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[PRE-ANN] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat LIGO

Author Topic: [PRE-ANN] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat  (Read 2043 times)

July 09, 2016, 04:51:34 am
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HEAT.kani

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HEAT Ledger Ltd, a Finland-based Fintech startup, is launching a 3rd generation crypto platform coined H.E.A.T.

http://heatledger.com



What makes HEAT 3rd generation?

H.E.A.T. Ledger stands for Heuristically Enhanced Asynchronous Transactions Ledger, embodying a completely new way of structuring cryptocurrency and peer-to-peer decentralized asset ledger. Optimized for speed and architected in enterprise friendly Java for custom private chains, HEAT slices the currently used blockchain database technology to modular components and readily provides flexibly scalable server side technology for corporate needs of any size.

UNLIMITED SCALABILITY

HEAT's unbounded vertical scalability is only limited by the performance of the hardware used. Utilizing not a single blockchain , but a chain of blockchains - and removing embedded databases through the use of off-heap memory mapped binary files, the HEAT blockchain is able to sustain transaction throughput of at least 1000 tps 24/7. On our internal tests the HEAT JVM has been capable of achieving an unbelievable rate of several millions of updates per second on commonly available 16-core server.

DIRECT CRYPTO TRADING

Because the HEAT client hosts client side real crypto, integrated to the HEAT blockchain asset exchange through built-in invisible gateway, users can trade cryptocurrencies right from their wallet on p2p orderbooks without going through an exchange. This means that once your trade for ie. BTC/ETH goes through, you can use the BTC or ETH as you do normally. Bye bye withdrawal delays! Welcome multicurrency client and native direct exchange!

LICENSED MULTISIG FIAT WALLET

The unique HEAT crypto client provides access to major cryptocurrencies including BTC, ETH, FIMK and NXT. It also allows creation, transfer and trade of any custom assets created by operators of any size. Having multi-sig for currencies whose tech is capable of such - the client thus supports fiat money accounts secured with multi-sig private keys. HEAT Ledger Ltd has joint venture agreements in place with EU wide money transmitter license pending, making the prospect of transferring real fiat money in a cryptographic ledger a reality. One of the first, if not THE first - but certainly the first multi-sig fiat!

SMALLER BLOCK FILES HASH-CHAINED

Splitting blockchain into separate files for homogenous data types such as unconfirmed and confirmed balances, unconfirmed and confirmed asset buy and sell orders etc. makes HEAT able to function on many levels of node involvement. No longer does each user need to host the full blockchain - they can store just one or more of the sliced block files that are chained together in torrent-like manner to form a cryptographically secure, full blockchain. And of course they can opt for thin clients with either standalone app or web browser, no server software running at all.

HYBRID BLOCK REWARDS

For its block rewards granted every 25 secs in average, HEAT uses twin system: half of the block reward comes from traditional PoS (Proof-of-Stake) algorithm, while the other half is granted on PoP (Proof-of-Presence) basis for nodes that host the block files online. The HEAT algorithm monitors the presence of block slice files, and assigns higher probability for slices that have a smaller number of copies online. That way any discrepancy arising in the relative number of different block files is attenuated.

DISTRIBUTED SERVICES ARCHITECTURE

HEAT doesn't provide smart contracts as such - but it provides something we think is better; Distributed Services Architecture. DSA is HEAT's answer to blockchain based applications. What we have created is a stateful interactive communication protocol much like the HTTP protocol that is in use today for the web. This allows anyone in the world to write an application in a language supported by the JVM script engine (Java, JavaScript) and have the distributed app serve clients interactively using the blockchain as (encrypted) distributed state full memory space. Supporting Java, this is a never before seen feature on open source blockchains.

RUNDOWN OF HEAT HIGHLIGHTS (some items repeated for clarity)

1.  Technology to be used has been 5 man-years in the making
     a. Written in enterprise friendly Java
     b. Cryptography and p2p consensus code based on MIT licensed NXT
     c. Networking layers and many features based on FIMK development
     d. Architected with re-use for private chains
     e. Optimized for speed and instant high frequency trading
     f. Massively scalable through the use of not one single blockchain, but a chain of blockchains
     g. Completely remade HTML5 client / downloadable / app

2.  New memory mapped OS binary file sliced blockchain structure without db overhead
3.  Splitting balance storage from transactions and blocks
4.  Transaction throughput rate initially in the 1000 tps scale on legacy hardware
5.  Unlimited scalability depending on node hardware: Boost rates of 10k+ tps on standard 4-core Linux server
6.  25-second blocks, instant tx confirmations through websockets and replication layer
7.  Regular client startups are near instant since all that has to be loaded are the balance files (~1/10,000 the size of full blockchain)
8.  High frequency trading enabling instant matching of 1k+ trades per second stable
9.  2-tier reward structure: Proof-Of-Stake and Proof-Of-Presence (Online storage of blockchain slice files)
10.  Distributed Services Architecture (blockchain software robots, Javascript and Java)
11.  Thin client: Home users don't need to carry blockchain files but get rewarded to do so
12.  Replication layer: Vendor independent replicated database integration for corporate full node operators
13.  Remade, smarter networking protocol uses binary messages - on request basis only - between peers
14.  Non-blocking asynchronous websocket connections over Netty (Facebook, Twitter) enables high number of peer connections
15.  Offline smart vouchers (fully signed transactions that can be sent to the blockchain by anyone.)
16.  PIN protected account access to local wallet.dat, with secret phrase brain wallet backup
17.  Native A2A (asset to asset) custom tokens exchange with option for native non-gateway BTC price base
18.  Multicurrency crypto client enabling non-gateway direct crypto transfer
19.  Built-in non-gateway (direct real crypto) p2p exchange for client supported crypto
20.  Custom tokens, private tokens, colored accounts and white label software cloning readiness
21.  Multisig for FIAT currency tokens and several main target use cases:
       a. Simply value adding feature for the crypto client user security
       b. Facilitating implementation of p2p live crypto trading (asset exchange tokens auto match multisig real crypto)
       c. Enabling crowdfunding security and direct intake of funds (also “real” gated EUR, USD that have multisig security)
       d. Unique sales point: Multisig Fiat currency

22.  Crowdfunding / IPO capabilities heavily emphasized:
       a. Readily on-blockchain for DIY agile companies / geeks
       b. Licensed fintech corporate partner for turnkey crowdfunding service
       c. Cloned source / white label installation

23.  Unique, private human defined identifiers (email account format)
24.  Off-blockchain instant E2EE (end-to-end encrypted) P2P messaging
25.  Decentralized web shops with instant EUR payments (/pricing in any token)
26.  Major licensed corporate partners in crowdfunding, fiat currency token transfer and BTC exchange areas
27.  ICO tokens reward stock options for startup company IPO shares at lower price later in 2016
28.  ICO runs from July 11th 2016 through August 8th 2016. Currencies accepted: BTC, ETH, FIMK, NXT.

TOKEN DISTRIBUTION

HEAT Genesis block's preliminary release date is September 5th 2016. Before that there will be an alpha client and a testnet available in August.



ICO PHASE GENERAL INFO

For launching the HEAT cryptocurrency in September 2016, HEAT Ledger Ltd arranges Initial Coin Offering investment opportunity for the public between July 11th midday GMT and August 8th 2016 midnight GMT.

• 25 million HEAT tokens will be distributed to investors & stakeholders on pro rata basis.

If ICO is not fully reserved, 1 000 000 HEAT are locked up as an incentive and released for development crew after 1 250 000 blocks (1 year) from genesis. If ICO is fully reserved, a minimum of 500 000 HEAT will be purchased for the development crew from market by the ICO BTC funds after ICO closure.

ICO PRICING DETAILS

HEAT credits can be reserved either through escrow agents (described in the next section) or by paying a freely chosen amount of cryptocurrency to a designated BTC / FIMK / ETH /NXT account listed on the HEAT web site at http://heatledger.com/ico. Credits purchased through all of the channels are synchronized bona fide real time, and collected at the end of the ICO period to form the total reservation amount for final stake calculations. Each HEAT credit entitles to a portion of the full 25 Million HEAT token stack in pro rata basis. ie. if the full 25 Million HEAT are reserved, each credit will receive 1 HEAT. If less than 25M HEAT are reserved, each credit will receive more than 1 HEAT. HEAT Ledger Ltd reserves the right to either increase the total number of HEAT tokens released, or the proportion of ICO credits relative to HEAT tokens in case there are more than 25M credits reserved during ICO.



ESCROWS AND TRADING

HEAT credits can be reserved from the following sites:

HEAT Ledger web site
Openledger operated by CCEDK (also allows trading of stakes during ICO)
C-CEX exchange
Fitcoin Exchange assets in the FIMK blockchain

THE CROWDFUNDING CRAZE

While HEAT uses crowdfunding services from partners and arranges one on its own during the ICO, significant emphasis will be put on facilitating crowdfunding for large and small companies through the HEAT Ledger blockchain itself. With HEAT, every businessman and his mother will be able to have their own blockchain application to crowdfund projects!

HEAT Ledger Ltd assists companies and projects to obtain crowdfunding via the decentralized open source HEAT Ledger through consultation and partnership. We aim to have at least 2 to 3 external companies to accompany the launch of HEAT Ledger Proper through their own funding proposal (IPO, other crowdfunding investment) on the HEAT Asset Exchange custom crowdfunding UI - accessible from the HEAT wallet.

IPO STOCK OPTIONS FOR HEAT TOKENS

Heat Ledger Ltd will arrange Initial Public Offering of stock equity in late 2016. 50 000 - 80 000 new company shares will be released to constitute 20% - 25% of total company equity, in order to raise between 500k to 1.5M EUR funding to further develop company operations. HEAT token holders who participate in round 1 ICO and hold their tokens will receive options that entitle for 50% minimum rebate from IPO share price.

CALL TO ACTION FOR DEVELOPERS AND MARKETERS

HEAT Ledger is an ambitious business project initiated by a small, experienced and skilled team of professionals hardened in a rough set of challenges previously. Our goal is to provide not only prosperity for the HEAT founders and investors, but also long-lasting value for the society by leveraging our innovations and know-how to further the evolution of financial technology towards more effective modes of operation.

We invite enthusiastic people to join the HEAT startup team. With time we'll need online marketers, sales specialists, local ambassadors, skilled java programmers and especially front-end coders. Please contact us to let us hear about your skills that the world could make good use of through your participation in HEAT.

Soon... The HEAT is ON!


July 11, 2016, 09:55:11 pm
Reply #2

JianJolly

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It is nice to see that there are different approaches in the direction Waves goes. Though, a self-ascribed "3rd gen" tag looks a bit suspicious and even offensive, given that there seems to be no leap in the proposed technology. Earlier, Svante called the project FIMK a 2.5 generation cryptocurrency (link), which is referred to as "2nd generation" in today's Forbes article (link). I cannot stop myself imagining that we will see them reducing the generation of HEAT to 2.5 when advertising their next project. All in all, such over-hasty labeling of the ideas may most optimistically be interpreted as bad presentation.

Moreover, in the abovementioned Forbes article where HEAT and Waves are both introduced, it is reported that Svante says "nearly everything that WAVES claims it will do in the future has long been possible with FIMK." Upon reading that, I tried to find the BTC/USD price chart in their supposed dEx. Trading BTC against USD will be one of the most basic features Waves platform allows, and there will surely be a chart of the market history. I only checked that, and did not look into reputation system, centralized matching algo and other advanced features, because he is reported to say "nearly everything," so I expected to see at least this basic feature. The result is not only that I couldn't see a clue of a BTC-against-USD trade executed, but also that it seems their web wallet Lompsa adds nothing significant to the existing Nxt wallet.

They may call their product a 5th or 6th generation cryptocurrency and get it pressed on Forbes, but they couldn't get more than an over-hyped flash in the pan without the concrete development to back that claim.

I have to add at this point that I am not really familiar with the platform in question and neither with its community, so I hope that someone will show me the BTC/USD trades made on FIMK and get their image right.

Best,

Jian
Disregard everything I say.

July 12, 2016, 03:18:38 am
Reply #3

HEAT.Svante

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Hey guys. The moment I read the Forbes article I knew it's not going to land nicely on all. The statements presented were out of proportion and not intended to be published as such. I had asked for adjustments, despite this our marketing partner and the article authors failed to put these to effect; instead they assembled and published a hastily put out version that's partially incoherent. Getting on Forbes is nice, but containing rather aggressive quotations lashing back on the scene is something we and everyone concerned would have been better without.

What comes to terming HEAT as 3G crypto, our tech indeed contains massive leaps warranting that. We've done away with any embedded db in blockchain, using memory mapped binary writes and achieving transaction throughput of 1000 to 100 000x Bitcoin's lousy 7 tps or its multiples. This is a conservative estimation, as our inhouse tests have yielded speeds of several million tps on atomic writes.

OTOH we'll offer semi-centralized legacy db replication interface to that extremely fast core, which is a new frame of reference for p2p cryptocurrencies. Node operators such as trading providers can run their HEAT server together with MySQL for instance, achieving all the flexibility and web frontend usability of traditional inhouse cluster while automatically syncing that with the p2p blockchain in real time.

Another unique feature of the HEAT server is the slicing of blockchain to numerous smaller files whose hosting can be distributed, and offering block rewards based on hosting the block files.

When we count in all the 2G crypto features, with many major enhancements such as offering a distributed Java engine (in addition to Javascript) and multi-sig custom tokens etc. all described in the opening post, we think we have a sound basis for promoting HEAT as 3rd generation cryptocurrency.

Quote
I cannot stop myself imagining that we will see them reducing the generation of HEAT to 2.5 when advertising their next project.
Next project, well that image doesn't quite home in on me. FIMK was not downgraded - its features had rightfully earned the 2.5G tag (if tongue in cheek, mocking the 3.5G-4G-5G wireless tech craze as insider joke). What actually made the "half a G" in 2014 were its unique implementations of static block reward on PoS consensus, and especially the monthly basic crypto income based on and combined with the strong electronic, encrypted ID stored in the FIMK blockchain. The ID feature still has yet to see a matching implementation worldwide, even when its marketing hasn't taken off as planned.

Quote
I tried to find the BTC/USD price chart in their supposed dEx
Actually we did have such custom currency asset chart up for a few months while doing private presentation gigs for banks in Southern Europe. However, I was quoted "has long been possible with FIMK" and that is true.

The FIMK platform since January offers Colored accounts with Private Assets - a combination that lets you issue and trade any asset pair such as USD/BTC, EUR/GBP. It's readily available on the FIMK web wallet's asset exchange at https://lompsa.com/#/activity/fim/assets/latest and you can try it there if you like. Marketing of the FIMK asset exchange, again, has failed, so there currently do not exist Private assets that are listed on the FIMK blockchain. We do have some running right now on our undisclosed partnership projects. Marketing business solutions through a nonprofit organization is a no-go proposition which we realized only after working a couple of years on it. That's why we now have HEAT.

Quote
over-hyped flash in the pan without the concrete development to back that claim
Hyping is not our core competence. Delivering tech is, which I look forward to proving with HEAT once again.

Quote
Trading BTC against USD will be one of the most basic features Waves platform allows
Actually the tech to achieve that isn't that hard. The other things are, such as the gateway integrations and appropriate licensing that's nowadays required for any kind of e-money operations anywhere.

Like you stated JianJolly, it's great to have several forward going projects / communities such as Waves and HEAT working towards aspirations of similar sort in the fintech area. It's natural to be proud of one's own work and display it in the best light possible. I think we should be careful to act in manner to not cause dissent or confusion between the different operators. Unfortunately, sometimes PR or other external factors spin slightly out of control - no offense intended, that's how the ball bounces.

Warm regards,
Svante Lehtinen, CEO
Heat Ledger Ltd

July 12, 2016, 09:11:46 am
Reply #4

JianJolly

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Dear Svante,

Thank you for taking your time to give an answer to the concerns I raised above. About the new implementations' elevating a cryptocurrency to one higher generation (or half), I think it would be best to have an independent specialist reaction against the developments made, rather than self-professing the generation number. But even if we accept all your comments regarding how improved the technology in question is, your claim of FIMK supporting nearly everything Waves will support remains unjustified. The link you gave shows some assets created on FIMK, but I still see no clue of their being traded against each other. And I have to note here that allowing asset-to-asset exchange transactions is far more than "nearly everything" Waves will offer. Technologywise, it is actually one of the most basic features of Waves, and it makes the entire picture look even more suspicious given that it is that hard to show that FIMK actually supports that basic feature.

All in all, having supported "nearly everything that WAVES claims it will do in the future" for a long time is a huge claim, so much so that showing an asset list to support the claim makes it look shadier, let alone being convincing.

Best,

Jian
« Last Edit: July 12, 2016, 09:45:07 am by JianJolly »
Disregard everything I say.

January 17, 2017, 11:24:45 pm
Reply #5

proto

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Just here to open up discussion about HEAT, a generation 3.0 cryptocurrency. It features innovation never seen before all together in one package.

Scalability: 1000 transactions per second to 100 000 TPS

Direct Crypto Trading - An Asset to Asset Exchange, with cryptocurreny gateway support, for decentralized p2p cryptocurrency trading.

Hybrid Block Rewards - Proof of Stake and Proof of Persistence (which involves saving files on the HD)

Distributed Services - HEAT's version of Dapps, which can be npm packages and written in Java/Javascript.

Offline Smart Vouchers - Fully signed transactions that can be sent to the blockchain by anyone.

...and much more :)

Check out the OP on bitcointalk: https://bitcointalk.org/index.php?topic=1543991.0 Company Website: http://heatledger.com

January 18, 2017, 01:57:21 pm
Reply #6

proto

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Quote
In preparations for HEAT launch, Alcurex adjusted the 1.50x HEAT token multiplier yesterday Jan 17th.
 
Openledger 1.50x adjustment is imminent at 14.00 CET today. Buy one HEAT now, have 1.5 HEAT in 2 hours
 
https://bitshares.openledger.info/?#/market/OPEN.HEAT_OPEN.BTC
 
C-CEX adjustment is still pending until further info.

1.5x multiplier is being added to the pre-trading exchanges. This was due to not all coins being bought in ICO, so all holders got the rest distributed.

January 27, 2017, 01:22:16 am
Reply #7

proto

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HEAT has officially launched main network! https://heatwallet.com is the webwallet.
Server for forging very soon is here: https://github.com/Heat-Ledger-Ltd/heatledger/releases

Blocks are stabilizing, More updates will come :)

January 28, 2017, 01:15:03 pm
Reply #8

proto

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A new client + server release with simpler forging settings and a2a markets (escrow ops possible) coming soon.
https://bitcointalk.org/index.php?topic=1543991.msg17650403#msg17650403

January 29, 2017, 02:26:14 pm
Reply #9

proto

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April 05, 2017, 09:45:13 pm
Reply #10

proto

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HEAT selected to do a pilot project with ABN AMRO bank ;)
https://bitcointalk.org/index.php?topic=1543991.msg18468579#msg18468579
 
Forging coming back online in a couple days, and asset exchange has vast majority volume ;)

April 09, 2017, 03:53:41 pm
Reply #11

proto

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Detailed technical and conceptual update:

https://bitcointalk.org/index.php?topic=1543991.msg18500671#msg18500671

Notably, it includes the planned HEAT Microservices to be quickly in the pipeline. This will allow anyone to implement BaaS on the blockchain.
Also:

- Completion of the possibly highly lucrative bank co-op project
- Streamlined general corporate solution deployment model, and
- Considerable feature enhancement for the public HEAT blockchain

April 20, 2017, 07:14:26 pm
Reply #12

proto

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Forging rewards are now active on the HEAT blockchain.
A guide to forge using a VPS is here:
http://heatnodes.org/heatnodes.pdf

Profit calculator can be seen at:
heatpool.xyz
 
Basic Forging report is here:
https://heatbrowser.com/report.html

:D

April 30, 2017, 01:09:11 pm
Reply #13

proto

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Forging income data from heatnodes.org:

Top Forgers + Monthly returns + Graph of all forging nodes versus all balances not forging.

http://heatnodes.org/?page_id=187

As well a special account monitoring setup also from heatnodes.org which allows an email system for notifications on a forging node's activity and status.

http://heatnodes.org/?p=185

May 06, 2017, 02:27:48 pm
Reply #14

proto

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Coming quickly to completion is the HEAT Dev Kit.

https://github.com/Heat-Ledger-Ltd/heat-dev-kit/blob/master/src/microservice/gateway/service.ts is a working ASSET to BITCOIN gateway microservice in just 22 lines of TypeScript (lots of comments for explanations).
 
So far completed:
 
1. Automatic Java class to TypeScript generation (strong typing for all heat java classes and most java standard lib classes)
2. Java Nashorn sourcemap support built-in to heat server
3. Visual Studio Code test run integration (run your microservice from within vscode, includes clickable stacktraces on Nashorn errors)
4. Heat command line interface for running microservice (tests)
5. Microservice client framework
6. Gulp build pipeline which does your typescript compilation, sourcemap generation and runs heat server to execute tests

 


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