Terrible name, solid project

If you were able to identify the bear market before it hit the crypto-sphere then congratulations, if you weren’t don’t worry, like phoenixes arising from the ashes the best projects will survive and become stronger than ever.

This is my personal series of notes diving into projects that are perfect to buy up right at the bottom of this bear market, hell, even at today’s prices.

Let us forgive the terrible name, the affiliations with being dubbed the Chinese EOS and lets dive into a great project called High Performance Blockchain.

Unionpay Smart COO Xiaojun Jiang calls HPB the most practical Chinese Blockchain

Let’s break it down,

High Performance Blockchain (HPB) targets one of the most difficult problems that blockchains face today: scaling.

In order for blockchains to get a widespread adoption by businesses and consumers low transaction speeds and excessive latency issues must be addressed. Ethereum (ETH) for example can only process about 15 Transfers per second (TPS), even though they are targeting a VISA scale level of transactions (45,000 TPS). This is just growing pains of a new technology, Ethereum will likely reach higher than this in transactions per second with sharding or other possible solutions…HOWEVER Ethereum cannot do everything, there must be blockchain protocols to target specific tasks

HPB has a target of 1 million TPS and a 3-second confirmation time, HPB aims to become the standard for all major business applications in industries that require handling of billions of data points with extremely low latency. Given the direction of technological development, projects like HPB will become the backbone for years to come.

HPB addresses the scaling problem very eloquently by creating both hardware and software architecture designed to handle millions of transactions per second.

Nodes

Without going into to much detail here, HPB have a fascinating node plan, I suggest that you read about it and check it out. Basically HPB will have their own hardware and a two-tier voting mechanism. The consensus mechanism is deeply integrated and customized with HPB hardware BOE (Blockchain Offload Engine) technology system.

Outer Election: The evaluation index of candidate node contribution is used to select high contribution node members from a number of candidate nodes.

Inner Election: Based on the anonymous voting mechanism of the hash table, the priority of generating blocks of a high contribution node is computed at each block generation. The high contribution node with higher priority has the right to generate blocks first.

In the design of the consensus algorithm, the Lightweight Message Exchange Mechanism of the HPB consensus algorithm makes it far more efficient than others. At the same time, it has also greatly improves security and privacy.

Wang Xiaonming, CEO

To summarize the jargon above, HPB has hardware accelerators to speed up the network. These processors focus more on speeding up the transactions rather than ‘mining’. The ‘consensus’ is a style of DPoS (Delegated Proof of Stake).

The Team

Getting information of Chinese projects can be tricky, and getting information about the teams even more so. Fortunately HPB have an all Star team with all Star reputations.

Wang Xiaoming (CEO) wins “Most Innovative CEO 2017 in Shanghai, 3/15/18

Wang Xiao — Founder & CEO

Having written many technical papers on real-world blockchain applications, Wang has a big reputation in China. He was also a former high ranking team member of UnionPay China, an important point.

Li Jinxing (PhD) — Co-founder &CFO

Another research and blockchain expert, former analyst at Guotai Junan securities, one of the largest Chinese investment banks

Li Xu — Co-founder & CTO

Previous IT manager at Huawei.

Wan Zongru — Advisor

Member of a Nobel prize-winning team.

Other notable advisors include but not limited to, Lei Zhen; Jixianyuan CEO, OKCoin co-founder and Bibox Founder. Jialing Liu; Council member of BTS and GDEX Founder.

The important standouts — taking it from a good project to a great one.

Kai Long — Advisor

Excutive President at UnionPay Smart who has worked in the past alongside Wang Xiao.

UnionPay

HPB announced 1st July 2018 that they have a partnership with UnionPay. Why is this important? This is important because of how big UnionPay is. It is the largest transactor in China, with a transaction volume of 15 trillion in 2017 alone. Talk about a useful real world case for a generation 3 blockchain that can soon handle 1 million transactions per second.

NEO (Antshares)

If you have been in the crypto-space at all you should know exactly who NEO is and why this is such a big deal. There is direct confirmation that NEO was an angel investor in HPB.

My string of notes

  • January 25, HPB core chain CEO Wang Xiaoming traveled with several core members to visit the global technology giant google headquarters.
  • October 2017, Bibox also reached a strategic cooperation with HPB core chain to further accelerate the running pace of Bibox platform.
  • Xiaoming Wang (CEO) wins “Most Innovative CEO 2017 in Shanghai, 3/15/18
  • HPB recognises that it is in direct competition with EOS. EOS has a marketcap of $8 billion (currently in this bear market). Without going into detail the EOS project is terrible and nothing more than buggy vapourware at the moment, HPB is taking the better approach of getting the mainnet with hardware right from the beginning rather than be a heavy marketer. HPB is all bite, no bark.
  • The HPB CEO was invited to speak at a Nebulas meetup session in Shenzhen December 2017 to speak about the technical advancement & integration of blockchain tech.
  • Previous all time high was $18, and HPB is still not accessible to many exchanges.
  • HBP has done almost no marketing, they are getting their product perfect during this bear market, and when the bulls return I imagine HPB to become a matador.
  • A lot of talk online and in forums put people saying $65-$70 end of year, it depends on what happens to the circulating supply of coins and whether any more coins are being put into circulation, so if we get a sub $1 HPB coin during the end of the bear trend, then this could be a perfect entry price. One thing is for certain, HPB will not remain with this low marketcap. I will not post my personal speculation.

This is not financial advice, I suggest you do your own research before investing any money.