High Performance Blockchain is one of the many exciting projects that have shone this year after going off the radar for some time.
To learn Bitboy’s predictions for this project’s token and learn more about it, as well as know-how to take part in the ongoing giveaway, make sure to watch the latest YouTube Video.
A Fertile Year for Blockchain Projects to Grow
2020 has been one of the most interesting years in the history of cryptocurrencies as new projects and niches have developed, increasing adoption and investing from people from all backgrounds.
This blooming of the crypto space has opened the door for blockchain projects to offer solutions on a variety of industries by creating new use cases and solving existing problems, as is the case for High Performance Blockchain (HPB).
HPB is a hardware-based blockchain that aims to provide unmatched scalability by combining high-performance blockchain software with its proprietary HPB’s hardware Blockchain Offload Engine.
It incentivizes its node operators with block rewards paid in HPB Coin, aiming to cover the cost of running a server with high specification requirements to help in the operation of the blockchain.
A different Approach to Blockchain Operation
The network works by using a predetermined number of nodes which is set to 150, with 31 being High-performance nodes and the rest candidate notes.
High performance (HP) nodes are in charge of synchronizing and generating blocks while candidates process the transactions that take place.
The blockchain has an algorithm that periodically rotates the nodes every 200 blocks, allowing Non-HP nodes to transform into one and vice versa, with availability, network/server speed, number of coins held and ranking in terms of community votes received being all factors that influence whether a node can become an HP-Node.
Two-thirds of the block rewards go to the HP node that generated the block and all of the candidate nodes, with 35% of this part going to the HP Node and the remaining 65% being divided between the candidates.
When not processing transactions, all Blockchain Offloader Engine (BOE) Nodes are still available for the work of verifying transactions, which is why the 65% is paid between them/
These BOEs, which are also known as candidate nodes, are elected nodes running HPB’s hardware accelerator inside their hardware components.
The remaining one third is allocated proportionately to the community votes the node acquired, as the blockchain has a community approach to governance that has been implemented since November of 2019.
Achieving True Randomness Through a Hardware and Blockchain Approach
High Performance Blockchain can produce truly random numbers where most blockchains are only able to produce pseudo-random numbers, which has a direct impact on the security of the network.
Random numbers are useful for generating data encryption keys as well as random sampling, with true randomness being a must for fairness in online gaming, lotteries, cybersecurity, and team draw.
All of HPB’s elected nodes achieve this by having a Hardware Random Number Generator (HRNG) chip and sensor combo in the BOE accelerator card installed inside each node operator’s server, also allowing Dapp’s to call the random numbers using a smart contract or API.
HPB’s HRNG senses variances in voltage of as little as 0.00001 volts to help generate the random string of 256 digits and letters added to each new block visible on HPB’s block explorer: HPB Scan.
Both the producer and user of random numbers are separated within HPB’s solution to reduce any chance of collusion, as this would compromise the randomness and therefore the security of the network.
The producers are the decentralized global nodes while the users are DApps and external systems who call for the services of the network.
Checking HPB’s open-source code and the HPB Scan data allows both producer and user to confirm a random number was created, making it verifiable and as transparent as such a process can be.
Achieving True Randomness is a Challenge for Major Blockchains
The generation of randomly generate numbers has been an ongoing problem for software development companies around the world as is an essential feature for the security of systems around the world, with companies like Cloudflare recurring to solutions like the use of hundreds of lava lamps to generate them.
Blockchain technology has not been indifferent to this challenge as the creation of blocks and cryptographic keys depends in large part of this process, with major projects like Ethereum being greatly affected by it.
Back in 2015, Ethereum listed Random Number Generation as one of its ‘Hard Problems’ as computers tend towards predictability as a complex algorithm for a random number generator would mean higher ETH gas prices.
HPB offers a more affordable solution for systems that require such randomness but can’t invest in an internal algorithm for its generation as the project’s CEO, Xiaoming Wang, states that “An important priority is to develop use cases based on the Hardware Random Number Generator. We aim to use this single strong point to break through and drive HPB’s growth in value.”
Articles on Bitboy may contain affiliate links that help us to remain profitable. It might come as a surprise, but all these great articles aren’t cheap to produce. If you don’t mind helping us out, please click on the links!