HETACHAIN - Blockchain Platform for The Smart Economy


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The pace of adoption of blockchain-driven solutions to solve real-world problems and replace the existing systems has been slow. The primary reason can be attributed to the scalability issue that plagues bitcoin, ethereum and other blockchains. Both bitcoin and ethereum blockchains experienced network congestion issues towards the end of last year. Slow transactions and exorbitantly high fee threatened to defeat the very purpose for which the technology was invented.Even decentralised applications (DAPPS) built on the currently existing blockchains tend to be bogged with performance issues, not giving users the comfort and ease of use which they are accustomed to. There is a need for a blockchain that is designed to provide the benefits of technology, and that also is scalable enough to handle the massive traffic of existing systems. Unless resolved fast, these issues will continue to hamper adoption by the masses.

Hetachain intends to resolve the above-stated issues and create a high-performance blockchain which is scalable, facilitates easy, smart contract creation and easy to use by end users. This is achieved by coming up with a hybrid consensus mechanism that is based on the Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT). The intention is to create a blockchain that is scalable, has shorter block time and high throughput. With the Hetachain algorithm, a block is produced every 1 second and validated by a single masternode in the network.

HetaChain is a third generation blockchain platform built with advanced computational capabilities to enable users to develop decentralized applications that do not include censorship, fraud, downtime, or exorbitant third party incurred costs. The platform is equipped with the ability to operate on commercial basis with the aim of preparing the world for the next industrial revolution.

The current first and second Generation Blockchain technology face multiple challenges such as Network congestion, slow transactions, high network fees, and high-energy consumption. HetaChain’s third Generation Blockchain Technology will address these challenges through its blockchain network that is scalable, has increased transaction speed, and is highly efficient in terms of energy consumption. These solutions will drive the blockchain technology towards mass adoption

Hetachain is a revolutionary “hybrid” network of blockchains which intends to resolve the issues and create a high-performance blockchain which is scalable, facilitates easy, smart contract creation and easy to use by end users. This is achieved with a hybrid consensus mechanism that is based on the Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT).

A hybrid blockchain is unique in that it is decentralized while also making it possible to restrict the visibility of information on the network. Thus, a hybrid blockchain is appealing for regulated markets as it offers the benefits of public blockchain and private blockchain together.

There are massive markets characterized by a lot of cross-border money transmissions, trust networks, legal systems, paperwork, settlements, remittances, etc. Examples include the asset and bond markets, infrastructure sector, settlements and Forex. The primary actors in these markets are governments, businesses, and banking and global financial institutions. These entities could benefit tremendously from the efficiency and transparency that blockchain technology allows.

The reason is these entities need to interact with networks governed by centralized laws and regulations, as well as networks around the world governed in different ways. Existing blockchain options either cannot accommodate this or do not offer the full benefit of decentralization. Thus, it’s effectively impossible for entities operating in highly regulated markets to use existing blockchain technology to any significant degree. This is the use case for hybrid blockchain. It represents a platform that can bridge decentralized economies currently using public blockchain with regulated and centralized markets.

HETACHAIN ​​comes with a variety of features that technically focus on easy use 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.

Aim

Hetachain network aims to realize an independent framework designed for usage on a truly industrial scale. The 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. It is an industrial grade next-generation blockchain platform created to power the industrial revolution and allow third-party decentralized applications to operate on any scale.

Hetachain is scalable enough to sustain active operation of thousands of industrial grade DApps at the same time, while the military-grade security of the Hetachain Platform ensures the stability of the network.

In addition, the Hetachain Platform is designed to support an exceptionally high TPS, which is crucial for the new generation commercial network.

HetaChain Ecosystem

The HetaChain ecosystem is made up of smart contracts, the HETA coin, Heta Wallets, Heta App Store, Blockchain feature-enablers, and comprehensive solutions that enhance its functionality in smart banking, healthcare systems, trade, telecommunications, e-commerce, data management, investments, and cash exchanges.

HetaChain operates on the dPoS and BFT hybrid consensus algorithm, which is combined with the double verification process that addresses the scalability issues and facilitates a truly democratized platform suitable for large transactions as well as private users. The platform integrates various features that are designed through a multichain system that is compatible user with either public or private blockchain preference.

HetaChain will also have its own protocol that can communicate between private chains and main chains on the platform’s blockchain system. This will enable the private blockchain’s to submit their data for validation on the platform’s main chain. The private chain will have to pay a certain amount of HETA coins depending on the transaction complexity and size in order to issue transactions on the Heta Protocol – Multichain Platform.

Features of the Platform

Dapp Store with the Pre-built application, users can choose and run their DApp on the HETA Blockchain.

  • Digital Asset Storage

HETACHAIN ​​can save large digital assets to ensure they cannot be stolen or hacked.

  • Consensus

HETACHAIN ​​uses hybrids from DPoS + BFT consensus to maximize the performance of its Blockchain Network.

  • Automatically Generate Contracts

With this, less code is involved, thus helping developers easily generate their own contracts at HETA.

  • Use of user friendly fees

The possibility of a small application running for free on the network.

Why Choose HetaChain?

  • Scalable

HetaChain has the capacity to process thousands of commercial-scale Dapps transactions in inter-block chain communications

  • Secure

HetaChain runs a safe and efficient consensus protocol using the DPoS and BFT hybrid consensus algorithms. In this way, HetaChain is guaranteed against various cyber attacks and other dangerous threats that have pushed decentralized data storage and sharing systems that are very important in the usual technological space.

  • Flexible

HetaChain flexibility is achieved through the ability to freeze and repair damaged applications with general role-based permissions

  • Fast

HetaChain’s unique technology allows fast transaction approval (TPS) without the risk of downtime. This was built to meet the high throughput needs which is one of the commercial attributes of a new generation network that overcomes the shortcomings of other blockchain.

Hetacoin - HETA - Token and ICO Details

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.

Token Details

  • Token: HETA
  • PreICO Price: 1 HETA = 0.01336 USD
  • Price: 1 HETA = 0.0167 USD
  • Bonus: Available
  • Bounty: Available
  • MVP/Prototype: Available
  • Platform: Ethereum
  • Accepting: ETH, BTC, USDT
  • Soft cap: 100 000 000 USD
  • Hard cap: 520 000 000 USD
  • Country: Cayman Islands
  • Whitelist/KYC: Whitelist
  • Restricted areas: USA

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Road Map

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Team

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For more information, please visit:

WEBSITE: https://www.heta.org
WHITEPAPER: https://heta.org/docs/HetaChain_whitepaper_en-ver-1.0.pdf
FACEBOOK: https://www.facebook.com/hetachain
TWITTER: https://twitter.com/hetachain
TELEGRAM: https://t.me/Hetachain_Community
MEDIUM: https://medium.com/@hetachain_blog
REDDIT: https://www.reddit.com/user/hetachain
STEEMIT: https://steemit.com/@hetachain
BOUNTY: https://bitcointalk.org/index.php?topic=5032045.0
LINKEDIN: https://www.linkedin.com/company/hetachain-network/

Author: JigaMola
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1847143


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