Recent two years, the Blockchain becomes hot, many investors have invested large amounts of funds into the Blockchain. And there are even some people that who have no idea about the Blockchain. Actually, the concept of Blockchain has existed for nearly ten years, and The Blockchain has developed gradually. When people want to figure out what the Blockchain is, it has quietly entered the 4.0 era with the birth of the InterValue.
From 1.0 to 3.0
1. Blockchain 1.0 — -Cryptocurrency.
In early 2009, the Bitcoin network was officially launched. As a virtual currency system, the total amount of bitcoin is defined by the network consensus protocol. No individual or institution can freely modify the supply and transaction records therein. The underlying technology of Bitcoin-the Blockchain is actually an extremely ingenious distributed shared ledger and peer-to-peer value transfer technology that has the potential to affect as much as the financial double entry book Invention.
2. Blockchain 2.0-Smart contracts.
Around 2014, the industry tried to create a common technology platform and provide developers with BaaS (Blockchain as service) services, which greatly improve the transaction speed, reduce resource consumption. Ethereum — the initiator of smart contract, took the Blockchain into the 2.0 era. The Blockchain 2.0 application add the concept of “smart contracts” (using program algorithms instead of human execution contracts). This allows the Blockchain to expand from the initial monetary system to the registration and transfer of equity, claims and property rights, the trading and execution of securities and financial contracts, and even financial sectors such as gaming and anti-counterfeiting.
3. Blockchain 3.0-Blockchain application extension.
After 2015, The application of Blockchain gradually exceeds the economics of coin, payment, and finance in the context of Blockchain 2.0. it gradually extends to healthcare, IP rights, education, and materials. Broader applications such as networking, sharing economy, communications, social management, charity and charity, culture and entertainment.
InterValue: the Bolckchain 4.0 era.
Currently, various types of underlying protocol projects such as EOS. NEO. ArcBlock and other projects emerge continuously, but most of them use Ethereum as a blueprint and update on this basis. They are far from criteria of Blockchain 4.0 Nowadays, most of project teams which implement Blockchain with application scenario are limited by performance, applicability and stability of underlying chain. Although some industry applications have been attempted, except for some financial sector applications and some entertainment applications, the application of the industry is still in the exploration phase. Under the ever-changing environment of the underlying protocols, the scene cannot be truly reached.
Therefore, there is an urgent need to study the underlying protocol of the Blockchain, and redesign or improve the various key technologies of the Blockchain to solve the problems such as transaction congestion, high transaction fees, long confirmation latency, weak anti-quantum attack capability, low anonymity of communication and transaction, weak crossing and merging chain capability, large storage space and etc. We aim to implement a real practical support mechanism for all levels of value transfer network, provide the infrastructure for all kinds of value transfer applications, and a underlying development platform for all kinds of DApps and practical and feasible solutions for constructing the global value transfer and value internet.
Key technologies in platform and features in Blockchain infrastructure are the topmost focus for InterValue. The features include the anonymous P2P protocols, a novel anti-quantum hash algorithm and a novel signature algorithm, a unique double-layer consensus and mining mechanism for transaction anonymous protection, a Turing complete smart contracts, etc. It uses fair distribution mechanism to support third-party asset distribution, cross-chain communications, multi-chain merging functions such as public chain, permissioned chain, consortium chain and other forms fall into the practical application of the Blockchain 4.0 infrastructure.
Main technological innovation of InterValue includes:
(1) Underlying P2P network, combining the advantages of Tor-based anonymity and Blockchain-based distributed VPN, we design a novel anonymous P2P overlay network, including anonymous access method and encrypted communication protocol, which greatly enhances anonymity of nodes in the network and ensures that it’s hard to trace node address and to crack communication protocol.
(2) Data structure, a new data structure Hash-Net derived from DAG (directed acyclic graph) is proposed, which greatly reduces storage space required by nodes and improves efficiency and security of data storage.
(3) Consensus, we design an efficient and secure double-layer consensus mechanism consisting of HashNet consensus and BA-VRF (Byzantine Agreement based on Verifiable Random Function) consensus, which supports high transaction concurrency, fast confirmation and building eco-systems for different application scenarios. In version 1.0, due to the fact that HashNet consensus is much diffcult to implement, we first implement a double-layer consensus mechanism combining DAG consensus with BA-VRF.
(4) Anti-quantum attack, new anti-quantum algorithms are devised, which replaces existing SHA series algorithm with the Keccak-512 hash algorithm, and replaces ECDSA signature algorithm with an integer lattice-based NTRUsign signature algorithm. These algorithms reduce the threat coming from development of quantum computing and gradual popularization of quantum computer.
(5) Transaction anonymity, based on anonymity characteristics of cryptocurrency such as Monero and ZCash, zero-knowledge proof and ring signature are applied to transaction anonymity and privacy protection, which performs with high cost-effective ratio and excellent security to satisfy privacy requirements in different application scenarios.
(6) Smart contracts, we design Moses virtual machine (MVM) which supports declarative non-Turing complete
contract as well as advanced Turing complete contract programmed in Moses language. MVM is able to access of Blockchain data conveniently and securely, and supports issuance of third-party assets, which can be integrated into applications in terms of public, permissioned (private) or consortium (hybrid) Blockchain.
(7) Crossing and merging chains, we adopt chain-relaying technology to solve the problems in crossing chains transaction and transparent operations among multiple chains, which not only can maintain independence of crossing chains operation, but also reuse various function of InterValue.
(8) Ecological motivation, various token allocation methods are used, which support double-layer mining for incentives.
(9) Industrial application, we design lots of industrial common interfaces in form of JSON-RPC. Satisfying different scenarios such as circulation payment, data transformation,data search and contract innovation.
So, InterValue will change people’s lifestyles extensively and profoundly, it will become the cornerstone of the entire industry and form a complete ecological system based on the Blockchain, which will inevitably use its advantages to reshape all aspects of human society.
Blockchain 4.0 rodamap
InterValue ecosystem
InterValue (http://www.inve.one) as a highly practical decentralized distributed application development platform, realizes various underlying network protocols of value transmission network, constructs global value Internet and provides basic network for various value transmission applications. It may completely reshape the existing Internet operating model, turn economic incentive system into a self-renewing system, and create a completely decentralized ecosystem of value-Internet and value transfer, and become the world’s first practical application to support large-scale applications. The infrastructure of Blockchain 4.0 is the cornerstone of building an industry chain infrastructure and the next generation of global value Internet.
you can know more: http://www.inve.one/