Hetachain: The Future of Blockchain

November 10, 2018

About Hetachain

The Blockchain technology, with its ability to simplify peer-to-peer transactions without the need for a third-party intermediary, can disrupt many existing centralized systems and applications, especially in the banking and financial sector. Combined with powerful intellectual contracts, blockchain technology has the potential to change the dynamics of the economy around the world. A truly decentralized ecosystem takes control of several self-serving entities and returns them back to the masses.

Blockchain technology is truly an innovative innovation in how data is created, shared and edited. But despite this, blockchain technology is currently faced with a critical performance issue. For this reason, Hetachain proposed to create the latest Blockchain network architecture, which will be used very easily, more flexibly for users and developers using the blockchain platform, which has very high performance.

A cryptographic algorithm using ECDSA (digital elliptic motion algorithm) with a secp256k1 curve for public-private cryptography. The private key is 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.

Adoption Issues

However, the rate of adoption of block-driven solutions to solve real-world problems and the replacement of existing systems was slow. The root cause may be related to the scalability problem that affects bitcoin, ethereum and other locks. Both Bitcoin and Essential Blokhin experienced problems with network overload at the end of last year. Slow transactions and excessively high fees threatened to defeat the purpose for which the technology was invented. Even decentralized applications (DAPPS), built on currently existing block chains, are usually bogged down with performance problems without giving users the comfort and ease of use they are used to. There is a need for a blockchain, which is designed to provide the benefits of technology, and also scalable enough to cope with the massive traffic of existing systems.

Hetachain: solution

Hetachain intends to solve the above problems and create a high-performance blockchain that is scalable, facilitates easy, smart contract creation and is easy to use by end users. This is achieved through a hybrid consensus mechanism based on delegated share proof (DPoS) and Byzantine resiliency (BFT). The goal is to create a block chain that is scalable, has a shorter block time and high bandwidth. With the Hetachain algorithm, a block is created every 1 second and checked with a single maze on the network.

HetaCoin: cryptocurrency that feeds Hetachain

Own cryptocurrency that feeds and manages Hetachain and provides blocking as a service, HetaCoin has several options for use.

A usage fee charged by users or businesses that intend to use Hetachain as a service.
Transaction fee in HetaCoins.
Awards that will be distributed in HetaCoins.

Hetachain is committed to solving problems that are currently detrimental to current goals and solutions, be it scalability, confidentiality, security or bandwidth. Thanks to its advanced architecture and design, it can become a leader, able to bridge the gap between technology and people and change the emerging landscape.

About Hetacoin - HETA

Hetacoin is the internal cryptocurrency Hetachain, which is used in the Mainchain network. Hetacoin is used as a tool to pay fees for using the Heta Blockchain service.

When a user commits a transaction that exchanges coins or tokens that have been made by Het, he must pay for the predetermined attachment of Hetacoib. Also referred to as transaction costs. This mandatory duty makes Hetacoin a real value for the system. It can also prevent traders from flooding the network with unlimited micro-transactions.

When a user participates in a consensus process or validation from Mainchain and Private Chain, he must be rewarded with a certain Hetacoin. This is also called providing rewards to users. For the level of consensus recognition, it should depend on how much effort the participants have spent on this process.