Principle and design goals

Technology implementation

Consensus mechanism

How does the technical core of block chain reach a distributed consensus?And how can each node agree on all the transactions in the network? These consensuses include elements such as the content, validity and time sequence of the transaction. BHP power chain achieves a distributed consensus on the content and effectiveness of transactions through digital signatures. Due to the high network delay in P2P networks, the order of transactions received by each node may be inconsistent. Therefore, the block chain system needs to design a mechanism to recognize the order of transactions occurring in a certain time. This algorithm of consensus on the order of transactions in a time window is called "consensus mechanism".

The consensus mechanism of BHP no longer adopts the traditional proof of work mechanism (PoW), but proposes a new consensus mechanism PoP based on hash power. And with the combination of PoS (Proof of Stake) which suits the future developing trending, BHP has introduced the PoP(Proof of Power)+ PoS hybrid consensus mechanism. Continuous hash power is a key component of BHP's infrastructure. The BHPC issued by BHP has the respective hash power, which applies PoW mechanism to complete the bottom mining work and obtain Bitcoin, Ethereum, or other valuable main stream digital currency. The code library designed specifically for BHPC transactions relies on the PoP mechanism to ensure high efficiency and low cost in transaction. Especially with the increasing flow of cross-border transactions, this mode will be particularly suitable for cross-border payments cenarios. 

The BHP consensus mechanism uses Delegated Byzantine Fault Tolerance(DBFT). 

 

Accounts and transactions

 User of BHP will register personal BHP account automatically during ICO. The tokens (BHPC) will enter those corresponding accounts. BHPC stored in personal BHP account of user will receive some interest regularly, the interest flows into personal account in BHPC format. The user will not get interest if he or she saves BHPC in some other addresses or exchange platforms other than his or her BHP account. 

Remittance Transactions
By building exchange websites and APPs, BHPC holders can quickly exchange and circulate BHPC with various mainstream digital currencies such as Bitcoin, Ethereum, etc. In the future, the BHP will first open the service of exchange between BHPC and various kinds of legal money if possible. Besides, the BHPC holders at BHP will enjoy a service fee discount on the operations such as recharging, transferring and making transaction. 

Smart contract system

The smart contract was first proposed by the cryptographer Nick Szaboin 1994. Smart contract is a computer protocol that aims to propagate, verify or execute contracts through information technology. Smart contract allows for credible transactions without third parties, which can be tracked and irreversible. BHP has an independent smart contract system: Bhp Contract. BHP smart contract runs in BhpVM with high certainty, high concurrency and high scalability. According to the design target of BHP hash power chain, the smart contract of Bhp Contract mainly includes deposit interest contract, credit mortgage contract, commercial payment contract, transfer contract, asset investment contract and so on. The future BHP computing chain will support users in developing smart contracts.

Cryptography

Distributed storage protocol

Cross-chain and exchange technology

BHP is a distributed asset management system based on multiside chain association. Using the architecture of “main chain + high performance multi side chain”, the exchange of multi assets is efficiently realized. BHP implements cross chain interoperability protocol including two parts: “cross chain Asset Exchange Protocol”and“cross chain Distributed Transaction Protocol”. 

Multi Chain Atomic Asset Exchange Protocol 

BHP has been extended on existing double-stranded atomic assets exchange protocols to allow multiple participants to exchange assets across different chains and to ensure that all steps in the entire transaction process succeed or fail together. In order to achieve this function, we need to use smart contract function to create a contract account for each participant. It can cross two completely independent block chains to realize the exchange of them. Multi Chain atomic asset exchange protocol does not increase the complex communication mechanism between chain and chain, but it can guarantee that this kind of exchange is atomic and credible, and there will be no transfer of ownership but no transfer of the creditor's right.

 A Cross Chain Distributed Transaction Protocol 

Cross-chain distributed transactions mean that multiple steps of a transaction are scattered across different block chains and that the consistency of the entire transaction is ensured. This is an extension of cross-chain assets exchange, extending the behavior of assets exchange into arbitrary behavior. BHP will use a cross-chain smart contract, a smart contract can perform different parts on multiple chains,either succeeding or reverting as a whole.

Special technology

Economic model and incentive

BHPC is a kind of digital currency which takes the main digital currency such as Bitcoin and Ethereum as the endorsement of acceptance credit. The total amount of BHPC is 100 million, and the smallest unit is 0.00000001. BHP is a deployed public chain,anyone can use this public chain. BHP will also charge the transaction of assets and the operation of smart contracts in the public chain. At present, the whole network transaction fee is 1/10000, or 0.01%, and the transaction fee is paid by BHPC. The transaction fee charged by the system will be returned to the user in accordance with the income distribution mechanism, so as to realize the economic reward to the bookkeeper and prevent the abuse of resources.

Governance mechanism

Special statement: In order to protect the interests of all investors and the healthy growth of the team, and to ensure that the BHP hash power chain is always developed on a main chain,The BHP team does not permit or recognize any form of bifurcation of the main chain. BHP welcomes and hopes that more users will join the BHP hash power chain community, use the various services provided by the BHP hash power chain, and participate in community building. In order to better maintain the community,the BHP hash power chain will adjust and introduce new community governance mechanisms and governance methods according to actual conditions to ensure the healthy development of the BHP hash power chain community.

 Community voting mechanism 

The voting of the blockchain community and the self-upgrading of the system play an extremely important role. The change of the protocollayer needs to follow the longest chain. Inorder to protect the effective governance of the community and vote on major issues in community activities, the BHP community allows users who holdBHPC anduse BHP services to havevoting rights. The size of the user's voting rights is determined by the amount of BHPC holdings.

(1)Agent vote The agent vote means that the BHP community selected a number of special agents to exercise the corresponding voting power during the unit time. (2)Collective vote Collective vote applies to major development issues in the community. 

When a node issues a voting request, the primary node sends a verification message to the entire verification node. If the entire verification node passes, the message is broadcast to the entire access node. All access nodes have the right to decide whether to accept or not, the voting results are visible to each node, and the community's next development plan and implementation plan for major issues are determined according to the voting results. 

Community promotion rewards program 

The BHP team will establish a BHP fund to effectively promote community development, and the BHP fund will reward groups or individuals who contribute to the development of the BHP community.

The BHP fund is maintained and used by the community, and is supervised to ensure that the use is fully open and transparent. Users can check the progress of the project and the use of funds through the official website. At the same time, BHP will also accept more volunteers to participate in the daily operation of the BHP community and the development of the project.

Applications

Global Commercial Payments Application 

The prerequisite of a good bank operation for BHP is to establish an effective payment system, and realize distributed online "bank" system through blockchain distribution technology. Anyone can store, publish and exchange the related assets in the distributed bank system. BHP platform issues BHPC as the basic agreement currency and takes BHP digital currency system as the basic operating mechanism. On the application layer, services and products like the BHPC encrypted wallet and the all-digital-currency treasury online leasing transaction platform will be launched to provide users with functions like digital assets secure storage, transaction payment, hash power purchasing, etc., as well as digital currency services with mainstream PoW digital currencies(like Bitcoin and Ethereum) as the main evidence. BHPC itself is designed with blockchain as the bottom layer and integrated with PoP consensus mechanism, and has realized technology applications like decentralized credit, smart contract, encryption technology and digital currency, etc.