THAT BLOCKCHAIN

THAT is a native cryptocurrency with its own dedicated blockchain network, known as THAT blockchain. The primary aim of THAT blockchain is to function as a reliable distributed ledger platform for facilitating payments and transactions using THAT, the digital currency. This system is designed to meet the daily transactional requirements of millions of merchants and consumers worldwide. THAT blockchain is the exclusive blockchain governing the native unit of currency, referred to as THAT, which is also sometimes known or referred to as THAT coin or THAT cryptocurrency.

It is essential for THAT blockchain to meet the following requirements:

  • Rapid transactions, ensuring high speeds even at high transaction volumes.

  • Scalability to handle millions of transactions per day with high storage capacity for transaction data.

  • High-level security to ensure the safety of funds and financial data.

  • Interoperability with leading blockchain exchanges.

THAT blockchain is designed to comprehensively address each of these requirements and will build upon the lessons and learnings of existing projects and research. The THAT blockchain has been originally forked from the Ethereum blockchain repository and customised and deployed as its own independent blockchain network.

Why Fork the Ethereum Blockchain?

  • We believe that Ethereum will technically supersede all competing blockchain projects in the long term, and we would like to inherit all the technical advantages and enhancements of the Ethereum project for the long term.

  • Ethereum currently has a higher adoption rate than any other chain.

  • The most volume (of all chains) occurs on Ethereum, indicating it is highly tested.

  • The Proof-of-Stake (PoS) merge has already reduced energy consumption by 99%.

  • The PoS merge has substantially lowered the cost of performing a transaction.

  • Ethereum is one of the most battle-tested, robust, and secure chains on the market.

THAT combines the innovation of the public Ethereum community with internal enhancements tailored to support the specific needs of the project. For a detailed understanding of the technical aspects of THAT blockchain, please refer to the Ethereum whitepaper.

Immediate - Mid-Term Consensus Protocol: Proof-of-Authority (PoA)

Initially, THAT blockchain will provide a “permissioned” implementation of the Ethereum protocol, whereby node/network participants will operate with authenticated identities backed by digital certificate chains. The trust and transparency delivered by the THAT platform during its initial permissioned period will allow for the maximisation of transaction finality and speed via an efficient consensus algorithm (PoA), which is otherwise unavailable to a public/anonymous chain. THAT is deploying its blockchain resources in a world-class environment, thereby maintaining business continuity with its hardened business processes.

Long-Term Consensus Protocol: Proof-of-Stake (PoS)

Once network support and participation reach an adequate level of maturity, THAT blockchain will migrate to a permissionless Proof-of-Stake (PoS) consensus protocol. THAT blockchain will be backed by a public, permissionless, Proof-of-Stake (PoS) consensus protocol to ensure an optimal balance of speed, scale, and security. The Proof-of-Stake (PoS) consensus protocol facilitates consensus among all validator nodes, executing, syncing, and maintaining transaction records. This approach allows for the required speed for consensus and builds trust in the network as validator owners stake their coins as collateral for the chance to validate blocks and become validators. This protocol also enables high transaction throughput, low latency, more security, and a more energy-efficient approach than the Proof of Work (PoW) protocol used in some other blockchains.

Blocks produced are securely protected against tampering through the collection of signatures. Rewriting the block content would be impossible without access to all the private keys of the proposer and the validator nodes, ensuring the immutability of THAT blockchain.

THAT blockchain will natively fund and incentivise the expansion of the validator network.