HALO Network
Published in

HALO Network

What You Need To Know About HALO Network 2.0

HALO Network is a borderless decentralized financial system. Developments are always looking for innovative ways to improve the network and to develop new applications. Based on consistent operation and several technical refinements, HALO Network will be upgraded to 2.0. HALO Network 2.0 will reinvent the value system as well as optimize the ecological structure in order to enhance the performance of HALO Chain

HALO Protocol 2.0

Every upgrade of Halo chain is to better enhance the serviceability of the application to make the Halo ecology more sustainable. Together with each HALO upgrade, the improvement of the halo ecology will be reflected by the continuing rise of HO token price.

Upgrade Highlights

· Chain Performance

The significant changes in the HALO Network 2.0 upgrade is improve the efficiency of on-chain interactions, reduce transaction losses, creating a low-loss, high-application ecosystem.

The performance has been greatly improved compared to the previous one, with TPS increasing from 1000/s to 2000/s. Therefore, DApps can interact more efficiently and quickly through the HALO Network ecosystem.

The GAS will be reduced as well together with the increase in performance. The GAS consumption of HALO Network will be even lowered than before.

· Super Node

Super node election process:

Obtaining voting rights: Users can obtain voting rights by pledging HO

Becoming a node candidate: When the number of pledged HO exceeds 10,000, users can apply to become a node candidate

Super Node Election: The top 21 users will become Super Nodes according to users vote.

Super nodes have the right to make decisions of HALO Network as well as enjoy super node revenue.

· HO rights and interests

The initial total supply of HO will be 21 million, after 21 million HOs have all been minted. The rules for reduce production rate will be decided by user voting.

The mechanism of HALO Network is inherently with deflation properties, with the arrival of HALO Network 2.0, HO will have a wider distribution and stronger serviceability. The tokenomic of HALO Network will make HO token increasingly scarce when time move on. Along with the continuing ecological “boom”, the large demand of HO will not only entrench HO prices , but also push HO price to another level.

HOPOS Consensus Mechanism

HALO Network was designed with the HOPOS consensus mechanism at the beginning. HOPOS not only maintain the security of the transactions, but also replaces the inefficient and resource-intensive of POW Consensus mechanism.

With the HALO Network 2.0 upgrade, the HOPOS consensus mechanism will reduce energy loss and increase the efficiency of on-chain interactions as well as reduce fee loss.

Rights and interests’ enhancement

HALO Network 2.0 is upgraded to strengthen the ecological rights

through ecological correlation, which flexibly ties the ecological roles together.

In the future, the 21 super nodes will determine the overall development of HALO ecology, while the users who participate in the ecological voting are the ones who decide the election of the 21 super nodes.

Super nodes, Pledge Users, Voting Users, all users of the entire HALO Network ecosystem will receive an eco-share incentive corresponding to their status.

Remarks

What does HALO Network 2.0 mean for the entire HALO ecosystem?

· Network performance

HALO Network 2.0 provides more efficient computational values, accelerates the operation of smart contracts, reduces GAS loss to improve the performance of the entire network.

· Super Nodes

HALO Network 2.0 selects 21 super nodes through fair, open and transparent voting to strengthen the rights and interests of super nodes to promote the motivation of super nodes towards ecological governance.

· Ordinary HO Holders

For this upgrade, ordinary HO holders do not need to do anything, just need to enjoy the ecological convenience brought by HALO Network 2.0.

· Dividend incentives

Regarding dividend incentives, HALO Network 2.0 has been greatly improved, by balancing users’ earnings in multiple dimensions based on their pledges, votes and other behaviors, driving the governance token, HO towards the path of deflation. HALO Network 2.0, suitability and value will be carried by HO, and it will be reflected through the token value at last.

· Developers

For developers of smart contracts or DApps developers on Ethereum, HALO Network 2.0 will improve the runtime and the cost of some large smart contracts by increasing the speed of validating the smart contract. Thereby reduce the cost of developing or tuning smart contracts to a certain extent.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
HALO Network

HALO Network

HALO Infinite Financial System: Illuminate the Infinity of Blockchain