Bringing Cross-chain technology to the masses.

kimutai (37)in #blockchain • 6 years ago (edited)

The smartest entrepreneurial minds know that the best businesses were built out of an insatiable need to solve a problem many people have. InterValue is out to solve a problem many blockchain technologies have been unable to fix. InterValue’s main goal is to build their platform to be an infrastructure of blockchain 4.0 and ultimately developing it to host specific applications based entirely off the same blockchain 4.0

It hasn't been a decade ever since blockchain was introduced to the world, but it has already turned into a huge phenomenon. Blockchain has many definitions but lets use a simpler version - blockchain can be defined as a digital ledger whereby transactions made in cryptocurrencies are recorded chronologically for the public eye. With all its data being held on a connected network of computers, all managed and administered by their users themselves.
It is true Blockchain is a revolutionary technology with many upsides and useful real-life applications but even though it has a long list of benefits it does have its fair number of downsides, InterValue’s value proposition is to hopefully strengthen all the upsides blockchain has trying to eliminate all its downsides. For instance, some of its benefits include:

Transparency - Because all the technology is open source it's impossible to alter any of the data that has already been logged and even if you're able to, others users within the platform would be notified of your activities.
Lower transaction costs - InterValue allows for peer to peer transactions to be completed without the need for an intermediary hence there is no need to pay any middleman costs.
Decentralization - Another advantage is since there is no central data hub, InterValue enables individual transactions to be carried out seamlessly without having to verify transactions through a hub or ever needing to run a massive data center.

Pretty good so far right? Okay, let's explore what's wrong with blockchain and how InterValue will do its part to make it better.

Problem 1: Subpar Performance.

Performance is one of biggest problems facing current Blockchain innovation. Most blockchain technologies aren’t able to handle the demands from commercial applications. Capacity is limited, and the speed of transactions is too slow. Bitcoin for example can only handle 7 transactions per second, Ethereum can only take on 30. Considering these two technologies are some of the biggest most popular ones in the world. This restricts the adoption of blockchain technology as interoperability between projects is just too hard to implement.
InterValue implements a proprietary method developed on an improved hashnet while also adopting a unique two-layer consensus mechanism that not only forms a cryptographic algorithm with anti-quantum properties but goes deeper to create a better more successful application ecosystem.
InterValue also uses the ever present inter-connections between independent projects to maintain the highest performance standards. This is a different approach especially considering most existing blockchain projects function on an isolated value network.

Present B2B and B2C applications must have the capacity to simultaneously deal with many millions of daily client requests without faltering. Being able to handle over 1,000,000 transactions in a single second – only goes to show how equipped InterValue is for the task.

Problem 2: It's not cheap to settle on the blockchain.

On any public blockchain, space in a block is a limited asset. Essentially as the system is increasingly used the measure of exchanges that will need to settle in a block often surpasses the capacity limit.
Public blockchain systems have an answer worked in for this which is that exchanges with a higher miner fee connected will demand priority to be incorporated into a block. This bodes well on the grounds that the miners want to maximize their overall profit margins so that they can include transactions with the highest fees first. This limits developers who need the flexibility to develop valuable free services which in turn limits the widespread adoption of blockchain as compared to their non-blockchain counterparts.
Intervalue's vision of building a global internet of value is why they're out to challenge the status quo. By building an easy to use, scalable, directed Acyclic graph enhanced, high performance, and simple to use platform, InterValue hopes to provide a foundation network just for blockchain that supports a wide range of applications (digital currencies, smart contracts to more complex ones powered for healthcare, education internet of things etc) for public, permissioned and private blockchains.

Problem 3: Customer protection isn't big on the blockchain.

Blockchain technology works as a push-based settlement framework. This implies the individual holds control over the asset they need to confirm on the blockchain. This could be cryptocurrency, declaration validation, arrive titles, and so forth. The issue with this is if an exchange turns sour after it has just been confirmed on the blockchain, the main plausible method for restoring the exchange is if the gatherings consent to switch it. Utilizing a brought together framework like a bank. Be that as it may, there is a technique set up to have the capacity to debate exchanges after they are finished.
Did you know - Initially the bitcoin blockchain had no block size limit; it was eventually set to 1MB to evade a Sybil Attack on the network.
On the other hand, InterValue encrypts information inside an application layer to ensure all security standards are upheld. Here's how it works: the vehicle between each relay node is encrypted using a point-to-point key. The encryption then hides all user’s packet between each pair of communication nodes, to guarantee communication safety between the relay nodes.
Each InterValue relay node maintains a long-term key and a short-term key, both with specific and crucial functions. The short-term key is used to interpret the request sent in by the user, and then afterward establish a connection while negotiating a temporary key. The long-term key, on the other hand, verifies the key to sign a TLS certificate, signs the relay node descriptor, and signs the directory used by a directory server. In addition to protecting user information, InterValue's TLS protocol also periodically uses short-term keys between the communicating relay nodes to change the impact of key leakage.
InterValue also utilizes an Underlying P2P network for added encryption, it combines Tor-based anonymity and a blockchain based distributed VPN to create an incognito P2P overlay network that creates anonymity between nodes in the network to ensure it’s close to impossible to trace back node addresses and crack communication protocol.
Real world usage - The P2P network can also be used to develop a distributed social network, imagine twitter for blockchain with the only real difference being all the data is logged onto a decentralized ledger with users only requiring a pair of asymmetric keys to access their profile.

Problem 4: Blockchain is difficult to use.

Another barrier preventing the adoption of blockchain technology is its complexity. To fully understand the principles of blockchain, from encryption, address keys, hashkeys or ledgering etc. It takes a lot of effort. Unfortunately, this complexity aspect, means common users are locked out of participating in blockchain as only the computer genius can understand it.
The average joe doesn't understand the difference between what's happening now with centralized models and the benefits of implementing a decentralized model. For example, while the Ethereum-based game CryptoKitties is touted to be simplest, most user-friendly decentralized App ever built, it still requires quite a learning curve as users must install the Metamask light wallet browser extension and then buy ethers for use on the Metamask.
InterValue is doing its part to make working with blockchain as simple as possible. Their unique cross chain technology adopts a full-node adapter multi-chain merging technique to connect different blockchains and trigger transactions on the external subnet for easier network connections.
But InterValue isn't just a self-contained blockchain network, working with an experienced team and amazing developers, the platform also supports cross-chain communication functions such as cross-chain asset exchange and cross-chain portability to:

Seamlessly allow the conversion of different cryptocurrencies, for example, converting bitcoin to Ethereum.
Enable simple transfers between user accounts using a cross-chain oracle that uses nodes to convert the currency to be transferred. For example bitcoin, into corresponding INVE (InterValue's tokens) and then sending a merging node on the Ethereum chain once verification is complete and converting the INVE into the currency the user wants transferred, in this case Ethereum.

Even though InterValue, has employed some of the best security engineers to work on INVE's source code, nobody can guarantee a bug-free or invulnerable system so InterValue will cooperate with the INVE community to quash any vulnerabilities that may arise.

The company will be launching soon and you can bet it will be a gamechanger. Don't be left behind... It's time to join the movement.

Here are some links with important information you can use to learn more about InterValue.
Website
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Twitter
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Whitepaper
Academic paper
Promotional Video
Media Coverage