Why another Blockchain platform

Why we created Shine.

First generation blockchain platforms

1. Bitcoin forks such as Multichain, which enables easily setting up enterprise blockchains which only help securely sharing data without the ability to write smart contracts.

2. Ethereum – First smart contracting platform, but very slow transaction speeds (only 7tps).

Second generation Blockchain platforms

1. Corda

USP:

• Enabling privacy of transactions between two parties.

• Widely used in financial services across the world.

Drawback:

• Biggest drawback is that Corda isn’t really a blockchain, more just Distributed Ledger Technology with p2p transactions between multiple parties.

• The other drawback is the costs involved with the enterprise versions.

2. Hyperledger

USP:

• Highly flexible and very popular for supply chain applications.

• Large community, with different implementations and PoCs.

Drawback: Highly complex to use.

3. Enterprise Ethereum Alliance

USP: This is basically Ethereum, but running on a private network. It has all the advantages of Ethereum – easy smart contracting language, highly flexible, longest lasting smart contract based Blockchain platform.

Drawback: Biggest drawback is the slow transaction confirmation times, even in private networks.

New Blockchain platforms

1. EOSIO

USP:

• Largest blockchain platform worldwide in terms of number of transactions.

• Potential scalability to 10,000TPS with very fast transactions

• Standard account names with Proof of Authority based consensus

• On-chain contract ABIs with built-in support for contract upgradability — making smart contracts more transparent and easy to use by client software.

Drawback: Difficult to setup and connect.

2. Parity

USP:

• Multi-blockchain interoperability.

Drawback:

• No usage till now, very new.

3. Solana

USP: Fast transactions.

Drawback: No usage till now, very new.

4. Ontology

USP: Mainly used within China for various use cases.

Drawback: Lack of documentation and bad user experience.

Sector specific Blockchain platforms:

1. Vechain – Food traceability 2. IBM Tradelens – Trade finance 3. IOTA – Blockchain system for IOT devices. 4. Ripple – Remittance based Blockchain.

Shine

Shine has modified the EOSIO protocol to enable a Proof of Authority based consensus mechanism with standardized smart contracts to make deployment easier. The USP of Shine is however not just the customization of the EOSIO protocol but also in creating the entire middleware for use by any Blockchain platform (as of now it’s applied to EOSIO). This middeware consists of account management, managing permissions, creating microservices for quick communication with the Blockchain. These features include, but are not limited to:

1. Database: Using Mongodb, Shine has created a seamless way to both fetch data from the Blockchain and push data to the Blockchain. This allows integration of all data from the blockchain, hence syncing the blockchain in real time.

2. User login and authentication: Shine has created libraries that enables easy user login and authentication from both mobile and web through its account management middleware. This handles all communication with the blockchain, and has the ability of social key recovery, which is unique to EOSIO wherein accounts and private keys are different allowing for an equivalent of forgot password for Blockchain.

3. Node maintenance: Shine is easy to deploy, host, and maintain with our APIs that makes communication with the blockchain and hosting the data seamless.

4. Dashboards: Request for customized dashboards for different participants. Minimize user wait times when syncing with the Blockchain from minutes to seconds.

Moreover, most Blockchain implementations focus only on the Blockchain layer while ignoring the other layers such as:

1. Full-stack Blockchain: SHINE comes as a full-stack solution - backend databases, Blockchain, front-end web-app and mobile app. This enables ease of use for any kind of supply chain traceability that would be required.

2. Mobile+Web: SHINE has a layer on top of the Blockchain which analyses data coming from the blockchain into dashboards and shows admins and each user of the system.

3. IoT sensors: Shine comes with IoT sensors as part of its offering which seamlessly integrates with the supply chain to measure temperature, humidity, proximity, pH, chemicals, and other required metrics.

4. AI/Machine-Learning: SHINE enables the integration of AI/ML for supply chain participants to make smart decisions on aspects such as demand forecasting.

These features enable the ease of development and deployment of a Blockchain. Furthermore, when looking at a strong traceability solution, all of the above provides an overall solution for traceability.