Blockchain
DeepBD™ is attempting to apply a new and innovative economical model with our ALIA tokens—creating an automated, self-regulating, sustainable economy based on the translation services we call the ALIA Economy. For this explanation, we are ignoring the proof of concept of our underlying technology proposed for our Minimum Viable Product (MVP) ALIA platform which is thoroughly explained and rationalized elsewhere in this whitepaper. Instead we focus on the mechanisms of ALIA token transfers between all users in our proposed economy and the economic model surrounding it.
The ALIA Platform is very near to market and most of the underlying technologies listed in this white paper are at initial operating capability (IOC) or beyond. Cryptocurrency technology is a rapidly changing landscape, and choosing the right blockchain token and trading platform is absolutely critical to the long-term success of the ALIA project. The ecosystem of cryptocurrency markets, distributed ledger technology, and emerging trends has required us to give careful thought as to which blockchain has the capacity to support our software and guarantee future functionality, capabilities and offerings. Several factors that have affected our decision about the how the ALIA tokens must function include:
- Inherent security features
- Preservation of token value
- Fast transactions speeds
- Low transaction costs
- A compatible technological roadmap
- A robust community of users
The ALIA Token will be a permissioned blockchain launched on the Tendermint platform. Tendermint addresses the speed, scalability, and environmental issues presented by current proof-of-work consensus algorithms such as Bitcoin. Proof-of-work consensus algorithms suffer from inhibited scalability and slow transactions speeds that are the result of all the confirmations necessary before a transaction can be considered irreversible. The Tendermint project was the first to conceptually demonstrate a proof-of-stake cryptocurrency and provides the exceptional performance needed for ALIA to provide lightning fast translation computations.
Tendermint’s consensus algorithm can process thousands of transactions per second making it ideal for scaling ALIA’s global public proof-of-stake blockchain. Even better, Tendermint is developer friendly, designed to be easy-to-use, simple-to-understand, and currently offers secure mobile-client payment verification. Launching the ALIA blockchain on Tendermint significantly mitigates risk, reduces development costs, and simplifies time-to-market considerations.