Without a native cryptocurrency, you can build an enterprise blockchain network (public or permissioned) that utilizes fiat-pegged tokens issued by trusted entities to be used to pay for blockchain transaction fees. With InfraBlockchain’s patented Proof-of-Transaction consensus mechanism, public sectors and/or enterprises can join the blockchain network and flexibly form their ideal governance, and operate a high-performance permissioned / public blockchain smart contract platform.
InfraBlockchain provides the most ideal blockchain technology for the public sectors / enterprises to adopt.
INFRABLOCKCHAIN CONSENSUS / GOVERNANCE
Proof-of-Transaction (PoT) Consensus Mechanism and Governance
* Transaction-as-a-Vote (TaaV) - InfraBlockchain permits each blockchain transaction to vote for a block producer candidate, and each vote will be weighted accordingly with the respective transaction fee amount. For example, if a transaction performed on the voting service paid 5 cents as its transaction fee, then its block producer candidate (voting service provider) earns 5 points-worth of weighted votes. The recipient of each transaction’s vote is designed to be automatically chosen by the Dapp service provider, so that the user would not need to designate the candidate every time.
* Proof-of-Transaction - A service provider that generates a large amount of blockchain transactions can designate itself (or other partnered node) to become a block producer using the TaaV mechanism. Transaction votes are measured in real time, and the top nodes that receive the most votes get to become the block producers. These block producers can participate in the blockchain governance, and earn the fiat-pegged transaction fees as rewards.
The above image shows an example of a public/permissioned hybrid InfraBlockchain node architecture, featuring the pre-designated trusted entities (governments, institutions) and the elected block producers (service providers) using the Proof-of-Transaction mechanism. A blockchain network that depends on the trusted entities can select more number of trust nodes in the block producer group to increase the network’s stability and credibility. By adjusting the composition of the block producer group, InfraBlockchain can flexibly form private, consortium, PoT-based public, or any level of hybrid blockchain network.
Blockchain Technology Comparison Table
InfraBlockchain vs Private and Public Blockchain
For Government, Business and Foundations
If you have any questions or feedback, please contact our InfraBlockchain team via email