ICO Review: Hetachain Project
Blockchain Technology with its ability to facilitate peer to peer transactions without the need for a third-party intermediary can disrupt many existing centralised systems and applications, especially in the banking and financial service sector. Combined with the power of smart contracts, blockchain technology has the potential to change the dynamics of economies around the world. A genuinely decentralised eco-system would take the control away from a few self-serving entities and restore it back to the masses.
Blockchain technology is indeed an innovative innovation in how data is created, shared and edited. But despite that, blockchain technology is currently facing a critical problem about its performance. For this reason, Hetachain proposed to create the latest Blockchain network architecture that would be used very easily, more flexible for users and developers using the blockchain platform that has very high performance.
Cryptographic Algorithm Using ECDSA (Digital Elliptic Motion Sign Algorithm) with secp256k1 curve for public-private cryptography. The private key is a 256 bit random data.
The HETA address associated with this private key is the last 160 bits of the SHA3-256 (Keccak) hash of the public key
Across the world of human evolution, the essence of human existence is to observe the deep desire to evolve and ultimately dominate the world. When humans try to evolve, so do their ideas and innovations that are born with a real progressive cycle of evolution.
The core driver of evolution for humans is technology that is born through knowledge and application of science. Within the sphere of technology has increased the industrial giants that change traditional ways of doing business and managing society, sharply becoming the center of the evolution of society, business and other developments. We see this in Silicon by Valley giants like Facebook, Twitter, Uber, and Amazon etc. to name the fewest.
But the gulf between human evolution and true democratization that gives people true strength is attempted to give birth to the idea of a decentralized system and economy from things that are grown by technology giants enshrined in the centralized ideals of the core.
The lack of this centralized system resulted in the first digital distributed digital book technology where the first cryptocurrency, bitcoin was built on – the Bitcoin network . This network ushered in a dream that was once imaginary to be able to transact things that were value uncensored, facilitating peer to peer transactions across borders in a fairly anonymous way. This, of course, is an extraordinary idea and a new, confusing way to understand how our finances and business must be understood and implemented because they ensure unlimited transfer of economic benefits. That’s Blockchain 1.0
But because every predecessor in the technological revolution has shown, the Bitcoin Network does not eliminate the blind spots and inherent problems that include congestion networks that result in increased transaction costs, slow block confirmation times and consensus protocols that govern fragility-prone resulting blockchain and fragmented communities, not also cited the energy-hungry Proof-of-Work consensus protocol that made it unsuitable for mainstream adoption where delays in payment of fees and transactions resulted in billions of dollars in losses that most corporate entities found unrealistic and indiscriminate. risk to take their business even with innovative second-layer solutions such as Lightning Network and Segwits built into it.
These inherent issues including restrictions only to be able to handle financial use cases require the emergence of a better system built on the core principles of decentralization. This new network is what is now called Blockchain 2.0
The Blockchain 2.0 is Ethereum Network which is another public blockchain built on the principles that underlie mass adoption. This was developed after several types of research on the introduced Bitcoin blockchain were tested. Developers after thorough research and testing launched the complete Turing Ethereum blockchain that was able to deploy decentralized applications to function through the principle of smart contracts.
This makes it possible to issue special tokens on the blockchain that cannot be used on the Bitcoin blockchain as well as scripting functions beyond the basic Bitcoin Network capabilities of financial use cases. With the adoption of the masses in view, there seems to be a latent weakness in this technology. It is only capable of processing and filling blocks at peak transaction speeds of 15 transactions per second (tps).
This, of course, is a far-reaching and ridiculous achievement when compared to the VISA throughput which reached 45,000 tps which was accepted as an industry standard. Being the first driver in the field of Decentralized Applications (dApps) and touting has become a perfect substitute for centralized solutions such as VISA, sheer Cryptokitties (a dApp built on the Ethereum network) is able to lower the Network to its knees with its users interacting with its interface. Could this be the solution to the problem of decentralized democracy? Even with newer solutions proposed such as sharding and off-chain solutions offered as solutions to its latent weaknesses, it seems that the road to mass adoption has not yet been achieved.
This brings us to HETACHAIN . With in-depth research and a brilliant team we propose new horizons and phases into the blockchain era, Blockchain 3.0. HETACHAIN was founded, positioned as easy to use, flexible for users, developers (easy to make smart contracts), and high performance blockchain platforms. A blockchain built with enterprise-level application in mind, HETACHAIN is a hybrid of a more effective dPOS (this claim focuses on the throughput of the blockchain when compared to POW and POS) and Byzantine Error Tolerance (BFT) is prepared to maximize system performance.
Since the beginning of Blockchain, the developer community has grappled with Scalability trilemma. HETACHAIN comes with a variety of features that are technically focused on easy usage while also giving a decentralized developer community the ability to not only be able to implement smart contracts to run decentralized applications (dApps), it handles weaknesses inherent in its predecessor blockchain network in the field governance, system of throughput and mass adoption.
With the DPoS + BFT consensus hybrid algorithm, the agelong scalability trilemma being handled with HETACHAIN encourages blockchain networks that are truly democratically managed because they also balance the system throughput.
A better version of the EOS network where only 21 supernodes were chosen to act as block producers which theoretically proved vulnerable to collusion among supernodes, HETACHAIN was governed by a more decentralized system of 33 Masternodes programmed stochastically to have equal opportunities to fill and produce the next block in the chain. This ensures very high throughput while ensuring democratic decentralization in networks that has become the main condemnation of other networks trying to break the scalability trilemma.
Achieving mass adoption is only one step with HETACHAIN because it builds ease of use with better network capabilities so as to enable industrial class calculations to run on its network.
We at HETACHAIN are committed that our Blockchain system can serve all industries. After releasing the beta version, HETACHAIN plans to conduct a trial in Dubai Smart City.
Feature Summary of HETACHAIN NETWORK:
1. Dapp Store with the Pre-built application, users can choose and run their DApp on the HETA Blockchain.
2. Digital Asset Storage. HETACHAIN can save large digital assets to ensure they cannot be stolen or hacked.
3. Consensus. HETACHAIN uses hybrids from DPoS + BFT consensus to maximize the performance of its Blockchain Network.
4. Automatically Generate Contracts. With this, less code is involved, thus helping developers easily generate their own contracts at HETA.
5. Use of user friendly fees. The possibility of a small application running for free on the network.
Q1 & Q2 2018>
Designing HetaChain Writting Whitepaper.
Q2 & Q3 2018>
Mainchain development UI display blockchain data Wallet demo Hetachain ICO event HetaChain ICO private sale.
HetaChain block explorer demo Hetachain test net (test version) HetaChain ICO public sale starting Listing HETA token on exchange Privatechain development.
Web portal release Dapp development Smart contract development Wallet update (multi-Token) HetaChain test net launch.
Prebuilt Dapp Auto create Dapp HETA fee calculation portal HetaChain block explorer(update) Hetachain mainnet (test version)
Hetacoin Hetachain mainnet launch.
Token Sales Detail:
Hetacoin is a Hetachain internal crypto currency that is used on the Mainchain network. Hetacoin is used as a tool to pay usage fees using the Heta Blockchain service.
When a user makes a transaction exchanging coins or tokens that have been made by Heta, then he must pay for the pre-defined mount Hetacoib. Also called transaction costs. This mandatory fee makes Hetacoin have real value for the system. This can also prevent traders from flooding the network with unlimited microtransactions.
When a user participates in a consensus process or validation from the Mainchain and Private Chain, then he must be rewarded with certain Hetacoin. This is also referred to as Giving awards to users. For the level of consensus appreciation, it must depend on how much effort is spent by the participants in carrying out the process.
PreICO Price: 1 HETA = 0.01336 USD
Price: 1 HETA = 0.0167 USD
Accepting: ETH, BTC, USDT
Soft cap: 100 000 000 USD
Hard cap: 520 000 000 USD
Country: Cayman Islands
Restricted areas: USA
For more information:
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1939693