New Solution for Online Transactions by IntellSphere Allows to Connect and Manage all Associative Input Transactions to a Single Output Transaction

IntellSphere Inc. Mar 12, 2019

Press Release Summary:

Allows to fully automate an execution of multi-steps contracts with a possibility to track them on every step as well as to promptly identify and extract any transaction data
Solution eliminates any third party that is not a participant of transaction contract
Smart transactions box features atomicity, consistency, concurrency and permanency

Original Press Release:

Recently IntellSphere Have Created a Solution for Faster Contract Conditions Tracking

It makes it easier to operate in cases, where many predetermined steps are used and many parties need to achieve an agreement.

Solution for online transactions created by IntellSphere team is ACCP-based (Atomicity, Consistency, Concurrency, Permanency). This would allow:

To connect and manage all associative input transactions to a single output transaction
To eliminate any third party that is not a participant of transaction contract
To fully automate an execution of multi-steps contracts with a possibility to track them on every step
To promptly identify and extract any transaction data
To dynamically scale a transaction network proportionally to the amount of its active participants

Like the multipolar neuron, the box has many input channels and only one main output channel. We can illustrate it this way:

Manageability of the box is realized through embedded voting system. The voting system allows parties of the contract to dynamically adjust any disputes between each other.

How will consensus be achieved?

IntellSphere proposes a new innovative mechanism, “Proof of Participation” (PoP), main focus of which is on an economic activity of participant of a network. The network that is based on two technologies, “Smart Transactions” and “PoP” is called as a Neural Chain Network (NCN). In NCN, “PoP” is the main mechanism that deters a denial of service attacks and used for mining neural associative blocks. In compared with PoW, the obvious advantage is a focus on a participant’s economic activity not for their money or equipment-based status.

As mentioned earlier smart transactions box has four features:

Atomicity - guarantee that all the contract-associated transactions will be executed “in all or nothing
Consistency guarantees that all transactions will strictly be conformed to a signed contract
Concurrency guarantees that any input transaction will be executed on a “First-Come-First-Served” (FCFS) basis
Permanency guarantees that immediately after execution of any transaction all the related data will be stored without possibility of future change

In case you want to take part in IntellSphere product testing, you can send a message to info@intellsphere.com