Technology Strategy of Hdac Technology
Dear Hdac Technology supporters,
There was a press conference on March 13th, to announce the business strategy and technology roadmap of Hdac Technology and Hyundai Pay at Grand Intercontinental Hotel, Seoul. We will share with you in three parts the contents of the press conference which was held with a lot of public attention, and in the first part, we would like to examine the technology strategy of Hdac Technology for the year 2019.
Hdac Blockchain Platform
Hdac MainNet Bridge Node includes a side chain core and is thus operated in a structure optimal for DApp ecosystem architecture and provides Bridge Node based contract services. Hdac is a hybrid blockchain platform that integrates public and private blockchain and is designed as a blockchain-IoT integrated enterprise architecture to which different needs of various industries could be applied.
• Hdac MainNet is designed with a focus on issuing tokens and providing DApp services that are applicable to various industrial environments, and the development of Bridge Node based contract services with a role to enable constructing a separate side chain will be completed in March 2019.
Bridge Node includes a Private Key that identifies individuals by adding layers which deal with contracts by linking the MainNet core and the side chain core of DApp partner MainNet, and thus, it is possible to clearly figure out who owns the contracts that occur in the Hdac network. This technology enables tracing of contracts and is anticipated to secure reliability and scalability.
•For the efficient network behavior of Hdac MainNet, we have started research and development on a new protocol in order to upgrade ePoW (PoW based on equitable chance and energy-saving), the current consensus algorithm, to PoS (Proof of Stake) based consensus algorithm.
PoS (Proof of Stake) is a category of consensus algorithm in public blockchain that is based on the economic stake (deposit) of the verifier in the network. A consensus algorithm based on mining is a consumptively competing method which involves capital injection for more hash power such as more mining rigs, electricity, space, and etc., therefore, upgrading it to PoS could increase energy efficiency.
Moreover, PoS secures the autonomy of architecture design against network offensive actions. This will enable definite punishments (such as forfeiture of deposit, etc.) for acts of sabotaging the network utility and accuracy or harassing the network; therefore, it would be possible to secure network security with economic safety.
Finally, this method would also prepare for attacks that may occur with the increase of Hdac coin price and prevent concentration of block reward on specific miners.
Hdac will develop a next-generation PoS consensus algorithm which grants economic incentives and considers public interest such as energy saving, environmental effect, distribution of wealth, etc.
•We have started research on technology for Security Token issuance based on ERC-1401 Standard, and are in the process of researching on smart contracts for the issuance of tokens, transactions, white labeling, and etc.
• We are in the process of developing blockchain framework technology and solution for the enterprise solution business as well as planning to construct the environment for enterprise solution development and secure framework by completing development of the SDK(Software Development Kit) and the API(Application Program Interface).
In particular, by supporting DevOps, we will support the prompt and simple development, construction, testing and distribution through Hdac based blockchain infrastructure.
• We will provide BaaS (Blockchain-as-a-Service) solution that enables easy and convenient construction and operation of blockchain-based infrastructure and services — easy and convenient even for a company not specialized in blockchain. In this regard, we are in the process of reviewing potential partnership with a globally renowned cloud provider in order to provide the best quality enterprise blockchain services and secure global market competitiveness; we anticipate some good news in the near future.
We have so far looked at the technology strategy within the business and technology strategy of Hdac Technology for the year 2019.
The Hdac platform provides the multi-signature function for escrow and secure transactions, protection of the Node manager authorization through the ASM, and construction of the quantum random based system; it will cover diverse blockchain demands of the clients in the era of the fourth industrial revolution by integrating IoT, AI, big data and FinTech.
In our following postings, we will look into the business strategies of Hdac Technology and Hyundai Pay.
Any question or recommendation would be welcome on Telegram! There will be more updates and events announcement on the Medium blog for the Hdac community.
Please refer to the following links and stay in the loop.
*Website : https://www.hdactech.com
*Medium : https://medium.com/@hdackorea
*Facebook : https://www.facebook.com/hdactech
*Twitter : https://twitter.com/hdactech
*Youtube : https://www.youtube.com/channel/UCGQXVXTs7RllAirD3YjjZIQ