TECHNOLOGY OVERVIEW

Blockchain Infrastructure

The THAT blockchain will initially operate on a Proof-of-Authority (PoA) consensus mechanism, chosen for its suitability for new blockchain networks, offering stability and security during the early stages of development. Once the network reaches sufficient maturity, it will transition to a Proof-of-Stake (PoS) consensus mechanism to enhance decentralisation and governance, providing a more distributed and community-driven network.

• Genesis Consensus Mechanism: Proof-of-Authority (PoA) is used to ensure initial stability and security, making it ideal for the early stages of the THAT blockchain’s development.

• Future Consensus Mechanism: Proof-of-Stake (PoS) will be adopted to enhance decentralisation and governance, promoting a more community-driven and distributed network.

Blockchain Configuration

These key configuration attributes of the THAT blockchain are designed to support business objectives:

• Block Period: 4 seconds. This period balances transaction speed and data management, ensuring near-instant confirmations while preventing overly excessive data accumulation.

• Block Rewards: A static amount per block to incentivise validators to secure the network (see CURRENCY & ISSUANCE)

• Gas Fees: Minimal fees to encourage frequent transactions (see FEES)

Smart Contracts

Smart contracts automate and secure a wide range of functionalities, providing transparency and reducing the risk of fraud. In the THAT ecosystem, they are essential for various applications:

• Self-Executing Contracts: Implemented to automate business logic and transactions without intermediaries, ensuring efficiency and security within the ecosystem.

• Decentralised Exchange (DEX) Contracts: Used to facilitate seamless trading on decentralised exchanges, enhancing liquidity and user experience.

• Vesting Contracts: Applied to issue tokens to early presale contributors, founders, team members, and the company, ensuring transparent and automated distribution.

• Support for Complex Financial Instruments: Smart contracts manage advanced financial instruments such as derivatives, lending protocols, and automated market makers, providing flexibility and advanced functionality within the THAT ecosystem.

Security

Security is a fundamental aspect of the THAT blockchain, employing advanced cryptographic techniques to protect transactions and user data. This is crucial for maintaining trust and reliability within the ecosystem.

• Advanced Cryptography: THAT utilises state-of-the-art cryptographic algorithms to secure transactions and protect user data, ensuring privacy and integrity.

• Multi-Signature Wallets: Support for multisig wallets will be implemented through smart contracts, requiring multiple keys for authorising transactions, reducing the risk of fraud and enhancing security.

• Hardware Wallet Integration: Support for hardware wallets will be introduced, providing secure offline key storage and adding an extra layer of security against online threats.

Interoperability

THAT is designed with interoperability in mind, enabling seamless integration with other blockchains and financial systems. This enhances the overall utility and flexibility of the THAT ecosystem.

• Cross-Chain Compatibility: To enable cross-chain asset transfers and data sharing, THAT has collaborated with Kaleido to support cross-chain bridging. This allows users to bridge their tokens to Polygon and interact with decentralised applications (dapps), decentralised exchanges (e.g., Uniswap), and smart contracts on the Polygon network. Future plans include support for Ethereum, Binance Smart Chain, and other chains. We are committed to enhancing cross-chain compatibility by integrating multiple bridging solutions for maximum flexibility and accessibility.

• Flexible Cloud Infrastructure: THAT blockchain nodes are compatible with various cloud services and operating systems, ensuring flexible deployment and management options. This compatibility simplifies deployment and ensures the blockchain can run in diverse environments.

• Application Integration: The THAT app integrates seamlessly with various financial services and tools for business owners, providing merchants with a unified platform to manage their digital assets, track transactions, and interact with multiple decentralised apps.

THAT App - User-Friendly Interface

The THAT app is designed to be intuitive and accessible, catering to both novice and experienced users. It offers a seamless experience for managing digital assets and conducting transactions.

• App Availability: Available on both iOS and Android platforms, ensuring broad accessibility and enabling users to manage their assets from their mobile device.

• NFC & QR Code Payments: Facilitates easy and secure transactions through near-field communication (NFC) and quick response (QR) codes, making it convenient for users to make payments and interact with merchants.

• Business & User Tags: Utilises @username tags to facilitate easy and efficient transactions for merchants and customers, simplifying the transaction process and enhancing user experience.

Native Cryptocurrency and Stablecoins

THAT features its native coin, designed for transactions within the ecosystem, alongside various stablecoins to ensure business suitability.

• Native Coin: Facilitates internal transactions within the ecosystem, providing a seamless and efficient means of exchange.

• Stablecoin Support: Supports various stablecoins (available through bridging) to provide stability in business contexts, helping to mitigate volatility and ensure predictable transaction values.

Global Rewards System

THAT includes a global cryptocurrency rewards system designed to incentivise participation and foster loyalty within the ecosystem.

• User Engagement Incentives: Rewards users for active participation and engagement with various features of the platform, such as transactions, referrals, and activity milestones, encouraging continuous involvement.

• Loyalty Rewards: Provides ongoing rewards for loyal users, enhancing retention by recognising and rewarding long-term commitment to the ecosystem.

NFTs and Marketplace

THAT will develop a comprehensive NFT minting engine and marketplace to enable the creation, trading, and management of NFTs, enhancing both user and business experiences.

• Minting Engine: To facilitate the creation of NFTs, allowing users to easily mint their unique digital assets with customisable attributes and metadata.

• Dedicated Marketplace: To offer a platform for trading NFTs, enabling users to buy, sell, and exchange their digital assets within a secure and user-friendly environment.

• Business/Merchant NFTs: To enhance offerings for businesses and merchants by allowing them to create and distribute dedicated NFTs, which can be used for promotions, loyalty programs, and exclusive content, thereby increasing engagement and revenue opportunities.

Regulatory Compliance

THAT adheres to stringent regulatory standards to ensure compliance and build trust within the ecosystem.

• KYC (Know Your Customer): THAT implements robust user identity verification processes to ensure that all participants, particularly businesses and presale participants, are authenticated, enhancing security and trustworthiness.

• AML (Anti-Money Laundering) Regulations: THAT adheres to comprehensive AML regulations to prevent money laundering and illicit activities, ensuring a secure and compliant environment for all transactions, particularly when dealing with digital currency exchanges.

Future Developments

THAT is continuously evolving, with plans for new features and enhancements to improve user experience and expand the ecosystem.

• Merchant Network Expansion: Plans to broaden the merchant network, enabling more businesses to accept THAT and participate in the ecosystem.

• Financial Services Integration: Aims to integrate additional financial services, offering users a comprehensive suite of tools for managing their digital assets.

• Transaction Efficiency and Security Enhancements: Continuously improves transaction efficiency and security to ensure fast, reliable, and secure transactions.

• Social Connectivity Features: Plans to introduce social connectivity features, such as in-app messaging, to foster community engagement and interaction.

For more details about the THAT BLOCKCHAIN, THAT APP (DIGITAL WALLET), THAT NFTs and upcoming features outlined in the ROADMAP, please refer to the respective sections in this whitepaper.