THE PROCESS OF CREATING TRANSACTION AND BLOCK.
π The sender creates a transaction that is signed and has all the required information.
π The sender then adds the transaction to their local Queue Block, and they are allowed to add as many transactions as they would like, including incoming transactions.
π The sender completes the block at the time of their choice by signing it and broadcasting it to the network.
π Finally, the new block is then broadcasted across the network, and the receiver sees it.
π The receiver adds the transaction to their own queue block which they can also complete at their own chosen time.
π The transaction is done when its present om the sender and the receiver blockchains and the blocks on each end have come to a consensus.
THE STAKING REWARD SYSTEM.
This system is designed to incentivise the nodes which are actively participating in keeping the network healthy. There will be two types of awards on the Helios protocol:
π The first one is a simple one which is proportional to the number of coins held over a given period.
π The second one is that which will reward node uptime and network participation. It will only be available to master nodes and full nodes.
ADVANTAGES OF THE HELIOS PROTOCOL.
It is of high speed, and itβs also scalable.
Each wallet address has its blockchain. The parallel blockchain infrastructure results in numerous orders of magnitude higher transaction throughput than Ethereum or Bitcoin.
dApp platform.
The platform will be able to execute smart contracts and dApps programmed in solidity. The team is also taking measures to make sure of rapid growth and overall adoption of the ecosystem.
Security.
The platformβs consensus mechanism ensures that the same level of security and immutability is maintained as PoW while also offering additional features like slashing, which doesnβt exist with PoW.
Lack of an ICO.
The Helios project is fully self-funded and will not have an ICO. Instead, they will be giving away all tokens to bounties, airdrops, dApp incubator, exchange listing etc.
Low transaction fees.
The high transaction throughput and also low upfront and continuing cost of nodes will lead to transactions which are orders of magnitude lower than Bitcoin and Ethereum.
They are green.
The platformβs consensus mechanism does not need mining, and this results in 6000 to 9000 less usage of energy compared to Bitcoin.
Order of transaction.
Each user gets to decide the transaction order of the transactions in their wallets and they cab be able to add blocks to their blockchain at any time they like.
Itβs truly decentralised.
All aspects of the platformβs consensus mechanism are designed to get rid of power centralisation, from not needing delegates to complete control of individual blockchains.
CONCLUSION.
The Helios platform has created a native token on Ethereum referred to as HLS to allow people to take part in the Helios community while they developed the main net.The protocol is expected to be on the order of 50 million times faster than Bitcoin and manage to increase the volume of transaction linearly with the number of users who use this protocol. Decentralisation of power and democracy are the two pillars on which the protocol is built on, be a part of the team now!
π Website: https://heliosprotocol.io
π Whitepaper: https://heliosprotocol.io/#project-tabs-indicator-white-paper
π Telegram: https://t.me/joinchat/GSuKeBGme_EoTjHCiGmupQ
π Twitter: https://twitter.com/HeliosPlatform
π Facebook: https://HeliosProtocolPlatform
π Github: https://github.com/Helios-Protocol
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Author: jamesndungu1
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BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
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All Images credited to THE HELIOS PROTOCOL
You always have great project summaries! One additional bit of info you might consider adding to them is an indication of project maturity. Is it fully operational or still in alpha status, for example. Any project planned milestone dates would also be helpful if available. That would help the reader to decide if it is something that they want to look into now or after it is farther along.
@jdkennedy Thank-you very much for your positive feedbacks ! I'm also glad you are following up on the projects I post on my steemit blog. Starting from today i will start adding the projects roadmaps and milestones on my articles - I Acknowledge it will also make it easier to know the status of the projects when reading my articles in the future and most important help early backers who are the majority of my readers.
Thank-you very much!
Hi, @jamesndungu!
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