Loot NFT, the “xHABN” Label and the VASS (Validator-As-A-Service)
HABN was established under Horizon Africa Blockchain in 2018 by Suyash Sumaroo and Akash Balluck. It is a permissioned blockchain based on Ethereum, initially created to provide fast, secure, and affordable blockchain solutions focused on powering blockchain-based projects in Africa, where cost is crucial. The blockchain has mainly been used for testing projects and educational purposes.
In 2021, in collaboration with Ducorp XTM and NeoWorlder, we reevaluated our structure, including tokenomics and commercialization. As we are a permissioned network, our target market is businesses requiring straightforwardness and predictable costs to use blockchain solutions or to set up blockchains to suit their activities. This prompted our initial mission to be extended to serve our African focus and businesses and projects worldwide that might find our helpful platform.
The “Horizon Africa Blockchain,” or “HABN” for short, works as follows:
(a) Blockchain transactions are conducted through API calls. We provide packages in three tiers, each with a specific number of API calls that customers can consume for a fixed monthly price. In addition, we also offer customized packages under the “price on application” option, which is common in the software industry.
(b) Customers can design and construct their activities and create tokens, smart contracts, NFTs, wallets, etc. Every time an API call is made, a transaction is recorded and retrieved. This allows them complete control over the underlying persistence and reading of the necessary blockchain elements.
Several processes occur in the background, out of sight of the customer.
For context, HABN is a validator network for customers who want to use or create their permissioned-blockchain. A helpful analogy is that of a shared server containing multiple applications (e.g., one offered by Bluehost); it is the blockchain solution of the client, but the Isle of Talos provides the validation service on the network.
(a) We have fifteen validators that earn HABX, the native currency of Isle of Talos that is only used as an accounting currency by Isle of Talos. It is not traded anywhere.
(b) For every 500,000 blocks mined, the validators can burn the HABX they have been rewarded with in exchange for a HABX Share Certificate (HSC for short). The HSC is a pro-rata share of their HABX burnt compared to all HABX burnt by all other validators. 100 HSCs are provided for every 500,000 blocks and distributed to each validator according to their pro-rata share.
For instance, if Validators 1, 2, 10, and 15 were rewarded with 1,000, 2,000, 3,000, and 4,000 HABXs, which were burnt only by them, they would get 10 HSCs and 20 HSCs, respectively 30 HSCs, and 40 HSCs. HSCs entitle them to a share of revenues from a pool of customer payments for that 500,000 blocks. This pool is divided by 100 HSCs; for example, if the pool is 1,000 ADA, presenting and retiring 10 HSCs would give the validator 100 ADA for their work.
C) If validators do not burn their HABX, this is accumulated, and they can burn it at any 500,000 block intervals; this also means that validators may burn part of their HABX. For example, if they do not burn and there are more clients in the subsequent lot of 500,000 blocks, they stand to receive more out of the pool (since their share might be more significant than others that previously burnt theirs). The reverse is also possible.
(d) The pool may be in any currency, and the administrative personnel of Isle of Talos converts all other currencies into ADA, the Cardano Native Currency, to pay the validators pursuant to their HSCs.
(e) The HABX is never handled by the customer or even seen in the customer’s wallet, although it powers their transactions.
(f) The Isle of Talos blockchain infrastructure is highly adaptable. It can cater to the minting of NFTs and issuance of multiple tokens and has the necessary APIs for various integrations and use cases.
Our first VASS (validator-As-A-Service) is for the LNFTXIOT blockchain. In addition, we have issued the M-BUN token, a replica of the BUN token minted on the Cardano blockchain, to audit and record transactions within the NeoWorlder ecosystem. LNFTXIOT is also expected to cater to high-velocity bidding transactions when it meshes with the Cardano blockchain through a bi-directional bridge.
See the minted M-BUNs here on the Isle of Talos Scan: 0xbb6f7ff2e38ccb68898569e31248fd8e2c3a4b4b
We intend to keep the label “Isle of Talos” for any blockchain validator services we provide in the future (for example, COMPANY HABN, etc.).
We will also mint the NFTs for NeoWorlder on LNFTXIOT and then burn them when a member requests to send them off NeoWorlder. At that time, a newly issued NFT will be minted on the owner’s blockchain of choice (i.e., those available on the NeoWorlder platform) together with the provenance information previously recorded in LNFTXIOT.
Disclaimer: Horizon Africa, Codevigor, NeoWorlder, and Ducorp XTM are validators of HABN.