Introduction to Hyperchain

Introduction to Hyperchain

Basic information of the company

Hangzhou Qulian Technology Co. , Ltd. was established in 2016 with all core team members graduated from Zhejiang University with Ph.D degrees. At present, there are over 130 employees, and more than 90% of which are technical professionals, 6 with Ph.D and more than 80 with Master's degrees. Professor Chen Chun, academician of the Chinese Academy of engineering, serves as the chairman of the board. Up to now, Qulian has received around 220 million USD financing.

The core product of Qulian, named as Hyperchain, is the first consortium blockchain platform in production for the core banking system in China. And it is also the first blockchain platform that has passed the national standard test of MIIT, China. Till now, it has been applied in more than 10 large and medium sized financial institutions.

Technical Architecture

@Figure 1 Architecture of Hyperchain Figure 1 shows the architecture of Hyperchain. At the bottom layer, Hyperchain provides support for physical machines in private data center as well as mainstream cloud platforms. Hyperchain nodes can form a local blockchain cluster or a BaaS cloud platform depending on their owners' choice. In the middle layer, Hyperchain implements core modules of consortium blockchain, which include consensus algorithms, smart contract execution engine, security mechanism and so on. On the top layer, Hyperchain provides visualized monitor, operation and management tools to help administrators maintain blockchain nodes and smart contracts.

Distinguishing Features

Compared with other blockchain platforms, Hyperchain has five main distinguishing features:
- High performance Hyperchain takes advantage of high performance robust byzantine fault-tolerant consensus algorithm (RBFT), and native smart contract execution engine. Its throughput can achieve more than 10k txs/s with latency within 300ms. It can further improve its performance by using hardware acceleration techniques (GPU/FPGA) to speed up signature validation process.
- High availability Hyperchain proposed data failure recovery mechanism to improve the scalability of each blockchain node. It also proposed dynamic node management algorithm to improve the availability of the consensus network.
- Scalability Hyperchain supports the extension of data storage, and periodical data archiving, which can keep the online data scale in a relatively stable scope.
- High security Hyperchain implements a pluggable multi-level encryption mechanism which allows to choose different encryption to different scenarios. It employs distributed certificate authority to achieve permission security.
- Convenient Operation and Management Hyperchain provides visualized platform for block and node monitoring, node configuration, contract management and business data visualization.

@ Figure 2 Product Comparison Figure 2 shows the comparison of hyperchain to other blockchain platforms. As a consortium blockchain platform, Hyperchain implements RBFT consensus algorithm, which can tolerate byzantine faults. It uses VM-based contract engine and consensus approval based permission control, which can achieve better security. Hyperchain also has better performance and more complete functions such as data archive and visualization.

Customers and Use Cases

@ Figure 3 Customer List Figure 3 shows the customer list of Hyperchain, and most of them are large financial institutions in China. These institutions built blockchain applications based on Hyperchain. And the application scenarios include Digital Draft, E-Receipt, Supply Chain Finance, Equity Trading, Bond Trading etc.