Blockchain is that…
and stores data such as all transactions by all users participating in the network. It was named Blockchain because it is a chain of blocks.
As a feature, counterfeit modulation is difficult because the block chain stores data by several people. Hacking is virtually impossible because all participants’ transaction data must be attacked in order to falsify. Breaking into these decentralized structures is realistically very difficult and can reduce the resulting social costs by about one-tenth by eliminating the need for centralized management.
Principle of Blockchain Transaction
Background of BRTE technology development
In online financial systems, rapid processing speed is one of the essential elements along with security. Users hope that financial transactions (such as remittances, payments, electronic signatures, etc.) will be handled directly on the spot. Neither user wants to pay at the store, wait for a moment, and then receive the purchased goods after the payment is confirmed.
Existing block chain platforms were considered impractical for the use of financial platforms due to their slow processing speed. By giving a new concept of family node within BRTE platform, these problems have been completely improved.
|Represent platform||WIZBL||Bit, Eth etc||EOS, Eider etc|
|Coin distribution||Platform Environmental Sustainability||Hash siz||Depending on the shares of the coin you own,|
|Strong point||Market stability
Secure by applying PBFT protocol
|-Encourage quick user engagement
-Currently used by major coins
|-Minimize mining costs
-Minimize Pump & Dump
|Weak point||Need to secure a lot of use||-High power consumption
-Competitive structure by investment
-Risk of market collapse by power group
|-Causes Avoidance of Coin Use
-Competitive structure by investment
-Risk of market collapse by power group
BRTE platform is
It maintains its own system of proof and compensation called PoM. PoM is a verification method based on the trust of the BRTE platform, and supports compensation to users who help maintain the ecosystem.
This method is fair and reasonable.
The subjects of compensation are full node users, and there is no need to put much effort into becoming full node users.
Full node is a user holding all blocks, supporting verification of transactions together, and BRTE ecosystem can maintain a fast and stable environment with more full nodes. PoM is a compensation system for users to keep their PC or server computers full node, and the scope of compensation is part of the fees incurred in transactions in which Full node participated in verification.
As such, PoM is a reasonable compensation system that is free from excessive competition among users, and with this compensation system, the environment of the BRTE platform can be further improved.
BRTE Technology Competitiveness
|Real Time transaction||Improving block generation cycle||Change the block creation cycle to 1 second to reduce possible time loss during block creation|
|Change of Block Generation Method||Design and implement block chain branching by introducing block creation authority and separate consensus algorithms to only a small number of members (nodes) called family groups.|
|Change of consensus algorithm||The consensus algorithm refers to a set of rules that determine which block chain is valid when a branch of the block chain occurs.
By applying PBFT consensus algorithm, Wizble selects and implements block generation nodes through voting activities within the family group prior to block creation.Under the PBFT consensus algorithm, block creation is only carried out on special nodes, so no branching and invalid block blocks of the block chain occur, and transactions are complete along with block creation.
|change in block si||Increase block size to 8MB for fast processing of large amounts of data.
Increasing block size increases the number of trans-jacks that can be handled in one block and reduces unnecessary work that may occur in verifying the contents of the previous block.
|Extensibility||Application of Solidity SmartContract Technology||By applying solidity, which is used in various platforms including Etherium, to its block chain platform, existing dapp developers can easily access the block chain platform.
In addition to solidity, we are also working on using the block chain platform through other languages such as WASM.
|change in block size||Proof of Maintenance||Most of the block chain platforms currently in operation have a compensation system that rewards the act of creating blocks, although there are slight differences. That is, block creation (collection) becomes a fundamental act of compensation. Wizble designs a reward system for actions that support the normal operation of the block chain platform (data retention and transaction verification) rather than a reward system based on these block-making behaviors.
In other words, anyone who supports normal operation with good faith on the block chain platform can be rewarded. This compensation scheme is funded by transaction fees, and information on the percentage and specific methods of compensation is currently being designed.
Wizble’s BRTE technology will be applied to all industries that must prevent forgery and tampering, and will provide a scalable block chain platform in various industries including finance, energy, utility manufacturing, logistics, health, media, public services, government administration and smart cities.
BRTE 기술의 경쟁력
- cryptographic book
- decentralized network
- untrustworthy party
- independent settlement confirmation transaction
- Payment & Remittance
- Banking & Finance
- Clearance & Payment
- Securities & Shares
- permanent record
- Public record repository
- Proof time hashes
- World Common Format
- Accessibility (OPEN API)
- Multinational organization
- Voting & Billing
- P2P Bonds)
- Remote agent service
- Tax receipt
- Notarial services and document notarization
- Protection of copyrights and patents
- Massive cooperation
- Transfer/transfer of objects
- Trade security
- Dron Sensor Network
- Smart home network
- Factory type IoT network
- Smart City
- Automatic driving car
- Personalized robots and drones
- Automatic logistics system
- World Common Format
- Integrate large, multi-data flow
- Private life and security
- Real-time access
- Universal EMR (electronic medical records)
- Medical and health data banks
- Share data for self-health monitoring (Quantified self)
- Large-scale health data analysis
- Smart assets
- Digital Health Wallet
- Health Token
- Building a large infrastructure for collaboration
- Confirmation and compensation system for filtering good talent
- Community supercomputer
- P2P Resource Network
- Cloud analysis
- Film, date visual art
- Artificial intelligence
- Digital Mind File Services
Application field – Payment system
Pay Payment System is a simple payment platform that utilizes BRTE-based tokens that enables users who own a crypto currency to freely use digital assets in real life using digital assets and mobile wallets.
Based on real-time transaction processing provided by BRTE Blockchain platform, it provides safe and fast transaction services (payment/transfer).
In addition, it can maximize convenience while meeting the highest level of security standards required by the block chain and financial ecosystem, and manage customer assets in a safe environment.
1. Pay is…
Cryptocurrency simple payment system that allows real-time payment by exchanging crypto wallet function and crypto into WIZBLpay
2. Feature point of WIZBL Pay
A. Using crypto as a means of payment in real life
B. Real-time trading is possible (more than twice the normal credit card transaction rate – 20,000 transactions per second)
C. Data accumulates in the block chain, so it is impossible to falsify and secure for transparent transactions.
3. Main function
A. Cryptocurrency wallet service for deposit and withdrawal
B. Exchange Cryptocurrency into WIZBLpay
C. Simple payment function for the purchase of services and products of merchant
D. Funding between pay users
E. All transaction information is stored in the block chain and encrypted on the block lookup website “Explorer”
Transaction information can be inquired
■ Pay payment system flow
- Provides key crypto asset management including WIZBLPay and deposit/deposit function with external wallet or exchange through wallet function.
- It is equipped with a function that allows the exchange of the crypto managed by the wallet between the crypto and the crypto through real-time market price and exchange rate information.
- We provide payment function (QR payment/NFC payment) between member and merchant through WIZBLPay, and remittance function between member and member.
- Registered merchants can check the sales details of the payment.
Simple Payment Function
- Check the quantity of WIZBLpay that users have.
- Charging function: Exchange the crypto into WIZBLpay.
- Transmit function: Transfer of WIZBLpay between end users.
- Exchange: exchange of WIZBLpay to crypto.
- Payment request: merchant requests payment from the general user.
- Offline payment: The user scans the merchant QR and pays.
■ Cryptocurrency Wallet Function and Franchise
Cryptocurrency wallet and deposit withdrawal
- Cryptocurrency wallets – Create wallets by crypto.
- Cryptocurrency deposit and withdrawal details – You can inquire deposit and withdrawal details by crypto.
- Cryptocurrency deposit function – Show crypto deposit address.
- The ability to withdraw crypto-currency – the ability to withdraw money from other wallets.
- Apply to a franchise – Use franchise rights after approval from headquarters.
- Check merchant information – merchant information can be inquired.
- Payment request – merchant requests payment from the general user.
■ Crypto Wallet & Frenchise
■ Charge Flow (Cryptocurrency → WIZBLpay)
■ Cryptocurrency Wallet
■ Connect to Blockchain Explorer
IDC (2017), Worldwide semiannual blockchain spending guide
■ World market size
Blockchain is expected to spread to all areas including finance, distribution and service, manufacturing, infrastructure, and public services.
In particular, it has been spreading in earnest since 2018 after a verification process on feasibility, sustainability and potential utilization in 2017 led by the financial sector at the forefront. Blockchain investment is expected to increase 66.6% annually to reach $1.8 billion by 2021, with the largest portion of investment in the financial sector in 2021.
Data Analysis by the Korea Institute of Science and Technology Information(KIST)
Blockchain market outlook is expected to grow to $130 million in 2015 and $550 million this year, with $3.74 billion in 2022.
The Korea market is expected to grow to 12.4 billion won in 2015 and 52.4 billion won this year, and to 356.2 billion won in 2022.