Place/Date: - June 21st, 2018 at 1:36 pm UTC · 4 min read
Contact: HPB, Source: HPB
Node applications are scheduled to open to the public on July 1st. HPB is the first blockchain project in the world to have successfully applied hardware and software together to solve TPS congestion issues on the blockchain. The Node Plan not only represents HPB’s first open test of the community governance, but also shakes-off current rules adopted by “pseudo decentralization”.
The Node Plan is designed to leverage BOE technology, an efficient dual-election consensus algorithm, and data encryption technology to truly realize the original blockchain design for decentralization.
Unlike other permissionless blockchain projects that use a single election or application process, the HPB Node Plan introduces a hybrid election & invitation mechanism. As part of the node composition the election mechanism refers to 70% of BOE-Nodes that are determined by community voting.
The voter can be any individual or organization that holds HPB tokens, with each token being entitled to cast ONE vote. The invitation mechanism refers to 24% of BOE-Nodes that will be issued by official invitation to enterprises, academic research institutions, developers, and NPOs.
The remaining 6% of BOE-Nodes will be maintained by the foundation. The HPB team chose to expand upon an election-only process with the invitation mechanism to reduce the defects resulting from an election-only mechanism.
As announced, the BOE-Node deployment will be divided into two phases. The first phase marks the MainNet Go-Live where 150 BOE-Nodes will be created, 31 of which will be HP-Nodes. The second phase will see an extension of nodes, with 150 new nodes being added for a total of 300 BOE-Nodes, 61 of which will be HP-Nodes. The second phase is planned to commence one year after phase one.
With the node election lasting three months, BOE-Nodes will be re-elected as well accordingly. The node invitations cycle will last six months, for BOE-Nodes issued by invitation. During the election & invitation cycle any organization or individual applying to become a node will be subject to KYC procedures and subject to community supervision.
The HPB node election is divided into two phases. The first phase involves the node application and testing, which will be opened from 1 July 2018 to 31 July 2018. Once completed, the issuance and distribution of the first 200 BOE hardware units will be determined by ranking eligible applicants according to the number of HPB held.
The second phase involves the node election through voting. During this electoral cycle 105 out of 200 BOE hardware units will be elected as BOE-Nodes. In order to strengthen the network the first batch of BOE hardware will be distributed to community participants free of charge.
In order to participate in the BOE-Node network, users need the following:
The distribution of the block rewards will be divided into two parts:
The consensus algorithm can automatically create a HP-Node considering the BEO hardware’s performance status, which is tied to the node administrator to operate the BOE hardware abiding to the blockchain’s maintenance obligations. This mechanism maximizes equality and true decentralization; ensuring node ownership cannot be controlled by any entity with sufficient capital.
The cycle of HP-Node generation is every 10 minutes. The algorithm runs automatically, ensuring fairness for the node rotation while achieving high TPS on the system. High TPS performance is attributed to the high performance consensus algorithm, the unique system architecture combining hardware and software, and the embedded BOE acceleration engine.
HPB is changing the way we understand blockchain technology by driving innovation in the industry. HPB also recognizes the importance of a true scalable and high performance blockchain solution for DApp development and ecosystem building.
Hence, with the launch of the HPB Node Plan, all individuals and organizations are invited to participate in building the ecosystem and creating value for the industry and society.