HPB Will Optimize Blockchain for World Markets Adoption

Blockchain and scaling, they are somehow not in sync, yet we have taken people to the moon and back. Bitcoin paved the way for the current popularity of blockchain as it is right now but it has yet to hit its peak popularity in the mainstream world. Enthusiasts understand blockchain and they understand the shortcoming that it has to deal with. However, they cannot sustain this market alone. Investments being poured into this revolutionary tech needs more than just a few fans, it needs the entire world or at least a good portion of it using blockchain for their daily activities. There is a great requirement of a platform that it can deliver the power, efficiency and drive blockchain needs to achieve the status symbol blockchain aims to become. HPB (High Performance Blockchain) is planning to do just that.

A Glimpse of Everyday Life

✅The East African region is probably among the fastest developing regions in the world. With countries such as China funding its development, East Africa has the potential to become a powerful force in the world’s economy. Its innovations are now on the world map with mobile money transfer being the hallmark of some of the greatest achievements to come from the East African region.

Kenya is the mother of Mpesa, a mobile money transfer platform. The number of transactions that are conducted daily in this service is staggering. It is the main revenue generator for the telecom company, Safaricom. Its services span across a number of countries worldwide with users being able to send and receive money from almost any part of the world. This sounds like something similar to what some of the blockchain protocols and DApps are trying to achieve. The downside of this mobile transfer service is in the costs that are charged per transaction while the bright side is the convenience. There are also other challenges such as security. Recently, news outlets in the region highlighted the plight of user accounts being hacked. These are the types of problems that blockchain can solve but it is lagging behind in regards to convenience, thus hindering popular adoption.

The demand for transactions on the daily is overwhelming for all public protocols that are currently in use. If the world was to move to the blockchain side of life, most of the protocols would not be able to handle the traffic that it brings.

Limited Ability

✅Scaling is everything if blockchain is to go mainstream. Security is good, transparency unrivaled and immutability unlike any other, but the limitations of the transactions that can be handled within a given time is putting the blockchain juggernaut at risk. With some transactions taking even weeks before they are completed, new users may opt out of this technology- resolving to have convenience over better security and transparency. Human beings are known to love their comfort thus convenience is the only factor that can truly attract them out of centralized networks.

✅The scaling issue has been addressed using various methods; however, most platforms only address the software part of things leaving the hardware as it is. This limits the extent to which they can scale their revamped platforms. They may end up performing better but they would still be unable to handle the traffic that blockchain may achieve with a worldwide acceptance and popularity.

👏How Does HPB Make a Difference?

What makes HPB stand out from the rest of the platforms is the fact that it addresses this scaling issue from two ends. Its two-pronged attack targets both the hardware and software sectors. It implements solutions within the platform that ensures the problem of scalability is dealt with at the core of the platform.

✅Better computing will instantly correlate faster speeds of transactions. HPB intends to use hardware accelerators to achieve better performance. For nodes, transaction broadcasting, verification and block broadcasting and packaging are all executed at the software level which creates room for a myriad of problems to arise; ranging from delay times to a low serial processing performance. These challenges are tackled by an innovative solution that is of the brilliance of HPB- known as Blockchain Offload Engine (BOE). This is the integrating factor that combines hardware, firmware and software in HPB. The aim of BOE is to achieve optimal performance and a high concurrency computing acceleration. To achieve this, it combines the serial capabilities provided by CPUs and the FPGA/ASIC chip thus improving the transaction rate right from computation.

✅The software section is handled by improving some of the blockchain aspects that are familiar to most enthusiasts if not all. The consensus algorithm in HPB is taken an approach that ensures it is in line with the security measures and transaction goals that HPB have set. It features a two-tier election system composed of an inner election and an outer election. The outer election functions to adopt node contribution evaluation indicators and from these come up with high contribution node members from the nodes participating in the HPB platform. The inner election determines the priority in which blocks are generated by high contribution nodes where those with the highest priority generate their blocks first.

✅The consensus mechanism used by HPB ends up being more effective compared to others due to the Lightweight Message Exchange Mechanism used, which also helps to greatly improve the security and privacy that HPB provides. This consensus mechanism is best described as similar to a Proof-of-Authority type of system. Users would have to adapt their hardware to hold x amount of HBP to become a node and also contribute a certain amount of bandwidth to the system. The exact figure needed to hold is not yet known.

Smart Contracts for High Performance 🏅

✅HPB intends to start by supporting different virtual machines and later increase the number on their network. The two virtual machines that will start with HPB are the Ethereum Virtual machine and the Neo Virtual machine. HPB’s modular design allows it to support these two virtual machines. Furthermore, as the market demands, HPB can adjust according to the list of virtual machines it can support. This flexibility is important as blockchain is still evolving and changes can happen at any time.

✅Achieving optimal performance in native code execution while running smart contracts is one of the objectives of the virtual machine design in HPB. HPB combines the underlying virtual machine in its architecture with upper-level programming language parsing and transformation which allows HPB to aid the basic applications of the virtual machine. Customized API operations will also be at play in HPB allowing the external interface of the virtual machine to interact with ledger data and external data. This mechanism helps in the overall efficiency of the HPB network.

Smart contract template, auditing and lifecycle management will also feature aiding the achievement of smart contracts supporting high performance of HPB.

Financial Services

✅High performance of any platform usually targets financial systems as a lot can be profited by companies running these decentralized platforms, while those using their services save on the costs they use per operation compared to centralized systems. HPB has a goal of reaching 1 million TPS with a 3-second confirmation time. These are stats that the business world, especially the financial world will enjoy. The example of mobile money transfer highlighted shows the market that can be tapped into if transaction convenience can be achieved by blockchain through platforms such as HPB.

✅Businesses have plenty of transactions that need to be handled with the lowest latency possible. The success of HPB will make this available for any business platform. A target, it seems, for HPB in the Chinese market is the UnionPay Smart platform which is among the largest financial services provider in that market. HPB’s team consists of people who have worked with or are involved with directly or indirectly the UnionPay Smart Company. It comes as no surprise that one of the most likely initial partners for HPB will be UnionPay Smart. This is highly encouraging new as UnionPay handles over 80% of China’s banking data. HPB plans to use this partnership to serve industry partners and peers such as banks, insurance companies and fintech companies. This partnership can likely be credited to the likes of Long Kai, one of the top executives in UnionPay, who is part of the consulting team HPB has.

HPB can also lead to an increase in the use of other digital assets and cryptocurrencies. Businesses may decide to adopt HPB to facilitate some of the transactions that their clients may want to be done through digital assets. With the right configuration, HPB may also be adapted to offer novelty solutions in some of the world’s businesses 🤘.

Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advise in any situation. Please remember to DYOR before making any decisions.

♂️ Hi, my name’s Sal.
If you found this article useful and would like to view my other work please be sure to clap and follow me on medium!😎