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Modular, flexible, powerful. Enterprise-ready blockchain architecture

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Page 1: Enterprise-ready blockchain architecture

Modular, flexible, powerful.1 Modular, flexible, powerful.

Enterprise-ready blockchain architecture

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DISCLAIMER THIS PRESENTATION AND THE INFORMATION CONTAINED THEREIN ARE STRICTLY CONFIDENTIAL AND ARE USED EXCLUSIVELY FOR SELECTED INTERESTED PARTIES ONLY. REPRODUCTION OF THIS PRESEN-TATION OR THE DISSEMINATION OF THIS PRESENTATION, OR THE INFORMATION CONTAINED THEREIN, TO THIRD PARTIES, IS NOT PERMITTED, AND ANY REVIEW, RETRANSMISSION, DISSEMINATION OR OTHER USE OF, OR TAKING OF ANY ACTION IN RELIANCE UPON, THIS INFORMATION BY PERSONS OR ENTITIES OTHER THAN THE INTENDED RECIPIENT IS PROHIBITED. PERSONS WHO HAVE RECEIVED THIS PROMO-TIONAL MATERIAL SHOULD NOT RELY UPON IT ALONE, AND SHOULD SEEK PROFESSIONAL ADVICE IF NECESSARY. THIS PRESENTATION DOES NOT CONSTITUTE AN OFFER TO ACQUIRE FUND INTERESTS, NOR DOES IT CONSTITUTE AN INVITATION TO INVEST, DIRECTLY, OR INDIRECTLY, IN ICOs, CRYPTOCURRENCIES, CRYP-TOASSETS AND PRIVATE EQUITY. THE INFORMATION MADE AVAILABLE IN THIS PRESENTATION MAY CHANGE AND THERE SHALL BE NO OBLIGATION ON OUR PART TO UPDATE ANY OF THE INFORMATION SET FORTH HEREIN. DATA AND FACTS USED IN THIS PRESENTATION ARE DERIVED FROM SOURCES WHICH ARE CONSIDERED TO BE RELIABLE AND HAVE BEEN COMPILED USING OUR BEST KNOWLEDGE. HOWEVER, WE DO NOT GUARANTEE THE CORRECTNESS OF THE INFORMATION PRESENTED.

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VisionWe believe blockchain represents a new technological backbone and is a key enabler for enterprises to rethink the way they work and create value. To us, the future belongs to those companies that will successfully bridge the wisdom of tradition with the innovation. That is why we aim to offer established enterprises and blockchain startups the tools to tap into the potential of blockchain technology to improve their business models or shorten their project’s time to market and gain profit maximization. Keeping in view the current trend, it wouldn’t be long before every aspect of human enterprise will directly or indirectly be influ-enced by blockchain technology.

MissionOur mission is to create real-world blockchain architecture that breaks the technical barriers and empowers established enterprises or blockchain startups to move forward with digital innovation. Since blockchain as technology ensures data immutability by design, it is an ide-al solution for organizations where tampering with data should be prevented. Nxxtech block-chain architecture enables extendibility by separating its features in customizable modules to best fit the needs of a specific organization. As such, it gives companies the necessary architecture to create custom decentralized applications of their choice and preference. Do-ing so, the users or devices within a trusted network can communicate and transfer value and messages independently of the servers and centralized systems that prevail today.

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OverviewOur society is rapidly approaching the era of complete connectivity. Every day, we use more devices and generate more and more data the traditional systems simply cannot withstand. The redundancy of information exchanged challenges us to find new ways to store, manage and share personal data. Consequently, we are witnessing the arrival of new technologies that are not only proposing better solutions but also changing many of the traditional para-digms.. One of the disruptors is certainly blockchain. Today, many companies have already recognized the usable value of blockchain technology and are now rapidly investigating how it can streamline their processes and create more ef-ficient communication networks. From the period of market euphoria, marked by numerous emerging projects, we have now entered the period that requires realization and profound evaluation of the proposed blockchain solutions. During their course, a lot of projects have discovered the transition to blockchain technology requires specific, high-end IT and busi-ness knowledge, leading them to numerous challenges and pivots. In spite of good ideas, many companies have lost precious time on that account and are in quest for a fully-opera-tional and bullet-proof blockchain technology to help them speed up the process. Nxxtech is ready-made modular blockchain architecture to help established companies or emerging blockchain startup to quickly deploy blockchain in their business logic. A company can use Nxxtech modular architecture to form their own private ledger and move their edge-to-edge network of main net or to seamlessly assemble a decentralized application of their choice on top. To identify participants within each network established, Nxxtech proposes they identify via Nxxtech ID module. It also introduces Proof Of Authority (PoA), a proprietary consensus mechanism to avoid using unnecessary computing power for block confirma-tions since a company can name trusted validators (authority).

Due the fact the transactions on a private chain don`t need the token to run, the exchange of digital value suddenly becomes extremely fast, efficient and in particular, significantly cheaper. Nxxtech works hand-in-hand with partners in the process of empowering their or-ganization with fully-operational blockchain technology, importantly shortening their time to market and helping them pave the way for new revenue streams and monetization.

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Organizations on the verge of change

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The programmable economy will represent a massive transformation of global economic systems, industries and businesses.

Organizations todayThe history of advanced economies is, at its core, the history of waves of technology innova-tions that disrupt existing production systems. According to the economist Joseph Schum-peter, the economic change is driven by the emergence of GPT (general purpose technolo-gies” that transform industries and production systems. These technologies appear to come in waves, with periods of emergence and adoption characterized by rapid growth, and inter-vening periods and the emergence of the next set characterized by slow economic growth.

Blockchain can be seen as one of these waves. It is considered as one of the hottest to hit the business world as it offers a transparent, shared database which is protected from delet-ing and tampering. By promising to deliver more efficiency and increase trust blockchain can help organizations speed up processes with automatization and form more agile structures by eliminating intermediaries where the are not necessarily needed. It can lead to organiza-tions being redefined and new opportunities created to add more value.

That said, it can also change the nature of work and workplace itself. Machines are already capable to carry out more of the tasks done by humans or complement the work we do. That means some occupations will definitely change, decline and others will grow. However, this innovation wave will likely increase labor-market and occupational disruption and will not lead to loss or shortage of jobs, reports ITIF. McKinsey adds: “Very few occupations will be automated in their entirety in the near or medium term. Rather, certain activities are more likely to be automated, requiring entire business processes to be transformed, and jobs performed by people to be redefined.”

Describing similar to the above, the term “programma-ble economy” was created by research firm Gartner Inc. in 2014 to be able to describe emerging technological changes occurring in today’s society. They define it as “a natively ‘smart’ economic system that supports and/or manages the production and consumption of goods and services, en-abling diverse scenarios of exchange of value proposed by individuals and smart machines (monetary and nonmonetary). The programmable economy is (and will be) enabled by dis-tributed computational resources and is believed to represent a massive transformation of global economic systems, industries and businesses.

Gartner further describes that this kind of economy will be powered by various technologies, among them being also gital currencies, distributed ledgers/blockchain, smart contracts, cryptography, AI and the IoT (internet of things) due the fact the current economy cannot keep up the pace of digital age. Gartner suggests the programmable economy will emerge over the next decade, and its adoption is “highly probable”. The most important fact being that in the upcoming years, the organizations will have to adjust their technology portfolios and product/service offering to keep up. The aspect of programmability can be extended in

“The great growling engine of change - technology.” Alvin Toffler

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the corporate structure, meaning that in the future, the corporations could be “more granular, more dynamic and untethered from human control, and that can be scary and have obvious problems including malware and viruses,” says Ray Valdes, VP & Gartner fellow. Blockchain and cryptocurrencies have also already been identified and included among 18 business trends that will continue to shape the organizations in 2018 and beyond by Inc., stating:

› Leading American technology companies such as Google, Facebook and Amazon are facing “techlash” around the world. Shackled by controversies around censor-ship, privacy issues and data loss, tech giants are facing significant headwinds in China, Germany and elsewhere.

› Immersive technologies explode onto the scene. 2018 will be the year that business-es deploy real-world applications of augmented reality, and, to a lesser extent virtual reality.

› IoT helps us make better decisions. According to Gartner there are already 8.4 billion “things”, and growing 30 percent every year. Companies are using IoT to accumulate data in real time.

› Cryptocurrencies are no longer a fad.

The general adoption of blockchain technology is still far into the future as many of its as-pects will have to be detaily explored and benefits proven. At this point, businesses are still at its early stage of adoption and experimentation. Even more, consumers may never be fully aware of how the technology is being used in applications. As chief evangelist at Circle stat-ed for business.com “Blockchain will operate in the background. Users may not even know they`re using it. But they`ll appreciate the benefits of it, such as privacy and fast payments.”

For business leaders, the true challenge lies in keeping eyes on horizon and recognizing opportunities to integrate the new technology, but most of all, in finding most useful prac-tical sense for their organization out of it. This should be their crucial focus in the years to follow as the research on the future labor recommends organizations to focus on helping workers make speedy and successful transitions but, most of all “embrace and support the next technology wave which is central to the process of increasing living standards because better “tools” allow economies to produce more and better products and services.”

CIOs need to prepare their organizations for “significant disruption, whether you believe the hypothesis we put out or not. There is going to be massive disruption based on the current economic models. Your business model is being disintermediated while you sit here,” adds analyst David Furlonger.

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Blockchain feasibility

Today, businesses require administrations, auditors and supervisors to manage and record their valuable databases. However, blockchain can distribute them through a network of computers, run on smart contracts and can dispense with all businesses that are based on trusted relationships. Instead of a trusted intermediary verifying transaction, the comput-ers within a shared (or trusted) network can perform the verifica-tion faster sooner and with little or no costs to those involved in the transaction.

Enterprise blockchain can therefore provide a venue where transac-tion data, value and state are inherently close to the business logic, and the security of the execution of business transactions is vali-dated by a secure community process. There are virtues of using a blockchain as a technology alternative that can conform to the regulatory platforms and at the same time, modernize the systems connected to finance and trade, and speed up securities and trade settlements at the same time.

After the hype, companies are now eagerly determining whether they should invest in block-chain by focusing on specific uses cases and their market position. An October 2017 sur-vey found that 24 percent of businesses are already looking into potential applications of the technology, while 16 percent of companies had purchased blockchain-enabled tools, according to Computerworld.uk. In other words, in the last year alone, over a hundred finan-cial institutions, more than two dozen governments, and countless corporations and ven-ture capitalists have invested more than $1 billion into blockchain startups and multiple governments have published reports on the potential implications on blockchain. In this aspect, Mckinsey identified six distinct categories of blockchain use cases addressing two major needs of blockchain feasibility: record keeping (storage of static information) and transactions (registry of tradeable information). Despite regulatory hurdles, blockchain has managed to withstand the pressures and now carries even bigger potential to impact a wide variety of industries, as mentioned in BRE report:

› The potential for better ‘track and trace’ of products throughout their life cycles, to give a clear picture of where they came from, who supplied them and who installed them.

› The evolution of distributed energy systems to support more localised energy cre-ation and use.

24 % of businesses are already looking into potential applications of blockchain, while 16 % had purchased blockchain-enabled tools.

“Once a new technology rolls over you, if you`re not part of the steam-roller, you`re part of the road.” Stewart Brand

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› The use of blockchain technology to help tackle modern slavery and human traffick-ing by creating more transparency in construction supply chains.

› Connected districts and cities with the Internet of Things – blockchain technology offers a distributed system of registers, all of which are connected through a secure validation mechanism.

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Blockchain as the new internet

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Internet vs. BlockchainThe Internet is perceived as the first-ever truly revolutionizing technology which has democ-ratized access to information in a manner unparalleled in history. But, globalized digital world has brought many severe issues as only a few corporations today have an enormous power and access to global user data, profiling people around the world from who they are to what

they do, determining their preferences and most importantly, using targeted technologies to make profit out of that information.

The immense benefit of blockchain technology mainly lies in its ability to offer a platform where any user, private company or institution can transact securely. That is why we perceive blockchain not as the new Internet but as the new technolog-ical backbone of what is to become a better internet, aimed is to substitute central authorities, unnecessary middlemen, and most importantly, introduce more and more peer-to-peer oriented services, allowing individuals and companies to ex-change different types of digital value freely, transparently and privately among themselves.

The applications of blockchain are almost endless, and many of them yet need to be dis-covered. But, in the aspect of managing personal information, blockchain is paving the way to work with a mode of sharing data and information that is not controlled by a central institution and as Ethereum founder Vitalik Buterin explains “solves the problem of data manipulation.”

Public vs. private blockchain

To further make sense for blockchain in business, it is necessary to understand the differ-ence between public and private blockchain ledgers. Namely, both are decentralized peer-to-peer networks, guaranteeing immutability of the stored digital value by maintaining rep-licas of shared transactions. However, public ledgers are completely open networks, thus

“Blockchain, or distributed ledger technology, could soon give rise to a new era of the Internet even more disruptive and transformative than the current one. Blockchain’s ability to generate unprecedented oppor-tunities to create and trade value in society will lead to a generational shift in the Internet’s evolution.” World Economic Forum

“Ethereum only has 13 or 14 transactions per second and that’s not suit-able for enterprise demand. Not everything has to occur on chain.”Lombardi, IBM

Blockchain is paving the way to work with a mode of sharing data and information not controlled by a central institution, thus solving the problem of data manipulation.

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accessible to all participants and operating with no central authority. This type of openness may present an obstacle to companies that wish to make only selected information pub-licly accessible and process the rest of their operations within a secure network accessible to trusted participants only. To continue, in public blockchains storage is very limited and represents a real issue for the needs of enterprises that re-quire multiple millions of transactions per day throughput. On the contrary, participation in private blockchain network requires an invitation, e. g. permission, which is regulated by a dedicated, trusted authority. Within a private blockchain, the members have to present their identity before being able to usedownload the protocol and use the proposed service. Their participation in such network demands that each participating entity receives its own digital identity (for example Nxxte-chID) which serves as a unique entry and a point-to-point exchange of information, created specifically for a world of many networks. Public blockchain provided cryptocurrencies to incentivize miners, meaning that tokens in private blockchains are not required. But, they may be used to represent an asset on a block-chain and can be transferred among users in case the company opts for them.

Participation in private blockchain demands each participants receives its own digital identity, serving as a unique entry and a point-to-point exchange of information.

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PUBLIC BLOCKCHAIN PRIVATE BLOCKCHAIN

Who can run it? Anyone Only the designated nodes

Who can write to it (add data)?

Anyone Only the designated nodes, or the designat-ed nodes and group of users designated by such nodes

Who can read it? Anyone Only the designated nodes, or the designat-ed nodes and group of users designated by such nodes

Where are the data stored? Massively distributed around the world

Distributed among the designated nodes

Pros No one can control it; No one can shut it down; Can hardly be reverted; Transparency; Creates marketplaces

Easy to implement; Easy to maintain; No scalability issues; Additional security; Can be hidden; No need to use cryptocurrency; Lower service costs; More eco-friendly

Cons Hard to scale; Hard to maintain; Consensus mechanism is currently very polluting; Any trans-action costs money

Not useful against censorship

Application fields Services between par-ticulars; Anonymous services; Censor-ship-resistant services

Mostly business-to-business services

Source: https://www.goodrebels.com/dapps-platforms-private-blockchain-frameworks/

The permissioned network holds the seeds of change across industries and various use cas-es have been identified, especially beneficiary among business partners with cross-border transactions or supply chains, or between companies to transact between various divisions or units. The usage may also be applied to customers trading loyalty points and of course, to financial systems and banks to manage digital assets. Private blockchain can bring most value when complex things need to be tracked, where audit trail is required and transactions involve countable resources.

› The identity of each participant is known and controlled by a dedicated authority

› The data is read/written based on a role determined by consensus

› Tokens (instead of cryptocurrency) may or may not be used

› Possible integration to existing systems

› Managed by an organization or a consortium

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Personal identities on blockchain

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Digital identity today

In the current era of the internet, users have many connected devices, belonging to different manufacturers and are creating numerous digital identities to be able to use them. Their retention is not only a challenge, but a real security hole exploited by high-profile security hackers. This also means an individual`s digital identity and their digital footprint is fluid and changing.

According to IBM, 90% of personal data has been created in last two years alone, meaning the exponential growth of tech-nology influences the amount of personal information creat-ed, and shared with numerous companies, dispersed across the globe. The research Digital Identity: the current state of affairs recognizes that “The economy and society evolve very fast towards a world where interactions are mainly digital, and we have just started to see what a fully digital economy might look like: the revolution lies in the possibility for individu-als to establish communications with remote computer systems which are able to take into account who they are in order to deliver information and services in a personalised way, in a global world that transcends national borders.”

“Traditionally, our identity systems have been based on physical interactions and docu-ments. The capacity to prove that you are who you say you are is a fundamental component of economic, financial and social development,” they continue, meaning it is our identity giving us access to a number of services (including healthcare, education, finance etc.) in the society. And today, the majority of the services still rely on physical identity, even though we are heavily shifting on digitizing them. This applies to more and more processes, where the identification of individuals is key to personalizing the experience and providing quality services.

At the same time, an important issue of data ownership arises, since the businesses have exploited personal data without user’s consent. The rules have become even more strict with the new GDPR regulation, con-firming us there is a need for individuals to know and agree for what purposes their data are used and even to receive some-thing in exchange for their personal information, as their val-ue is becoming crucial for businesses to survive. “We’ll have to construct a more digital notion of identity, where different attributes are used in different circumstances,” concludes Da-vid Birch, director of Consult Hyperion.

“The sharing of personal data in a private, controlled, secure and con-venient way is critical for the future of digital identity, with respect to which the user must be the owner of his personal information.”Thomas J.

90 % of personal data has been created in last two years alone.

The majority of services still rely on physical identity. Even in digital age, identification of individuals remains key to personalization.

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Digital identity on blockchainNone of the approaches we use today brings satisfactory re-sults and it doesn’t solve the issue of identity on all the dif-ferent devices an individual uses. However, with blockchain it is possible to safeguard user`s personal identity and regain privacy by introducing self-sovereign. In other words, block-chain is enabling users to manage and validate information tied to their identity without the need for a centralized repository. Using a digital wallet app (for example Nxxtech_ID) a user will be able to temporarily grant access to those chunks of their personal information they choose to share; whereas in the future, the exchange of such information to brands will most likely also be monetized, bringing benefits not only to the organizations but also to persons who will chose to share their data in exchange for a certain added value.

Blockchain safeguards personal data by introducing self-sovereign.

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Things on blockchain

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Things todayThe term internet of things (IoT) describes next-generation technology, including virtually any machine that operates and can be connected to the Internet, such as devices, gadgets, wearables and systems which are consequently becoming smarter, more connected and autonomous. IoT is growing fast and there are several predictions connected to the way the industry will expand in future years. Gartner assumed there would be 25 billion connected devices by 2020, whereas Cisco proposed the number would be closer to 50 billion.

The growing number of devices gives rise to several questions that the IoT industry needs to address in order to remain competitive and to ensure the devices from different manu-facturers will be able to communicate on different levels and among themselves. Similar challenge as with the personal identities on the internet is therefore also present between the rising number of connected things, which need to be able to present/identify themselves within the network in order to communicate and execute orders.

This also brings a related issue of how the IoT devices can be maintained. Namely, the common model of today requires devices to be clients that rely on the manufacturer`s cloud-based servers to function, meaning they don`t communicate directly peer-to-peer. And, these devices have and use data transfer that can soon expand to fill all of their capacity, meaning they represent an increasing stress on the network.

Consequently, the IoT devices are increasingly vulnerable to attacks, bringing many privacy

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and security issues and companies struggle to identify and prevent more and more severe cyber attacks to protect their sensitive data. According to 2018 Secure Alliance Report: “High-pro-file cases from hacking of IoT devices have already been reported. In July 2015, Fiat Chrysler announced a voluntary recall of 1.4 million vehicles to fix security issues after two security researchers hacked into a Jeep. They were able to interfere with the vehicle’s entertainment system, engine, and brakes while it was being driven on the highway, miles away from the hackers. While this received media attention due to a direct and potential deadly impact to consumers, there have been other incidents that have not received as much mainstream press. In 2014, Germany’s Federal Office for Information Security (BSI) issued a report that a steel plant had suffered “massive” damage due to the digital manipulation and disruption of control systems to such a degree that a blast furnace could not be properly shut down. The attackers gained access to the steel mill through the plant’s business network using a spear-phishing attack.”

There are several security threats the vulnerability of IoT devices can cause to organizations and answers for rising issue of identity theft, end-devices security, automated updates and multi-layer data management urge to be resolved. Gartner confirms these issues are present and already over 20% have digital security services devoted to protecting business initiatives within IoT.

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Things on blockchain All the above makes IoT market fragmented, with many standards and vendors not being able to find a unified, one-fits-all solution. On the contrary, blockchain can be a key enabler to solve many of described IoT security issues, bringing:

› Automated remote control: manage remote automated control of systems through smart contracts and help securing IoT applications by enabling the devices to com-municate directly peer to peer, allowing from viewing maintenance data to rerouting power

› Security: validate the identity of each device and keep the transactions and commu-nication between them secure

› Compliance: record all transactions to meet compliance and regulatory require-ments in distributed manner

› Trade / Ownership: transaction-by-transaction assurance to trade any asset (re-sponsibility for maintenance, upgrades, data ownership, warranty, insurance etc.)

› Monetization: development of new economic platform and monetary operating model to monetize “things”

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Proof of concept on blockchain

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“Internet has already allowed for a faster, less stilted exchange of goods and services. But it still needs intermediaries, however efficient they may be — think eBay, Airbnb, and Uber. Those intermediaries are costly and earn rents for processing payments, maintaining a reputation sys-tem, matching demand and supply. This is where blockchain technolo-gy, combined with a crypto token, allows you to rethink an entire value chain from the ground up. That’s where incumbents should be slightly worried, because in the long run the way you may be delivering value to your customers and competing against other companies could be fun-damentally different.” Christian Catalini, MIT

Steps towards Proof of Concept

A recent Gartner study revealed that 66% of CIOs and IT leaders believe blockchain has the disruptive power and will change economies and industries on a global scale. However, the blockchain technology is in many aspects extremely new and many businesses find it quite challenging to identify a good use case that would motivate them to commence a Proof of Concept initiative within their organization. Nxxtech modular architecture assist you with several questions that rise from developing a distributed network system and helps to re-move friction and barriers discovered during the process.

Also, different business cases have different requirements. To protect your organization’s interests, we aim to help you by setting the vision, putting the strategy in motion and building a Proof of Concept on a private ledger, which allows you to manage access around the shared information anyway that suits you best. In this aspect, defining the actual issues in your current operational pro-cesses and understanding your target customer is crucial in deploying the right blockchain solution. Only from that point on a Proof of Concept can help you understand and evaluate the practical potential blockchain carries for your organization and project`s commercial ap-plication. For this purpose, Proof of Concept can either be a prototype without any support-ing code or a MVP (Minimum Viable Product) which can help you understand a particular solution in detail.

66% of CIOs & IT leaders believe blockchain has the disruptive power.

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Nxxtech modular blockchain architecture

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AboutNxxtech is a full stack proprietary blockchain architecture based on Ethereum protocol, aimed at enterprises, ready to extract business value from decentralized technologies. It was designed as a means to empower organizations with a modular, flexible and powerful solu-tion to help them develop and easily deploy custom distrib-uted blockchain applications. That way, Nxxtech enables any enterprise edge-to-edge operations with performance built-in, along increasing the security, overall efficiency of business processes, improved data management, better turnaround time and increased trust factor amongst the stakeholders.

BenefitsNxxtech blockchain architecture has the potential to simplify business operations for all parties involved. It allows your organization an open, transparent and secure way of handling edge-to-edge entities, tracking their activity and managing inventory in a selectively acces-sible ecosystem. The modular blockchain architecture enables tamper-resistant recording and privately-enabled communication, making it the ideal platform for any large handlings and collection of sensitive data. It also solves the issue of scalability by incorporating the IPFS system, a distributed file system that operates outside of blockchain layer but commu-nicates with it. This enables the users to store and retrieve data, all without burdening the mainchain itself.

Underlying technology Nxxtech offers a modular blockchain architecture, enabling customizable modules and private chain operability. The solu-tion has a two-part design, based on blockchain network and distributed storage, allowing any organization to take maxi-mum advantage of its most versatile modules.

Nxxtech enables users to store and retrieve data, without burdening the mainchain itself.

Nxxtech has a two part design, based on blockchain network and distributed storage.

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ClientNxxtech blockchain architecture runs on top of the Go-Ethereum client (commonly referred to as geth), representing the main entry point into the Ethereum network. This is the com-mand line interface for running a full Ethereum node implemented in Go. We have upgraded the Go-Ethereum client with several novelties to make Nxxtech blockchain architecture the best fit for companies, taking into an account both, financial and practical aspects of its implementation.

Nxxtech permissioned ledgerEthereum protocol is an open-source public, permissionless blockchain, meaning that ev-eryone can download the Ethereum client and participate in transaction validation. It allows the development of next-generation decentralized application or as Buterin, its founder de-scribes: “Ethereum uses many of the same systems (such as blockchains and peer-to-peer networking) in order to generate a shared-world computing platform that can flexibly but securely run any application users want to code.”

To make it more appealing to businesses, we have modified Ethereum main chain to build a permissioned ledger. It consists of authorized active and passive nodes, meaning it allows only a selected entry of verified participants. Active nodes accept, verify and confirm transactions, which are appended to the ledger if verified. Passive nodes are optional; if present, they accept, verify and forward valid transactions to the active nodes.

In addition, we have extended the ledger`s functional-ity with tasks i.e. special transactions that are only val-idated (but not stored in the ledger) and executed on dedicated computer nodes. Task can contain any arbitrary command or message that user wants for nodes to perform (e.g. save additional data to distributed storage). Unlike ordinary Ethereum transactions which can use only limited computing power, according to gas consumption, tasks are generally not bound-ed. Moreover, command that is communicated via task is not included in ledger and there-fore does not burder blockchain itself. Although it might seem that nodes can be abused via tasks, we prevent malicious behaviour firstly, by limiting which commands can be executed (an unknown task is simply ignored) and secondly, by simultaneous use of blockchain and tasks, where former is used to check if some address (task sender) is allowed to request certain execution.

That way, Nxxtech permissioned ledger brings you:

› Immutability: tampering with data is virtually impossible

› Security: permissioned access, control over which data are public and/or private

› Speed: designed to process requests immediately

Nxxtech modified Ethereum main chain to build a permissioned ledger, consisting of authorized active and passive nodes.

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› Modularity: tailor your sidechain depending on your needs

› Efficiency: easy and fast switchover with immediate benefits

› Zero transaction fees

› Interoperability: Compatible with other systems

› EU GDPR compliance: users control over who and why can access their private data

› Decentralization: No single point of failure, no data breach

› Fail-to-stop security mechanism

Data storage layerJust like conventional apps, most decentralized apps need to store and retrieve data; how-ever, blockchain is not appropriate for data storage. For that, we have developed a solution that can store and handle data externally, on IPFS (Inter Planetary File System), from where it can be fetched anytime by using smart contracts. When we talk about distributed storage, certain specific terms are being used:

› Node: a device (computer, server etc.) connected to IPFS network which actively stores and shares data

› Provided storage: the maximum capacity a node can give for data storage, includ-ing its own data and, potentially, the data from other nodes

› Replication factor (RPF): a number which determines how many times an object (file) should be replicated over the network

› Storage requirement (SR): total amount of space that a node occupies with its files over an entire network

› IPFS: peer-to-peer protocol for data management and storage

IPFSIPFS is a new peer-to-peer hypermedia protocol that aims to substitute the HTTP (hyper-text transfer protocol) that rules the web. On the internet we all know (and use) today, the browsers have to be directly connected to the computers which are serving the specific web-site. For that, data providers get charged because each network has a peering agreement, while each network hop costs money to the data provider and wastes bandwidth. Even more, HTTP protocol downloads a file from a single computer at a time, instead of getting pieces from multiple computers simultaneously. In contrary, IPFS is similar in nature to bittorent and can take, manage and store files and then track their versions over time. In that way, it has

IPFS is a peer-to-peer protocol aiming to replace HTTP by only storing the object`s hash.

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the possibility to complement, or even completely replace HTTP.

Nxxtech data storage layer is IPFS based, meaning instead of referring to objects by which server they are stored, we only store the hash which we can then use to retrieve the data. The storage architecture can function as a standalone solution or it can be integrated with blockchain. That way, it can adapt to problem specific characteristic as its hash string size is independent of the data size, meaning that even large data can be easily stored without transaction fees. To fully utilize the advantages of distributed storage, we`ve expanded IPFS with several additional functionalities, such as data encryption and access management, providing data resilience to corporations by ensuring data redundancy and eliminating one point of failure.

OracleEthereum blockchain has a built-in programming language, executed on the Ethereum vir-tual machine (EVM) which does not have the access to external data. That means it is not possible to directly read/write data from or to IPFS storage layer. We`ve circumvented the issue by creating and additional service i.e. oracle, which either inserts data from IPFS into EVM or vice versa. In order to validate the blocks, all nodes must have access to the same external data. This can only be established if the oracle acts as an external service. One could argue this creates a new “single point of failure”, since inaccessibility of the oracle or it being compromised can lead to incorrect or potentially malicious data. The latter can be solved if each node can also take on the function of an oracle at the same time. This might, at first glance, seem a bit problematic, since each node cannot always have all the data stored on IPFS. However, we do not see this as a constraint, since each node can always retrieve all data it need from the IPFS. This naturally have to be transmitted over the regular existing network. In this case, a slow connection may be a limiting problem, but on the other hand, already the nature of the IPFS diminish this problem (files are divided into small pieces and can be fetched from several peers simultaneously). In any case, this meth-od of pushing data to contract is better than (or at least the same as) when a single oracle would be used to provide data.

Write/store dataThe need for distributed storage can emerge from various reasons, and each of them requires a slightly different approach, as described be-low. In this aspect, IPFS can act as a standalone data storage layer or as a data storage that di-rectly interacts with the permissioned ledger.

IPFS can act as a standalone data storage layer os as a data storage that directly interacts with the permissioned ledger.

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IPFS as a standalone data storage layerThe distributed storage can be used as a standalone data storage for the purpose of service providing, surveillance and/or remote file storing. In this case, blockchain and smart con-tracts serve as intermediary to dictate which device stores what and determine who has the access to data.

Fully deterministic system (e.g. for surveillance)In such case, the devices, connected to the network, are usually very similar when it comes to storage they need and the one they provide. The replication factor (RPF) for all files and all nodes is the same, but not fixed, meaning it can change (increase/decrease) over time. Similar as with RPF, the frequency of producing new data and distributing it over network is the same for all participants, and it can be altered if necessary. Each node in such network knows which node to supervise. After every download, the node checks if the supervised node is online and if it has produced any new data. If there are new data, the node downloads it and logs the change; otherwise it starts a procedure in which it checks the supervised node and detects if failure is temporary or permanent. In the case of latter, the node notifies the network about the failure so the other participants can reorganize the surveillance scheme and whoever is responsible for the failed device to fix or replace it. Semi deterministic system (e.g. for service providing)In this type of system, we operate with a group of nodes that store and provide the data, and a group of end-point users who provide/generate the data to the IPFS storage and for other interested parties. The nodes typically don’t store their own data, but only the data the end-users upload. The system is both: deterministic, in a way that we know all the nodes which run IPFS, and indeterministic, in a way that we do not know the number of users and the amount of data they wish to store. We also cannot know in advance if the other interested parties will want to acquire such data. To prevent data breaches, data itself is cryptographically protected, while smart contracts used to ensure no third party can access it without beforehand confirmation.

Open system (e.g. social storage sharing)This is the most general and widely used approach in which anyone can join IPFS net-work and store the data remotely, as long as they provide adequate amount of storage in return. The system can be used for any type of data and files, whereas each user can request how many times they want their files to be replicated and for how long. Neverthe-less, due the fact the system is open to all, when programming a solution, several security issues have to be taken into an account. Firstly, we cannot assess the quality of each node, meaning there is a possibility that it goes offline and makes the data inaccessible to others. Secondly, the provided storage can vary across nodes, and small nodes can fill up much faster than bigger ones. Storage requirement can also vary tremendously due the fact that different users can upload different data files.

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To tackle all three issues at the same time, we propose a new concept e. g. social storage sharing and allocator nodes. Social sharing means that the node must provide the same amount of storage as it occupies. In this aspect, allocator nodes decide which node stores what and for how long by searching and activating the least occupied ones. Allocator nodes also run a distributed database, carrying the information about nodes` storage and monitor the health of the entire network. Whenever a new request to store data is announced to the network, one of the allocator nodes calculates the requestor’s storage statistics and either allows or decline the request. Today, an additional remote storage can be obtained by in-creasing local storage on a node or by obtaining a parent node. In the future, we propose a paying scheme to provide additional solution for this matter. Nevertheless, the device that produce data and wish to store it but have very limited space themselves can also actively participate in IPFS network if they can provide a parent node that takes over their storage providing obligations.

IPFS as a blockchain utilized data storage layerIn this case, is a direct interconnection between blockchain and distributed storage. Smart contracts can use data from distributed storage directly. This enables us to create a light-weighted smart contract and offload massive data to distributed storage. To use the data from IPFS, the smart contract has to issue an event in which it specifies which data are needed and waits for the response of the oracle. The oracle monitors events on the ledger and can therefore immediately locate IPFS information when such an event occurs. When the smart contract receives the data, it continues the execution of the code. For this purpose, the smart contract must also contain the function that allows it to receive the data.

› Direct storage: if it is assumed the data will not be directly used with smart con-tracts, we can store it directly on IPFS without having to record it on the blockchain. In this case, the device must make sure to record IPFS hash.

› Oracle: if the data will interact with smart contracts, it is recommended to use the oracle which ensures the data is stored on IPFS and the reference to this location is safely and permanently stored in a dedicated smart contract.

› Event: If the data is the output of the execution of the smart contract, the contract has to issue an event to specify its content. Afterwards, the oracle reads it,records the data on IPFS and write its location in a dedicated contract.

Proof of Authority (PoA)At the heart of every distributed system lies a consensus protocol that agrees to the order of new transactions in the block and represents a binding agreement between the validat-ing nodes. Nxxtech uses Proof of Authority (PoA) consensus protocol in which only autho-rized nodes participate. In that process, users voluntarily disclose their identity in exchange for the right to validate. Among authorized nodes, the authority nodes are chosen which have the ability to limit user permissions, enable time-limiting and, in the future, read/write

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access. To prevent infinite loops or spams, the authorities also set the amount of gas, e. g. an internal quantity to measure computational cost of a transaction or contract call. Each user is given a finite amount of gas to spend on a daily basis. The authority can also automatically reset the given amount on a daily/weekly/monthly basis. For that, PoA is more secure and energy efficient than proof of work (PoW), ensuring high speed and network scalability, achieving short-block times (under 50ms).

CryptographyWhen users upload data to IPFS, they change their original form due to the process of “shard-ing” in which the files are divided into smaller parts, called shards. Each shard is held on a separate database node. The original file is not directly accessible in file explorer on host, nevertheless it can still be reconstructed to its original form. But, this also means that ev-eryone that hosts your data is able to read it, which is in the majority of cases undesired. We prevent this by encrypting the data before uploading it to IPFS. To do so, we use ECIES program (Elliptic Curve Integrated Encryption Scheme) which en-crypts the data with one-time Ethereum public-private key pairs. This way we ensure that only the person/device eligible to read the data will actually be able to access it. With this solution, there is no need for an additional key pair, since existing Ethereum key pair fits the requirements of cryptographic communication as all who know the public keypair can safely encrypt the data with you and send you the data location. The solution allows us to extend the sharing data scheme among multiple users. In this case, any interested party has to firstly request for data. If the customer agrees with their request, the sharing order is confirmed via smart contract which issues that the data gets decrypted and then encrypted with other party`s public key. That way a new, temporary con-tainer is created, which is accessible only by the party that requested the data in the first place. In this aspect, our customer can also specify for how long they will be able to access the shared data.

IPFS can act as a standalone data storage layer os as a data storage that directly interacts with the permissioned ledger.

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Nxxtech modules

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There are a number of aspects that need to be taken into account before panning out indus-try-specialized blockchain solution. When designing Nxxtech enterprise-ready blockchain ar-chitecture, we have taken into account all aspects and prepared various modules that facil-itate easy integration and allow our clients to choose the stack that best reflect their needs.

IoTIoT is a network of interrelated devices accessed through the internet, al-lowing their data collection, remote monitoring and control. By using Nxx-tech to authenticate, authorize and gather data generated by devices, this technology enables the transformation of IoT into a network of intercon-nected devices which can interact without human intervention. By cre-ating a two-way communications layer, devices can exchange messages directly on blockchain, meaning all communication happens in real time, directly machine to machine, with no intermediary. This way, the risk of internet devices, applications and platforms being compromised is signifi-cantly reduced.

Digital identityBlockchain solves the issue of digital identity management by giving users more control over their personal information and businesses less worry about managing it. At its core, the solution allows people to have control over their personal data management when identifying anywhere online. Nxxtech combines decentralized blockchain principle and distributed stor-age with identity verification (KYC), allowing users to assign permissions for who and when can access their digital identity data.

Data storageAcross business lines, all connected devices require management, stor-age and retrieval of enormous amount of data. Today, corporations rely on the dedicated server infrastructure and cloud solutions, which leads to a worrying combination of commercial dependency on enormous volumes of data being centralized. Decentralized storage works by distributing and encrypting data across a network of nodes, making it safer, immutable and protected, promising fundamental change in how businesses can protect their most valuable data and optimize their running costs.

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Smart contractsSmart contract is a term describing software on blockchain that stores contract terms in digital format between two or more parties. By contain-ing a set of predefined rules, smart contract is a self-executing immutable code that can automatically enforce when certain conditions are met. It has the ability to “cut off” the middlemen and replace standardized pro-cesses that burden the administration costs of organizations. We provide the framework for developing custom smart contracts, their integration with existing software and an audit service for your proprietary codes.

dAppsdApps represent a form of application framework, helping end-users to easily interact with smart contracts. They operate autonomously with data cryptographically stored in blockchain and can remodel the backend struc-ture of various digital products, services and platforms. Today, the majority of dApps run on Ethereum mainchain, meaning they are directly compet-ing with other dApps and financial transactions for resources. In contrast, running dApps on Nxxtech blockchain architecture brings many advantag-es to business logic, as the code and data on permissioned ledger are completely independent and the parameters highly customizable, opening enterprises the opportunity for highly-scalable non-fee market operations.

TokenomicsTokenomics is a new skill, required to create the token ecosystem in which the token usage, together with your token supply and demand are defined. We help you design, generate and manage a custom-build token that will drive your business endeavors and allow to easy share and exchange val-ue. Residing on top of Nxxtech blockchain architecture, your custom enter-prise token can represent basically any assets that are fungible and trade-able. Optional integration of existing payment gateways is also possible.

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Nxxtech ID

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Data is perceived as the most valuable asset in today’s world. For that reason, we are taking a new approach to digital identity. NxxtechID represent a form of self-sovereign on blockchain, giving individuals and businesses a greater control over the personal information they ex-change when interacting online. Digital identity is the core of every interaction, transaction and communication online. Nxxte-chID is a digital wallet and simply put, a digital equivalent of a safe place each uses to store their sensitive documents today. It provides users with a mechanism to securely store their personal data and manage their access when signing up across services. The dApp handles user`s on-boarding and manages their sign up. As data handling is heavily regulated, Nxx-techID also enables collaboration between businesses and individuals, preventing potential data leakage and unintended use of data. Below are the steps towards creating one`s digital identity. Keep in mind the user can have multiple identities, used for personal and business matters alike.

› Step 1: User installs NxxtechID to their smartphone

› Step 2: User enters their personal details (KYC document, telephone number, e-mail)

› Step 3: User generates a unique pair of digital keys, representing their digitally signed attestation

› Step 4: User interacts with third parties by selecting parts of personal data or signs up important documents by generating unique QR code

At the moment, NxxtechID is available only to selected audiences and partnering businesses with the intention to offer the Android and IoS app to public use by October 2018. Using Nxx-techID means taking first step towards truly owning personal identity and managing personal data. Each user only needs to set up the NxxtechID once. Afterwards, all data and documents remain safely stored and protected on blockchain.

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Dictionary Blockchain or distributed ledger, is a technology comprised of unchangeable consecutive blocks of data that are exchanged directly between users within a network without the need for intermediaries. It is distinguished by its high security and transparency while secured by strong cryptography.

Block is the record of information about new changes in blockchain. Once each block is completed, it is added to the chain, creating a blockchain. Blocks are linked to each other in linear, chronological order with every block containing a hash of the previous one.

Genesis block is the first block of a blockchain. It is usually hardcoded into the software of the applications that utilize its blockchain.

Mainchain is the longest series of blocks starting from the genesis block to the current block.

Sidechain is a separate blockchain attached to its parent blockchain using a two-way peg. A sidechain is defined for one specific use case. In case of various tasks, there can be multiple side chains where various tasks are distributed accordingly in order to improve the efficiency of processing.

Block ciphers is a method in which the text is encrypted to produce ciphertext. Algorithm and cryptographic key in the text are applied to a block of data at once as a group instead of one bit at a time.

Block height is a number of connected blocks that compose a certain blockchain. In that case genesis block is height 0.

Confirmation is an update of new transactions that are recorded and verified in the newest block in the block-chain.

Consensus is a process used to achieve an agreement among distributed processes or systems on a set of rules. Consensus algorithms are used to achieve reliability in a network involving multiple unreliable nodes.

Cryptocurrency is a decentralized digital asset that is unchangeable without realization of specific conditions. It is used to secure financial transactions, control the creation of additional units and verify the transfer of assets.

A cipher is an algorithm used in cryptography for performing encryption and decryption. Term can also be used as a synonym for code because both terms define a set of steps that encrypt a message.

Decentralization in terms of blockchain means that it doesn’t rely on a central point of control. That kind of system is considered fairer and more secure because of lack of a single authority. Vitalik Buterin categorizes decentralization further on, into architectural, logical and political decentralization.

DApp or decentralized application is an application that is not controlled by any single entity because it runs on a peer-to-peer network of computers instead of running on one single computer. Most recognizable dApps are BitTorrent, Popcorn Time, Bit Message and Tor browser.

DAO or decentralized autonomous organization is a form of organization managed through rules econded in smart contracts and run on blockchain. That way of operating eliminates mutually accepted trusted third party in financial transactions. DAO is a step towards programmable economy with an aim to eliminate intermediaries and formal management structures as we know today.

Distributed ledger is a database form that uses independent computers (nodes) to record, share and synchronize transactions in their respective electronic ledgers. It is maintained and decentralized from across different loca-tions and people instead of keeping data centralized as in a traditional ledger.

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Encryption is a data security method of transforming the information into encoded version that is unreadable for unauthorized users. It protects sensitive data like credit card numbers and allows secure data transmission through network.

ERC20 is a protocol that defines a common list of commands that should be implemented in the creation of Ethereum-based tokens. It allows developers of all types to accurately predict how the newly created tokens will function within the larger Ethereum system.

Edge computing is a distributed, open IT architecture where data is processed by the device itself or by a local computer or server, rather than being transmitted to a data center. The term covers various networking technol-ogies including peer-to-peer networking or ad hoc networking.

Fork is a split in a single blockchain caused by a split in consensus or change in protocol rules. The network continues to build blocks on one (or both) of the forks. Longer forks are always identified as the correct ones, so network abandons the shorter one.

Gas is defined as a unit of measuring the computational work of running transactions or smart contracts in the Ethereum network, similar to the use of kilowatts (kW) for measuring electricity in households. Gas price is pro-portional to the computing resources consumed by the contract.

General ledger is a formal ledger for organizations financial history and provides complete record of company’s financial transactions.

Geth is the command line interface that runs a full Ethereum node implemented in Go.

Go or Golang is Google’s free and open source programming language created in 2009.

Hardfork occurs because of the change in protocol rules. In case of hardfork, software update is not compatible with previous versions. Participants have to upgrade to the new software if they want to continue with participa-tion and validation of new transactions.

Hash is an essential function for blockchain management and validation process in cryptocurrency. It converts an input of letters and numbers into an encrypted output of a fixed length.

IoT or Internet of Things is a concept of connecting devices to the Internet and/or to each other. Devices are equipped with unique identifiers and ability to transfer data over a network without the need for human interac-tion.

Initial Coin Offering (ICO) is a form of crowdfunding used by projects based on blockchain technology. Investors are offered units of new cryptocurrency in exchange for FIAT or cryptocurrencies like Bitcoin or Ethereum.

IPFS or Interplanetary File System is a peer-to-peer file-sharing protocol in which each node in IPFS stores a collection of hashed files. This is an open-source project created by Protocol labs, R&D lab for network protocols and former Y Combinator startup.

A ledger is a group of similar accounts that records financial information of organisation. In computerized sys-tem ledger is a collection of interlinked digital files that are not necessary of financial nature.

Mining is a process that validates new transactions and records them on the global ledger or blockchain. Min-ers are competing in solving complex mathematical problems based on cryptographic hash algorithm and are rewarded for their effort.

PoA or Proof of Authority is an algorithm used in blockchain in which consensus is achieved by referring to a list of validators (considered authorities when they are linked to physical entities).

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PoC or Proof of Concept (also Proof of Principle) is a demonstration of a certain method or idea with a goal to confirm there is a practical potential in it.

PoW or Proof of Work is an algorithm which records and verifies information through solving a mathematical problem. First computer to solve the problem is rewarded with cryptocurrency.

PoS or Proof of Stake is an algorithm used in blockchain to validate transactions and achieve distributed consen-sus. With Proof of Stake, miners do not receive block rewards and the creator of a new block is chosen based on his wealth (stake).

PoV or Proof of Value proves that a certain method or solution will work for specific customer and his specific needs. While proof of concept shows that certain method or concept works in general, proof of value shows specific use for the specific customer.

Sharding in blockchain is a name for process in which the whole state of network is split into partitions (shards). Nodes process transactions only for certain shards allowing the throughput of transactions processed in total across all shards to be much higher than having a single shard do all the work.

Smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written code. Smart contracts permit trusted transactions and agreements to be carried out among anonymous parties without the need for a central authority.

Soft fork is a name for the change in protocol rules where old nodes recognize the new blocks as valid. For that, soft fork is backward compatible and requires only a majority of users to upgrade for new rules to be enforced.

Token represents a certain fungible and tradeable asset or utility that is usually on top of another blockchain.

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