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Greetings from the PARAMETA Team,

In the last post, we introduced the main components of the Parameta Framework: Core Engine, Governance and Token Economy, and Interchain. In this post, we will introduce several basic services and developer support and management tools to support various businesses on the blockchain platform.

* See the previous post

Introduction to the Parameta Framework 1 – What is the Parameta Framework?

Introduction to the Parameta Framework 2 – Key Components (1)

Decentralized Exchange, DEX

Most mainnets nowadays offer DeFi services, and the foundation of these services is the DEX, or decentralized exchange. Literally, it is a service that allows you to exchange tokens in a decentralized form instead of a centralized cryptocurrency exchange, and the exchange of tokens is done automatically according to certain rules. If you build a mainnet, you can have various tokens on top of it, and you need a platform to exchange them with each other.

The Parameta Framework supports smart contracts with DEX functions. With a little configuration and liquidity supply, you can automatically exchange tokens, and if you connect them with a bridge, you can exchange them for listed tokens on other blockchains, achieving an effect similar to listing on an exchange.

Private Key Storage/Management Vault, Secret Sharing

One of the big differences between a blockchain and a typical service or program is the private key. The authentication of all ownership or acting entities is verified by the signature of the private key. Therefore, you create a private key, have it locally, and perform all actions using the private key. However, if you lose this private key due to loss or theft of the device, it is impossible to recover it. This is what makes private keys so unique and secure.

* Source: Yonhap News Agency (https://www.yna.co.kr/view/AKR20210704028000009)

​However, in the real world, there is a possibility of losing a private key, so you need to be prepared for it. This is not a feature of the blockchain core, but an additional feature that needs to be provided, so you need to build a separate solution instead of providing it with the blockchain.

The Parameta Framework also provides a solution for private key backup and recovery. The Vault solution provided by the Parameta Framework utilizes Secret Sharing technology. Secret Sharing technology is a technology that divides secret information into multiple clues and backs up to different server repositories, and then restores them when necessary by receiving clues above a threshold. If the original cannot be recovered unless these multiple clues are gathered above the threshold, it cannot be inferred with partial clues, so it is unlikely that the private key will be leaked unless the server repositories collude.

The Parameta Framework provides an SDK that can divide secret information into clues and restore it again using Secret Sharing technology, and can be applied to wallet implementation. In addition, it participates in the operation of server storage to ensure that fragmented clues are stored safely.

Block Explorer & API

A blockchain stores TXs, TX execution results, and status data, but it is not stored in a format that is easy for users to view or query, so we usually provide reconstructed data under the name of Block Explorer or Scanner. It organizes block information, transaction information, smart contract information, etc. in an easy-to-view or easy-to-retrieve format, and also provides additional information or statistical information such as token information, token owner list, etc.

The Parameta Framework also provides an Explorer and a backend API server that can provide these data quickly and easily.

Blockchain Wallet

Wallets on a blockchain are playing a very important role as a point of contact between users and services. While it’s possible to provide a single, unified wallet, this would result in a very inconvenient UX. If you implement a separate wallet for each service, you can configure the UX so that users can use the service conveniently without even realizing that the service is blockchain. Therefore, the Parameta Framework provides an SDK that allows you to implement a custom wallet.

Developer Support Tools

After creating a mainnet, you will create and service dApps on the mainnet, and in order to service many dApps, dApp development itself must be easy and support must be fast.

The Parameta Framework provides the development tools, guides, samples, and SDKs needed to create these dApps, as well as tools to manage blockchain nodes and manage the blockchain. If it is difficult to operate a blockchain node by yourself, we also support proxy operation.

Support for Various Development Languages (Java, Python, (Solidity – coming soon))

In the early days of blockchain, Solidity was an unfamiliar language, and there were many opinions that the VM was slow and difficult to use. Therefore, mainnets that came after Ethereum adopted smart contracts that support various programming languages such as Java, Python, Rust, and C++ rather than Solidity. However, in recent years, as the number of results developed with Solidity has increased, the desire to use the results as they are has also increased, and the demand for Solidity support has also increased.

In response, PARAMETA is planning to further develop loopchain to support Solidity, which is compatible with EVM. Since loopchain is designed to support multiple programming languages such as Java and Python, it is relatively easy to integrate EVM support. In addition, by adding an API server that is compatible with Ethereum, we expect to be able to use Ethereum development tools as they are.

Secure Data Storage for PDS/BFS dApps

You cannot upload large amounts of data or personal information to the blockchain. You cannot upload secret information because it is an open space and is recorded forever, and large amounts of data generate a lot of gas, so there are restrictions on uploading. Therefore, you usually use an off-chain data storage called IPFS. Nowadays, many NFTs use IPFS to mint.

However, IPFS does not guarantee the availability of data. If an IPFS node fails or goes down, the off-chain data will be unavailable.

* Unlike IPFS, data availability can be ensured through distributed storage of off-chain data, which can be used to handle sensitive personal information.

Various distributed storage systems or blockchains are emerging for IPFS to ensure data availability, and we believe that the Parameta Framework also needs this feature, so we will add the distributed storage feature to it.

Even if you don’t build a separate IPFS node, you can perform off-chain data services with guaranteed availability with just a blockchain node. In addition, it is expected that my-data services for personal medical information, which will be the basis of Web3, will be activated in the future, and we believe that it will be useful.

USE-CASE

PARAMETA has been building and operating the ICON public blockchain. We created the Parameta Framework by aggregating the technology and know-how we have accumulated, and we are building a mainnet called HAVAH using the Parameta Framework. HAVAH is an NFT Community Playground project, a mainnet platform that allows NFTs issued on various mainnets to be imported into HAVAH and utilized in games.

As HAVAH requires an interchain to utilize NFTs issued on other blockchains, we are implementing the mainnet with an interchain function in addition to various functions of the Parameta Framework.

* HAVAH utilizes components from the Parameta Framework, including its loopchain, bridges, wallets, and explorers. (https://intro.havah.io/)

Parameta Framework VS.

A blockchain framework with a similar concept to the Parameta Framework is the Cosmos SDK. The core components of the Cosmos SDK are the Tendermint consensus algorithm, modules, and the IBC. The difference is that the Cosmos SDK provides the minimum set, while the Parameta Framework provides more components to build a mainnet right away.

From left to right : PARAMETA-Parameta Framework, Parity(Polkadot)-Substrate, Tedermint(Cosmos)-Cosmos SDK

Since the beginning of its business in 2016, PARAMETA has been building a blockchain R&D laboratory and researching and developing technologies for blockchain services from the blockchain core with the largest and best development team in the domestic blockchain industry. We have been providing private blockchains and services to various places from public blockchains such as the ICON project to public institutions such as the Seoul Metropolitan Government, financial institutions such as the Gold Investment Cooperative, and private companies such as the Gold Exchange, and have accumulated know-how on technology verification and operation.

Although blockchain technology has not yet entered the mature stage and there are still various problems to be solved, we are making progress by overcoming them one by one based on these efforts, and it is now certain that most services will eventually be based on blockchain and Web3. During this transitional period, development must be based on solid foundational technologies so that we can quickly and agilely respond to various environmental changes in the future.

By utilizing the technology we have developed, the experience we have accumulated, and the full-stack products needed to build the mainnet, PARAMETA aims to help many companies quickly transition to Web3. As a collaborative partner, not just a technology provider, we plan to develop our business in the form of joint cooperation to create an ecosystem together, from consulting to token economy, so we ask for your interest and support.