Several blockchain platforms already exist, so why build another one? Because this endeavour would be immensely valuable if the problems that have continued to plague blockchain, such as low transaction speeds, lacklustre computational power, limited scalability and high latency could be solved.
XTblock’s unique time sharding architecture, as well as several other enhancements, have been designed and developed to solve precisely these problems.
Let’s look at why this is important, by way of a simple analogy. If you consider a computer network – in this case a blockchain network – to be a ‘brain’, it would follow that a healthier brain has better connections and greater processing power. And while the human brain is similar to, but not necessarily the same as, a computer network, the premise is fundamentally the same: That information (i.e. data) fed to a more capable blockchain network allows that blockchain not only to verify blocks of information, but also to perform powerful computing operations.
Delivering a high-performance blockchain such as this has massive positive implications for every industry: It would take the key advantages that characterise a blockchain network, such as immutability, security, transparency and decentralisation – and greatly enhance this proposition with high computational power, low latency and rapid scalability. This means that the best of both worlds – the benefits of powerful centralised networks and the advantages of blockchain – can now be delivered through a single, even more capable platform, like never before.
Importantly, XTblock will also power two critical and high-potential realms of technology: Decentralised Artificial Intelligence and Bot computing.
Decentralised Artificial Intelligence
Artificial Intelligence (AI) technology in its present state is largely centralised, which means it is limited by the power, mobility and connectivity of its host network.
“Distributed Artificial Intelligence (dAI), also called Decentralised Artificial Intelligence, is a subfield of artificial intelligence research dedicated to the development of distributed solutions for problems. dAI is closely related to, and a predecessor of, the field of multi-agent systems” [Source: Wikipedia]
Decentralised Artificial Intelligence (dAI) is the next leap forward for Artificial Intelligence and is an approach to solving AI’s complex learning, planning, and decision making problems – especially if they require large amounts of data, by distributing the problem to autonomous processing nodes (agents). It exploits large scale computation and spatial distribution of computing resources. These properties allow it to solve problems that require the processing of very large data sets.
As explained in a paper by Don Tapscott and Anjan Vinod, the Blockchain Research Institute and Blockchain at Berkeley, “Imagine a massive number of nodes pooling their data, contributing to a data commons of sorts, rather than dealing with the very siloed and centralized pools of data that exist now.”
They go on to say, “As people and things generate more data, storing those data in a decentralised manner can be challenging. Public blockchains are very expensive for storing vast amounts of data; and beyond the cost, quickly retrieving the data can be computationally intensive. Computing systems will need to retrieve, analyze, and compute algorithms in a very short period… Current blockchain solutions do not offer the scalability required for such types of aggregation and computation”
This is where XTblock is different. It presents cutting-edge possibilities in AI through the creation of a new type of distributed architecture that runs on our blockchain network.
It is the intersection of two technologies that are individually revolutionary, but which can change the course of business, industry and the world at large.
By solving the problems of scalability and performance, XTblock aims to realise this vision for Distributed Artificial Intelligence in a manner that is truly viable.
For more information, please read about our dAI architecture in our presentation on XTblock’s blockchain network: https://github.com/xtblock/dai-research-development
Decentralised Bot Computing
A report titled ‘The Underground Bot Economy: How Bots Impact the Global Economy’ (imperva.com) states “Data from our “2015 Bot Traffic Report” reveals that bots account for nearly half of all internet traffic (49 percent). That’s an amazing statistic when you consider the fact that there are more than 3 billion internet users in the world. Some of the bots best known to the general public power search engines like Google, Bing, and DuckDuckGo.”
In a simple yet helpful description of bots on their website, Botnerds explains that “Bots are software programs that perform automated, repetitive, predefined tasks. These tasks can include almost any interaction with software that has an API. The tasks can
range from making dinner reservations to getting an update on a support request, to checking competitors’ prices on their websites. You’ll notice that the definition of bots does not necessarily include the concepts of artificial intelligence (AI) or machine
This is the era of hyperspecialization, for both, humans and technology. In technology terms, we are focused on empowering specialised bots by allowing them to access the massive computational capabilities of our blockchain network.
Here’s another simple analogy to explain this concept: Just as a doctor uses his education and experience to treat patients, a bot uses its algorithms to perform certain specialised tasks. The doctor, however, relies on complex diagnostic equipment to help with diagnosis; i.e. he relies on the rapid data processing capabilities of the equipment to generate results that help him make quality analyses, decisions or medical recommendations. The more powerful the equipment and the greater its capabilities, the better the results – and the more informed he is when it comes to analysing, deciding and recommending.
In the same way, XTblock will enable bots to compute with large data volumes by leveraging its considerable computing power using, potentially, hundreds or thousands of nodes on the decentralised network. This will allow the bots to execute even complex tasks in parallel, and in a timely manner.
This also applies to blockchain oracles, which will be able to take both on-chain and off-chain information to process it on XTblock.
Find more information on bots here:
What Are Bots? Understanding the Bot Landscape | botnerds.com
Further reading – Good bots and bad bots:
What Is a Bot? | Bot Definition | Cloudflare
A brief background and XTblock’s core premise
Blockchain technology is a type of distributed ledger that was originated with the intention of obviating the need of trusted intermediaries, given that these intermediaries often exploit the information of the ledger, use it inefficiently, or corrupt it; instead of relying on these trusted intermediaries, all participants of the network are allowed to maintain their own synchronised copy.
Today, blockchain infrastructure is huge and uses high-performance computers (CPU/ GPU/ RAM/ Storage/ Network) which are also good for algebraic calculations and fit for computing requirements for AI; however, existing blockchain implementations only use blockchain nodes and networks for the simple purpose of block verification.
XTblock’s core premise is that the same architecture, miners and infrastructure can be used for distributed problem solving (DPS), like AI computing services and Bot computing services.
As part of the results we aim to generate, by providing Decentralised Bot Computing (dBot) and Decentralised AI Computing (dAI) services, we also aim to create valuable Bots with distributed computing solutions, variably with or without AI solutions on our blockchain platform. We call this “The dBot Economy”.
At its core, what we are building is a hyper-capable network. To facilitate the functioning of this network, a group of bots, i.e. a ‘bot set’, will help to create a wide variety of applications and services. This could vary from a high performance blockchain network to peer-to-peer video streaming services, AI computing services, bot computing services… the possibilities are virtually limitless.
Table of contents
- Executive summary
- Solution and Business Model
- Use Cases
- Competitive Landscape/Market
- Growth Opportunities
- Fund Distribution
- The Team
1. Executive Summary
Blockchain is powerful and has great potential, and the validated market size and growth rate are very promising, but the CapEx and OpEx are still too high, which prevents its widespread adoption (in addition to other issues related to scalability, speed, latency etc., which continue to challenge current blockchain solutions).
We have developed a multi-chain, high-performance, scalable blockchain technology that effectively addresses the key issues facing blockchain today, such as speed, scalability and latency. Our blockchain is made available through a subscription-based shared and variable blockchain speed business model. Importantly, this also solves the high-cost problem of deploying and maintaining blockchain applications.
As mentioned earlier, blockchain infrastructure is massive and widespread, and uses high performance computers (CPU/ GPU/ RAM/ Storage/ Network) which are also good for algebraic calculations and a good fit for distributed computing requirements. Therefore, there is little sense in using blockchain networks merely for block verification–with the same architecture and the same miners, we can use this infrastructure for AI computing services, such as distributed problem solving, federated training and distributed functioning. The potential, therefore, far exceeds the current use of blockchain networks today, with near-limitless possibilities on the horizon.
Below are the factors required for distributed problem solving in general, and specifically for AI computing, that must be kept in mind – and which, importantly, XTblock aims to fulfil:
High computing capacity
Organisations need high performance computing resources, including CPUs and GPUs, to explore the possibilities of AI. As experiments are still underway in most of the organisations exploring AI, the general approach is to build a strong CPU-based environment to handle basic AI functions. But currently, the existing CPU-based computing might not be enough to handle the multiple large initiatives as required by the deep learning process. To deploy scalable neural network algorithms and manage the high-performance networks and storage, computing capacity and density of data handling need to improve.
Storage capacity is the fundamental requirement for any AI infrastructure, as there is a need to scale storage as the volume of data grows. But an organisation needs to ascertain the level and extent of storage they would require, for planning their experiments with AI. Companies need to handle their expansion plans and manage their storage capacity to be able to make real-time decisions, as AI applications can help to make better decisions when they’re exposed to more data.
Seamless networking is an essential component of AI infrastructure. As scalability is a high priority, an organisation would require a high-bandwidth, low-latency network. Deep learning algorithms depend on communication, and as AI experiments progress and expand, network systems need to keep pace. For this expansive service, it is necessary to have an expert infrastructure provider who can handle the service wrap and technology globally, and also ensure that the stack is distributed and consistent in all places.
As AI is used to handle sensitive data in sectors such as healthcare, finance and beyond, securely maintaining the personal data becomes a bigger challenge. These pieces of information are extremely vulnerable in nature; and if not managed well, it can be detrimental to any organisation if exploited by malicious actors. Besides, if any unwanted and unnecessary data are added to the AI system, it would lead to incorrect decision making and detrimental inference. Hence, highly secure AI infrastructure is required to ensure that the data is protected.
This is just the beginning of AI model development, as research progresses slowly across the world. AI will become more complex, and the associated development costs will correspondingly be very expensive. Organisations must work to ascertain the most cost-effective solutions to continue with their process and growth. As organisations using AI must maintain their momentum and growth, they have to depend largely on improved networks, servers, and storage infrastructure to enable the use of this technology. The whole process is prohibitively expensive. Therefore, it would be incumbent upon them to choose service providers carefully and thoughtfully – providers who can offer cost-effective dedicated servers of a high standard. This would help them to effectively capitalise on the opportunity for high performance, and help them to plan, decide and invest intelligently in AI infrastructure.
2. Solution and Business Model
XTblock’s core proposition is a high-performance, easily adoptable blockchain platform to revolutionise every business and industry
For those who primarily operate in any of these industries or sectors…
- Banking, Financial Services & Insurance
- Energy & Utilities
- Healthcare and Life Sciences
- Media & Entertainment
- Retail & Consumer Goods
- Travel and Transportation... (etc.)
These are some of the biggest data and computing challenges:
Data Security – Average cost of a data breach in 2020 is $3.86 million*, with several breaches costing over $50 million
Data Processing and Storage – Very significant CapEx and OpEx amounting to billions of dollars is spent each year
Scalability – Centralised systems are hard to scale (up or down), and require considerable investments and technical resources
Data Traceability and Transparency – Centralised IT systems are not immutable, so records can be altered or falsified
Source: *IBM and the Ponemon Institute
Blockchain is a far superior way to address many of these issues, because:
- It makes it difficult or extremely hard to change, hack or cheat the system
- Data cannot be held hostage for a ransom
- Blockchain also effectively addresses issues related to network disasters, human error, and software bugs
So what is stopping many industries and enterprises from adopting blockchain?
BMW, Credit Suisse, De Beers, Honeywell, HSBC, Nestlé, Samsung and others have already adopted blockchain, based on its current capabilities.
However, current blockchain platforms have certain limitations:
- Cannot handle high transaction volumes
- Cannot scale effectively with an enterprise’s needs
- High costs to develop, deploy and maintain blockchain applications
Platforms such as IBM’s Hyperledger, Ethereum and others are all trying to solve the problem.
XTblock’s unique capability and approach
In addition to the standard benefits of blockchain, XTblock can deliver:
Because of our subscription model, there will be no CapEx that our clients need to commit to (unless a private network setup is requested). Subscriptions will allow several times lower costs than when using other blockchains. On-premise networks are also possible for large corporations at competitive pricing. Our Platform Terminal App will help to reduce DevOps costs
Unlike other platforms, XTblock’s architecture is fully scalable to deliver the computing performance our clients need, which can be attributed to our supercomputer architecture – simply subscribe to higher TPS speeds, or drop to lower speeds through a few clicks in the Platform Terminal App without the need to configure the entire network again (to save time and cost).
Quick and simple
Using the Platform Terminal App means there is no need for complex network configuration as seen with other platforms. Developers will want to (and love to) use the Platform Terminal App, because it makes DevOps easier, simpler and faster – with powerful features and an easy-to-use interface.
Our Platform Terminal App
Our Platform Terminal allows you to flexibly define Data Structures and Business Flows with theSmart Contract programming function on our platform.
The differences between the Competition and XTblock
The tech giants
|XTblock (BSP – Blockchain Service Provider)
| - Sell Blockchain Nodes – Cloud Hosting
- Limited Scalability
|- Sell blockchain speeds via subscription (like an ISP sells bandwidth packages)
|Complex DevOps Steps:
- Purchase nodes (expensive)
- Configure network
- Build blockchain application
- Deploy application to network
- Maintain network with sys-admin
- Reconfiguration required to scale up/down
|Simpler DevOps Steps:
Various speed packages will be available from XTblock, and we believe that there is a 90% possibility that costs can be lowered, often very significantly.
- Purchase affordable speed packages
- Build blockchain application
- Publish application
- Scale up/down as per business needs (no reconfiguration required)
XTblock’s Subscription-based Business Model
*Tentative Pricing which is subject to be changed due to market demand.
- 5 XTT for 5tps/mo
- 10 XTT for 10tps/mo
- 20 XTT for 20tps/mo
- 50 XTT for 50tps/mo
- 100 XTT for 100tps/mo
- 200 XTT for 200tps/mo
- 500 XTT for 500tps/mo
- 1k XTT for 1k tps/mo
- 2k XTT for 2k tps/mo
- 3k XTT for 3k tps/mo
- 4k XTT for 4k tps/mo
- 5k XTT for 5k tps/mo
- 20k XTT for 20k tps/mo
- 1k XTT for 100tps/mo
- 2k XTT for 200tps/mo
- 5k XTT for 500tps/mo
- 10k XTT for 1k tps/mo
- 20k XTT for 2k tps/mo
- 30k XTT for 3k tps/mo
- 40k XTT for 4k tps/mo
- 50k XTT for 5k tps/mo
- 1M XTT for 100k tps/mo
- ‘XTT’ refers to XTblock’s token, which is required to purchase services on the XTblock blockchain network
- Packages are dynamic and limited by the state of every network.
- While the above shows subscription rates for shared services, a private blockchain network can also be set up on request.
- To provide a holistic benefit to our network nodes’ operators, we also have Network Routing and Network Storage fees which will be determined by community voting at a later stage.
3. Use Cases
Potential use case examples:
Example for Large-Enterprises
While XTblock’s blockchain platform can be used by developers, small businesses and global corporations alike, this example illustrates its ability to solve some of the toughest technological challenges of multinational corporations. It describes the solution currently in use, and the advantages of using XTblock as an alternative.
Organisation: International Food & Beverage Giant, employs 250,000 people worldwide
Uses blockchain for: Food supply chain management
How the organisation is leveraging the benefits of blockchain:
One product the F&B giant uses blockchain technology for is a premium coffee brand. Through blockchain recorded data, buyers of the coffee will now be able to trace the coffee back to its different origins. Importantly, this transparency, traceability and trackability also enhance supply chain efficiencies, while helping to ensure freshness, sustainability, reduction of waste and prevention of food fraud.
How it works:
To use the solution to trace food products, data on food products needs to be uploaded to the network by participants. Additionally, data sources can be added to extract custom details. For instance, cold chain data and analyses can be pulled from temperature and humidity sensors, IoT devices, RFID, and more. At any given point in time, the number of ‘transactions’ (an event that updates the data store) could number in the thousands, depending on how many entries are being uploaded to the network and how much data is being fed into the network by IoT devices, RFID etc. And this is for just one product. Several products on the blockchain would require, potentially, tens or hundreds of thousands of transactions per second.
A solution such as this would currently cost several hundred thousands of dollars – or potentially millions of dollars – per month.
But the fact that XTblock has developed, very importantly, a scalable architecture, means that the volume of transactions desired can scale dramatically to tens or even hundreds of thousands of tps, cost effectively.
Potential Example of Use of XTblock Distributed AI and Blockchain (Traffic Management in Smart City)