TAKAMAKA — Launch technology and value of the underlying
What is Takamaka
From the white paper, Takamaka presents itself as a complete and fully open source verifiable blockchain, which solves the ease of programming and scalability, but it also proposes a new consensus algorithm proof of stake (PoS). The algorithm is designed not to be subject to the currently known PoS attacks and to faithfully approximate the security and stability properties of the proof of work (PoW).
Takamaka is a project developed by AiliA SA in collaboration with the University of Verona and Trento. Thanks to the Professor Nicola Fausto Spoto, it has been possible to use native Java as a smart contract language, a distinctive feature of the project. Takamaka is based on the implementation of all levels that make up the blockchain: smart contract, consensus algorithm, networking, cryptography, thanks to the work of Mr. Giovanni Antino and Mr. Francesco Pasetto and the University of Trento, where the Full Professor Massimiliano Sala analysed the cryptography and consensus algorithm.
Java, born as an object oriented language, has greater simplicity in writing and managing code and intrinsic characteristics of portability, reliability and verifiability. From the node to the smart contract, to the creation of tokens: the result is a high-performance blockchain that does not require special development environments.
The PoS, instead of consuming electricity to solve computationally expensive calculations, selects a node to generate a new block. A node, chosen to submit a new block, is called miner, while one pointing coins at a miner is called stakeholder. Stakeholder betting, unlike classic PoS, is not a key element of the entire financial power in Takamaka, because the stake does not give the ability to control or influence the algorithm to the single better.
In Takamaka there cannot be bets on the single node higher than a certain value dictated by the protocol. This ensures that the node has a minimum value to be able to become a delegated miner, but this value is limited to prevent it from assuming a predominant role in the network, as a necessary condition for the status of balance.
Current Proof of Stake implementations and its main variants are based on the exclusive use of a single chain token for job quantification and control management. In the initial stages, this leads to an unnatural scarcity of the token itself: whoever owns it, has the control of the chain and he is not willing to sell it, in order not to lose the predominance on the chain.
Using green and red coins Takamaka allows the initiator of the network to continue working on it and, even if he decides to transfer control of his tokens, he would not lose the possibility of operating within the network, nor would it cause significant price manipulation.
The green token is never exchangeable with the red one, but it is generated by the mining activity and can be purchased directly on an exchange platform. The red token has been generated in the zero block and its value is stable and guaranteed, so the coin ensures the stability and certainty of management costs on the network, such as transactions and smart contracts.
The green tokens created in the zero block are 99,000,000 : 5,000,000 of them used for governance; 37,500,000 of them (about 1/3 of all tokens, but less than 50% + 1 of the total produced in the zero block) distributed among financiers, lawyers, developers and marketing operations; the remaining 56,500,000 offered for sale to the public. A further 105,120,000, released over a period of 100 years as COINBASE. The red tokens, generated in the block of genesis, amount to 100,000,000,000.
Both the tokens belong to the utility genre, purchasable on the marketplace of AiliA SA as well as on exchange.
Takamaka is based on a self-consistent structure, in which the collective participation of the involved actors makes them honest and prompts them to improve the protocol, through upgrades and continuous bug fixes. The company makes available 5,000,000 green tokens to reward those who report improvement actions, by emailing the team at email@example.com and adhering to the Responsible Disclosure.
Applying this controlled and ethically correct model for reporting security vulnerabilities contributes to raising the level of protection of Takamaka services, helping the company to detect and take corrective actions, avoiding damage and/or disruption.
The project was born and developed after a previous and deep study of the public blockchains operations, carried out by Mr. Mario Carlini: he is actually CEO of AiliA SA and considers this technology as a new frontier for the creation of a suitable platform to serve businesses. AiliA SA was bought in Switzerland at the beginning of 2017, the project Takamaka started in October of the same year.
Currently based in the canton of Zug (CH), the company operates in the field of “Provisions of IT services” and innovation processes in the areas of technological transformation involving blockchain and AI.
Takamaka is an entrerprise platform that tries to address and solve problems of the existing blockchain protocols, to all intents and purposes it can be considered as a blockchain 3.0. While Ethereum (or several other competing Blockchains) has its own programming code called Solidity, which requires developers and businesses to learn and understand how it works before they even start any development phase, Takamaka ( thanks to Java) lowers the barrier to the blockchain world, since it does not ask its developers to learn a new programming language to create contracts.
In this way, Takamaka runs to fully satisfy the B2B environment and beyond, significantly reducing any learning problems and any barriers that hinder the number of developers and companies interested in starting their own business model in the blockchain world.
To view the white paper and technical documents, please visit www.takamaka.io
Stay Tuned. Download our white paper: https://lnkd.in/gkhU5cf
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