Redstar Block Chain
Redstar Block Chain is fundamentally different from the traditional block chain technology, and offers substantial performance gains required by real-time financial applications.
The three keystones of block chain distributed ledger framework are:
1) signing of a chain of digital signatures,
2) proof-of-work, and
3) network broadcast and verification.
Those creates one of the most biggest disadvantages of block chain: the speed. Because of the large amount of computation is required to complete all three steps, especially “proof-of-work”, known as mining to generate crypto-currency, block chain is just too slow to be useful for real-time financial transactions, which often demand mille-second level response time.
Our proprietary Redstar Block Chain technology is an much advanced and optimized version of block chain. Since Net Currency (Neco) is backed by a basket of real world sovereign currency, it does not need to use crypto algorithms to generate the cyber currency, known as ‘coin’, as the proof-of-work, and thus can avoid the most computationally intensive step in the traditional block chain implementation. This insight and innovation, combined with other system improvements, enable Redstar block chain to be the fastest in its kind, with a response time at two to three times magnitude faster than the vintage implementation.
Our plan is to release Redstar block chain as an open source project.