Blockchain is a potentially groundbreaking innovation in how data is created, shared, and edited. Through an immutable ledger and consensus algorithms that ensure the integrity of the blockchain, it is possible to create a “trustless” type of information; a type that is truly decentralized and transparent.
Currently, blockchain is mostly used as a peer-to-peer cryptocurrency. However, it has other numerous potential applications in several industries such as financial instruments, energy and resource management, social networking, big data and IoT applications, governance protocols, advertising, and marketing. honestly speaking blockchain technology is literally changing the way we created, share and store data.
The major reasons why blockchain is used include the following Decentralization, User-controlled networks, Reduced transaction costs, security of data, the integrity of data and lot more. But the current blockchain posses several problems such as low TPS Performance, Poor Security, High Transaction Fees, Difficulty in Developing
DAPPs.
If we are going to achieve the full power of blockchain most of this problem has to be solved. Recently I can across a project that is going to create the next-gen blockchain which is free from the problem facing our current blockchain. its called High-performance blockchain (HPB for short).
HPB is a new blockchain architecture, positioned as an easy-to-use, high-performance blockchain platform. It aims to extend the performance of distributed applications to meet real-world business needs.
HPB wants to solve the problem of scaling and meet true business needs by creating a platform designed to handle millions of transactions per second. It will consist of both hardware and software architecture, placing it ahead of current platforms which seek to solve the same problem through software-only solutions.
With a target of 1 million TPS and a 3-second confirmation time, HPB aims to become the standard for all major business applications in industries that require handling of billions of data points with extremely low latency.
here are some of the technology HPB wants to use for creating a high-performance block or what I prefer to call the next generation blockchain.
Blockchain Offload Engine (BOE). The BOE is a heterogeneous processing system, including hardware, firmware, and corresponding matching software. To achieve high performance and high concurrency computing acceleration, BOE combines CPU serial capabilities and parallel processing capabilities of FPGA/ASIC chips.
For security considerations, every transaction and block broadcast in the network requires a signing and verification process. ECDSA, the Elliptic Curve Digital Signature Algorithm, is currently the most mature and widely used digital signature algorithm in the industry.
When data transmission is performed between nodes, an encrypted channel needs to be established through a key exchange. To make the key exchange random number completely unpredictable, a hardware random number generator is employed to protect the reliability of the encrypted channel.
for more of the cool concept that HPB want to employ in creating a well scaled high performance blockchain please read their whitepaper at http://www.gxn.io/files/hpb_white_paper_en.pdf
In truth HPB is integrating both hardware and software to achieve high-performance blockchain. for more information on how HPB wants to achieve high performance in blockchain visit their website at
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