HPB: THE SOLUTION TO TRADITIONAL BLOCKCHAIN
Blockchain was developed by Satoshi Nakamoto in 2008 to serve as transaction ledger for bitcoin. It is a decentralised and well distributed digital ledger that is used for record.
Blockchain technology is usually management autonomously and it utilises peer-to-peer network. The technology has now become popular across the globe; been utilised by institutions and governments. However, blockchain is facing many imperfections, hence the need to introduce a better version.
In order to solve the many problems combating blockchain, the concept of High Performance Blockchain or HPB was introduced by some bright minds. High Performance Blockchain was designed to meet the needs of today's blockchain.
Problems to be solved
TPS (Transaction Per Second) performance: due to increase use, transaction volume and application are on the increase on current blockchain. This has led to serious congestion problem. For instance, bitcoin blockchain can only perform 7TPS. This is grossly abysmal.
Security problem: Ethereum, which utilises blockchain technology have experienced some security breaches. Hence there is need to fortify the current security protocol of blockchain.
High cost: transactions in the current blockchain is expensive. This is partly due to the congestion in the system, especially during peak periods.
How can HPB solve these problems
The traditional Blockchain nodes work in such a way that transaction broadcasting, transaction verification, block broadcasting and block packaging are implemented at the software level. This ultimately hinders the performance of the system leading to congestion.
The solution proposed is called BOE ( Blockchain Offload Engine). BOE is an heterogeneous system consisting of hardware, firmware and software. It enhances the performance of blockchain by combining CPU serial capability and parallel processing capability of FPGA/ASIC chips. This is a simplified version of how HPB’s BOE enhances the performance of blockchain. This system enhances blockchain operations 100 times more than the traditional one.
In order to tackle security problem, High Performance Blockchain or HPB employs Elliptic Curve Digital Signature Algorithm or ECDSA for short. This handles signing and verification processes. BOE embeds ECDSA module which is capable of enhancing signature verification speed, thereby verifying millions of signatures in a second. It has the dual function of speed and security.
In order to ensure wholistic and durable system, HPB incorporated some important components into BOE such as random number generator, data fragmentation technology and so on.
High Performance Blockchain was designed to support virtual machines such as Ethereum Virtual Machine, Neo Virtual Machine and so on.
Finally, system management. HPB architecture enables easy and convenient system maintenance of both hardware and software. Compatibility checks, automatic download, automatic upgrade etc, can be achieved through simple command operations. This is to prevent system failure.
With the target ofa staggering 1 million transaction per second (TPS), and robust system architecture, HPB is poised to revolutionise the blockchain technology. It is an evolution of traditional blockchain, which is becoming obsolete; as it has failed to meet contemporary requirements.
IMPORTANT LINKS TO GET MORE INFORMATION ABOUT HPB
Author’s Name: InnocentEbuka