In 2022, Bitcoin is no longer something breakthrough. New projects with unique features that offer significant advantages in transaction speed and cost are entering the scene. One such blockchain project is 5ire.
5ire’s primary goal is to create 5ireChain, a user-centric sustainability-driven blockchain. This is achieved by embedding sustainability both in 5irechain’s base layers and in the upper decision-making that democratically commands the network.
Let’s talk more about the product features and the team’s vision.
Security
a. homomorphic encryption
The 5ire team offers unique homomorphic encryption so that users don’t have to worry about the security of their data. All nodes running on the 5ire blockchain process transactions with encrypted data, which means no data leakage is possible.
b. hardware root of trust
5ireChain uses TPM chips on nodes to ensure that nodes are not running malicious code or activities. This approach provides a secure infrastructure for builders and developers.
Scalability
transaction pools
5ireChain uses unique distribution of transactions based on wallet addresses, where each transaction pool serves unique addresses. This is similar to parallel processing, which reduces the time spent on the same processes in sequential execution. In the case of 5ire, transactions are processed through nested chains.
Decentralisation
proof of 5ire
5ireChain will be the first blockchain to have sustainability embedded in the network base layers. Validators’ reputation will depend on the quality of service they provide, including the number of sustainable and ESG practices. A more sophisticated voting protocol has been implemented to achieve maximum decentralization. This eliminates the possibility of centralization or cartelization. This is a completely new consensus method. 5ire is decentralization!
In my opinion, the team took questions about building a secure and usable blockchain very seriously. It fully respects the canons at the origins of cryptocurrency (see Decentralization section), and the fact that the team plans to reach 1 billion users by 2030 shows that they are serious about their long-term plans. Looking forward to new interesting product!
