1) What is the Helios Protocol?
An infinitely scalable cryptocurrency and smart contract platform based on DAG + blockchains. The Helios platform is designed from the ground up to be future proof and secure with, high speed, low fees, and fully enabled truly decentralized democratic applications. All aspects of internet use require applications and contracts, many stand to benefit from the security and decentralization that distributed ledger technology can offer. Helios Protocol is the first platform designed from the ground up to fulfil this need by providing low fees, infinite scalability, and a transaction throughput into the 10s of thousands
- A. Creation
The idea to create Helios protocol was born in 2017. The project has been designed to solve problems of scalability, fees and transaction speeds in the network. It will allow developers to create dApps that will respond in a few seconds, which will ensure fast and convenient work with dApps.
- B. Erc-20
The HLS ERC-20 token was created on May-12-2018 on the Ethereum network to allow people to participate in the Helios community while the mainnet is developing.
- C. Mainnet
Mainnet launched on 30th June 2019 without any problems.
- D. Development progress
Beginning with a revised version of Ethereum, the GitHub of Helios Protocol has 10 repositories with a total of 2916 commits as of 17/09/2019, with the lead dev averaging a new commit every other day since work began. Smart contracts are due for release in Q4/19
3) Specs sheet
- A. Total Supply: There will be a total of 350,000,000 tokens at launch. There is no
maximum supply. The premine is divided as follows for distribution:
Exchange listings 30,000,000 (8.5%) Bounties 110,000,000 (31.5%) Airdrops 50,000,000 (15%) Helios Team Budget 90,000,000 (25%) DAPP Incubator 70,000,000 (20%)
- B. Circulating Supply: 10M Approx. as of 17/09/19
- C. Inflation: Dynamic inflation
- D. Tx size: 200 bytes Approx.
- E. Speed: somewhere in the 1,000 – 10,000/sec range, scales with network size, max at
over 50k/sec with average hardware
- F. Scalability: Infinite, nodes add power to the network.
- G. Consensus: MagPoS
- H. Languages: C++, Python, Solidity
- A. Instant Transactions
By utilizing parallel blockchains, there is no waiting on confirmations or hoping the fees you get charged aren’t outrageous. Your transactions are received as soon as they are sent. One of the best innovations is a stripped down and rebuilt msgpack with the same specifications as Ethereum RLP, combined with an overhauled backend in Cython to allow for lightning fast decoding and encoding of binary data that can scale at the same rate of advancement as technology.
- B. Infinite scalability
Since every node adds to the capabilities of the network, and parallel chains allow instant transactions, the network is inherently going to scale the more it is used. This prevents any possible bottlenecking or delayed transactions such as the Cryptokitties incident in late 2017 on the Ethereum network.
- C. Dapp compatibility
Helios Protocol uses Solidity as it’s smart contract language. This allows any dApp or smart contract currently existing to migrate to the Helios Protocol platform seamlessly. This also allows the growth of Helios Protocol as Solidity is easily the fastest growing contract language today.
- D. Smart contracts
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.
- E. Low fees
Because Helios Protocol uses very little energy and there is no competing for the next block, fees on this network are magnitudes lower than traditional blockchain.
- F. Dynamic inflation
The inflation rate of the HLS supply is dynamic due to the many protocol aspects that affect it. Type1 and Type2 staking rewards will slowly introduce new coins to the supply. The slashing protocol and transaction fees will burn tokens, thus deducting from the total supply. While slashing is only used to prevent malicious behavior, therefore rarely if ever coming into play, transaction fees will be a daily part of life in the Helios Protocol network. As more transactions occur with growth, more fees will be deducted from the network. This offsets the inflation from staking rewards and, theoretically, the right amount of usage would reduce the total supply. Of course, the exact parameters of the dynamic inflation rate will depend on many variables produced by live network status.
- A. MagPoS (Magnetic Proof of Stake)
Built completely from scratch to mirror nature’s own consensus method of magnetism, MagPoS brings a level of security and scalability unlike anything else in the entire cryptoverse. In nature, a magnetic field is oriented in a single direction, composed of dipoles, each reacting to other dipoles closest to it to all point in a unified direction, ie consensus. MagPoS+DAG has turned the Helios Protocol network into a magnetic field and utilizes nodes as dipoles. Each node only talks to those closest to it, but every node talks to a unique set, all interlaced and constantly re-aligning with each other to maintain consensus within a state of flux. Any disruptions in the field (malicious behaviour) is easily identified and corrected. This field only becomes stronger and faster as more nodes are added over time, once again turning a scaling problem into a solution.
- B. DAG
A DAG (directed acyclic graph) is a topology ordering of data. It allows multiple blockchains to communicate and operate independently at the same time. It finds the most secure and most direct routes for data transfer and communication within the network. DAG allows multiple chains to simultaneously create and broadcast their own blocks. Every chain adds to the power of the network without causing scaling issues. DAG is what allows the network to scale infinitely, by organizing each node most efficiently for Sharding.
- C. Parallel blockchains
Helios Protocol utilizes parallel blockchains throughout the entire network. The benefits of parallel chains are quite numerous. Every wallet and node will have its own blockchain with users receiving full control. Your personal blockchain only adds and receives blocks precisely when you decide. Each wallet only stores its own relevant information, which allows for instant transactions and an exponential solution to scalability issues. Every node will compound the power of the network, yielding near-infinite scalability in transaction volume and speed, as well as maintaining technological compatibility in an ever-growing industry.
- D. Slashing
With any cryptocurrency protocol, users will have an economic incentive not to break the protocol rules. Slashing is the process of taking money away from a wallet that breaks the rules. The goal of having slashing conditions is to make it expensive to break the rules to reduce or eliminate the economic incentive for breaking the rules. There is one offence that cannot be tolerated and must result in the slashing of a wallet. That offence is the alteration of a transaction or block that had previously reached consensus.
The slashing protocol can burn 10 -100% of the fund in a malicious attack, depending on the vector and coins involved. Clearly there are many variables to consider with such a powerful protocol. This will be one of the final features activated for Helios Protocol as the massive implications of the code requires the utmost testing and due diligence before release.
6) Wallets Our wallet is web/browser-based, yet very secure. We provide a service where we store your encrypted keystores in our secure online database for your convenience. Your keystores are all encrypted and decrypted client-side (on your computer), and are transmitted to our database already encrypted. Therefore, it is impossible for us to access your private keys or change your password.
- A. dApps
The Helios platform will be capable of executing smart contracts and dApps programmed in Solidity just like the Ethereum platform. This will lead to accelerating the adoption of the Helios platform by existing developers. It will allow for seamless migration of Ethereum based dApps to the Helios platform. Furthermore, a large amount of HLS tokens is allocated to a dApp incubator fund to support new visionary projects built on the Helios platform and offset the developmental cost of new projects.
- B. Current dApps
=== 1. This section is reserved for dApps deployed on the network at and after mainnet launch. ===
- C. Smart Contracts
=== 1. This section is reserved for smart contracts not using dApps deployed on the network at and after mainnet launch.===
The Helios consensus mechanism is based on PoS and the well understood physics of magnetism. Helios Protocol is able to provide security and immutability to the same degree as PoW. It also provides additional measures not seen in PoW that increase security further. Each wallet address has its own blockchain, and the wallet must sign all blocks on the chain. This makes it impossible for anyone to edit the contents of another wallets blockchain. Therefore, if a block or transaction is changed after reaching consensus, there is immediate proof that it was changed by the owner wallet. This allows the network to immediately identify the offending wallet and slash their funds. The amount of funds that are slashed are chosen to completely eliminate the economic incentive to break the protocol rules.
10) External Links
A. Discord https://discord.gg/aQcQ8Uw
B. Website https://heliosprotocol.io/
C. Twitter https://twitter.com/HeliosPlatform
D. Bitcointalk https://bitcointalk.org/index.php?topic=4317054.0
E. Telegram https://t.me/joinchat/GSuKeBGme_EoTjHCiGmupQ
F. Reddit https://www.reddit.com/r/heliosprotocol/
G. Instagram https://www.instagram.com/heliosprotocol/
H. Github https://github.com/Helios-Protocol/
K. Medium https://medium.com/@heliosprotocol/
Helios Protocol decided not to have an ICO. Development of the Helios Protocol is entirely self-funded. It will let the technology speak for itself rather than making empty promises. Instead, Helios Protocol is going to give away a huge amount of tokens over a five year period as a reward to active community members, those that will help to build the Helios ecosystem.