main chain and other side chains. When the scale of transactions of single filter is large, the computing power of the whole network focus on the chain because of incentive mechanisms to ensure blocks can be produced in time and transactions can be completed aș soon as possible.” This means that in Pchain, unless there is a wide range of DApps working with a lot of transactions being processed in each at the same time, the system will not suffer any congestion.
  • New consensus – “Under the original  POW  mechanism of the public blockchain, every node mines and thus there is a high probability to produce new blocks at the same time.” However, the probability of a fork is also high.  Under the new consensus mechanism, a group is formed for consensus and the probability of fork is reduced as intensive CPU operation is not needed anymore, resulting in a significant power saving.  “All nodes can be divided into many small groups and each group has a consensus on one chain, which is the concurrent consensus.  Besides, groups have an intersection, i.e.,  a node may join consensuses of many chains.   Therefore,  the  computing power is fully utilized and the growing of PCHAIN is smooth.”
  • Smart contract update support – Through previously mentioned methods, smart contracts can be continuously updated to ensure efficiency and security.
  • High fault tolerance –  When  errors  occur  in  a invoked,  the main  chain  and other side chains are not affected and only the erroneous side chain needs to be corrected.
  • Expansibility –  It is easy to deploy an expanding side chain with each new DApp .  Under the consensus mechanism, the growing of a new chain doesn’t burden the system significantly.


ICOs Found



Really good advisors with deep connections to blockchain and the industry itself in China, including:

  • Ken Huang, Chinese Electric Academy Blockchain Expert Committee Member.
  • Danial Wang, Senior Director & Blockchain Researcher of Zhongan Technology.
  • Howard Yuan, CFO of IBM China, a stout early investor.
  • Bo Lan, Founder of GooCoin.


Medium - High

Core team of 6 specialists with apparent vast experience and knowledge, including blockchain. 

CEO invented the 1st International Blockchain patent from China, co-founded ChinaLedger.

Suspicious linked in profiles. CTO profile doesn’t have connections, no picture, claims to have been Shangai Wanchain CTO but there’s no mention of him anywhere.





  • Hardcap of 50.000 eth a bit for this kind of project considering the market situation.
  • 35% sold indicates low circulating supply, usually good for short term investment strategies.
  • Token Usecase is strong, as it involves mining. Usually a positive sign for short term and long term investments.


Feng Cao

Founder and CEO

Lv Steven


Zhanfeng Ma

Lead Software Developer

Kevin Zheng

Data Management

Zhihong Chong

Knowledge Graph (Developer)

Zhang Zhenjie

Query Speedup and Indexing (Developer)




Despite having a CEO is vast prior experience on blockchain products, lack of a prototype doesn’t help.

The Pchain protocol is an impressive and highly innovative concept when considering EVM support, and the team behind it seems to present more than adequate capabilities to bring the project to life.

However, certain red flags raised in this review put Pchain in a limbo between potentially being among the top ICOs of 2018, or another failed initiative in the ICO space.











All information including our "Grading system" rating, is provided merely for informational purposes. ICO DOG does not provide investment advice (read more).



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