Scalability is a problem for every blockchain. The block size and block speed parameter changes (vertical scaling) that some chains have explored are narrow solutions to a broader problem. As blocks fill faster and the number of unverified transactions in the mempool increase, we revisit the same issues — high fees and the risk of centralization. In order for us to build a decentralized blockchain community, we must offer and contribute to Layer 2 protocols (horizontal scaling).
The Lightning Network is an off-chain protocol that will reduce the throughput requirements needed for UTXO chains, provide a layer of added security as well as privacy (onion routing) to compatible networks.
Where does Hcash fit into the Lightning Network?
After the main chain launch we will be uniquely positioned to assist similar projects currently in development on the Lightning Network. In particular, Hcash is looking to further explore research and development on atomic swaps. With atomic swap support, we can enable other chains to utilize our new quantum resistance signature scheme to protect their assets from quantum style attacks.
Throughput where it counts
Most ecosystems currently support their smart contracts and dApps on chain. However, they are constrained by block size requirements. Ethereum is too decentralized to support high throughput in its current state; NEO nodes are centralized. The principle vision for this project was for the primary blockchain to be accompanied by a side DAG. The design of this side DAG is evolving, as has its purpose. High throughput and low fees are necessary to support these types of applications.
Adding a layer on top of that DAG can allow us not only to achieve the necessary throughput to support smart contracts and dApps, but also support relays to communicate with existing like-kind protocols (Ethereum). Relays can allow the transfer of assets across chains and ensure that those assets are exchanged evenly. If this layer were an EVM, it would enable Hcash to offer throughput support to Ethereum and offer a new compatible platform for ETH smart contracts and dApps. More of this will be outlined in our yellow paper.
Where we are today
- Snapshot implementation and swap procedure
o Discussing exchanges who will be supporting the swap
o Snapshot date before main chain launch TBD
o Launch and swap process and planning under development
- Load/ Volume Testing continuing
o Post-quantum BLISS scheme is stable
§ Bitcoin NG testing may continue post-launch
· Exploring Lightning Network and atomic swaps provide exponentially higher possibilities for main chain
· Stability testing and evaluation of DAG-EVM
- BLISS Audit #2 continues
- Security Audit continues
- Organizing official South Korean social community
Where we plan to be next week
- BLISS audit complete
- Security audit complete
- Complete Load/ Volume Testing
- System penetration testing commences
- Prepare for Acceptance Testing
o Review from relevant exchanges to verify main chain meets system requirements and is ready for operational use
- Miner daemon testing
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