For those who have read my articles before, I like to write about Projects I discover that either excite me, or intrigue me. Today I will be writing about Taxa Network, a project that has great technology in a service that can benefit all blockchains.
What is Taxa?
Combining state-of-the-art computer technology with the blockchain, Taxa delivers a layer 2 infrastructure that is available for every blockchain and DApp that will allow for computation-heavy, data-rich, privacy preserving, customisable smart contracts. This is the Logic layer and the Consensus layer (as seen below)
Utilising the layered structure differently to Bitcoin or Ethereum’s approach, Taxa at high level moves on-chain logic to off-chain.
The three internal layers that make up the Taxa Network
The Taxa Network is made up of three layers internally, the client layer, the Public Blockchain Layer and the Trusted Execution Layer.
The client layer allows embedding of the Taxa SDK into users DApps and also invoking the Taxa-enabled Hyper Smart Contracts.
The Public Blockchain Layer will see a deployment of a number of Taxa smart contracts on to public blockchains which will be responsible for handling Taxa related tasks on the network. This could be tasks such as status updates, payments, etc.
The Trusted Execution Layer will see a decentralised network, operating TEE-enabled computing nodes, who will own the execution of privacy-preserving, high-performance smart contracts. The layer will need to monitor and respond to tasks on the public blockchain such as the stablishing the secured connections with the end user. The resulting operations will need to be parsed back to the Public Blockchain Layer.
What core values can Taxa bring to every blockchain and DApp?
Performance:
To be able to perform complex business logic, Taxa must be able to operate at low overheads and utilise accelerated processing speed.
Reliability:
Taxa focuses on integrity, confidentiality and availability as they combine the ability of a fault tolerance ability with trusted hardware.
Privacy:
With security and Privacy at the forefront, Taxa implement hardware level isolation I/O channels to guarantee the security of sensitive data in storage, transmission and execution, all whilst hiding DApp’s private information from the nodes and the public.
Developability:
Taxa aim to provide a developer-friendly ecosystem which features rich sdk support for industrial use.
Roadmap
As the year approaches the last leg, the Taxa team are currently occupied with the research and design of their Testnet. As we move into 2019, they will begin the implementation of the Mainnet.
Who are the founders of Taxa?
The first of the two founders is TF Guo who has received an M.Sc in Computer Science from GWU. A whitehat at the age of 16 and an advocate of blockchain since 2014.TF has become an expert in Cryptography and Security.
The second of the founders is Esther Hu who has two M.Sc’s in Statistics and Financial Mathematics which she received from Stanford University. She has mainly been involved with mathematical modelling and trading strategies for Thomson Reuters, Stanford University and Peking University.
Sources
It’s worth staying up-to-date with all things Taxa Network related. They’ve advised us to keep an eye on their Medium blogs as they look to introduce Taxa’s trusted computing technologies, their minimal viable product (MVP), crypto economics and more. It’s an exiting time to be involved with Taxa Network as their vision becomes a reality.
Follow Taxa to receive all the latest updates:
Website: https://taxa.network
Telegram: https://t.me/taxanetwork
Twitter: https://twitter.com/taxanetwork
Facebook: https://www.facebook.com/taxanetwork/
AngelList: https://angel.co/taxanetwork
Medium: https://medium.com/@taxanetwork