‘Creating DApps Can Be Simple’: Platform to Bring Decentralized Economy to Mass Adoption

A new project from Dubai, HetaChain, is developing a universal blockchain platform with “industrial scale computational capabilities.” The project is intended to make blockchain more easy-to-use and flexible for regular users and developers. HetaChain aims to help governmental services, businesses, and organizations create decentralized applications (DApps) and integrate them into different industries, such as banking, e-commerce, robotics, and healthcare.

Solving blockchain issues

The new Heta Blockchain 3.0 Platform, launched in 2018 by Relam Investment and its founder, Sultan Ali Rashed Lootah, runs a hybrid of the Delegated Proof-of-Stake (DPoS) and a Byzantine fault tolerance (BFT) consensus mechanisms which are designed to bring security to fight against cyberattacks.

According to the company, the hybrid consensus algorithm will be able to handle most of the challenges that many blockchain platforms are currently facing. These limitations include issues with security, difficulty in developing DApps, and the speed of the network. For example, Bitcoin can process only seven transactions per second (TPS), compared to Visa which can process 24 TPS. HetaChain says its technology allows for fast TPS “without the risk of downtime.”

Mainchain

The core element of HetaChain is Mainchain, the place for storing all of the public tokens. The tokens will be validated by master nodes and Mainchain will also generate multiple private chains that can be private channels for different users like a person, a company or an organization. They will have control over their own chain and will connect to the public MainChain via a special communication protocol.

The Heta Blockchain is powered by an internal cryptocurrency, HETA, which can be used to pay usage fees. There are two types of payments: the first one is the transaction fee that is paid once the user exchanges coins or tokens made by Heta. The second fee is an endorsing reward, which is paid when the user is involved in consensus or the validation process of a private chain or MainChain.

“Drag, drop, adjust”

For users without the knowledge of developing DApps, the platform offers ready solutions in the DApp Store. There will be plug-and-play DApps, software, and smart contracts, pre-built by the community or third parties for the HetaChain ecosystem. Those who want to try to create a simple smart contract can use an auto generation DApp. The company says that anyone with even basic programming skills will be able to handle it by dragging, dropping, and adjusting elements. An off-chain Database will also be available. The project’s development is planned to also be supported by a big data analysis which will be provided by third-party data centers connected to the MainChain.

There will be one more Relam Investments’ project powered by HetaChain technology and based on the smart contracts. T-Hub system is the place for integration of stakeholders in business and logistics operations like ports, customs, government agencies. Relam Investments will offer logistics services which are “fast and easy to use.”

Hetachain team

The founder, chairman and CEO of HetaChain is Sultan Ali Rashed Lootah, who has been a vice chairman of Mashreqbank PSC since March 18, 2015 and its director since 1996. The co-founders of the project are Mr. Ali Juma AlAjme – director of the United Arab Emirate’s Ministry of Health and Prevention’s IT Department, and Duy Phuong Nguyen, the vice chairman of Relam Investment. Nguyen has experience in leading finance and banking projects in VieVietnam Industrial Securities and Vietnam Commodities Exchange.

Recently, Relam Investments announced their plan of expansion to India. The company said it will start with initial investment of around $250 million in technology startups and real estate projects.

 

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Dash Partners with Trivecoin to Usher in New Breed of dApps


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Dash — the world’s top 14 Cryptocurrency with total market capitalization of USD1.8 billion — has just entered into a partnership agreement with TriveChain. The forward thinking partnership will allow Dash to integrate its payment system into BizStore, a blockchain market place powered by TriveChain. This integration will enable applications (BizApp) in BizStore to perform payment transactions not only using Trivecoin but with Dash coin also.

The intelligent integration of applications into a blockchain market like BizStore is a first of its kind to launch globally. Both Dash and TriveChain saw a great opportunity. WeChat — the Chinese messaging, social media and mobile payment app — generates billions of sales every year in BizStore. Through this innovative solution, app publishers would only have to pay a nominal fee with TriveCoin to list on BizStore, and enjoy higher profit margins, without having to incur the 30% sales commission that app publishers pay elsewhere.

The TriveChain community in Asia is growing fast; in part due to its cost-effective, efficient, and user-friendly features. Couple that with a payment transaction speed as fast as 4 seconds, and you see why the community is flourishing. App developers from around the world are joining the movement, building breakthrough applications on BizStore.The BizStore.io platform provides SDK thus simplifying the difficult process, in addition to build-and-get-paid. Development teams of any size can publish and bring their app to an untapped market, through BizStore in the Trivechain wallet.

Trivecoin wallet can be downloaded at both google playstore and IOS App Store.

https://play.google.com/store/apps/details?id=org.trivecoin.wallet&hl=en

https://itunes.apple.com/my/app/trivecoin-wallet/id1406948103?mt=8

Dash

Dash is an open source peer-to-peer cryptocurrency and decentralized autonomous organization (DAO). It features instant transactions, private transactions and a self-funded, self-governed organizational Structure.

Dash’s self-funded, self-governed organizational structure, referred to as the treasury system or decentralized governance by blockchain, makes Dash a decentralized autonomous organization (DAO). A global network of masternodes vote on proposals for improving Dash’s ecosystem. Approved proposals are funded from the treasury, which receives 10% of all newly created Dash, with 45% allocated to miners and 45% to masternodes. Running a masternode requires ownership of 1000 Dash. Dash’s network has grown to 4,100 masternodes since launch in 2014, making Dash’s peer-to-peer network one of the largest in the world.

TriveChain

TriveChain is the blockchain of TriveCoin, a core system of TriveCoin that allows new businesses to market their products and/or services on the TriveCoin community, and generate native tokens effectively through TriveCoin’s BizContract. This mechanism gives tremendous opportunity to any businesses to crowdfund their project via initial coin offering (ICO).

The process of tokenization is generated through TriveChain, where these tokens are virtual coins built on top of TriveCoin’s platform, making the tokens programmable and customizable to the developer’s needs. These tokens are open-source, self-governing, and free for anyone to use, whilst facilitating guaranteed agreements, token-based voting systems, digital currencies for decentralized apps and tokenized assets.

Additional features include utilizing both Proof-of-Work and Proof-of-Stake based algorithms in a hybrid fashion to increase security and sustainability, a rewards-based double-tier network known as Trive VIP Masternode Network (TVIP), ExclusiveSend which for increased user privacy protection and Direct Send, a decentralized instantaneous transaction system.

On July 1, TRVC had been listed on bitrabbit.com. Bitrabbit is Australia’s largest cryptocurrency exchange and supports dozens of currencies. The listing on Bitrabbit will give TRVC fluidity, enabling holders to buy, sell and exchange other major cryptocurrencies including Bitcoin, Litecoin, Ethereum and Zcash.

Where to find more information?

For more info about the Trivecoin project and the TRVC, visit the official Trivecoin Organization website and forum at trivecoin.org   for mining TRVC, you can visit the official Trivecoin mining pool at trivecoin.com, Kobepool.com and x11hashers.com.

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