HETACHAIN – The Biggest Blockchain 3.0 Network
Bitcoin, which is the first blockchain generation, has just celebrated its 10th year since its birth in 2008. In those 10 years, a lot has happened to Bitcoin and blockchain, even many projects have emerged, both to utilize blockchain technology and solve the main problems faced by cryptocurrency in general. However, until now, these problems have not been resolved, thus hindering the use of this technology in everyday life.
The main problem faced by cryptocurrency is transaction capacity and security that is still unsafe. Bitcoin, for example, can only do 7 transactions per second (TPS), a very small value compared to Visa which is capable of carrying out transactions of up to 50,000 transactions per second. On the other hand, the existing blockchain network cannot yet be used as the optimal development of dApps.
HetaChain is a new generation blockchain 3.0 platform. HetaChain can be used extensively to help governments, businesses and organizations, and make dApps such as the banking industry, e-commerce industry, IoT industry, health industry, robotics industry, etc.
HetaChain is a high-performance blockchain platform that will provide convenience and flexibility for both users and developers. Users can choose and run dApp on the Heta Blockchain via the dApp store provided by HetaChain. In addition, users can also build their own applications on HetaChain just by dragging and dropping, without having to have knowledge about blockchain development.
The consensus is the core of the blockchain which is the most important factor affecting the performance, output, and scalability of the blockchain. At present, there are four popular consensus algorithms on the blockchain. Each consensus has its own advantages and disadvantages and is used according to the purpose of the blockchain itself.
1. Practical Byzantine Error Tolerance (PBFT)
2. Proof of Work (PoW)
3. Proof of Stake (PoS)
4. Delegated Proof of Stake (DPoS)
HetaChain will use two consensus algorithms, namely Delegated Proof of Stake (DPoS) and Byzantine Error Tolerance (PBFT). Both of these consensuses are used because they have advantages over another consensus, namely high throughput, little effort, and chains completing each block. The new block is produced every 0.5 seconds by one master node from 33 master nodes selected through voting. In addition, transaction capacity can reach up to millions of transactions per second.
HetaChain Blockchain Design
HetaChain is a multi-chain blockchain system that can be used for public blockchain and private blockchain. The main chain is the core of HetaChain which functions as a public blockchain. In HetaChain, each user can develop their own token and all public tokens will be stored in the main chain. Development of tokens is done through smart contracts. Smart contracts are high-level programming abstractions compiled into the Heta Virtual Machine (HVM). Smart contract templates are gradually formed so that they can support various configurations that are suitable for various scenarios. Smart contracts will be distributed to the main chain to be executed and will determine the format of each transaction in the main chain. The main chain can produce a lot of private blockchain for personal use.
A private chain is a chain produced from the main chain that functions as a private blockchain. To be able to join and use a private chain, users must install the Heta SDK package and Heta wallet. Heta SDK aims to establish a connection with the bridge protocol and send information to the main chain, while the Heta wallet is used to pay usage fees from the private network to the main chain based on the complexity of the total block making and block number. Private chains can create their own tokens for use in private chains. In addition, the private chain also supports smart contracts that function in private chains. This smart contract cannot be outside the private chain.
In the HetaChain ecosystem, communication between the main chain and the private chain is very important. Bridge Protocol is a protocol that connects between the main chain and the private chain. The Bridge Protocol provides secure communication and makes evidence that can be verified cryptographically, both in the main chain and in the private chain. The bridge protocol will ensure transparency and security throughout the Heta Blockchain.
HetaChain Token (HETA)
Token Symbol: HETA
Total Supply: 60 Billion
1 HETA = 0.0167 USD
Soft cap: 100 Million USD (reached on a private sales)
Hard cap: 520 Million USD
Public sale date: 11 November – 10 February 2019
HetaChain raised over 130M USD on private sales. Public sale is LIVE now, with 20% bonus. For more information, visit HETA website and download the whitepaper.
ANN Thread: https://bitcointalk.org/index.php?topic=5043007
BCT Author Link: https://bitcointalk.org/index.php?action=profile;u=2256570