HETACHAIN - A Blockchain Platform for The Smart Economy

PREAMBLE

A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

While this revolution is gaining wide acceptance, Hetachain, 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 has arrived.

"In case you're a little hazy, 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."

With that being said, 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.

But before we go any further, please check out this video presentation to get even more acquainted

Now that I have your attention, let’s get right to it.

What exactly is HETACHAIN?

As depicted above, 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).

Furthermore, 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.

The 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.

Furthermore, Hetachain is a multichannel blockchain with a capacity of both public and private chains which is highly effective for business management and transaction management that is built for enterprise level computational needs thereby being efficient for commercial applications and economic events.

The Heta Protocol which is a multichain platform makes communication between private and main chain possible in the Heta blockchain system, the platform provide Bridge Protocol which is built towards helping private chains summit their data to main chain for validation. Private chain will need to pay an amount of HETA coins in order to issue transactions. This fee is directly proportional to volume of usage.

The Problems

However, 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.

The Solution

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.

HetaCoin - The cryptocurrency that fuels Hetachain.

The native cryptocurrency that fuels and drives the Hetachain and enables blockchain as a service, HetaCoin has multiple use-cases.

Usage fee paid by users or enterprises who intend to use Hetachain as a service

Transaction fee to be paid in HetaCoins

Rewards to be distributed in HetaCoins

Hetachain aspires to resolve the issues that currently plague the current blockchains and solutions whether that is scalability, privacy, security or throughput. With its cutting-edge architecture and design, it has the potential to emerge as the leader that can bridge the gap between the technology and people, and change the emerging landscape.

The Functions of The Multichain Platform

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.

The Features

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.

The 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

Heta Tokenization

ROADMAP

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

Q4 2018

HetaChain block explorer demo

HetaChain test net (test version)

HetaChain ICO public sale starting

Listing HETA token on exchange

Privatechain development

Q1 2019

Web portal release

Dapp development

Smart contract development

Wallet update (multi-Token)

HetaChain test net launch

Q2 2019

Prebuilt Dapp

Auto create Dapp

HETA fee calculation portal

HetaChain block explorer(update)

HetaChain mainnet (test version)

Q3 2019

Heta

HetaChain mainnet launch

MEET THE AMAZING TEAM

Advisory Board

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

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: Cryptoholical

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.