HASHCASH CONSULTANTS LLC HC NET BLOCKCHAIN – TRANSFORMING LIFE, TRANSFORMING SYSTEM
AGENDA • NEED OF BLOCKCHAIN • PAIN AREAS OF CUSTOMER • ROLE OF BLOCKCHAIN IN ERADICATING PROBLEMS
• DEEP DIVE IN HC NET BLOCKCHAIN • • • • • •
ORIGIN OF HC NET HC NET CLASSIFICATION HC NET KEY COMPONENTS HC NET ARCHITECTURE HC NET CONSENSUS MECHANISM HC NET VS PEERS
• HC NET USE CASES
PROBLEM STATEMENT
ORGANIZATIONAL REQUIREMENTS
Currency & Transaction Support
Supply Chain & Item Histories Voting Government Operations Intellectual Property Remittances
Cyber Treats & Security
CONFIDENTIAL • Secure • Authenticate • Access Control
TRUST • Verified • Published • Relevant participants
TAMPER PROOF • Encrypted • Traceable Footprints • Scalable
SMART CONTRACT • Embedded • Relevant • Executable at specified time
HOW BLOCKCHAIN SOLVE THIS PROBLEM
HC NET – ORIGIN
HC NET – CLASSIFICATION
V1 V2
Peer
Peer
PSEUDONYMOUS
V3 PUBLIC
PRIVATE
FEDERATED
HC NET – COMPONENTS
AURORA • API Service Interface • Communicates App with Core
CORE • Maintains Ledger • Validation & Node Consensus
HOOKS • Acts as custodian • Issue credits to network participants
NODES • Peer Node – Viewer & doesn’t participate in consensus • Reporter – Peer node and reports and stores the activities of network in DB • Validator – Reporter and also participates in node consensus
CONSENSUS • Use FBA mechanism • Low latency • Asymptotic Security
HC NET ARCHITECTURE HC NET CORE – Communicates with the application through Aurora API Services HOOKS – Controls the antispamming in the network. AURORA – Acts as a bridge between Application and HC Net Core. HC NET STORAGE – Stores the ledger information and communicates with core. NODE – Comprises of Core & Aurora. Can be Peer, Reporter or Validator
HC NET CONSENSUS MECHANISM At the essence of the FBA are quorums and quorum slices. Quorums – A set of validators
sufficient to reach agreement Quorum Slices - A set of nodes sufficient to convince
another node of a statement’s validity.
HC NET – CONSENSUS TOPOLOGY
HC NET CONSENSUS MECHANISM – Contd.. Nodes conduct rounds of federated voting on “nominees.” As soon as a node can confirm one or more nominees, it starts trying to “prepare” a “ballot” via more rounds of federated voting. As soon as a node can verify that a ballot is prepared, it starts trying to “commit” the ballot via still more rounds of federated voting.
Once a node can confirm that a ballot is committed, it can “externalize” the value in that ballot, using it as the outcome of consensus.
NOMINATION USING FEDERATED VOTING
HC NET VS PEERS ETHEREUM
HYPERLEDGER FABRIC
CORDA
HC NET
Permission less, Public or Private
It is private & permission based
It is private & permission based
It is pseudonymous.
Proof of work & POS
Selective Endorsement (PBFT)
Pluggable consensus
FBA Consensus
Crypto based
Asset based
Asset based
Supports both
Smart Contract – Solidity
Smart Contract – Chaincode
Smart Contract – Gear Rx
Smart Contract – Attorney
Popular with generalized applications & mostly used for P2P & B2C operations
Preferred for B2B operations mainly enterprises
Runs on a specialized distributed ledger custom platform for financial institutions
Runs on custom ledger within selected participants and caters enterprises and financial institutions.
Low transaction speed
High transaction speed
High transaction speed
~ 2-5 seconds processing time
Low scalable
Highly Scalable
Highly Scalable
Highly Scalable
HC NET USE - CASES
Supply & Circulation of E currency for a East African Nation
Global Diamond Supply chain with Traceability & Consortium Lending
Revolutionising Cyber Security with HC NET
Wage Management System for the Central Government Employees for a Middle Eastern Nation
HashCash Blockchain Solutions Implemented by a Major Mining Group in Africa
HashCash Traceability Solutions Implemented by a Major Pharma Company
Thank you