What is InterValue?
Blockchain technology is considered to be the Ɖfth most likely technology which will lead to disruptive revolution in productivity and production relations, following the steam engine, power, information technology and Internet. Since creation of Blockchain technology represented by Bitcoin in 2009, this technology has made great progress and received more and more attention. Especially in recent years, Blockchain technology has become global focus.
From core technologies to chain applications, comprehensive explorations has been carried out for Blockchain. However, as far as current Blockchain technology is concerned, there is a big gap between chain technology and various applications. Especially, there are many technical diƋculties around Blockchain core technologies, which need breakthrough. At present, the infrastructure to support development of Blockchain applications is unstable, thus many applications are not eƈective. Therefore, it is urgent to make research and development on Blockchain infrastructure, thus providing reliable support for various Blockchain applications, as well as promoting implementation of Blockchain applications in all kinds of industries, which makes Blockchain serve human beings faster and better.
We propose a infrastructure for global value-internet, InterValue. It aims to solve the problems such as low applicability, transaction congestion, high commissions, long conƉrmation latency, weak resistance to quantum attacks, poor anonymity in communication and transaction, incapability in crossing and merging chains, large space for storage and etc. InterValue would optimize and improve Blockchain technology in all aspects including protocols and mechanisms, and become a genuine infrastructure of Blockchain 4.0. Also, InterValue would provide a platform for developing various DApps (distributed Apps), as well as feasible solutions to construct a global value-internet.
InterValue focuses on core technology of Blockchain infrastructure and platform. Our goal is to build an infrastructure conquering current key technical problems and supporting all domain applications in terms of ecological view. Main technological innovation of InterValue includes: Underlying P2P network, combining the advantages of Tor-based anonymity and Blockchain-based distributed VPN, we design a novel anonymous P2P overlay network, including anonymous access method and encrypted communication protocol, which greatly enhances anonymity of nodes in the network and ensures that it’s hard to trace node address and to crack communication protocol. Data structure, a new data structure HashNet derived from DAG (directed acyclic graph) is proposed, which greatly reduces storage space required by nodes and improves eƋciency and security of data storage. Consensus, we design an eƋcient and secure double-layer consensus mechanism consisting of HashNet consensus and BA-VRF (Byzantine Agreement based on VeriƉable Random Function) consensus, which supports high transaction concurrency, fast conƉrmation and building eco-systems for diƈerent application scenarios. In version 1.0, due to the fact that HashNet consensus is much diƋcult to implement, we Ɖrst implement a double-layer consensus mechanism combining DAG consensus with BA-VRF. Anti-quantum attack, new antiquantum algorithms are devised, which replaces existing SHA series algorithm with the Keccak-512 hash algorithm, and replaces ECDSA signature algorithm with an integer lattice-based NTRUsign signature algorithm. These algorithms reduce the threat coming from development of quantum computing and gradual popularization of quantum computer. Transaction anonymity, based on anonymity characteristics of cryptocurrency such as Monero and ZCash, zero-knowledge proof and ring signature are applied to transaction anonymity and privacy protection, which performs with high cost-eƈective ratio and excellent security to satisfy privacy requirements in diƈerent application scenarios. Smart contracts, we design Moses virtual machine (MVM) which supports declarative non-Turing complete contract as well as advanced Turing complete contract programmed in Moses language. MVM is able to access oƈ-Blockchain data conveniently and securely, and supports issuance of third-party assets, which can be integrated into applications in terms of public, permissioned (private) or consortium (hybrid) Blockchain. Crossing and merging chains, we adopt chain-relaying technology to solve the problems in crossing chains transaction and transparent operations among multiple chains, which not only can maintain independence of crossing chains operation, but also reuses various functions of InterValue. Ecological motivation, various token allocation methods are used, which support double-layer mining for incentives. Industrial application, we design lots of industrial common interfaces in form of JSON-RPC, satisfying diƈerent scenarios such as circulation payment, data transmission, data search and contract invocation.
InterValue supports implementation for a variety of applications including anonymous communications, power sharing, storage sharing, bandwidth sharing, reputation sharing (credit guarantee), and it provides open interfaces for third-party DApp development. By connecting with various application scenarios, InterValue can cooperate with kinds of service providers and application providers to support commercial organizations or government agencies to build public, consortium or permissioned chain application systems according to business characteristics and requirements.
InterValue will reform existing operational mode in Internet. It introduced Token distribution mechanism for incentive to inspire community to maintain InterValue public chain and to develop DApps. InterValue will stimulate more value and network spreading eƈects on public chain, and turn economic incentive system into a self-renewing system, and create a completely decentralized ecosystem of valueinternet and value transfer.