Topic: Plenteum Application Services (Read 137 times)

Hi All. I am from the Plenteum Developers team.

Over the course of the next few months we will be doing public beta testing.

Here is a snip of what Plenteum App Services will provide. Whilst some services are not live yet, we have done proof of concepts and have a testnet running for our Identity Network & Asset Platform

Hope to hear from you guys. Let us know if anyone is interested in potentially partnering for a use case.

https://medium.com/@whassupza/roundup-september-2019-6d13640d2477

Introducing: Plenteum Application Services

We understand that as things stand today, there is no “one size fits all” approach that caters for all potential distributed ledger technology applications and use cases. Open public blockchains such as Bitcoin or our own Plenteum Core Blockchain rely on a Proof of Work algorithm to validate transactions, and in isolation are potentially limited by physical design constraints that make it almost impossible(or extremely difficult) to use these blockchain networks and their primary currencies as a method of proof for anything other than payments in the native crypto-currency of that network. Coupled with that, price volatility, transaction speed and transaction cost are seen as barriers to real world utility.

Plenteum Application Services is an ecosystem of different, but complimentary technology stacks, utilizing open source technologies that are being actively researched and developed to mitigate against the already mentioned barriers to real world utility. By leveraging these technologies, we are able to create a unique experience for our users, and provide Blockchain-as-a-Service solutions for both Public and Private use-cases in different industries.

In a nutshell, Plenteum App Services provides a set of API’s, integration helpers (SDK’s in Python & Node.JS so far) and Boilerplate applications that are dependent on underlying blockchain networks that enable simplified setup and operation of independent and inter-dependant blockchain based services. This will allow new and existing users to make use of our suite of tools with clear integration guidelines and processes.

It’s built on Hyperledger Iroha at is core (Version 1.1 for current testnet). We have been doing constant R&D for how different use cases can be implemented using a Proof of Authority Sidechain / Parachain as a scalable solution and an easy but robust Permissioned Distributed Ledger, that allows for careful crafting of assets, domains, user accounts & most importantly user permissions, which can be assigned in “permission groups” or roles depending on required functionality.

The vast set of commands & queries with the unique YAC (Yet Another Consensus) BFT algorithm has allowed internal Proof of Concepts that would not have been possible or at least taken a vast amount of time to carefully plan and develop, and the mature set of libraries available from Hyperledger Iroha has accelerated things to the point where we are approaching readiness for public beta testing.

The components behind Plenteum App Services are tightly integrated with each other at varying levels of operation. For purposes of explanation these can be defined in terms of layers:

Layer 1: The Plenteum Blockchain (Master Blockchain)

Plenteum serves as the Main Payment Settlements Currency on the extended network(s). Costs & Fees are calculated via the API(s) and the user + transactional data gets stored on our ID Network (see below).

Layer 2: The Plenteum Asset Platform & ID Network (Iroha)

P-o-A (Proof of Authority) Public & Private Permissioned ledgers. The core service where users manage their accounts, create assets and transfer those assets between participants.

Layer 3: API’s and Helper Libraries

Purpose built, easy to use APIs and Helper libraries are created for the sole use of interacting with PLE App Services. These can be easily customized & extended for each use case, resulting in a standardised environment where other ID Network users are able to interact with domains, their accounts and assets.

Layer 4: End User Applications

These are various purpose built and boilerplate applications that facilitate development and interaction with the various elements of the network. They include, but are not limited to Mobile Wallet & Network User management apps, Web Administration Portals, SMS & USSD Gateways, Authentication helpers etc..

In a future series of posts, we will break each of these layers down into more detail, explaining the component parts and how these layers interact with each other to provide real world utility.

Staking PLE

In order to run a Parachain (Iroha) node, PLE will need to be staked. Stakers, or App Services Node operators will earn a percentage of the total income the entire network generates from asset registration, asset transfer and/or transaction fees on the Public Assets Platform & ID Network.

More details on Staking PLE and how to setup the Iroha nodes will be provided in due course.

Our use cases…

As most of you are probably already aware, we are an African coin, conceived and born in South Africa.

Africa faces numerous challenges, both economically and operationally due to a number of factors, including;

- Lack of governance
- Lack of accountability
- Corruption
- Informal Traders and Markets
- Lack of Basic Education

Our ultimate end goal with Plenteum Application Services is to allow for simplified implementation of solutions that cater to, or mitigate against, the risks that these challenge pose to economic growth and upliftment in the region.

Working with our partner entities, we have identified and run test scenario’s against a number of possible and probable usages of the technology stack to build the solutions they need to solve these very real challenges. This includes, but again is not limited to, transaction throughput rates, permission based security, configuration options and data storage and protection of private data on the network.