HDCA is the world’s 1st IoT Contract & Payment Platform based on Blockchain. Backed by Hyundai BS&C, HDCA new technology allows fast, secure and effective communication between IoT devices.Hdac will solve these three issues by combining blockchain and IoT, allowing automated, machine-to-machine, ultra-low cost transactions between IoT devices that are authenticated, mapped and verified through the blockchain.
|Total raised||258,000,000 USD|
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In an environment such as a smart home or factory, various devices equipped with sensors, which are closely interconnected using a private blockchain, can be configured to operate more safely and reliably in accordance with each other’s conditions. A private blockchain is configured to perform not only user authentication but also mutual authentication between devices, generating and securely recording operation details and scenario-based IoT contracts.
As initial blockchain technology is becoming popular due to its features of decentralization, transparency, usability, and reliability, the applicability of the blockchain is expanding across industries such as cryptocurrency, attendance verification, forecast markets, and international finance. Therefore, as the amount of transactions and data increases, it is necessary to consider a case wherein public blockchains will exceed their natural capacity.
Blockchain has the necessary basic conditions for all the nodes participating in the network to agree on in the step of verifying that the block is valid for connecting a new block. All participating nodes should be able to identify the same result with the same procedure, and all verification processes must determine the same value. In addition, the determined value should be that proposed by a specific node. Hdac blockchain is based on the PoW method as a public blockchain. It also supports the mining method for a trust-based private blockchain: a trust-based consensus algorithm for a permissioned blockchain.
Blockchain-based platforms have already been verified with high security. The private key, public key, and wallet address used in blockchain based transactions are created using a pseudo random number. In recent cases, a pseudo random number security vulnerability has been found by analyzing the patterns of pseudo random numbers and creating values for specific purposes. There have been various attempts to compensate for these weaknesses, and a quantum random number method has emerged that cannot be analyzed theoretically.
The first block rewards begins with 5,000 HDAC,then it has been decided by vote to reduce the rewards to 2,500 HDAC from 150,000th block and to 500 HDAC from 183,400th block. The total supply of HDAC has also reduced to 2,850,000,000 HDAC from 12,000,000,000 HDAC. The block generation cycle is 3 minutes, and halving is set to reduce the mining result by half for every 1,032,000 blocks. That is, the mining result is reduced by half approximately every 71 months since the Genesis block is created.
Records all transaction blocks as a full node. Stores setting information related to user-device, device-device control, billing, and management performed by the administrator. A person who registers users, gateways, and devices in the blockchain and grants access between them. The settings are safely stored in the full node of the blockchain and are transmitted to the following users, gateways, and devices through the network. Each user and device maintains the latest settings related to them. It can also be integrated systematically with the existing IoT operating environment.
HDAC contract is a concept where the object of the smart contract is expanded to IoT devices. A programmer can create a program that controls the operation of the IoT device. That is, he or she creates a smart contract for the IoT, and sends an IoT contract to a specific device to perform machine-based automated work and operation. The IoT contract is a transaction that transfers control commands between user-device or device-device, and to use this transaction, user-device or device-device authentication, which will be described later, must precede.
William Chun BLOCKCHAIN EVANGELIST
Devon Choi DEVELOPMENT SENIOR DIRECTOR
David Lee OPERATION SENIOR DIRECTOR
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