0bsnetwork in A Nutshell
0bsnetwork is Blockchain For The Real World.
A blockchain platform uniquely suited to the B2C and B2B needs of startups, established small and medium companies, as well as globe-spanning enterprises with hundreds of corporate partners and millions of users.
0bsnetwork is the right platform for you if you want to create a retail/loyalty token, one for fair specialty coffee trade or for tokenizing ownership in a network of car-sharing vehicles. It is also the platform of choice if you want to implement blockchain as the underlying technology for decentralized, fair, immutable and trustless ledger of data and transactions in a B2B setting, for example in a cross-border supply chain network in any kind of manufacturing. Actually, in terms of token use cases, your imagination is the only limiting factor (well, as long as you're not pursuing illegal business ideas :) )!
0bsnetwork is feature-rich, fast, cost-effective and scalable. And thanks to its NG-DPoS algorithm, it doesn't burn as much coal as six medium-sized European countries to process your transactions.
You don't need to know the inns and outs of the blockchain technology or learn a new programming language. Simply rely on our set of powerful and flexible APIs and develop your desktop, mobile and web blockchain-enabled apps as you would any other. 0bsnetwork will take care of the underlying blockchain part.
If your use case really requires custom code that can only be achieved by deploying a smart contract, 0bsnetwork supports that as well. But we are confident that vast majority of all blockchain use cases won't require smart contract development.
Our code is forked from the Waves platform, which itself is based on NXT, Scorex and Bitcoin-NG, so we are quite literally "standing on the shoulders of giants". The development of the codebase started in 2013 and has received inputs from some of the brightest minds in the entire blockchain R&D space. And we're adding meaningful improvements. True decentralization and fairness, speed, security and ease of use, along with sustainability in terms of resource utilization are our top priorities. We will follow that with an ambitious roadmap of new user-facing features and technical improvements in the coming months and years.
These are some of the main features of the current production-ready implementation of the 0bsnetwork:
- Truly Decentralized: no node will have more than 10% of the voting or transaction processing power in the initial stages and once the network grows, no node will have more than 5%.
- NG-DPoS stands for Next Generation Decentralized Proof of Stake. Very low resource utilization due to the PoS part, truly decentralized thanks to our custom code and supremely fast due to the implementation of the Bicoin-NG protocol developed by Emin Gün Sirer and his team at Cornell University - globally leading blockchain R&D lab.
- Cheap Transactions: ~0.01 EUR/tx.
- Transaction Speed: up to 1,000 tx/s (Bitcoin: 3-7 tx/s, Ethereum: 18-22 tx/s).
- Data Transactions: store, share and process business data on the blockchain without developing smart contracts.
- Mass Transactions: cheap and convenient one-to-many transactions, for token distribution, airdrops, ICOs, etc.
- Easy Token Creation: the token is created in 1 minute and immediately tradeable on the built-in exchange; no smart contract development necessary. It costs ~500 EUR to create a token: low cost for those whose business case calls for a token, yet not ridiculously cheap to encourage the creation of spam tokens.
- Powered by 0bsCoin: fixed total supply, released over a period of 20 years, with token economics carefully considered.
- Exchange Trading Bots and Automated Orderbook Management: chose a strategy and let the bots do the heavy lifting.
- Automated Reporting: for tax and other regulatory/business purposes.
- Powerful API: Develop your own blockchain-enabled apps using web, mobile or desktop app development languages and tools you're already familiar with.
- Smart Accounts:
- Smart Contracts: if you absolutely need custom code executed on the blockchain, or if you want to develop DAPPs (decentralized applications) the functionality is there.
0bsnetwork is extremely light on resources and cost effective. All it takes to run a full node on 0bsnetwork is a standard PC, or server, with a 2 or 4 core processor, 16GB of RAM (expected to grow to 32GB in several years), a 120GB SSD (expected to grow to 240GB in several years) and a reliable Internet connection. No graphics cards or specialized hardware at all. It costs 8-20 EUR per month to rent such a server from a cloud computing provider.
More importantly, running the entire 0bsnetwork with 100 nodes, which provides more than sufficient decentralization, attack resistance and high availability, consumes less than 0.4 GWh of electricity per year. Contrast that with more than 20,000 GWh per year for Ethereum (as much as the entire country of Azerbaijan) and close to 75,000 GWh per year for Bitcoin (as much as the entire country of Austria; households, businesses and industry included).
For another comparison metric, every single transaction on Bitcoin uses 0.9 MWh of electricity. So using as much electricity as the entire 100-node 0bsnetwork consumes in a year, Bitcoin network can process around 500 transactions. 0bsnetwork can process that many transactions each second, at a negligible per-transaction electricity consumption and cost.
To put it bluntly, Bitcoin, Ethereum and all other blockchain networks which rely on the Proof of Work algorithm and use specialized hardware are substantially contributing to global climate change. Even though some will argue that a percentage of electricity used for running these networks comes from renewable sources, the fact remains that the more electricity we use in total, the more of it will be produced by burning fossil fuels. There is no alternative to resource-frugality when it comes to slowing the global climate change and hopefully preventing the environmental and human disaster that we seem to be racing towards.
*Electricity consumption data for Bitcoin and Ethereum is taken from digiconomist.net analysis website and is valid as of early August 2018. Electricity consumption for 0bsnetwork is calculated on the basis of 500 W draw per node - this is an overestimation and leaves a large margin.