Quote from: HAZZA Network on September 20, 2017, 05:49:03 AM

Quote from: Northa on September 19, 2017, 11:10:24 PM

Hi HAZZA Network

Everyone knows that blockchain scalability is a major problem. Hazza provide a payment system. Well, Is there a solution to the scaling problem?

Hi Northa,

Excellent question.

Remember that the technology behind HAZZA is a migration of Octo3's existing payments solution (which is centralized and is processing transactions today) to blockchain. The transition is in stages, so initially what will be migrated to will be the registration and network access services, which does not require a high tps. This is essentially the 'opening' up of the payment system. At this stage, the core transaction engine will still be centralized. It would be accurate to say that this phase adopts a hybrid model.

The ultimate envisioned goal is to have the entire solution on to blockchain, in a decentralized manner. The biggest strain in terms of transaction per second comes from the core transaction engine. At this stage we will be ready to do an evaluation of the appropriate technology. What is interesting is that we are not limited to Ethereum blockchain for this part of the migration. We have a couple choice categories:

- Use of off-chain scaling solutions (RAIDEN, Lightning)
- Use of blockchains that can handle high TPS (for example NEM, EOS)
- Creation of our own high tps blockchain

https://s1.postimg.org/9g04729pnv/bos.jpg

It will be truly disruptive to payments industry when entire solution is fully migrated onto blockchain.

What is even more exciting is the many more tps blockchains being developed eg. BOScoin targets 1000tps.

bonboniecoke

Posts

Merits