An example of using blockchain on the Roobee platformđź”—
Welcome to the second installment of our #technicalblock series!
In this series, 👆 we explore the technical side of the Roobee platform.
In the previous publication, for example, we talked about three issues the Roobee blockchain solves, and why an architecture that combines the exclusive Hyperledger-based RoobeeChain blockchain and the public Ethereum blockchain, was chosen to solve them đź’¬
If you missed the publication, you can read it via this link: https://medium.com/roobee-invest/roobee-blockchain-a58b4b16ba6e?source
Today, we will take a look at one of the examples of how Roobee’s blockchain will be used once it’s released.
❗️ Before we dig into the topic, it is worth noting that the beta release of the platform’s RoobeeChain blockchain is scheduled for the first quarter of 2020. The public release of the Roobee platform, operating on the fully compatible blockchain (beta), is scheduled for the second quarter of 2020.
With that covered, let us describe how the adding of an investment product to a user’s portfolio will be implemented upon the release of RoobeeChain 📝
First of all, the user sends a request to the platform, for instance, expresses an intention to purchase an investment product.
This request is expressed in the form of a transaction which is being generated on the user side and contains information about the performed action along with a set of conditions: the order expiration date, margin, amount, etc. 🙌
The transaction, on the user’s side, will be signed by his private key, also known as PKI Hyperledger Fabric, which was generated during the registration.
Then, if the application is accepted by Roobee, the user-signed transaction gets into a RoobeeChain chaincode with the user’s requests. Until the request is satisfied, the user can cancel it using RoobeeID.
The user’s request can be satisfied by transferring to him digital assets which represent an investment product.
This will be confirmed by the corresponding record in the blockchain. The fact of the transfer will be confirmed by the signature of the auditor. The tokens can be immediately moved to a special chaincode, which specifies the rules of asset rebalancing within the portfoliođź“Ť
The selling of an asset happens according to a similar scenario — the user signs a sale request, and then this request is recorded on RoobeeChain. The tokens symbolizing a digital asset are frozen, and as soon as the user’s request is satisfied, they return to the Roobee balance.
In the following posts, we will discuss a few more examples of how the blockchain will be used on the Roobee platform. Do not miss it.
