The Community Speaks segment is written by select members of cryptocurrency coin or token project communities who want to update the Altcoin Buzz Army about news surrounding the project they represent. The goal of the Community Speaks Segment is to bring these community members in to introduce the Altcoin Buzz Army to their opinions surrounding their respective projects and keep them updated on its progress. Any ideas or opinions expressed here do not necessarily align with those of the Altcoin Buzz core team.
High-Performance Blockchain – Gaming Adoption and Token Economics
Shortly after I published the AltcoinBuzz community speaks introduction for High-Performance Blockchain, the team announced a very exciting partnership with LAYA.ONE, a new blockchain venture by LAYA BOX. With over 400,000 developers, LAYA BOX is the world’s largest HTML5 gaming engine. The HTML5 giant has strategic partnerships with companies such as Facebook, Google, Alibaba, Tencent, Huawei, and Baidu just to name a few. According to the Laya.One white paper, Laya Box is responsible for 70% of all HTML gaming engines in China.
Laya Box Partners
LAYA.ONE plans to innovate and improve the performance, economic model, and industrial model of the blockchain gaming network. They plan to utilize HPB and their BOE hardware accelerator to strengthen and improve digital signatures.
“In blockchain game systems, the digital signature is to ensure and identify each player’s identity, and relevant assets. The current system uses the CPU of the system server to execute signature verifications. With HPB, the game can offload the work onto the BOE, significantly improving verification speeds and thus network performance.” – HPB Press Release
Many in the community were very excited to hear this news. HPB has long been known for their close ties and partnership with Union Pay, but in the last few months, more information has started to come forward regarding their plans to target the large gaming industry. Hash Future, Oasis DApps, and weFun are all gaming companies that plan to utilize HPB’s technology and blockchain in some shape or form.
One of the most important topics for any blockchain speculator to understand about a project is token economics. Questions such as: why is the HPB token necessary? What economic factors could cause an appreciation of the token value? Why would a prospective client choose a new project like High Performance Blockchain over a more mature and well know platform like Ethereum?
Danny Rowshandel, the Managing Director of International Business for HPB, took the liberty to do a question and answer segment with the community on this exact topic. The Q&A took place in a telegram channel called “HPB Token Economics” where a handful of core community members asked specific questions about the token structure outlined in the white paper. These questions were then gathered and thoroughly answered by Danny in an official update by the team.
Please take some time to read all of the questions and answers covered in this official HPB Token Model released by the team, but here are some notes.
- Developers will need HPB coins to issue smart contracts.
- Users will need HPB coins as the gas for transactions.
- New partners, developers, and users will need to hold HPB coins to utilize and create side chains as well as their “Blockchain-as-a-Service” offering.
- Unlike ETH, the consensus algorithm of HPB is not based on proof of work but rather proof of performance. (More on this below).
One question asked that I would like to specifically focus on is “How exactly will the HPB model be similar to ETH and in what way will it be different?”
“Although our gas structure is similar (albeit a quite a bit cheaper), our fundamental mechanisms differ. Our consensus algorithm, block rewards, etc. are all built ground-up and tailored to our vision for the future of HPB, and the blockchain community. What similarities there may be is only due to it being the most suitable for that specific role – we did not feel the need to reinvent the wheel. The gas structure just so happened to be the best solution to several potential issues in the network (see Question 10), and was decided as the best course to take. Unlike ETH however, our consensus algorithm is not based on a Proof of Work. Ours is a dynamic governance system, called Proof of Performance (PoP) that takes performance indicators into account as part of the consensus. Furthermore, it continuously takes multiple factors into account such as network speed, staking of coins, and server latency.” – Danny Rowshandel HPB (Question # 8 HPB Token Model)
The community was pretty thrilled with this answer. The blockchain world has witnessed a number of projects struggle with congestion issues that happen when malicious actors are not held accountable. HPB has undergone years of research to help ensure that they can adapt to problems that would prevent high performance on the blockchain without entirely reinventing the wheel.
I hope to update the community on the collaboration that Union Pay has been doing with HPB within the next few months. According to the white paper, we should hear more about this development sometime between now and the end of the year.
RumHam – Twitter
This article was brought to you by a member of our Community Speaks team. The Community Speaks team is made up of members of different project communities who want to make their voice heard in the Altcoin Buzz community. If you are interested in becoming part of our Community Speaks team please contact @Garrett59 on telegram.