HETACHAIN — Blockchain Platform

hanna777 (26)in #blockchain • 6 years ago

Introduction

HETACHAIN is a super-fast DPoS + BFT hybrid blockchain network focused on addressing the age-long scalability dilemma and pushing forth a truly democratically governed platform built for industry scale transactions while also uniquely designed for private users. With its array of features integrating a blend of public and individual adoption-focused design through a multi-chain system, users can use HETACHAIN for both public and private blockchain preference.

The HETACHAIN ecosystem consists of smart contracts, Hetacoin, hot and cold Heta Wallets, Heta App Store, Blockchain feature-enablers and comprehensive solutions that enhance its applicability in smart banking, healthcare, e-commerce, trade, telecommunications, data management, investment, cash exchange, and remittance.

Network congestion, slow transactions, high network fees, and high-energy consumption have become synonymous with 1st and 2nd Generation Blockchain technology. HETACHAIN’s 3rd Generation Blockchain Technology addresses these by solving the problems of scalability, increased transactions per second and energy efficiency, and bringing Blockchain technology closer to mass adoption.

Hetachain is an advance, high- performance blockchain 3.0 built with industrial scale computational capabilities that immutably allows users to deploy decentralized applications devoid of censorship, fraud, downtime or third party incurred costs. It’s laden with the ability to operate on a full commercial basis focussed on ushering the world into the next Industrial Revolution 4.0.

Blockchain platforms have exploded in popularity over recent years — but how many are solutions that don’t work, for problems that don’t exist?

Instead of focusing on technology, we asked our business partners about the challenges they face. Then we surveyed the state of the art in blockchain and chose the solutions that best addressed those challenges.

The result is HetaChain: a blockchain with broad applications across government, business, and communities.

Scalable

One block at a time, the data stored on a blockchain grows without an upper bound to file size. We implement side chains and connections to 3rd party offchain databases, so that businesses can manage the size of their ledger.

Secure

Only Hetachain’s main network is necessarily public. Our side chains can be either public or private, ensuring data is kept confidential when the need arises.

Flexible

Distributed applications built on Hetachain can be frozen or updated with our flexible role-based permission system, making it easier to develop for our platform. Dapps can be distributed in our Dapp Store, or quickly put together using our drag-and-drop Dapp Builder.

Fast

We use a Byzantine fault tolerant, delegated proof of stake (DPoS+BFT) consensus model to provide a high number of transactions per second without compromising security. We plan to have a limit of 33 delegate nodes to keep consensus time low.

Heta Protocol — A Multichain Platform

Hetachain’s sidechains allow you to easily deploy an enterprise blockchain, hosted however and wherever you want.

Our Bridge Protocol allows you to securely submit data to the main chain for verification, paying HETA tokens for this service.

In practice, this allows you to move your application to its own blockchain so it benefits from the full speed of the network, without sharing resources with other applications. At the same time, you benefit from the immutability and infrastructure our public Main Net provides.

Our main network will be able to run smart contracts written in C++, Solidity and others. This means there is already an established community of developers and documentation to get started building your application.

Understanding Problems Before Building Solutions

Many blockchain projects promise to ‘revolutionize’ or ‘disrupt’ industries with new, yet to be developed technologies. This is the last thing we want to do!

At Hetachain, we’ve focused first on building a network of businesses willing to adopt blockchain technologies. Then we asked them what features it would need to have, and assembled the best set of currently existing technologies that provide those features. We want evolution, not revolution.

Global Network
Through our strategic partnerships with investment companies, we’ve inherited relationships with their subsidiaries. This is an opportunity to build a platform that spans multiple industry verticals including government, retail, payment, insurance, F&B, and real estate.

Business Optimization
By tapping the expertise of our global network, we will build a blockchain platform that provides a rich set of solutions that apply to a wide variety of businesses.

Partnerships
Our network across multiple industries provides us with committed early adopters of our platform, solving the chicken-and-egg problem in platform development. In other words, we’ve already attained the critical mass required for a strong business ecosystem on Hetachain.

The HETA Token

HETA is the native token of the HetaChain Main Network. All network usage fees are paid in HETA.

Transaction fees on Hetachain are paid when sending HETA, when sidechain data needs to be validated by the main network, or when smart contracts need to be called on the main network.

HETA is received by users if they participate in the consensus or validation process of either the Main Network or one of the sidechains. These processes are distinct due to our use of delegated proof of stake.

The fees and reward for validation will depend on the amount of processing required, to ensure all sidechains can obtain fair use of the main network.
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