Traversing the world of human evolution, at the core of human existence is observed the deep craving to evolve and ultimately master his world. As man seeks to evolve so are his ideas and innovations birthed with progressive cycles of noticeable evolution.
The core driver of evolution for man has always been technology birthed through the knowledge and applications of science. Within the technological spheres have risen industry giants altering the traditional means of doing business and governing societies, sharply becoming the center of other societal, business and developmental evolution. We see this in Silicon by Valley giants such as Facebook, Twitter, Uber, and Amazon etc. to mention the least.
But a gulf between man's evolution and true democratization giving the man the true power it seeks birthed the idea of a decentralized system and economy of things which the rising tech giants enshrined in core centralized ideals could not deliver.
The ineptitude of these centralized systems resulted in the first digital distributed ledger technology DLT upon which the first cryptocurrency, bitcoin was built upon - Bitcoin network. This network ushered in a once imaginary ideal of being able to transact things of value devoid of censorship, facilitating peer to peer transactions across borders in a fairly anonymous way. This, of course, was a marvel of an idea and a disruptive new way of understanding how our Finance and business should be understood and conducted as it ensures borderless transfer of economic benefits. It was Blockchain 1.0
But as every precursor in any technological revolution have shown, the Bitcoin Network wasn't rid of blind spots and inherent problems which includes network congestions resulting in rising transactions charges, slow block confirmation times and a governing consensus protocol prone to splits resulting in the emerging blockchain and community splintered, not to also mention the energy-hungry Proof-of-Work POW consensus protocol which makes it not fit for mainstream adoption where cost and transactions confirmation delay result in losses of billions of dollars which most corporate entities find unrealistic and foolhardy a risk to take in their businesses even with the groundbreaking second layer solutions such as Lightning Network and Segwits built into it.
These inherent issues including its restriction to only being able to handle financial use cases necessitated the emergence of a better system built upon the core principles of decentralization. This new Network became what is now called Blockchain 2.0
The Blockchain 2.0 is the Ethereum Network which is another public blockchain built with the underlying principle of mass adoption. It was developed after several types of research on the Bitcoin blockchain earlier introduced was piloted. Developers after thorough research and tests launched the Turing complete Ethereum blockchain capable of deploying decentralized applications functioning through the principle of smart contracts.
This allowed for the issuing of custom tokens on its blockchain incapable of being deployed on the Bitcoin blockchain as well as scripting functionalities beyond the basic Bitcoin Network capabilities of financial use case. With mass adoption in view, there appears to be a latent flaw in this resulting technology. It was only capable of processing and filling blocks at a peak transactions speed of 15 transactions per second (tps).
This, of course, is a far cry and laughable feat when compared to the VISA’s throughput of 45,000 tps accepted to being the industry’s standard. Being a first mover in the area of Decentralized Applications (dApps) and touting to have been the perfect substitute for centralized solutions such as VISA, a mere Cryptokitties (a dApp built on Ethereum network) was able to bring down the Network to its knees just with its users interacting with its interface. Could this then be the solution to the problems of true decentralized democracy? Even with newer solutions proposed such as sharding and off chain solutions proffered as the solutions to its latent flaws, it seems the road to mass adoption is still not within reach. This inability to meet mass and industrial appeal is why a better Network capable of serving the vast majority of industrial applications is imperative.
This brings us to HETACHAIN. With an in-depth research and brilliant team we propose a new horizon and phase to the blockchain era, Blockchain 3.0. HETACHAIN was founded, positioned as an easy-to-use, flexible for the user, the developer (easy to make the smart contract), and high-performance blockchain platform. A blockchain built with enterprise-grade adoption in mind, HETACHAIN is a hybrid of a more effective dPOS (this claim focuses on the throughput of a blockchain when compared to POW and POS) and Byzantine Fault Tolerance (BFT) conceived to maximize system performance.
Since the inception of Blockchain, developer communities have been grappling with the Scalability trilemma. HETACHAIN comes with an array of features technically focused on easy usage while also giving the decentralized developer community the ability to not only being able to deploy smart contracts to run decentralized applications (dApps), it addresses the inherent flaws of its predecessor blockchain networks in the area of governance, systems throughput and mass adoption.
With its hybrid DPoS + BFT consensus algorithm, the agelong scalability trilemma is being addressed with HETACHAIN pushing forth a truly democratically governed blockchain network as it is also striking a balance between the throughput of its system.
A better version of the EOS network where only elected 21 supernodes to act as block producers theoretically proven to be prone to collusion among the supernodes, HETACHAIN is governed by a more decentralized system of 33 Masternodes stochastically programmed of having equal chances of filling and producing the next block in the chain. This assures an extremely high throughput while ensuring democratized decentralization in the network which has been the major bane of other networks trying to solve the scalability trilemma.
Achieving mass adoption is just one step away with HETACHAIN as it builds ease of use with a better network capability thus allowing industry grade computations to run on its network.
We at HETACHAIN commit that our Blockchain system can serve all industries. After release beta version, HETACHAIN plan to pilot in Dubai Smart City.
1. Dapp Store with the Pre-built app, users can select and get their DApp running in HETA Blockchain.
2. Digital Assets Storage. HETACHAIN can store any big digital assets to make sure it cannot be stolen or hacked.
3. Consensus. HETACHAIN uses a hybrid of DPoS + BFT consensus to maximize the performance of its Blockchain Network.
4. Auto Generate Contract. With this, Less code is involved, thereby helping developers easily generate their own contract on HETA.
5. User-friendly cost usage. The possibility of small applications to run for free on its network.
