Recently, Blockchain technology has been firmly embedded in many aspects of human life. The creation of this cryptographic technology for many is a colossal breakthrough in the field of transactions. Many attribute this technology to the same importance as the invention of an incandescent lamp or the Internet itself. But, at the moment there are many, yet unresolved problems related to the use of this technology. There are the following problems of Blockchain technology: speed, scalability and quantum security from extraneous attacks. All these problems severely interrupt the process of introducing Blockchain technologies into the large-scale sector of the world economy. Today, we'll look at one project that extends Blockchain's capabilities and removes all its flaws, allowing the creation of Blockchain 4.0.
There are many sites that develop new Blockchain technologies, for example, NEO and ArcBlock. All these projects do not have enough functionality to call themselves Blockchain version 4.0. As a rule, such projects do not have an extended user-defined functionality, which gives its actions greater freedom. Let's take a closer look at all the existing problems of such sites.
The main problems
When verifying any transactions, the system performance is important. At the moment, existing technologies can not deliver the desired performance, which has a direct effect on the speed of transactions in the chain.
The difficulty in using Blockchain. To date, most of the existing applications based on Blockchain technology are quite difficult to use. It is very difficult for a simple user to understand all the features and functions of the system itself, which makes it unsuitable for mass use.
Great expenses. For most projects, this shortcoming is a big obstacle to development. The high cost of the product, makes the company think about the feasibility of implementing the system. There is also a great risk that after the introduction of this product a cheaper analogue will appear.
Sudden blocking of the network. As a rule, this term is not always clear for beginners. Any project in the Blockchain system can be easily blocked, which is why you need to allocate additional resources to bypass these vulnerabilities. Developers of the application must find ways to solve and work around this problem.
Small functional. Everyone says that Blockchian technology has unlimited almighty functionality, but in fact it is not. Even now Blockchain technology is only beginning to develop, that's why a lot of functionality developers create independently, thanks to the system's modernization.
Proceeding from the problems suggested above, it is not difficult to guess that the technology market requires modernization and even reorganization of the Blockchain network. It is necessary to completely restructure the system so that all the listed vulnerabilities can be eradicated.
Technologies
In order to be able to correct all the system's shortcomings, the following technologies will be used:
For complete anonymity of the network, TOR and VPN technology are used, which were correctly implemented in Blockchain. Using these technologies will minimize all risks of transaction tracking.
Structural technology of data encryption HashNet. By implementing this technology, the amount of memory that is spent on the nodes of the system is significantly reduced. Because of this, the speed and security of passable transactions is increased.
Two-factor authentication of passable data. This data verification is achieved through the interaction of HashNet and BA-VRF technology, which improves the process of confirming transactions in the chain. By implementing this authentication, the network speed is increased to one million transactions per second.
The mechanism of protection from quantum attacks. For the security of the network from third-party attacks, the NTRUsign system is used, which operates on a lattice protection algorithm. This system will protect the entire chain from third-party quantum attacks on the system.
A system that allows you to make all data anonymous. This algorithm is based on the already existing sites Zcash and Monero, which perfectly showed their capabilities in the field of anonymity of all the passing information on the network.
Virtual smart contracts that support Turing and NoTuring contracts. This technology has full access to all Blockchain systems and can be used simultaneously in contracts of various types, whether public, private or legal entities.
Cross-sectional circuits. With the help of the specialized technology InterValue, it is possible to create duplicate or cross-over networks increasing the speed of the system, while preserving the security and independence of all passing data streams.
Integration. Simplification of the integration methods and the creation of user interfaces will take place using the json-RPC system. This technology is designed for simple integration of Blockchain technologies into existing distributed networks.
Token
This project has its own crypto currency, which received the abbreviation INVE. In total there are about 10 billion INVE coins. At the start of sales of its currency, the company received 45 thousand ETH coins, at the rate of 1 ETH - 20k INVE. The minimum amount, which could include investors - 100 ETH, which is quite a lot for a young project. Based on these indicators, it can be understood that this project is more intended for large commercial organizations.
Let's take a closer look at all the functionality that can be used with this crypto currency:
payment of all commission fees and transactions passing through the system;
integration into trading exchanges, currency exchange between users;
work with the help of smart contracts, direct support for the development of the project;
creation of a system of user rewards for fast and convenient currency mining;
the development of additional diverse functional that will expand the platform's capabilities.
Conclusion
At the moment, Blockchain technology has many shortcomings and flaws. All its shortcomings do not allow it to reach the required level, which is why the developers of this platform rely on the great popularity of their technology Blockchain version 4.0. Because InterValue will solve and improve many Blockchain systems, increasing the performance, speed and security of the entire network. This project clearly deserves everyone's attention and has a full right to exist.
Website: http://www.inve.one/
Whitepaper: http://www.inve.one/InterValue_whitepaper_en.pdf
Facebook: https://www.facebook.com/intervalueproject
Reddit: https: //www.reddit. com / user / intervalue /
Github: https://github.com/intervalue
Twitter: https://twitter.com/intervaluepro
Telegram: https://t.me/InterValueProject
Medium: https://medium.com/@ intervalueproject
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