Hydrachain Dapp: An Extension of the Ethereum Platform
Smart contracts and replicated shared ledgers (such as the blockchain) are considered the newest ground-breaking technologies with the potential to save costs, accelerate business processes, and to create new innovative products.
Compared to public ledgers, which are free of any authority, companies have different requirements regarding privacy, finality, and accountability.
The HydraChain Dapp, a joint development effort of Brainbot technologies (a smart contract and blockchain consulting company) and the Ethereum project, is an open source Dapp. It was created for companies seeking to use the Ethereum blockchain to excel their business.
Hydrachain is an extension of the Ethereum platform, which also supports the creation of scalable blockchain-based applications that comply with organizational and regulatory requirements.
In order to coordinate transactions, HydraChain leverages a byzantine fault-tolerant consensus protocol which does not depend on proof-of-work. Instead, it relies on a registered and accountable set of validators which propose and validate the order of transactions.
HydraChain supports sharding. Nodes can manage multiple linked chains in the same process. Unlimited asset transfer capacity is provided by a framework for trust free off-chain transactions.
New blocks are negotiated by the validators. A quorum by the validators which signs the block is required before it is added to the chain. Thus there will be no forks or reverts. Once a block is committed, the state is final.
The protocol allows for sub-second block times.
Share ledgers usually come with shared knowledge about transactions and positions. HydraChain supports configurations where bilateral transactions and updated balances can be kept private.
Proof of Identity (KYC/AML)
Add-On to ensure that all transactions in the system are between registered participants only. It's designed to offer audibility while preserving as much privacy as possible.
Add-On to optionally develop smart contracts in the Python high-level language, which are natively executed. Benefits are significantly faster execution speed, reduced development times and better debugging capabilities. Native Contracts are inter-operable with Ethereum Virtual Machine based contracts written in the Solidity or Serpent languages and can co-exist on the same chain.