Helios is a high-level, interpreted, interactive and crypto-oriented ecosystem designed to be highly scalable and secured. It uses the power of our own blockchain with the possibility to interact and transfer value to each other. The Helios Cryptographic Coin (IOS) is the lifeblood of the Helios Blockchain Platform and Helios Decentralized exchange, allowing the instant & secure transmission of information worldwide while securing the Helios Network. Our vision is to simplify the many complexities of current blockchain technology via intuitive services and APIs that speed adoption of distributed blockchain applications.
The Helios platform will be capable of executing smart contracts and dApps programmed in Solidity just like the Ethereum platform but too with few others languages like Python and Basic. This will allow accelerated adoption of the Helios platform by existing developers. It will also allow for seamless migration of Ethereum based dApps to the Helios platform. Furthermore, we are allocating a large percentage of IOS tokens to a dApp incubator fund to support new visionary projects built on the Helios platform.
Helios is secure: Helios will be secured by all nodes and masternodes distributed on the network. You will be able to develop smart contract HRC20 ; You do not need to compile your program before executing it. This is similar to PERL, PHP & SOLIDITY. Future Is Coming and we aim to implement in time a Quantum-Secured Blockchain Technology. Applications built on the Helios Platform will utilize an inherently secure distributed database that guarantees transactions cannot be altered retroactively thanks to the underlying blockchain technology.
Transactions are consistent and accurate across the entire network, period.
Helios is green: The new Helios consensus mechanism doesn’t require mining which dramatically reduces the energy consumption. We can walk through a quick calculation to see just how much more efficient we expect it to be as compared to Bitcoin:
To compare apples to apples, lets assume the Helios network has the same number of fullnodes as Bitcoin, which is approximately 10,000. (https://bitnodes.earn.com/dashboard/?days=730) We will assume each Helios fullnode is running an AMD Ryzen 1700, which is much more than enough processing power, and is not even the most efficient option. In this case, each node will draw around 100 - 130W from the wall. (https://www.bit-tech.net/reviews/tech/amd-ryzen-7-1700-review/6/) In this case, the annual energy usage of the Helios protocol will be between 0.011 and 0.0087 TWh:
100W x 10,000 Nodes X 8760 hours = 0.0087 TWh
130W x 10,000 Nodes X 8760 hours = 0.011 TWh
The annual energy usage of Bitcoin is currently estimated to be 66 TWh. (https://digiconomist.net/bitcoin-energy-consumption) Therefore, Helios will use approximately 6000 and 9000 times less energy than the Bitcoin network with the same number of fullnodes.
Helios is Interactive: You can actually sit at a Helios prompt and interact with the interpreter directly to write your programs. The Helios Blockchain Platform can run on as few as 2, to as many as millions of nodes.
With all nodes having secure access to the entire distributed database, our platform ensures that your distributed applications stay up, even if nodes go down.
Helios is crypto-oriented: Helios supports crypto oriented project or technique of programming that encapsulates code within objects like dApp.
Helios is easy to use: You can develop project on Helios with C++, Python, Solidity that are great languages for the beginner-level programmers and supports the development of a wide range of applications from simple text processing to smart contracts to games.
Low transaction fees
Transaction fees are necessary to help fund rewards for full nodes who are required to maintain the Helios network. Without transaction fees, rewards would have to come entirely from newly minted coins which would lead to an increased rate of inflation and devalue the coin. Transaction fees are also necessary to stop a penny-spend attack where users send a very large number of small transactions to overload the network. That said, the Helios protocol will have many orders of magnitude lower fees as compared to traditional blockchain projects for the following reasons:
High transaction fees on the traditional blockchain occur because there is a limited number of transactions that can fit into each block. The transactions with highest fees are added before others which causes users to pay higher fees to make sure their transactions are added to a block as quickly as possible. This results in competition amongst users which drives transaction fees upwards. The high transaction throughput of Helios, and its ability to process transactions concurrently, completely eliminates this competition.
The Helios consensus mechanism, which lacks PoW, allows nodes to run on inexpensive, energy efficient hardware (see the energy efficiency section below). This dramatically reduces the upfront and continuing costs to run a node. So, the rewards required for nodes to generate the same income as they would with other PoW coins are also dramatically lower. This allows Helios to remain lucrative in comparison to PoW coins even with smaller rewards for nodes. The cost savings from having to pay less rewards to nodes is transferred directly to the users of the network via lower transaction fees.
High speed & scalable
Every wallet address has its own independent blockchain. Transactions only need to be added to the blockchains of the two parties involved in the transaction, ie. the sender and receiver. This allows transactions between different users to occur independently and simultaneously resulting in a transaction throughput many orders of magnitude greater than current blockchains. If we assume the only bottleneck to transaction throughput is the blockchain architecture, it grows linearly with the number of wallets on the network. Thus, the blockchain architecture of Helios is infinitely scalable. That said, once we have eliminate the blockchain architecture bottleneck, that limits other blockchain projects, there will inevitably be other bottlenecks that present themselves at higher transaction throughputs. One such bottleneck is the sheer computational power of the nodes. Modern processors can only process so many transactions per second. The exact number depends on the programming language, processor model, and efficiency, but is expected to be in the 1000 to 10,000 tx/sec range with current affordable hardware. However, as computer hardware technology improves, and processors become faster, so will the throughput of our blockchain. We have essentially tied the scaling of the Helios Protocol, with the scaling of computer hardware. If you consider how massive the computer hardware market is, and how much demand there is for faster hardware, it is clear to see that things will reliably scale year after year.
Furthermore, the parallel blockchain architecture is extremely well suited for sharding. This will allow the transaction throughput to approximately scale by the number of shards on the network. If we have just 10 shards, we have no increased the transaction throughput, with current hardware, to between 10,000 and 100,000 tx/sec.
As a brief exercise, let's consider the scenario at some time in the future a few years from now, where computer hardware is no longer the bottleneck. Let us assume Helios has 30 million wallets, which is approximately the number of Ethereum wallets as of now, and each blockchain could process 15 tx/sec, which is the approximate speed of a single Ethereum blockchain. The transaction throughput of Helios for this scenario can be calculated by
TX-throughput = 30000000/2 x 15,
where the first term is the number of wallet addresses divided by 2 because there are 2 wallets involved in each transaction, and the second term is the transaction rate of each blockchain. This results in a Helios transaction throughput of 225 million tx/sec. We can compare this to Bitcoin's 4 tx/sec or Ethereum's 15 tx/sec in which case Helios is on the order of 50 to 20 million times higher throughput, respectively.
Secondly, wallets are allowed to add new transactions and blocks to their own blockchain at any time they choose. This allows transactions to take place on demand. There is no longer the need to wait for the next block to be mined like a traditional blockchain. So not only is the transaction throughput increased, the transaction latency is decreased as well.
Problem & solution
The problem that helios will solve is the real DECENTRALIZATION and the ability to unbank yourself.
Not only do the banks use conversion rates in their favour, they also charge exceptionally high fees. It cost us £9.50 for them to send our money to an 'international bank account.'
Another thing to keep in mind is that these transactions take days to clear, sometimes weeks. These transactions also only clear on 'Business days’ in a world where trade is active 24/7. Banks are already 15% inefficient in this aspect.
As you can imagine, this slows down productivity as businesses cannot ship their products until they have received payment, and the consumer is often turned off by having to pay all these additional costs.
The only winner in this situation is the banks.
Global trade has never been easier, and the reasons listed above are seriously damaging both the consumers and the businesses wanting to trade quickly and easily - on a global scale.
The global foreign exchange market has a daily trading volume of over 5 Trillion USD!
Another problem that Helios will solve is the lack of scalibitity of all blockchain transactions. At a maximum, Bitcoin can handle about three to seven transactions per second. But if crypto was to go mainstream, it would need to process
hundreds of thousands of transactions per second to ensure the economy could keep moving without massive delays for consumers and businesses.Sadly, Ethereum has a similar problem — as its co-founder Vitalik Buterin himself admitted
The network has a maximum capacity of 15 transactions per second, and he warned that if the status quo remains, the industry’s infrastructure will be unable to cope
and mainstream adoption will be hard.
Our solution is an infinitely scalable cryptocurrency and smart contract platform based on ou own blockchain. The Helios platform is designed from the ground up to be futureproof with secure, high speed, and 0 fee transactions to enable truly decentralized
and democratic applications. Also, Helios scaling solutions would ensure that certain transactions are completed without miners, allowing only essential information to be synchronized. Improvements and upgrades could also be agreed
upon and implemented without the arduous process of getting approval from every stakeholder in the community, and new features could be distributed without the whole blockchain being disrupted.
No need for the middleman :
Banks provide security in the sense that you know where your money is going, and you put your trust in your bank that your money will arrive to the right place as soon as possible. However, you can't see the process that goes on inside a bank; you are blind in your transactions and you play a waiting game as to when those transactions will clear.
Blockchain eliminates the need for this middleman; you are able to send your ‘digital money’ from your ‘virtual wallet’ to the receiving party’s ‘virtual wallet’ via a set of keys, which resemble addresses – or to put it into our current banking language – Our sort code and account number are the Public keys that we share with people on the Blockchain.
If I wanted to send my friend 10 Bitcoin in Australia, he would just have to send me his Public address for his Bitcoin wallet and I can send the Bitcoin from my address (account) to his, without weeks of delays.
Please note there is a big difference between Public and Private keys.
Very low Transaction fees :
As mentioned above, If you pay GBP 9.50 for an international payment, and this number only goes up the more money you are sending over at once.
Bitcoin fees vary on many factors, but you can transact Bitcoin for free if you didn’t want to pay the miniscule transaction fees, the only problem with opting for a 0 transaction fee is that your transaction would be deemed as low priority and can possibly be rejected from the mempool (essentially the place where the request for the transaction to occur is placed).
Let me give you an example of how Bitcoin Fees compare to Banks.
On average, the fees for Bitcoin tend to be around 0.0001 to 0.0003 BTC.
Going back to my previous example, if you want to purchase a $1,000 item from the USA this would be roughly 0.18 BTC (based on current market price) and the fee at most would be around 0.0003 BTC which is USD 1.70, or GBP 1.28. This is 7.5 times cheaper than the current fees that banks use.
Blockchain transactions are all recorded on a digital ledger, available for anyone to view at any time.
Blockchain technology projects your transaction to the entire network, and everyone on the network can verify where, when and who you sent your transaction to. This dramatically reduces fraud and puts the trust in the hands of the technology, not the banks.
Security & immutability
The Helios consensus mechanism, which is based on both PoS and the very well understood physics of magnetism, is able to provide security an 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 wallet’s 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.
See the consensus mechanism section of the technical whitepaper for more details.
Trully decentralized & democratic
Blockchain technology was originally developed with a guiding principle of decentralization. Decentralization is in the blood of any true blockchain project. The Helios protocol is determined to preserve this principle and provide a truly decentralized blockchain protocol.
The Helios protocol achieves a high level of decentralization by allowing any individual to participate and vote in the consensus process no matter how small their stake may be. Unlike delegated PoS, our consensus mechanism doesn’t require electing representatives or delegates to vote on your behalf.
PoW naturally results in some degree of centralization of power because it is more profitable to have a very large mining facility as compared to a single mining rig that an average person might have. Furthermore, the miners have the power to choose which transactions get added to each block. The Helios consensus mechanism eliminates both of these sources of the potential centralization of power.
Suppose you rent an apartment from helios. You can do this through the blockchain by paying in cryptocurrency. You get a receipt which is held in our virtual contract; helios give you the digital entry key which comes to you by a specified
date. If the key doesn’t come on time, the blockchain releases a refund. If helios send the key before the rental date, the function holds it releasing both the fee and key to you and me respectively when the date arrives. The system
Works on the if-then premise and is witnessed by hundreds of people, so you can expect a faultless delivery. If helios give you the key, we are sure to be paid. If you send a certain amount in $ios, you receive the key. The document
is automatically canceled after the time, and the code cannot be interfered by either of us without the other knowing since all participants are simultaneously alerted.You can use smart contracts for all sort of situations that range
from financial derivatives to insurance premiums, breach contracts, property law, credit enforcement, financial services, legal processes and crowdfunding agreements.
The Swap is the mechanism employed to move IOS from the Ethereum blockchain to our own chain (HELIOS) at a pre-determined rate and date. As the token on the ethereum blockchain may be incompatible with the new one, it becomes necessary
to initiate a swap to carry users from the old blockchain to the new one. In order to receive your new IOS token during this swap, you will need to put your $ios token on an official ethereum wallet erc20 compatible. This will will
take place after few months of successful use of our HELIOS platform and will serve as gas for interract with many services.
Token unlock program
In order to gain maximum value for all IOS coins created, a dividend of 10% per month will be distributed each months for all IOS holder until december 2019. After discussing with the entire team, few exchanges and all official erc20 wallet
like MEW will support the Monthly $IOS Token Unlock Program. We will take a snapshot of IOS balances across all exchange users and erc20 wallet holder at the end of each month and distribute the monthly tokens on the 14th day of each
coming month. The tokens will be automatically credited to your Erc20 wallet or supported exchange wallet. The exact schedule will be listed soon on our socials media. Users that have a balance of no more 100 IOS at the time of snapshot
will not be eligible for the distribution.
Why IOS is needed on the Helios Network
The Helios Cryptographic Coin (IOS) is the lifeblood of the Helios Blockchain Platform, allowing the instant & secure transmission of information worldwide while securing the Helios Network.
Large, decentralized networks require robust security protocols and algorithms to ensure that all members of the network are behaving honestly. The Helios Network does this via a Proof-of-Stake algorithm where users “stake” their coins to secure the network. To encourage staking and securing the network, the network rewards users for the time spent staking. Node and masternode information will be soon released.