Hello! I always wanted to start my personal cryptocurrency blog , but every time i postponed the case until I saw this Canadian based project that seems to me to be interesting and intriguing at the same time. So, please let me introduce you to Helios protocol! Helios protocol is not just a new cryptocurrency, it is a smart contract and dapp platform, unique and structurally strong project. So, lets see what they could offer to us.
High speed, Scalable
One of the hallmarks of the Helios protocol is that their platform is everyone's wallet address has its own independent blockchain. Transactions only need to be added to the blockchains of the two parties involved in the transaction, ie. the sender and receiver. This allows transactions between different users to occur independently and simultaneously resulting in a transaction throughput many orders of magnitude greater than current blockchains.If you take the example of the presence of 100,000 wallets, then you will have 100,000 chains that will work in a parallel. Accordingly, when you sending a transaction it only needs to be added to 1 of the chains, then later, the receiver chain adds a receive transaction. This process is entirely independent of all other blockchains on the network so they can all send transactions at the same time and that not effect each other, but as the chains grow larger, the lower blocks become tangled with all of the other blockchains in a hash-graph created by all of the send-receive pairs. So these adds an additional level of immutability for the older blocks, while still allowing the new blocks to be added in parallel which dramatically increases transaction throughput. Technically Helios protocol can support something like 225 million tx/sec!
Security and Immutability
Well, if you consider what Helios offers to us in terms of security it is worth noting that the Helios consensus mechanism, which is based on both PoS and the very well understood physics of magnetism, is able to provide security an immutability to the same degree as PoW. It also provides additional measures not seen in PoW that increase security further.
As noted above each wallet address has its own blockchain, and the wallet must sign all blocks on the chain. This makes it impossible for anyone to edit the contents of another wallet’s blockchain. Therefore, if a block or transaction is changed after reaching consensus, there is immediate proof that it was changed by the owner wallet. This allows the network to immediately identify the offending wallet and slash their funds. The amount of funds that are slashed are chosen to completely eliminate the economic incentive to break the protocol rules.
First thing that I worried about -what will happen if my computer with Helios wallet will crash? Here is answer from the team that I founded:
All wallet blockchains are propogated to all full nodes, so a wallet can have its computer crash, then loose its blockchain. But the network will still have it.
Each wallet has its own blockchain, and the group of all blockchains makes up something called the blockchain database. Then each full node and masternode keeps a copy of the entire blockchain database, so nobody has to worry about loosing their blockchain.
Helios is green
Caring for ecology is generally something new in the cryptoindustry, I can not remember any project that would put it in the priorities.
The fact that the new consensus mechanism does not require the mining process dramatically reduces energy consumption.
If you peel a technical white paper, you will find calculations of energy consumption of Helios in comparable with Bitcoin and they will affect! According to them Helios protocol will use approximately 6000 and 9000 times less energy than the Bitcoin network with the same number of fullnodes!
No ICO
Also, I'm impressed with the decision of the team not to conduct IСO.
In fact, for today, far from everyone is able to participate in the ISO. Major investors have privatized the market and have most of the stakes, while decentralization and democracy have shifted to the background.
In this case, the tokens are planned to be distributed through the airdrops, bounty and other actions that will be held among active members of the community. Also, part of the tokens will be used to finance the developers of dApps.
All this is planned to be carried out within three years, and during this time the tokens will be distributed among a large number of people, which will be in line with one of the main principles of cryptocurrency – decentralization.
In fact, you can familiarize themselves with the distribution of tokens in the picture below.
Of course, this is not all the peculiarities of Helios, there are still
-low transaction cost
-dApp platform
-transaction order
-decentralization and democracy,
but I hope you are interested and want to independently explore the Helios and decide what is more attractive to you.
I want to add that Helios has already begun the airdrops (already held 2). Also welcome articles and videos. More information about the project can be found on their website, as well as on their pages in social networks and chatrooms. From myself add that communicating with the team is really nice - they are friendly pleased to answer in detail the questions and it is really important for building a large community.
So do not waste time and join a new community where you will always be welcome.
Website: http://heliosprotocol.io/
Discord: https://discordapp.com/invite/M6GH37P
Telegram: https://t.me/joinchat/GSuKeBGme_EoTjHCiGmupQ