Why don’t you ever run your blockchain: part 1

Development of BeeQB, like many other products, started without using the blockchain technology, however it is impossible to provide cryptocurrency transactions without it. To my mind classical blockchain is not suitable for business. There are several arguments:

Argument №1: Speed of blockchain

The maximum theoretical productivity of the Ethereum transaction is just over 1000 transactions per second. Unfortunately, this is not the actual throughput because of the “gas limit”, which currently stands at about 6.7 million of gas on average for each block. With current gas limit — 6.7 million and the current average gas used for a standard transaction approximately 21K, we receive approximately 300 standard transactions in each block. Current average block time is 20 seconds, which at best amounts to approximately 15 transactions / sec (300/20 = 15). The number of transactions is much lower for more complex transactions (e.g., median gas used smart contracts is 50K, which means about 7 transactions per second).

That is why, I chose Waves platform for tokens, because productivity is higher. Although, the average ICO investor who strongly believes in “smart contract” and “erc20” it is difficult to explain the fact that have to use the most reliable and fast technology.

Using any SQL database, it is possible to achieve in 5000–15000 times more productivity.

Argument №1: one blockchain — only one blockchain

Checking all known blockchain network (Apla, Ethereum, and Hyperledger, Tezos, EOS), we found that they all have one similar feature: single blockchain.

This means that using such a platform for the implementation of beeqb tasks, we will either have to add a lot of join requests and pointless detailing every unit blockchain’and increasing to 20–50Mb each block. Or for each business process of each company, each employee will have to create a blockchain, this useless idea and it is too expensive and too illogical.

On the one hand, if you create or use monoproduct — storage service, a distributed service registry, the service of payments accepting or issuing credits, this the abovementioned limitation is not a problem. But for BeeQB such a restriction is the problem, and unsolvable problem, which, again, needs the development of “crutches”or a completely new technological solution.

Argument №3: Smart contract it is a code

The most stupidity that I have met in the world is an attempt to create your own programming language to implement software solutions, which is limited to the platform, which is written in another programming language Smart contracts of Ethereum are written in Solidity, APLA offers to study Simvolio…

And I think that the smart contract is a wonderful thing, which can and should be automated to fill in a form on the website or communication with the chat bot (As it did http://thetokenfactory.com/#/ )

And again, the blockchain is not suitable for business, because too many processes that need to write to nuance, and details. As a result, working with corporate smart contract creates stars, which cannot be fired, because only they understand the system.

Analyzing all this, developing a possible theory, I came to a disappointing conclusion: BeeQB impossible to implement without the blockchain, but the how implement blockchain in BeeQB I don’t know. Although. And that’s what I want to tell you.

After great research, spending hundreds of hours in dialogue with experts and gurus of the market, I have developed a very ambitious, and I would even say INNOVATIVE variant of blockchain implementation in BeeQB.

Innovation №1: Multitrading

Every business operates on two classical techniques: 1. BPM (Business Process Management); 2. PM (Project Management). Always one of the technologies of management dominate. Toyota, Bloomberg, Tesla, Valve, IBM use BPM method. Apple, VW Group, CAT, Oracle, Amazon — use PM method. In principle, it does not matter which technology you choose, it is important that you chose one of them..

Selecting your technology management, you will understand that the managed processes are algorithmic and multi-threaded. Therefore, to use the blockchain in your business, you have to use a blockchain, which as algorithms need to be multi-threaded Using any of the existing solutions, we get the following picture:

This “picture” is not detailed, moreover, it does not help to make management decisions.

The picture should be like this:

That is, your company has a root blockchain (the Company #1). While there are blockchain “employee” (Employee #1 and #2) that records key points of growth: the arrival time to work, tasks, sales, speed of transaction, the payment of wages and so on (the Deal #1 and #2 …). Thus, it should be understood that blockchain’and no “owner” but he does have initiators that are always two sides conclude a smart contract.

For example the Payment of salaries:

The seller receives salarн based on smartcontract data, and according to KPIs. The accountant pays the salary based on the amount, which is a smart contract indicated and of the availability of funds in the account. That is, at the zero value of one of the points a smart contract can not be initiated, and implemented. The result of the blockchain will become part of a personal blockchain both participants and the company.

Innovation №2: Blockchain is for smart contracts

The evidence of the necessity of developing an entirely new typology blockchain led us to the conclusion — the necessity for the generation of new circuits on the basis of smart contracts.

That is why BeeQB we implement three types of smart contracts: commodity service, credit and share. The sence of the contract comes from its name, but there is one important clarification. The company may use automatic contracts, customize a template or create a new one. Auto contracts (for example, commodity and service smart contract):

Example: the Company retails TV. The procedure of the transaction, regulated by the state (the number of days to return the purchase, warranty period, data on the receipt and so on). The system recognizes the transaction type and creates a blockchain transaction based on such a smart contract. Of course, the company can change the contract for this type of transaction, but that’s another story. It is important that the blockchain of the transaction will be initiated by the smart contract and it will be more standardized and, therefore, can be considered as a standard for business and government.

There is another question which it is necessary to give a clear answer: what does smart contract initiates?

Innovation №3: Proof of Event

Logically correct conclusion of the previous story is that the initiator of the smart contract, which initiates the blockchain, should serve as an certain event.

For example, the beginning of the root blockchain, should be smart contract which creats this company through the form on the website. While the prior event it is a click on the button “Create company”

In order that the user clicked on the button, the user must be a registered and have a completed profile. Also in more serious tasks.If the client want to buy the product, and the seller could sell the product, should be two events: the presence of money from the buyer, availability of the product from the seller.

Let’s imagine that you buy from me boxes of matches. I am a vendor. We create a smart contract.

I : I will give you 1000 boxes of matches in 5 days, if 50% Deposit and 50% payment at the time of shipment.

You: Ок, but the Deposit will go only if the product is in stock and ready for dispatch.

I: Ok.

BeeQB forecasts that this a smart contract product will be as a sequence of sequence of blocks:

  1. BeeQB hedging 50% of the amount;
  2. Checking the availability of goods in the warehouse;
  3. Sending 50% of prepayment for the goods;
  4. Check other 50%;
  5. Initiation Protocol shipment;
  6. Hedging other 50% of the amount;
  7. Tracking delivery of goods to your warehouse;
  8. Double improvement of delivery and acceptance of goods;
  9. The transfer of money to the vendor.

The system creates blockchain and starts checking every stage.

  1. Is there any money on the client’s account?
  2. Are goods in the stock?

3. Is good in the Catalog?

4. The probability of the required number of goods in the warehouse

5. The system provides a warning that the probability of execution of the contract null, because the item is out and need produce it in the right quantity.

6. The money is returned to the client… Smart contract terminated. Seller rating downgraded.

That’s all for now. Here we introduce such innovative developments in BeeQB. Certainly, that it is long and expensive to develop own technological block-decision. But we have no choice.

In the next part, I’ll talk about Future-proofing, Future-proofing Events, about predicting the flow of a smart contract and a blockchain — the principles of the operation of the neural network “A”.

By the way, there are a few days left before the completion of preICO. And you have the last opportunity to contribute in a beeqb with a steep bonus.

Subscribe to the channel, join the groups and, of course, contribute in beeqb.com/ico

Like what you read? Give BeeQB a round of applause.

From a quick cheer to a standing ovation, clap to show how much you enjoyed this story.