THAT BLOCKCHAIN

This section covers the technical foundations of the THAT blockchain, including its infrastructure, consensus protocols, security measures, and interoperability features.

THAT is a native cryptocurrency with its own dedicated blockchain network. The primary aim of the THAT blockchain is to serve as a reliable distributed ledger platform for payments and transactions. Designed to meet the daily needs of millions of merchants and consumers worldwide, THAT primarily operates on its independent blockchain. While THAT can be bridged to other networks, its full benefits are best realised on its native blockchain

THAT Blockchain Core Requirements

• Rapid Transactions: Maintain high speeds even during peak volumes.

• Inexpensive Transactions: Ensure minimal costs to encourage widespread usage.

• Scalability: Handle millions of transactions daily with ample data storage.

• Security: Guarantee the safety of funds and financial data.

• Interoperability: Seamlessly integrate with leading blockchain exchanges.

THAT blockchain is designed to comprehensively address these requirements, building upon the lessons and learnings of existing projects and research. Initially forked from the Ethereum blockchain repository, the THAT blockchain has been customised to function as its own independent network.

Why Fork the Ethereum Blockchain?

• Future-Proofing: It is our belief that Ethereum’s advancements and it's large developer community position it to technologically surpass competing blockchains.

• Adoption: Ethereum boasts the highest adoption rate among blockchains, demonstrating strong community support for it's technological roadmap and vision.

• Robustness: Ethereum’s high transaction volume demonstrates extensive testing and reliability.

• Energy Efficiency: Ethereum’s flexible architecture supports consensus mechanisms that reduce energy consumption by over 99% compared to PoW chains, promoting sustainability.

• Security: As the most battle-tested mainnet chain, it offers strong protection against attacks.

• Interoperability: Widespread EVM adoption allows seamless integration with third parties, dApps, and centralised exchanges

THAT leverages the innovation of the public Ethereum community, complemented by internal enhancements tailored to specific project needs. For a deeper understanding of the technical aspects of the THAT blockchain, familiarity with the Ethereum whitepaper is beneficial.

Network Infrastructure - Nodes and Validators

Nodes and validators are the backbone of the THAT blockchain network. Nodes maintain a copy of the blockchain, validating and relaying transactions to ensure data integrity and network security. Validators confirm transactions and add them to the blockchain, incentivised by block rewards and transaction fees, promoting network stability. The THAT blockchain will natively fund and incentivise the expansion of the validator network. Decentralised validators ensure no single entity can control the network, maintaining its integrity and trustworthiness.

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

Initially, the THAT blockchain will operate a “permissioned” implementation of the Ethereum protocol, where node/network participants use authenticated identities backed by digital certificate chains. This trust and transparency enable maximised transaction finality and speed through an efficient PoA consensus algorithm, which is otherwise unavailable to a public/anonymous chain. Validator nodes will efficiently execute, sync, and maintain transaction records, ensuring rapid consensus. The THAT blockchain will initially be deployed by the THAT company in a world-class environment, maintaining business continuity with robust business processes.

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

As network support and participation mature, the THAT blockchain will transition to a Proof-of-Stake (PoS) consensus protocol. This transition to a public, permissionless PoS consensus mechanism will balance speed, scalability, decentralisation, and security. Validator owners will stake THAT as collateral, earning the opportunity to validate blocks and enhance the network’s reliability and security. This protocol enables high transaction throughput, low latency, and anonymous participation in network support while remaining highly energy-efficient compared to the Proof of Work (PoW) protocol used in other blockchains.

Security and Immutability

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 the THAT blockchain.

Cross-Chain Interoperability

THAT is designed for interoperability, featuring cross-chain bridges that enable seamless interaction with other blockchain networks. At launch, cross-chain bridging will support transferring THAT to and from the Polygon Network, with plans to expand compatibility to additional networks, ensuring broad accessibility and integration.

Looking Forward

THAT blockchain is committed to continuous improvement, leveraging cutting-edge technology and industry best practices to create a robust, secure, and scalable platform for digital transactions. By addressing critical challenges in blockchain technology and focusing on user-centric solutions, THAT aims to lead the future of digital currency and blockchain innovation.