Whitepaper
iAssets.Social Whitepaper v2.9
The revolution of blockchain
Blockchain is an amazing technology. it was started a decade ago with bitcoin and money and evolved with Ethereum and smart contracts. With Bitcoin, we don't need banks anymore. we can transfer money to each other around the world without any intermediary. with Ethereum, we have decentralized computing that is the base of decentralized finance.
The revolution of decentralized storage
Arweave was founded in 2017 by Sam Williams. The company is headquartered in London, UK. Arweave went through Techstars Berlin's mentorship program in 2018 and went live in June that year. Arweave has developed a new type of blockchain-based on Moore’s Law of the declining cost of data storage. Users pay upfront for a hundred years of storage at less than a cent per megabyte, and the interest that accrues will cover the dwindling storage cost forever.
The blockchain killer
The next revolution was the hedera hashgraph. based on hedera.com, Bitcoin pioneered decentralized infrastructure and Ethereum brought programmability. But earlier proof-of-work blockchains consume massive amounts of energy and process transactions slowly in order to achieve acceptable levels of security. Heavy bandwidth consumption by these technologies leads to expensive fees, even for a simple cryptocurrency transaction. The Hedera proof-of-stake public network, powered by hashgraph consensus, achieves the highest grade of security possible (ABFT), with blazing-fast transaction speeds and incredibly low bandwidth consumption. By combining high-throughput, low fees, and finality in seconds, Hedera leads the way for the future of public ledgers. so hedera is super fast, scalible, with super fees. one of the services that hedera provide is HCS. Hedera Consensus Service (HCS) is a purpose-built tool for creating decentralized, auditable logs of immutable and timestamped events for web2 and web3 applications. Messages are submitted to the Hedera network for consensus, given a trusted timestamp, and fairly ordered. HCS is used by applications in production to track provenance across supply chains, log asset transfers between blockchain networks, count votes in a DAO, monitor IoT devices, and more. so now you are familiar with these amazing technologies.
Hedera consensus service
Based on hedera.com, Hedera Consensus Service (HCS) is a purpose-built tool for creating decentralized, auditable logs of immutable and timestamped events for web2 and web3 applications. Messages are submitted to the Hedera network for consensus, given a trusted timestamp, and fairly ordered. HCS is used by applications in production to track provenance across supply chains, log asset transfers between blockchain networks, count votes in a DAO, monitor IoT devices, and more.
BNB Chain
BNB Chain, one of the most popular blockchains in the world, dedicates to delivering its core infrastructure necessary for future public adoption, and always remains as a community-first and open- source ecosystem built on a permissionless and decentralized environment.
iAssets.Social
It's time to talk about iAssets. in iAssets we built a decentralized social media based on Binance Smart chain, Arweave, and Hedera Hashgraph. Every message you post is stored on HCS, if your post has media like picture, video, music, etc, this media is stored on arweave. The system is decentralized and uses multiple DLTs.
Transaction fees
You need to charge your account to pay Arweave and Hedera transactions. Payments are upfront for future transactions. For example, you charge your account $5 and you are good to go to post 3000 messages + 1GB of media on a decentralized social media.
