HELIOS project gets listed on ATOMARS
Dear ATOMARS community,
We are proud to announce the listing of HELIOS project on ATOMARS exchange.
HELIOS deposits are effective immediately and trading is open with the following pairs: HLS/BTC, HLS/ETH, HLS/USDT.
HELIOS PROJECT SUMMARY
Helios (HLS) is an infinitely scalable cryptocurrency and smart contract platform based on DAG + blockchains. Helios Protocol is designed from the ground up to be futureproof with secure, high speed, and low fee transactions, and to enable truly decentralized and democratic applications.
HELIOS PROJECT FEATURES
High speed and scalable:
Helios protocol transaction throughput is 225 million tx/sec. Compared to Bitcoin’s 4 tx/sec or Ethereum’s 15 tx/sec the Helios protocol is on the order of 50 to 20 million times higher throughput, respectively.
Low transaction fees:
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.
Smart contract and DAPP platform:
The Helios platform will be capable of executing smart contracts and dApps programmed in Solidity just like the Ethereum platform. This will allow for 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 HLS tokens to a dApp incubator fund to support new visionary projects built on the Helios platform.
Security and 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.
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, the Helios protocol will use approximately 6000 and 9000 times less energy than the Bitcoin network with the same number of fullnodes.
Truly decentralized and democratic:
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, Helios 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.
With traditional blockchains, the order of transactions is determined by the miner who mines the block. This means the sender and receiver don’t know when their transaction will actually take place and just need to wait patiently until it gets added to the blockchain. As mentioned earlier, this can lead to centralization of power, and gas wars. With the Helios blockchain, every wallet is allowed to add a block with transactions to their own blockchain at any time they wish. Effectively, each wallet gets to “mine” a block at any time, and also choose the order of the transactions within the block. This gives the power back to the 2 parties involved with each transaction and eliminates the possibility of a central power choosing the order of transactions. Once the sender and receiver of a transaction has included it in each of their blockchains, the transaction is complete.
It is becoming increasingly difficult for normal people to participate in ICO’s which are becoming exclusive to a small number of wealthy investors. This also results in a small number of people holding a large stake which reduces the level of decentralization and democracy within the protocol.
In the spirit of decentralization and democracy, Helios project team have chosen to not have an ICO. The Helios project is entirely self funded and bootstrapped.
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Learn more about HELIOS project at https://heliosprotocol.io/
Trade HLS/BTC, HLS/ETH, HLS/USDT on https://atomars.com/