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Bitcoin is too valuable to be used as a currency







LegendaryActivity: 1054Merit: 1000Bitcoin is too valuable to be used as a currency

Re: [ANN] | FLASH | it is like gmail for crypto - pre-sale STARTED! September 02, 2016, 07:08:28 AM #20 Quote from: d-trix on September 02, 2016, 07:04:50 AM Can you provide more details about the coin specifications?

From Whitepaper



FLASH Architecture Overview





FLASH is a premined, permissioned blockchain, based on the original

Bitcoin/litecoin blockchain. It has been optimized for several very specific

use cases:



1. High performance. Transactions settle in less than 2 seconds.



2. Highly secure. A number of security flaws with the original bitcoin

blockchain have been patched. The platform has been enhanced with

Curve25519 Elliptic Curve encryption. All communications between

wallet and blockchain are in secure EC tunnel with curve ZeroMQ.



3. Commercial scale throughput capability. The FLASH platform has

been successfully tested at 25,000 trans/sec. Based on our lab tests

we are confident that the platform can be optimized to well over

100,000 trans/sec in the near future, if the need arises.



4. A legally compliant model, with capability for AML and KYC when

required by local authorities as well as an anti­fraud system.



5. A key recovery system to prevent loss of keys.

In order to reach these critical metrics for wide scale use by millions of

participants the FLASH platform is based on the principles of a

permissioned blockchain. The platform leverages both the existing

enterprise hardened distributed database technology with blockchain

technology characteristics, decentralized control, immutability and creation

and movement of digital assets. FLASH has pre­mined 900 billion coins

which will be distributed over the course of two years.



The FLASH system builds upon three tier application platforms. Like most

standard systems we have User Interface​, Communications​, and

Business Logic​ / Storage​ tiers.



The User Interface Tier ​enables the end user or application to interact

with the FLASH System. The FLASH platform leverages HTML5, CSS3

and JavaScript on the browsers, with no extensions, enabling seamless

cross browser support. We have developed and adopted all technologies

that enable JavaScript to do what C/C++ and Java are able to do. In

addition, the FLASH System uses Twitter Bootstrap to provide a responsive

web framework that works on any device.



The Communication Tier ​enables a secure tunnel between the User

Interface Tier and the Business Logic / Storage Tier without the need for

OpenSSL. The secure protocols used by the FLASH includes:

HTTP / Web Sockets using Curve ZeroMQ and Libsodium. Our work in the

area of communication also means that we are an early adopter of new

secure protocols that run over JavaScript using HTML5.



The Business Logic ​/ Storage Tier​ enables all of the transaction flows,

business logic, and networking systems to be stored and operated within

this layer. This tier is responsible for executing proprietary algorithms to

store in the distributed database, which power FLASH.



● The Key Exchange Cluster​ is a horizontal cluster of servers that provide

key exchange or key lookup for every transaction on the FLASH System,

like a directory. Due the nature of cryptographic key pairs on the Bitcoin

transactional system, every transaction requires a public wallet address

lookup. Key exchange needs to act as the public address registrar. The

Key Cluster also allows currency exchange, messages, public escrow and

other information flow among peer­to­peer wallets. The message engine

has enabled logging and notification of all activities on the wallet

communication using Sendgrid email notification. The Key Server uses

NodeJS, ZeroMQ, Redis, and MySQL.



● The FLASH Wallet Application​ is a horizontal scaling server application

that enables all FLASH Wallets to be used from different Web Browsers.

The FLASH Wallet Application has most of the Bitcoin Wallet

functionalities and key exchange functionalities. Its a virtual online wallet

using the HTTP Protocol / Web Sockets.



● The Key Storage System​ uses cryptographic algorithms to secure the

Bitcoin Private Key in multiple locations with a combination of online and

offline (future) storage. We're using Shamir's threshold secret sharing

shcme, in which one share is kept by the user. When recovering private

key, user needs to provide his share.



● The Web Service API Servers​ preprocess, convert and index all the

FLASH transactions from the Web Interface and send them to the

blockchain. This significantly speeds up the transactions as each wallet

doesnt need to sync all blocks from the blockchains local server. All

wallets can share the blockchain on the Blockchain API server. This

improves the transaction performance significantly due to the reduced

network latency for each wallet synchronization. Another very important

aspect of the technology is the significant reduction in the possibility of

double spending". All blockchain transactions are indexed, preprocessed

and validated through the Gateway Server in a manner similar to Bitcoin.



● The FLASH Blockchain​ is a fork of Litecoin technology. A number of

significant modifications have been made. The settings have been changed

in order to speed up the transactions to the blockchain. All the coins have

been premined and the mining has been reset to the minimal degree of

difficulty factor. The blockchain is secured behind firewalls in multiple

secure data centers. Traditional consensus along with intrusion detection

is used to prevent the blockchain from being taken over by an attacker.

The purpose of the FLASH Blockchain is to replace the traditional

transactional database with a network storage database and include an

end­to­end security data structure.



 Transaction Fees​ are set to one FLASH coin per transaction, these fees

may be raised or lowered in the future, depending upon demand. From WhitepaperFLASH is a premined, permissioned blockchain, based on the originalBitcoin/litecoin blockchain. It has been optimized for several very specificuse cases:1. High performance. Transactions settle in less than 2 seconds.2. Highly secure. A number of security flaws with the original bitcoinblockchain have been patched. The platform has been enhanced withCurve25519 Elliptic Curve encryption. All communications betweenwallet and blockchain are in secure EC tunnel with curve ZeroMQ.3. Commercial scale throughput capability. The FLASH platform hasbeen successfully tested at 25,000 trans/sec. Based on our lab testswe are confident that the platform can be optimized to well over100,000 trans/sec in the near future, if the need arises.4. A legally compliant model, with capability for AML and KYC whenrequired by local authorities as well as an anti­fraud system.5. A key recovery system to prevent loss of keys.In order to reach these critical metrics for wide scale use by millions ofparticipants the FLASH platform is based on the principles of apermissioned blockchain. The platform leverages both the existingenterprise hardened distributed database technology with blockchaintechnology characteristics, decentralized control, immutability and creationand movement of digital assets. FLASH has pre­mined 900 billion coinswhich will be distributed over the course of two years.The FLASH system builds upon three tier application platforms. Like moststandard systems we have User Interface​, Communications​, andBusiness Logic​ / Storage​ tiers.The User Interface Tier ​enables the end user or application to interactwith the FLASH System. The FLASH platform leverages HTML5, CSS3and JavaScript on the browsers, with no extensions, enabling seamlesscross browser support. We have developed and adopted all technologiesthat enable JavaScript to do what C/C++ and Java are able to do. Inaddition, the FLASH System uses Twitter Bootstrap to provide a responsiveweb framework that works on any device.The Communication Tier ​enables a secure tunnel between the UserInterface Tier and the Business Logic / Storage Tier without the need forOpenSSL. The secure protocols used by the FLASH includes:HTTP / Web Sockets using Curve ZeroMQ and Libsodium. Our work in thearea of communication also means that we are an early adopter of newsecure protocols that run over JavaScript using HTML5.The Business Logic ​/ Storage Tier​ enables all of the transaction flows,business logic, and networking systems to be stored and operated withinthis layer. This tier is responsible for executing proprietary algorithms tostore in the distributed database, which power FLASH.● The Key Exchange Cluster​ is a horizontal cluster of servers that providekey exchange or key lookup for every transaction on the FLASH System,like a directory. Due the nature of cryptographic key pairs on the Bitcointransactional system, every transaction requires a public wallet addresslookup. Key exchange needs to act as the public address registrar. TheKey Cluster also allows currency exchange, messages, public escrow andother information flow among peer­to­peer wallets. The message enginehas enabled logging and notification of all activities on the walletcommunication using Sendgrid email notification. The Key Server usesNodeJS, ZeroMQ, Redis, and MySQL.● The FLASH Wallet Application​ is a horizontal scaling server applicationthat enables all FLASH Wallets to be used from different Web Browsers.The FLASH Wallet Application has most of the Bitcoin Walletfunctionalities and key exchange functionalities. Its a virtual online walletusing the HTTP Protocol / Web Sockets.● The Key Storage System​ uses cryptographic algorithms to secure theBitcoin Private Key in multiple locations with a combination of online andoffline (future) storage. We're using Shamir's threshold secret sharingshcme, in which one share is kept by the user. When recovering privatekey, user needs to provide his share.● The Web Service API Servers​ preprocess, convert and index all theFLASH transactions from the Web Interface and send them to theblockchain. This significantly speeds up the transactions as each walletdoesnt need to sync all blocks from the blockchains local server. Allwallets can share the blockchain on the Blockchain API server. Thisimproves the transaction performance significantly due to the reducednetwork latency for each wallet synchronization. Another very importantaspect of the technology is the significant reduction in the possibility ofdouble spending". All blockchain transactions are indexed, preprocessedand validated through the Gateway Server in a manner similar to Bitcoin.● The FLASH Blockchain​ is a fork of Litecoin technology. A number ofsignificant modifications have been made. The settings have been changedin order to speed up the transactions to the blockchain. All the coins havebeen premined and the mining has been reset to the minimal degree ofdifficulty factor. The blockchain is secured behind firewalls in multiplesecure data centers. Traditional consensus along with intrusion detectionis used to prevent the blockchain from being taken over by an attacker.The purpose of the FLASH Blockchain is to replace the traditionaltransactional database with a network storage database and include anend­to­end security data structure. Transaction Fees​ are set to one FLASH coin per transaction, these feesmay be raised or lowered in the future, depending upon demand.