HETACHAIN - Blockchain technology with its ability to facilitate peer-to-peer transactions without the need for third-party intermediaries can interfere with existing centralized systems and applications, especially in the banking and financial services sectors

November 12, 2018

About Hetachain

The Blockchain technology with its ability to facilitate peer-to-peer transactions without the need for third-party intermediaries can disrupt many existing systems and centralized applications, especially in the banking and financial services sectors. Combined with the power of smart contracts, blockchain technology has the potential to change economic dynamics throughout the world. A truly decentralized environmental system will take control of several self-serving entities and return them to the masses.

Blockchain technology is indeed innovative innovation in how data is created, shared and edited. But even so, blockchain technology is currently facing a critical problem about its performance. For this reason, Hetachain proposes to create the latest Blockchain network architecture that will be used very easily, more flexibly for users and developers using a very high performance blockchain platform.

Cryptographic Algorithm Uses ECDSA (Digital Elliptic Motion Sign Algorithm) with secp256k1 curves for public-private cryptography. Private key is 256 bit random data.

The HETA address associated with this private key is the last 160 bits of SHA3–256 (Keccak) hash from the public key

Challenges in Adoption

However, the speed of adoption of blockchain-driven solutions for solving real-world problems and replacing existing systems has been slow. The main reason can be attributed to scalability problems that interfere with bitcoin, ethereum and other blockchain. Both the bitcoin and ethereum blockchain experience network congestion problems towards the end of last year. Transactions are slow and very high costs threaten to defeat the purpose for which technology was created. Even decentralized applications (DAPPS) that are built on the existing blockchain tend to jam with performance issues, not giving users the comfort and ease of use that they are used to. There is a need for a blockchain that is designed to provide technological benefits, and that is also quite scalable to handle massive traffic from the existing system.

Hetachain: The Hetachain solution

intends to solve the problems mentioned above and make a high-performance scalable blockchain, facilitating easy and smart contract making and easy to use by end users. This is achieved by coming up with a hybrid consensus mechanism based on Delegated Proof of Stake (DPoS) and Byzantine Error Tolerance (BFT). The goal is to make the blockchain scalable, have shorter block times and high throughput. With the Hetachain algorithm, a block is generated every 1 second and validated by one masternode in the network.

HetaCoin: Cryptocurrency which is the fuel of Hetachain.

The original cryptocurrency that moves and drives Hetachain and allows blockchain as a service, HetaCoin has many use cases.

Usage fees are paid by users or companies that intend to use Hetachain as a service
Transaction fees must be paid at HetaCoins
Prizes will be distributed at HetaCoins

Hetachain aspires to resolve problems that currently disrupt current blocking and solutions whether it is scalability, privacy, security or throughput. With its latest architecture and design, it has the potential to emerge as a leader who can bridge the gap between technology and humans, and change the landscape that emerges.

About Hetacoin - HETA

Hetacoin is the Hetachain internal crypto currency 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, he must pay for mount Hetacoib previously determined. Also called transaction costs. This mandatory fee makes Hetacoin have real value for the system. This can also prevent traders from flooding networks with unlimited microtransactions.

When a user participates in a consensus process or validation of the Main Chain and Personal Chain, he must be rewarded with certain Hetacoin. This is also referred to as Giving appreciation 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.