The 3rd Generation Blockchain
The first generation of blockchain was designed by Satoshi Nakamoto and resulted in the first ever cryptocurrency Bitcoin. The hallmark of first-gen blockchains is that they use Proof of Work (PoW) algorithm to validate transactions. In this group are also Bitcoin’s various clones and forks like Bitcoin Cash and Litecoin.
The second generation was led by Ethereum and introduced smart contracts and made possible the easy tokenization of assets. It became hugely popular with developers and a platform of choice for the vast majority of ICOs. Other projects in that category are NEO and WAVES.
They are hail and hearty but they don’t serve many of the purposes at one place together. These purposes are:
- High Scalability
- Interoperability
- Sustainability
- Privacy
- Governance
None of those two generation incorporate all the 4 properties as aforementioned. That’s why 3rd generational blockchains are slowly breaking the dawn with their innovative ways to incorporate these properties so that they can adapt to the ever-changing demands of this space.
One of the notable projects to look into in 2018 in the niche of 3rd generation blockchains is Hetachain.
Hetachain The Revolutionary of Blockchain
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). The 3rd generation blockchain technology Hetachain eliminates the mistakes of its predecessors, solving the problems of scalability, increasing transactions per second and energy efficiency, as well as bringing blockchain technology closer to mass adoption.
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. Furthermore, the Hetachain Platform is designed to support an exceptionally high TPS, which is crucial for the new generation commercial network.
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.
Relam Investment LLC
Hetachain is officially launched by Relam Investment LLC. Relam Investment L.L.C is the product of a partnership between MIG Holdings and Vault Investments L.L.C. Also, MIG Holdings operates out of Vietnam and Vault Investments L.L.C operates out of the UAE. This organization focuses on investments in South East Asia, the Far East, Middle East, and the United Kingdom.
Relam Investment aims for Hetacoin to become the most sought-after cryptocurrency on the market in the foreseeable future. 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.
HetaChain Cryptocurrency (Heta)
The native cryptocurrency that fuels and drives the Hetachain and enables blockchain as a service is HetaCoin. It is a Hetachain internal cryptocurrency that is used on the Mainchain network. It has multiple use-cases:
Hetachain Service Usage fee
It is a fee taken from HetaChain service users.
Transaction fee
It is a mandatory fee taken from user's transaction exchanging coins or tokens that have been made by Heta. The transaction fee makes Hetacoin have real value for the system. This can also prevent traders from flooding the network with unlimited microtransactions.
Rewards
If a user participates in a consensus process or validation from the Mainchain and Private Chain, then he/she 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.
Additionally, Hetacoin aims to become one of the most popular cryptocurrencies in the world, relying on the demand generated by the HETACHAIN CRYPTO-CROWDSALE ecosystem, where all users will be able to launch their own ICO projects.
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