AITA. Blockchain Infrastructure Based on Reputation & Sharding. Nov AITA Foundation

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Silvester Toby Wilson
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1 AITA Blockchain Infrastructure Based on Reputation & Sharding Nov AITA Foundation

COMPAMY Fb Tw In CONTENTS. 01 02 03 04 What is AITA?

2 COMPAMY Fb Tw In CONTENTS What is AITA? What problem we How we do it? What distinguish us solve? from other blockchain aita.network Slide 2

3 What is AITA PART 01

4 What is AITA? A high scalable, self-motivated and secure blockchain using Secure Scalable proof-of-reputation & reputation sharding. Consensus protocol developed by distributed system lab led by an IEEE Fellow professor from of HKUST. Cost-effective Self-motivated Latest testnet has achieved average speed of 6852TPS with sharding failing time >4000years. Transaction fee is estimated as low as $ per transaction. aita.network Slide 4

5 What problem we solve PART 02

6 Scalability Issue AITA aims to achieve blockchain scalability BITCOIN ETHEREUM VISA 7 TX/S 10 TX/S 8K TX/S aita.network Slide 6

7 Current Solutions INCREASE BLOCK SIZE - Centralization Sharding is most promising technology to achieve scalability OFF-CHAIN - Lose Transparency SHARDING - Most Promising aita.network Slide 7

8 Reputation Sharding Core Feature of Reputation Sharding Higher Network Security: Elastico tolerate up to ½ bad validators Omniledger Strong Community Consensus: No hard fork, consensus can t be destroyed RapidChain Self Network Evolution: Reputation encourages network expansion and distinguish capable nodes to improve efficiency aita.network Slide 8

9 What is Reputation Reputation is a well studied concept in academic field of peer-to-peer network. Judgement on Validators Historic Behavior A-Performanc: Bandwidth, Tx verification result B-Robustness: Communication history between nodes r i = Aρ B aita.network Slide 9

10 How we do it PART 03

11 Technology Architecture aita.network Slide 11

12 Parallel Chain Architecture TB TB TB TB Transaction block (TB) Processing Txs with High Speed Confirmed RB RB Reputation block (RB) Achieve consensus on validators reputation score aita.network Slide 12

13 COMPAMY Fb Tw In Sharding and leader election Sharding / each shard has similar distribution of reputation A C A C D Shard 1 D B F E F B Shard 2 E Leader Election / High reputation, high possibility to be the leader. A 50% B 30% F 20% aita.network Slide 13

Intra Shard Transaction Validator B 01 02 03 Leader A Validators give their decisions with their signature Leader collects transactions and broadcasts to all validators in the shard Leader

14 Intra Shard Transaction Validator B Leader A Validators give their decisions with their signature Leader collects transactions and broadcasts to all validators in the shard Leader generates transaction block based on the decisions // Leader will sends the transaction block and the set of decisions to all validators later TX1 TX2 TX3 Validator C aita.network Slide 14

15 Cross-shard transaction Solve the Biggest Obstacle for Sharding by Introducing State Block SB RB RB SB Shard 1 State Block /// SB RB RB SB - Validators reputation score, clients account result. SB RB RB SB - Validators update shard state regularly through State Block. Epoch i Epoch i-1 Epoch i+1 - Improve efficiency for cross-shard transactions. aita.network Slide 15

16 End of one epoch Reward to all validators: according to validators reputation High reputation, high portion of reward The leader gets an extra reward. Two rewards: - block reward: in native token - transaction fee: in stable coin aita.network Slide 16

17 What distinguish us from other blockchain PART 04

Advanced Technology Scalable Secure Self-motivated Cost-effective AWS testnet with 1800 nodes, average speed 6852 TPS, far exceeding today s most blockchain platforms Probability of a shard breakdown

18 Advanced Technology Scalable Secure Self-motivated Cost-effective AWS testnet with 1800 nodes, average speed 6852 TPS, far exceeding today s most blockchain platforms Probability of a shard breakdown is so small. Reputationbased sharding system takes more than four thousand years to fail. Each validator can get reward based on reputation score. Not only the block founder can get the reward. Each transaction cost less than cent. Friendlier with individual developers and small businesses. aita.network Slide 18

(Commission: 20% of Tx Fee) AITA Platform Tx Fee 0.

19 Sustainable Business Reward to all validators: according to validators reputation Client AITA Foundation (Commission: 20% of Tx Fee) AITA Platform Tx Fee 0.8*Tx Fee Blockchain Service Validators Verify Tx aita.network Slide 19

Application in Finance Large-scale Use of Next-gen Blockchain : Mobile Payment Blockchain + Stable Coin - A much safer ledger to process transactions - In essence, current mobile payment system is a

20 Application in Finance Large-scale Use of Next-gen Blockchain : Mobile Payment Blockchain + Stable Coin - A much safer ledger to process transactions - In essence, current mobile payment system is a set of software for users to keep account data. - Stable coin: a software built on blockchain infrastructure for third party payment(e.g. USDT+BTC, GUSD+ETH) - Perfect solution for mobile payment(e.g. POS machine could join the network as a node) aita.network Slide 20

Application in Finance AITA Enables Blockchain Enter the Mobile Payment Era Centralized Payment System(Alipay,VISA) - High Transaction Fee(charge~0.

21 Application in Finance AITA Enables Blockchain Enter the Mobile Payment Era Centralized Payment System(Alipay,VISA) - High Transaction Fee(charge~0.3% for Merchants) - Expensive payment Infrastructure Issue Stable Coin in AITA Easy to Deploy(e.g. issue ERC- 20 in Ethereum) Current Stable Coin( USDT,GUSD) - High Cost(Ethereum based 0.05~1$/Transaction) - Unable for Large-scale Use(Most built on Ethereum/BTC ) Low Transaction Fee($ /Transaction) Enable Large-scale Use(AITA platform is Scalable) aita.network Slide 21

Foundation Revenue Calculation* Service fee per Tx: $0.

Valuation Estimation 1800 6000 $378,432 $ 12,614,400

$2,270,592 $ 75,686,400 *All foundation revenue will be

22 Foundation Revenue Calculation* Service fee per Tx: $ Validators in the Network TPS Annual Income Valuation Estimation $378,432 $ 12,614, $1,135,296 $ 37,843, $2,270,592 $ 75,686,400 *All foundation revenue will be used for continuous development of AITA eco-system. aita.network Slide 22

PhD, Hong Kong University of Science and Technology Qian

Cheung Kong Chair Professor Zeyu Wang CTO -- PhD, Hong

COO -- Master in Finance, Peking University, Former sales

Research -- PhD, National University of Singapore Shuai

Jiaotong University, Former Developer in Meituan Muhua

23 Who We Are? Aaron Guan CEO -- Visiting Scholar, Oxford University, PhD, Hong Kong University of Science and Technology Qian Zhang Chief Scientist -- Professor, HKUST IEEE Fellow, Cheung Kong Chair Professor Zeyu Wang CTO -- PhD, Hong Kong University of Science and Technology Queenie Wang COO -- Master in Finance, Peking University, Former sales manager in PingAn security Zhiqiang Zhang Head of Research -- PhD, National University of Singapore Shuai Peng Core Developer -- Master of Computer Science, Xi'an Jiaotong University, Former Developer in Meituan Muhua Zhao Core Developer -- Master of Computer Science, Xi'an Jiaotong University, Former Developer in CRRC aita.network Slide 23

COMPAMY Fb Tw In THANK YOU @aitaofficial http://www.

24 COMPAMY Fb Tw In THANK Slide

AITA Project: VISA-level Public Chain. Based on Reputational. Sharding AITA. Version 0.1

AITA AITA Project: VISA-level Public Chain Based on Reputational Sharding Version 0.1 Non-Binding until Formal Document is Offered Content Subject to Change The AITA Team Jun. 2018 EXECUTIVE SUMMARY As