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Hathor — breaking the "impossible triangle" in the blockchain field

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Hathor breaks the impossible triangle of the blockchain and achieves a dynamic balance between scalability, decentralization, and security.

Original author: Blockchain Blue Ocean Little Li

Impossible Triangle (trilemma), or known as "Trilemma" means that in a specific situation, only two of the three favorable options can be chosen or one of the three unfavorable options must be chosen. This kind of choice dilemma has relevant cases in various fields such as religion, law, philosophy, economics, and business management.

District Blockchain is no exception. The impossible triangle in the blockchain is: Scalability, Decentralization, and Security can only choose two of them.

Although blockchain technology has irreplaceable However, it can also be found that there are some problems in blockchain applications led by Bitcoin and Ethereum, such as operational efficiency issues, 51% attack issues, centralization issues, and waste of resources.

Someone raised a question: "Why do we need to distinguish What about blockchain?"

Blockchain is a distributed ledger technology, but distributed ledger technology is not limited to the technical form of "blockchain". In the wave of digital economic development, in order to improve the original technology and meet more practical business application scenarios, more distributed ledger technologies are being explored and applied.

Directed Acylic Graph (hereinafter referred to as "DAG") is one of the representatives.

DAG is a mathematical model and data structure. It consists of vertices connected to unidirectional edges, there's no way to start at a vertex, follow an edge, and end up back at the same vertex - so it's aperiodic. Compared with the blockchain technology in the narrow sense, DAG technology has its innovations. In theory, it can achieve high scalability and high decentralization without considering evil. Blockchain technology. In the impossible triangle, DAG occupies the two aspects of decentralization and scalability.

But unfortunately, This type of traditional DAG project does not use the concept of blocks, but directly forms transactions into DAG, which makes it difficult to choose the correct difficulty for its PoW. There is no way to determine the total order of transactions, only the partial order, so smart contracts cannot be supported. Its basic consensus algorithm does not work, relying on a centralized coordinator to maintain order and correctness. The higher the difficulty, the longer the transaction delay, and the lower the difficulty, the lower the security of the system.

Is there a way to use blockchain and DAG Between the two learn from each other?

Hathor is an easy-to-use and highly expandable blockchain consensus platform, Hathor will The new distributed ledger architecture uses DAG and blockchain data structures intertwined and consists of a completely novel architecture based on the concept of combining DAG and blockchain technology. Hathor breaks the impossible triangle of the blockchain and achieves a dynamic balance between scalability, decentralization, and security.

Hathor's architecture is between Bitcoin and DAG, Hathor solves the traditional cryptocurrency A major challenge in , the scalability and decentralized maintenance problem across distributed ledger networks, by including a chain of mined blocks in a DAG transaction. When the number of jobs in the network is small, the blockchain ensures security, and when the number increases significantly, DAG prevails.

Hathor's development has benefited from its founder and CTO Marcelo Salhab Brogliato's Ph.D. A research paper written, based on the Python language to write the source code from scratch, it is not a branch of Bitcoin or Ethereum, nor is it another cryptocurrency platform, and finally launched after seven years of continuous exploration. It is worth mentioning that some members of the founding team even began to participate in the cryptocurrency industry in 2011.

From a technical point of view, Hathor has the security of PoW, through innovative ledger structure and Consensus algorithm to break the performance bottleneck of the consensus mechanism. In this way, the throughput rate of the public chain can be improved and the transaction confirmation delay can be shortened while ensuring safety, reliability and sufficient decentralization. Hathor can support high TPS, and the transaction latency is also very low.

Hathor creates a high-performance, scalable blockchain network on its own network, And bring a lot of convenience.

Enterprises and customers can freely issue their own Tokens for multiple-purpose transactions in just a few simple steps without paying Gas. The security and performance of the issued Token will be as powerful as Hathor's HTR. These Tokens can serve a variety of needs: such as replacing company equity, paying for specific stores or online points or voting, ownership of digital goods, etc.

Nano Contracts is Smart A simplified version of a contract where two or more people transfer their funds over the Hathor network into a special transaction called a Nano contract. A contract is simply a set of rules that determine the final distribution of funds, i.e. how many tokens each contract participant will receive. Another important concept in Nano Contracts is oracles, which are the submission of information from the real world (outside the network) into the Hathor network.

HTR is Hathor's ecological pass, and It is the first asset built on it. While serving as an example of assets, it has built a "digital real estate" economic model.

HTR will be distributed in the form of pre-mining and mining. In 20201 On March 3, 1 billion HTRs were pre-mined in the genesis block, and the pre-mined HTRs will be used to support the development of the Hathor ecosystem, community and applications. The pre-mined HTR will be used in strict accordance with the plan stated by Hathor Token Economics.

The remaining Tokens are all produced by mining , using the same sha256d consensus algorithm as Bitcoin, this process does not require the participation of a centralized institution, ensuring a fair allocation of resources.

Hathor does not charge to create The cost of the new Token is also different from the fact that Ethereum needs to consume ETH as a gas fee, but requires each Token creator to store some HTR, and these HTR can be retrieved if the Token they created is destroyed.

To put it simply, This is similar to buying land and building your business on it. So when any token creator buys HTR to mint their tokens, they have to buy HTR (land). When the decision is made to close the company, the land can be sold.

It is worth noting that creating a new Token The more users, the greater the demand for HTR, because the land is limited. A network with excellent performance, security, and scalability like Hathor will inevitably have many companies issuing on it, which is where the value of HTR lies.

It is worth noting that HTR will usher in The first halving event! At the beginning of January, the issuance of new HTR tokens will be cut in half. From that date, miners will reduce the reward for each mined block from 64 HTR to 32 HTR, which is expected to happen on January 3rd.

Bitcoin put us It has been brought into the era of decentralization, but it faces the constraints of performance expansion. Many DAG projects led by IOTA have fallen into the trap of pursuing performance by sacrificing decentralization, the most important feature of the blockchain.

Hathor was in the second It has a unique characteristic of high scalability and high decentralization, which creates a perfect environment for multiple distributed applications. Hathor makes Bitcoin-style mining more inclusive, breaking through performance scalability bottlenecks. Hathor enhances innovation and applications in the blockchain space while defending the decentralized nature that Bitcoin brings to us.