“Hypersphere”, the blockchain-based platform provides cyber secure cloud for companies
A common debate about the use of blockchain systems is the contradiction between open-source information and security.
While Blockchain has a tremendous possibility to change/improve society, it also has the potential to infringe privacy, which has become a significant issue in recent years.
Even if you know that there are good things, there are many industries where the risk increase by making information completely open.
However, there are two types of Blockchain, public type (public type) and permission type (permission type), and Blockchain can be used within a limited range. At present, attention is on the use of permission-type blockchains, which are considered highly feasible in terms of practicality.
And environmental awareness such as global warming and air pollution is increasing year by year. Since Blockchain requires a large amount of power for mining, it seems that blockchain projects can not be a sustainable business model. It has become.
“HyperSphere” is a company that develops a distributed cyber-secure cloud-based on blockchain-based in Singapore HyperSphere has high feasibility that has cleared the challenges of these current blockchains.
Their technology is mainly used to be in a form that maintains a certain level of confidentiality inside the company, and the technology that issues coins is also characteristic of being environmentally friendly. This time, we will introduce HyperSphere as a practical example of advanced, personalized, multi-tree Blockchain. It means that the blockchain length and its storage demands are reduced, enabling fast transactions.
Ex) From research request in medical research, task transmission to payment.
HyperSphere offers a full range of potential technologies and mechanisms with a wide variety of uses and features. Before getting into the technical characteristics, here are some easy-to-understand examples of what HyperSphere can do.
For example, when a medical research institution requests research from each research institution, sample tasks can be distributed to each study in a secure manner using a blockchain-based system provided by HyperSphere.
When the research is completed, each research institution can securely send the research result data to the original medical institution that requested the research.
After that, the original medical institution can also pay for the research institution on HyperSphere. In other words, HyperSphere can send and receive confidential data safely and can deliver on the platform is one prominent functional feature.
So why is HyperSphere safe? There are four key features.
4 features of cyber secure cloud “HyperSphere “
1. Distributed network
A decentralized network created by individual devices.
2. DyDAG blockchain
It is a multi-tree blockchain that includes “individual trees” that have gone through an identity trust chain.
3. SDNP
HyperSphere uses a data transmission protocol called SDNP.
How does SDNP work? SDNP encrypts data then disaggregate it and sent to the recipient via different routes in the broken sequence. So, even if a hacker can reach data during an attack, only the fragmented content would be received. So, it makes hacker attacks meaningless. The SDNP protocol was initially developed by HyperSphere two years ago and patented in 2019.
4. HyperID
It is a technology that authenticates the identity that the principal makes all transactions.
The dual token economy guarantees the real value
Another noteworthy feature of HyperSphere is the “Dual Token Economy.” This solves a common problem pointed out in many blockchain projects.
Virtual currency based on blockchain technology has many investors entering the market for speculative purposes, and it is said that there is still a challenge to provide stable services because of its high volatility. For example, even if a company that issues currency is doing business that does not involve the actual situation, only the value of the currency will rise or fall unnecessarily, resulting in large fluctuations in value when paying for actual services There is a possibility.
For example, suppose you purchase 10 months of storage for photos in the cloud and pay 10 tokens for 10 months. However, if the value of the token increases by 50% after one month, you must pay with an additional token of 50% to purchase the same service. Conversely, if the value of the token drops by 50%, the company may not be able to provide the service because it cannot make a profit, even if it is provided.
In 2018, the value of many cryptocurrencies fell by 90%. It is not a stable token economy when the value of coins used for payment of services and the stock price are combined.
But in HyperSphere’s dual token economy, it is traded on the exchange. It is based on both security tokens that reflect the growth of corporate value and internal utility tokens (payment methods) that guarantee the amount of services that clients can always obtain. As a result, the value of services that users can receive can be prevented from fluctuating significantly. Because it is based on real value, it provides a long-lasting economic backbone.
The two components that make up the dual token economy
The dual token economy consists of two tokens called HyperMetal and HyperCoin.
HyperMetal is an internal utility token that is used as payment for services within the HyperSphere ecosystem. For example, you can use HyperMetal to rent secure cloud storage, computing resources, and other service locations within HyperSphere.
HyperCoin is a traditional security token that can be used for trading on an exchange and reflects the value of the entire system.
Mechanism of dual token economy — How does it work?
So how do these two tokens actually work in the dual token economy? This is how it works.
First, HyperCoins is acquired by the resource provider, and the contract is executed. This is called HyperContract, and HyperCoins is automatically cast from HyperMetals as a reward when the contract is completed.
HyperCoins acquired or purchased in this way can be melted to acquire HyperMetal and paid for the execution of new contracts in the market. This “recycling” naturally limits the supply of circulating HyperCoins and increases stability and sustainability.
This eliminates problems caused by the instability of the value of the single token economy and facilitates interaction between the seller and the user.
What do you think? Personally, using
HyperSphere’s blockchain technology, it is superior in terms of practicality, dual token economy that realizes stable token economy, and SDNP, HyperSphere’s unique technology that enables secure communication is interesting.
HyperSphere makes use of these features, including virtual banking, virtual credit cards, secure wallets that cannot be hacked, fraud prevention by KYC, and management of all data flows within FinTech (store data in compliance with (Transmission) and other applications in the fintech field. Since it is said that finance is the first area where Blockchain will revolutionize, I’m paying attention to how much HyperSphere will take into account the use of fintech (especially security).
You can check out their website and whitepaper here.
