"Taxa" uses reliable hardware to build a Coating 2 off-chain system to resolve blockchain efficiency and privacy discomfort points

 "The system transaction volume per 2nd (TPS) gets to one million periods, and the blockchain can be implemented? However, it is not." stated TF Guo, the co-founder of Taxa. Taxa is really a blockchain project focused on the Coating 2 off-chain system that the earth Daily recently arrived to contact with.

 At present, in addition to low scalability, general public chains may also be facing several issues: the efficiency of smart contracts itself is poor, and they cannot handle complicated reasoning execution and high-throughput data; privacy protection is poor, and consumer data and program code can be Anyone can look at anytime.

These few issues of the general public chain may also be the pain factors of DApps (decentralized applications) operating on the general public chain. Also, they are very important for a few vertical scenarios that require performance and personal privacy (such as for example big data, credit score, wellness, etc.). The reason why it is difficult to implement applications on the existing public chain structures.

In reaction to these issues, Taxa's solution would be to establish a common "logical coating" between various underlying stores and DApps, separating the execution of wise contracts from your consensus mechanism of the general public chain. Like a Layer 2 system, Taxa implements high-performance, privacy-protecting, and extremely programmable smart contracts.


Taxa's "reasoning layer" creates a completely isolated off-chain execution environment through trusted hardware, responsible for the execution of contracts; because the "consensus layer", the general public chain is responsible for the conversion of contract-related says and token obligations. The "logic coating" anchors the immutable and non-deletable state (Immutable, Persistence Claims) over the "consensus coating" string through the proper execution of the "Off-Chain State Channel".


Financial technology, digital marketing, artificial intelligence along with other "data-heavy" industries have to complete the utilization and realization of data assets without data loss. For instance, two credit reporting companies each possess a blacklist, however the two companies want to get the data of the intersection of the two blacklists, however they don't want another party to start to see the data outside the intersection.

At this time, they want a "trusted third party." If the blockchain is used to resolve this demand, it really is currently impossible, because if millions of data are put on Ethereum, not merely will everyone have the ability to see it, however the company will also need to spend a lot of mining fees. Nevertheless, if the two credit reporting companies can deploy a good contract over the Taxa network, the two parties input personal data into the Taxa network through an encrypted connection, each node will carry out matching operations in an isolated environment, and lastly only return the determined intersection data To the client. This not merely ensures that the client gets the intersection data, but additionally ensures that the data outside the intersection will not be seen by another party.

Regarding the primary conditions that Taxa solves, TF Guo summarized, which includes compatibility, high performance, privacy protection, reliability and development flexibility.


* Compatibility: The reason behind positioning in Coating 2 instead of becoming another underlying public string, TF Guo stated, Taxa's starting place is usually to be a common and easy-to-use specialized infrastructure that can be used by all general public stores and decentralized systems .


* Reliability: The overall "logic coating" founded by Taxa uses trusted hardware because the underlying hardware to establish a trusted execution environment (TEE) decentralized system, and introduces an area consensus algorithm derived from PBFT , To guarantee the high performance, personal privacy, reliability and verifiability of wise contracts executed beneath the Taxa chain.

With this off-chain system, each Taxa node types a trusted execution environment alone. Regarding the totally isolated execution environment, TF Guo made an analogy: Assume a node is the same as a house, and the chip is the same as the safe in the house, but the owner of the house does not have the main element and cannot read or modify the data in the secure. That's, the node will not understand and cannot tamper with the content of the data it is processing, thereby ensuring the personal privacy and integrity of data storage.


* Powerful: TF Guo stated that Taxa's experiments show that compared to other blockchain personal privacy solutions such as for example "secure multi-party computing", the TEE option based on trusted hardware provides lower computational overhead and higher amount of free programming.


* Privacy protection: During data transmission, trusted hardware uses secure I/O channels to input and output data, allowing customers to directly create communication with all the trusted execution environment, bypassing nodes, and stopping nodes and third parties from getting private data .


* Development flexibility: transplant the interpreter environment to TEE to make a safe and friendly programming environment.

Regarding the particular applicable scenarios of Taxa, TF Guo stated that decentralized applications such as financial technology, big data, precision marketing, synthetic intelligence, exchanges, wallets, identification, health, etc., that have basic needs for efficiency and privacy, can be handed Taxa to deploy growth.

The decentralized underlying style of Taxa, the off-chain system, establishes that its growth will largely rely on computing power companies (miners). With regards to Token mechanism, Taxa Token will be used to inspire and manage computing power providers, that's, the miners of the Taxa network.

Taxa's test system is likely to go surfing in Q3-Q4 this season, and the official network is likely to go surfing in Q2 2019. TF Guo believes that long term DApps will show a more obvious layered architecture, and much more "Coating 2 architectures" will make up for the missing functions and efficiency of the general public chain at the beginning of the design. Regarding Taxa's growth program, TF Guo stated that he expectations that Taxa can interact with public chains along with other Coating 2 architectures, which includes decentralized storage space (such as for example IPFS), blockchain oracles (such as for example ChainLink), and inter-chain intermediaries (such as for example Polkadots) among others jointly create the entry and bridge necessary for DApp development.


Taxa's early expenditure institutions include: Amino Funds, Fengrui Funds, Bertelsmann Asia Expense Fund, Liquid2 Endeavors, Guo Wei, and FBG Funds, Nirvana Funds, LinkVC, GBIC, which concentrate on digital currency expenditure . Among them, Feng Rui Capital's creator, Feng Li, officially became a member of the Advisory Panel of the Taxa team.


The Taxa team currently has almost 10 individuals and two co-founders. Co-founder TF Guo, is a white head wear hacker since the age of 16, and acquired a master's diploma in computer technology from GWU, specializing in protection and cryptography. He grew to become an early on evangelist of blockchain in 2014 and offered as a specialized consultant for FBG Funds and Amino Funds. Participated within the founding of SHINECT, a popular entrepreneurial local community in Silicon Valley. Another co-founder, Esther Hu, includes a double master's diploma in statistics and financial mathematics from Stanford University or college, specializing in mathematical modeling. He's got led and executed automated investing and risk building at Thomson Reuters, Stanford University or college and Peking University or college. Multiple cross-industry and cross-disciplinary studies such as design, derivative financial devices, psychology, wellness economics, etc. The associates come from Palo Alto Networks, VMWare, Facebook, UC Berkeley along with other companies and institutions.


I'm Qi Ming of Blockchain Every day. I am discovering the true blockchain. Please include WeChat qingmoruoshui for task exchanges and splitting news. Please be aware your name, business, and place. Reprinting/content assistance/reporting contact document@odaily.com; reprinting in violation of regulations must be looked into by law.


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