MoFAS: aims to be the world's first block-chain platform providing the best security solution

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Since bitcoin coming out, the concept of decentralized, trustless and peer-to-peer network have became more and more popular. However the hacking news is also inevasible along with the popularity of cryptocurrency. From bitcoin, Ethereum to EOS, the hacking seems to be unstoppable, which shows the structural problem of the existing security system: it cannot respond more agilely than the hackers attacking security vulnerabilities.

Also, the existing blockchains face many problems, such as transaction speed and inefficient management due to decentralization, delay in consensus, security and limit of scalability.

Aiming to solve the problems, MoFAS came up with their own solution by raising the world's first block-chain platform that provides the best security solution.

MoFAS chooses the security area based on their background. Their parent company is called Hackers Lab, which has been providing IT security consulting services to corporations in South Korea for the last 20 years.

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MoFAS CMO Jay Ryu

CoinTime noticed that “Bitcoin Jesus” Roger Ver is also an adviser in MoFAS team, which is rarely to see in other projects. Roger seems to attend MoFAS meetings quite frequently, “Roger is very obliging and has faith in our technology. Though it doesn't happen quite often, I email him whenever I need his advice.” said CMO Jay Ryu.

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 MoFAS CTO Kim, Seongkee

For more detail, CoinTime interviewed the CTO Kim, Seongkee and CMO Jay Ryu from the MoFAS team.

Creative Design: Double-Linked Blockchain

One of the creative design of MoFAS, double-linked blockchain sets them from other blockchian apart.

It is consisted of two parts, blockchain and whitechain. The chain structure is designed to improve the speed of transaction aggregation and to efficiently process and manage distributed information.

The blockchain is a chain that records information about a transaction. It uses LUB (Lazy Update B) Extension Tree to create a root structure to find a genesis block. It establishes a tree structure to efficiently create storage expansion and storage management structures.

While the whitechain is a structure for double-linked blockchains, which stores and links the value of smart contracts (contracts, guarantees), etc. The whitechain is used for smart contracts and consent node structures. In addition, in the process of verifying and agreeing the connection routes of the blockchain, it forms a combined chain, thereby enhancing the reliability of the chain.

“That way the separation can resolve the scalability and security issues. Smart contract might be hacked and it's really not user-friendly to use. So by separating the two chains it's more efficient to manage and secure,” said Jay Ryu.

Why does the team call it the Whitechain?Kim, Seongkee says Whitechain is a very impressive chain and has better management and scalability. Originally the white chain is kind of related to the transparent.

The MoFAS team has not only created their own double linked chain system, but also creates their own codes.

“We haven't used any sources from existing cryptocurrencys, so we create everything from scratch. We wrote our own codes because most of the projects they use the lines of codes from like bitcoin, but we haven't used any single source of code of that,” said Jay Ryu.

The Core: S-DAPP & VPOS

MoFAS also supports a framework for DAPP that increases security and has a trust model to integrate various services with 5GL-based smart contracts. The DAPPs of MoFAS are based on this security and they call it Security-DAPP (S-DAPP). The S-DAPP platform running on the MoFAS blockchain is flexible. This S-DAPP should be able to accommodate a large number of users and must have sequential and parallel processing capabilities.

With the launch of the quaternary industry, the damage caused by security accidents due to the acceleration of convergence and the aggregation of industries is increasing day by day. In response to this, social costs are also increasing. The global cyber security market is expected to grow from $ 100.36 billion in 2016 at 12.9% a year for the next five years to reach $ 183.96 billion in 2021, according to Technavio, a market research firm specializing in IT.

As the information security market expands, MoFAS provides VPOS to all participants. VPOS is a shared security system automatically assigned to service providers who want to implement S-DAPP over the main Net of MoFAS. Developers and users of all S-DAPP services can safely enjoy services through this shared security system as well as sharing information and various solutions to the errors or faults of software or hardware. VPOS includes features of existing vaccines and provides distributed network and information sharing cloud-based security services. Unlike existing vaccines that are patched after pattern analysis, this system enables real-time response to malware through community. It provides a secure ecosystem for developers and users of the services built using MoFAS'S-DAPP.

On MoFAS, the token used within the system is called FAS.

“We reward our tokens to those who find and share information relating to IT security, and we use that information to exchange to those people who need these information through our tokens,” explained Jay Ryu.

MoFAS will provide a secure ecosystem for developers and users of the services built using MoFAS'S-DAPP. By using VPOS, MoFAS expects to converse some other black hackers into white hackers by giving them enough motivation to find and share some information about security, if they share the platform information, MoFAS will give them tokens as a reward.

“ And then we can use the same information to share to our users who need those information in exchange for our token. We are creating an very active community and we can defend our network very actively,” Jay Ryu said.

Hyper DPOS & Transaction Speed

“We intend to improve the utilization of blockchains in the real world by improving the speed, which is the fundamental problem of existing blockchains. The first problem to be solved is to improve the transaction speed of the blockchain and the speed of consensus. In order to overcome the limitations of various conventional consensus algorithms, MoFAS applies an efficient algorithm that creates trust without a three-party intervention on peer-to-peer (P2P) networks and we call this Hyper-DPOS,” according to Jay Ryu.

The Hyper-DPOS is a consensus algorithm to overcome the problems caused by equity delegation and the limitation of transaction processing and the speed of agreement. Hyper-DPOS consists of the Peer Responsibility Rate (PRR), which is a rate of confidence for speed and Steganohash, a consensus protocol that focuses on solving the Byzantine General problem.

In the industry, the initial blockchain uses the Proof of Work (POW) approach, which requires excessive use of electricity and high-performance hardware, and causes a particular group of hash monopoly problems. In addition, the processing speed of the data is slow, and it is limited to use in real life.

That's why POS (Proof of Stake) was introduced. The POS method has the effect of avoiding a waste of resources and the blaming of the monopoly by a certain group, but improves the data processing speed. However, the POS system has also suffered from various problems, such as equity unbalance and consensus delays, and the alternative method is the delegated proof of stake (DPOS) method.

MoFAS team thinks that DPOS is a somewhat contrary to the decentralization philosophy of the blockchain, but it is the most reasonable and efficient way of proofing known to date.

MoFAS also claimed that it will provide a high-speed node that can process one million transactions per second to search the information chain of blocks rapidly and increase responsiveness.

Talking about this TPS goal, Jay Ryu said, “We expect the number to be 300,000 when we launch our test net. Just to avoid any confusion, that number is not something that we can achieve as soon as we launch our first version, that's the ultimate goal.”


    Adapted from: Author: Emily Executive editor: Emily Sun
Declaration:In this article, the original copy of COINTIME, which is copyrighted by COINTIME, shall not be reproduced without authorization, and the authorized media shall specify "News from COINTIME" when quote the article, and the offender will be held accountable according to law.
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