HPB, or High Performance Blockchain, is a blockchain technology that aims to solve crucial problems in the blockchain world. Find out how HPB works today in our review.
What Is High Performance Blockchain?
High Performance Blockchain is a new blockchain architecture designed with the goal of being an easy-to-use, high-performance blockchain platform. It’s built to extend the performance of distributed applications to meet real world business needs.
To achieve these goals, High Performance Blockchain was created based on an architecture similar to an API operating system. The software architecture offers features like accounts, identity and authorization management, policy management, databases, and asynchronous communication across thousands of CPUs, FPGAs, or clustered program schedulers.
Importantly, the High Performance Blockchain can also support millions of transactions per second and provide authorization within seconds.
High Performance Blockchain Features
HPB’s blockchain technology comes with all of the following crucial features:
HPB is open source technology. Like with most open source platforms, HPB made the decision to rely on a large pool of talented developers. Open source also means faster software integration. Commercial users don’t have to pay to use HPB’s blockchain, and free usage means more users and more attention.
Support Millions Of Daily Users:
HPB will support millions of transactions per second and millions of daily users. The whitepaper specifically mentions how applications like Google, Uber, and BAT require the processing of millions of active users each day. HPB could be used for similar enterprise applications.
HPB will provide confirmation within seconds. One of the primary ways in which HPB will compete is with its low latency.
High Throughput, High Concurrency:
Applications like exchanges can only execute operations serially – not in parallel. High Performance Blockchain plans to provide powerful serial capabilities. The platform plans to provide powerful parallel processing capabilities, parallelization of most tasks, and a combination of hardware and software architecture allowing blockchain TPS to be raised by two orders of magnitude.
HPB accomplishes its high throughput and high concurrency with the use of TOE technology, which aims to accomplish some or all packet processing tasks through a dedicated processor on a dedicated network card.
HPB is designed around blockchain-dedicated hardware acceleration units – including hardware and firmware acceleration – as well as software engine matching – including system driver and software interface API hardware acceleration. In more straightforward terms, that means high performance and high speed concurrent computation through parallel processing of CPU, GPU, FPGA, and serial ASIC chips.
DPOS Consensus Algorithm:
HPB uses a delegated proof of stake (DPOS) consensus algorithm. This algorithm, explains the HPB whitepaper, “is the only one capable of combining the previously mentioned performance requirements.” Using this algorithm, the whole network of token holders can vote through the system to appoint new block producers. And, once elected, anyone can participate in block production.
Block Production Every 3 Seconds:
HPB expects to produce a new block every 3 seconds. At any point, only one producer is authorized to produce blocks. If a block production falls at any time, then that block will be skipped.
The blockchains maintained by the DPOS algorithm are 100% online. After an average of 1.5 seconds, a transaction will be written into the blockchain and all outgoing nodes will be aware of the transaction. In only 1.5 seconds, a transaction can be identified as 99.9% confirmed – which means it’s been successfully received and recorded onto the blockchain.
Role-Based Privilege Management:
Privilege management, in the world of blockchain technology, helps define whether or not a particular message is properly authorized. The simplest way in which this is done is to check if the transaction has the required signature. HPB, on the other hand, provides a “declarative rights management system that allows for high-level account granularity and control for anyone at any time.”
The HPB blockchain provides a series of blockchain data access and interaction interfaces – i.e. APIs. The platform uses JSON-RPC and RESTful API to support various data applications and development languages.
Smart Contract System:
HPB has a complete smart contract system. Each smart contract acts as a yoke on the asset management lifecycle. Submission, deployment, usage, and cancellation are completely controlled and managed by the smart contract. There’s also a smart contract auditing system that involves a combination of automatic auditing tools and professional auditors. To make smart contract deployment as easy as possible, HPB has a smart contract template that can be used for general business applications.
General Virtual Machine Mechanism:
HPB has a general virtual machine (GVM) mechanism built with the goal of supporting virtual machines and adding new virtual machines over time. The virtual machines can be used with HPB smart contracts. They’re lightweight and support multi-level contracts.
The High Performance Blockchain ICO
The HPB ICO has been a bit confusing. The ICO didn’t start on its originally-scheduled date. However, it appears the ICO has already been completed. The first two phases of the ICO were completed in June and July. Crowdfunding participants received 36% of the total supply of coins (an additional 10% of coins were sold to presale participants).
High Performance Blockchain Conclusion
High Performance Blockchain, or HPB, is a blockchain designed to solve crucial problems in the world of blockchain technology. The development team has created a blockchain capable of processing millions of transactions per second. That blockchain supports smart contracts and uses a DPOS consensus algorithm.
Stay tuned for more information about High Performance Blockchain as HPB continues its development.