It is widely known that a new crypto solution is needed, that can meet the challenges of big business and big data. The world needs a platform that can process a large number of transactions per second, hashing and encrypting them while asynchronously verifying them with a private network of distributed nodes. Current blockchains are public and therefore very slow, not to mention the risks involved in a mining market crash due either to the value of the currency or the advent of a better paying opportunity for mining server owners. The excess security filling standard blockchain algorithms, needed to make the system fully public with no single owner, slows the system to a virtual halt. Ethereum, the world´s 2nd largest network, offers a maximum of 25 transactions per second compared to 2000 per second for processors like Visa and MasterCard.
While offering the same level of decentralization and redundancy expected from blockchain, Blocklite®´s closed door environment allows us to run a much lighter code that is able to process at an incredible speed of 100k transactions per second, pushing a public ledger of all hashes on the website www.blocklite.io.
Blocklite® will allow for real time transactions, processed in fractions of seconds, ideal for big banking, gaming and POS.
Basics of Blocklite®:
Benefits of Blocklite®:
The encryption engine takes care of all encryption tasks in the platform through a 256-bit encryption algorithm; ie: hashes, passwords, addresses, private keys. This ensures that even if data is leaked, it cannot be read.
Capable of generating and managing all hash assets in the platform. The hashes serve as a reference for all the platform assets.
Allows the platform to locate any application asset, i.e. transactions, blocks, tokens, nodes, authorizations, etc…
The search bar will include a filter of types as well as a single point search capability.
Allows management of user wallets as well as the presentation layer of the platform. Presents wallet details as well as maintains the wallet’s ledger. The wallet will integrate to Blocklite®, but also to other chains like Bitcoin, Ether, Light etc. Blocklite® on the other hand will only be compatible with Wallet Manager.
Creates and manages transactions in the platform; performs basic account status and balance validations on transaction creation.
The Blocklite® Distributed Authorization Nodes System (DANS) is an engine that manages and maintains an infinite number of nodes. These nodes exist to monitor and authorize transactions in a distributed environment. Meaning that the nodes will be running from different hardware located in different data centers around the world; the operation is a 24/7 year-round monitoring task.
At the heart of the projected speed of the platform is the Blocklite® DANS; because, on one hand, the multitude of nodes, locations, and hardware involved and on the other hand the prioritization monitoring algorithm that will assign the closest, least busy, active node to the authorization task.
Generates visual engaging graphics from real-time system parameters.
Creates and manages system notifications to the users; in the form of emails.
The asynchronous process engine creates, organizes and maintains queued tasks until such time when a resource is available to process them. It manages blocks and the authorization queue of such blocks.
Present and manages the reporting site; where all comes together visually for the users. Presents all the search capabilities allowed by the search engine.
Presents the public ledger through a secured SSL 256-bit website.
The website is natively responsive and will work equally well in a web browser, mobile or tablet on different operating systems and browser versions.
Controled and secure
The idea of Blocklite is to remove anonymity from the equation giving way to speed. Where anonymity and anarchy is Blockchain´s appeal, control and security is ours. We completely control:
2 extra nodes are located in a CPA and a Notary office ensuring fair monitoring at all times.
Because it does not have a public API or any public access to its source code, Blocklite® is just like it sounds: Light. A much lighter code allows for much higher speeds. The privacy of the code allows us to put security around the code instead of inside the code itself.
100k transactions per second
No mining fees
The complete chain of Blocklite® hashes is available on Blocklite.io´s public ledger. Various search options are available to the public.