1. Introduction

HYFI Blockchain is a zero-gas, permissioned, legally compliant Layer 1 blockchain designed to facilitate the tokenization of real-world assets (RWAs) and provide sophisticated financial instruments, robust data authentication, and AI-driven oracles.

1.1 HYFI Use cases & Solutions

  1. Real World Asset (RWA) Tokenization: Enabling the creation of digital tokens representing physical & financial assets, thereby unlocking liquidity & facilitating fractional ownership.
  2. Creating & verifying digital signatures: Providing secure generation of keys and creation & verification of digital signatures to ensure the integrity & authenticity of data and digital documents.
  3. Proof-of-Existence & Proof-of-Integrity: Providing secure storage of hashes to provide immutable proof-of-integrity and proof-of-existence of trade secrets, ideas, music, source code, digital assets, original creations, confidential documents, wills, and more.
  4. Lending & Borrowing: Facilitating peer-to-peer (p2p) lending and borrowing of tokenized assets, leveraging the blockchain for automated and trustless transactions.
  5. Derivatives based on tokenized RWAs: Supporting futures, options, and swaps based on tokenized RWAs, allowing sophisticated financial instruments and hedging strategies.
  6. Crypto Indexes: Creation & management of indexes tracking the performance of various crypto assets.
  7. Index Funds: Offering diversified investment products based on crypto indexes.
  8. HYFI-ABC: Integrating AI, Blockchain, and Crypto (ABC) functionalities into NFC-compatible chips, enabling contactless crypto payments, tokenization & fractional ownership, NFT, anti-counterfeiting, provenance tracking & more.
  9. Decentralized Startup Shares Oracle: Leveraging artificial intelligence and blockchain technology to provide transparent and accurate valuations for startups and unlisted companies.
  10. HYFI Identity Tokenization Service (HITS): Blockchain-based digital identity management and asset representation.

1.2 HYFI consensus mechanism

HYFI Blockchain is powered by the multichain framework where consensus is based on block signatures and a customizable round-robin consensus scheme.

This addresses the centralization risk associated with permissioned blockchains by imposing a round-robin schedule for block generation among approved miners.

The security and robustness of the network increase with the number of participating nodes.

Block signatures are embedded inside the OP_RETURN metadata of the coinbase transaction, using a regular bitcoin-style signature format. The payload signed by the block creator is the full block header, with some modifications.

1.3 HYFI CLI Wallet (non-custodial)

HYFI Blockchain provides a Command-Line Interface (CLI) wallet designed to offer a powerful and flexible tool for managing blockchain operations.

A CLI wallet is a tool that enables users to interact with the blockchain using command-line commands rather than a graphical user interface (GUI). This type of wallet is particularly favoured by developers, blockchain administrators, and advanced users who require precise control over their blockchain activities.

CLI wallets provide a direct interface to the blockchain, allowing for the execution of complex commands and scripts that can automate and streamline various blockchain processes.

1.4 Types of HYFI Nodes

The HYFI Blockchain utilizes various node types to ensure a secure, scalable & efficient network. Each node type serves a unique function, enhancing the blockchain's overall functionality and robustness.

Cold nodes are offline and they secure sensitive information like private keys. They do not validate transactions or generate blocks but enhance security by reducing theft or unauthorized access risks. For more details on cold nodes, see: this.

Validator nodes validate transactions and generate new blocks, participating in the consensus mechanism. They ensure accurate transaction recording and blockchain security. HYFI uses a round-robin schedule among approved miners to ensure fair and balanced participation. To ensure network integrity, a slashing mechanism is implemented. If a node operator engages in malicious activities or fails to comply with network protocols, a portion or the entirety of their staked assets can be slashed. This serves as a deterrent against malicious behaviour and ensures that all validator nodes operate in the network's best interest.

Regulatory nodes ensure transparency and compliance by monitoring network activities in real-time. They enforce regulatory standards & protocols, maintaining the HYFI Blockchain's legal and regulatory compliance. They can be operated only by regulators of FATF compliant countries.

Transaction nodes manage the creation, signing, and broadcasting of transactions. They support comprehensive transaction management, including one-way payments and atomic exchange transactions, providing flexibility and control over blockchain financial operations. They also support digital signature creation and verification as well as proof-of-existence and proof-of-integrity.

1.5 HYFI Metrics & Features

  • Type: Permissioned
  • Layer: 1
  • Block time: 2 seconds
  • Storage limit: 64 MB / transaction
  • Integration: JSON-RPC API Cold Nodes: Available
  • Consensus: Distributed consensus between identified block validators.
  • Legal Compliance: KYC, AML, CFT, Consumer Protection, Data Privacy, Right-to-be-forgotten Regulations, and Freezing of Assets.
  • Data Privacy: Stream Read Restrictions, Fully encrypted p2p connections.
  • External private keys and multi-signatures for all transactions.
  • Hardware Security Modules: Supported
  • Smart Filters: JavaScript
  • Unlimited addresses, assets, streams, transactions, stream items, and nodes.

1.6 Integrating HYFI with other applications

Hybrid Finance (HYFI) Blockchain can be integrated with other applications through its unified JSON-RPC API.

The API for customer applications in HYFI works by providing a secure and convenient interface for developers to interact with the blockchain and build custom applications.

The API is designed to cleanly separate the application from the node and is compatible with any API library developed for Bitcoin Core.

This makes it easier for developers to build applications that interact with the HYFI blockchain and add new functionality to the platform.

The API allows developers to easily access and utilize the various functions and services available in HYFI, such as issuing and transferring assets, managing permissions, and retrieving information about the blockchain and its transactions.

By providing a simple and flexible API, HYFI enables developers to create a wide range of custom applications, from simple web interfaces to complex decentralized applications (dApps), that can interact with the blockchain in a secure and efficient manner.

1.7 HYFI Data Streams

Data streams are a way to securely publish & retrieve items in the blockchain. These items can be visible only to nodes with the appropriate permissions, and they allow for the creation of channels where specific groups of participants can access and interact with certain data.

Data streams provide a mechanism for organizing & managing data within the blockchain in a secure and scalable manner, making it possible for a wide range of use cases, including but not limited to, content distribution, copyright licensing, and secure data sharing.

Technically speaking, data streams enable a blockchain to be used as a general-purpose append-only database, with the blockchain providing time stamping, notarization & immutability.

The Hybrid Finance (HYFI) Blockchain provides ample storage space with each transaction being able to store up to 64 MB of data.

Streams in the system support various data structures such as key-value, identity, and time series, making it easy to store and search for information.

1.8 HYFI Smart Filters

A Smart Filter is a piece of code that is embedded in the blockchain, and which allows custom rules to be defined regarding the validity of transactions or stream items.

Smart Filters are written in JavaScript and run within a deterministic version of Google’s V8 JavaScript engine, which is embedded directly within MultiChain 2.

This is the same JavaScript engine used in Chrome, Node.js, and many other platforms. It offers excellent performance by compiling JavaScript to machine code and optimizing that code as it runs.

For details, see:

2. Setting up a HYFI Transaction Node (testnet)

The HYFI blockchain provides multiple deployment options for users, which are environment agnostic.

This means it can be self-hosted in a data center, public or private cloud. The blockchain can also be accessed as a service, allowing for easy and quick addition of nodes.

2.1 Economic Incentives for Transaction Node Operators

The HYFI Blockchain ecosystem is designed to provide substantial economic incentives to node operators, ensuring the network's robustness and encouraging widespread adoption.

These incentives are crucial for maintaining network security, decentralization, and user engagement.

Transaction node operators play a vital role in maintaining the integrity and functionality of the HYFI network. They are incentivized through the following mechanisms:

Staking Rewards: Node operators can stake 2500 HYFI Tokens (currently US$500) to get a 365 license to run a node. In return, they earn staking rewards starting at 20% annually for the first 100 nodes, decreasing incrementally by 1% for each subsequent batch of 100 nodes until it reaches 0%. This progressive reward system incentivizes early participation.

Node Rewards: In addition to staking rewards, node operators receive NODE tokens equivalent to the value of their staked assets. NODE tokens can be used to pay fees and access discounts on HYFI products and services, providing additional financial benefits.

Performance Bonuses: Node operators may receive additional bonuses based on their performance, uptime, and contribution to the network. This ensures that the most reliable and efficient operators are rewarded accordingly.

2.2 Minimum configuration & basic setup

Setup a server with the following minimum config:

  • 64-bit operating system: Linux (Ubuntu 12.04+, CentOS 6.2+, Debian 7+, Fedora 15+, RHEL 6.2+), Windows (7, 8, 10, 11, Server 2008 or later), Mac (OS X 10.11 or later)
  • 512 MB of RAM
  • 1 GB of disk space
  • Login as root and run these commands:

    You will see something like this:

    Email it to team@hyfidao.com

    When we confirm via email, login to the node and run:

    You should get this response: Node ready.

    Now run:

    You will enter Interactive mode. For general information, such as chain id, burnaddress & port, run:

    To see a list of all available commands, run:

    For a list of connected peers, run:

    For future logins, use:

    For stoping a node, use:

    For re-starting a node, use:

    For the RPC username and password, use:

2.3 HYFI RPC credentials

For API integration, you will need the RPC credentials:

2.4 HYFI Blockchain Explorer

Instructions for setting it up on Ubuntu 20.04:

3. Addresses

Addresses can be custodial (the private key is stored in the node) or non-custodial (the private key is not stored in the node.)

3.1 Address permissions

Each address can have one or more of the following 8 permissions:

  1. connect – to connect to other nodes and see the blockchain’s contents.
  2. send – to send funds, i.e. sign inputs of transactions.
  3. receive – to receive funds, i.e. appear in the outputs of transactions.
  4. issue – to issue assets, i.e. sign inputs of transactions that create new native assets.
  5. create – to create streams, i.e. sign inputs of transactions which create new streams.
  6. mine – to create blocks, i.e. to sign the metadata of coinbase transactions.
  7. activate – to change connect, send, and receive permissions for other users, i.e. sign transactions which change those permissions.
  8. admin – to change all permissions for other users, including issue, mine, activate, and admin.

Address allotment and permissions are significant in HYFI Blockchain as they play a crucial role in consumer protection.

By assigning addresses judiciously and managing permissions, HYFI Blockchain aims to ensure the protection of its users, especially those who are less tech-savvy.

The allocation of custodial addresses and management of permissions can help reduce the risk of unauthorized access or loss of funds, providing a safer experience for users.

When you create a testNet node, your primary address will be granted connect, send, receive, activate permissions.

Here's how permissions are granted:

The output is a transaction ID.

3.2 Address types

Addresses can be custodial (the private key is stored in the node) or non-custodial (the private key is not stored in the node.)

3.3 Creating a custodial address

getnewaddress returns a new address whose private key is added to the wallet. This is a custodial address.

The output is an address.

3.4 Creating a non-custodial address

createkeypairs generates one or more public / private key pairs, which are not stored in the wallet or drawn from the node’s key pool, ready for external key management. These are non-custodial addresses.

For each key pair, the address, public key (as embedded in transaction inputs) and private key (used for signatures) is provided.

3.5 Creating a multi-sig address

3.5.1 Working with non-wallet addresses

createmultisig nrequired ["key", ...] creates a pay-to-scripthash (P2SH) multisig address. Funds sent to this address can only be spent by transactions signed by nrequired of the specified keys. Each key can be a full hexadecimal public key, or an address if the corresponding key is in the node’s wallet.

It returns an object containing the P2SH address and corresponding redeem script.

3.5.2 Working with wallet addresses

addmultisigaddress nrequired ["key", ...] creates a pay-to-scripthash (P2SH) multisig address and adds it to the wallet.

Funds sent to this address can only be spent by transactions signed by nrequired of the specified keys. Each key can be a full public key, or an address if the corresponding key is in the node’s wallet.

Output is the P2SH address

4. Transactions

Transactions can be one-way payments or atomic exchange transactions.

4.1 Sending one-way payments

One-way payments can be sent using sendassetfrom fromAddress toAddress asset quantity

On success, a transaction id will be generated.

You can get a list of all the asset balances for an address using getaddressbalances address

Here's a sample response

4.2 Atomic Exchange Transactions

Atomic exchange transactions are used to safely swap assets between counterparties.

Any MultiChain transaction can have multiple inputs and outputs, and each one can relate to a different address on the blockchain. This enables a single transaction to perform an asset exchange between two or more parties, for example sending a dollar-denominated asset from Alice to Bob, while simultaneously sending a Euro-denominated asset from Bob to Alice.

Because the exchange takes place in a single transaction, it comes with a guarantee of atomicity, meaning that all of the asset transfers take place simultaneously, or none take place at all. In the finance world, this type of transaction is termed delivery-versus-payment, or DvP for short.

5. HYFI CLI Wallet (non-custodial)

HYFI Blockchain provides a Command-Line Interface (CLI) wallet designed to offer a powerful and flexible tool for managing blockchain operations.

5.1 Introduction

HYFI Blockchain provides a Command-Line Interface (CLI) wallet designed to offer a powerful and flexible tool for managing blockchain operations.

A CLI wallet is a tool that enables users to interact with the blockchain using command-line commands rather than a graphical user interface (GUI).

This type of wallet is particularly favoured by developers, blockchain administrators, and advanced users who require precise control over their blockchain activities. CLI wallets provide a direct interface to the blockchain, allowing for the execution of complex commands and scripts that can automate and streamline various blockchain processes.

The primary benefit of a CLI wallet is the level of control it offers.

Unlike GUI wallets, which are designed for user-friendliness and accessibility, CLI wallets provide granular control over blockchain interactions.

This is especially beneficial for advanced users who need to perform detailed operations and require immediate feedback from the blockchain. Additionally, CLI wallets are less resource-intensive, making them suitable for environments where computational efficiency is paramount.

Moreover, CLI wallets can be easily integrated into scripts & automated workflows, enabling the automation of repetitive tasks and the integration of blockchain operations into broader IT systems. This capability is crucial for enterprise environments where efficiency and reliability are essential.

5.2 Features

  1. Blockchain Information Retrieval: The HYFI CLI wallet provides comprehensive commands for retrieving detailed information about the blockchain. Users can query the blockchain for data such as block details, transaction histories, and network status. This functionality is critical for monitoring and analyzing blockchain performance and health.
  2. Network and Node Management: The CLI wallet allows users to manage network settings and node configurations. Users can start and stop nodes, configure network parameters, and monitor node performance. This feature is essential for maintaining the operational integrity of the blockchain network.
  3. Asset Issuance and Management: HYFI's CLI wallet supports the issuance and management of digital assets. Users can create new assets, define their properties, and manage existing assets. This includes setting up fractional ownership, handling token transfers, and managing asset metadata.
  4. Transaction Handling: The wallet facilitates comprehensive transaction handling, allowing users to create, sign, and broadcast transactions directly from the command line. It supports one-way payments and more complex transaction types, ensuring flexibility and control over financial operations on the blockchain.
  5. One-Way Payments and Atomic Exchange Transactions: One-way payments are straightforward transfers of assets from one address to another. Atomic exchange transactions, on the other hand, are more complex operations that allow for the simultaneous exchange of assets between parties without the risk of default. These transactions ensure that either both parties receive the assets or neither does, thus maintaining transaction integrity.
  6. Address and Permissions Management: The CLI wallet provides robust tools for managing addresses and permissions. Users can generate new addresses, assign permissions to various addresses, and manage access controls. This is particularly useful for maintaining security and ensuring that only authorized entities can perform certain operations.
  7. Multisig Operations: Multisignature (multisig) operations require multiple private keys to authorize a transaction. This adds an extra layer of security by ensuring that no single entity can unilaterally control the assets. The CLI wallet supports creating and managing multisig addresses and conducting multisig transactions.
  8. Support for Cold Nodes: Cold nodes refer to nodes that are not connected to the internet, thereby enhancing security for sensitive operations and offline storage. The HYFI CLI wallet supports interactions with cold nodes, allowing users to prepare and sign transactions offline before broadcasting them on an online node. This significantly reduces the risk of cyber-attacks and unauthorized access. For more details on cold nodes, see: this.

6. Tokenizing Assets on HYFI Blockchain

Tokenization converts the rights or ownership of a real-world asset into a digital representation (token) on the Blockchain.Asset tokenization is expected to reach $16 trillion by 2030.

To learn more about Asset Tokenization on the Blockchain, read the Tokenization Playbook by Rohas Nagpal.

The full asset lifecycle in the Hybrid Finance (HYFI) Blockchain encompasses 7 stages of asset management, from creation to eventual redemption or destruction. These stages include:

1. Issuance
This is the first step in the lifecycle of an asset. It involves creating a new asset and issuing it to the intended recipient. The issuer can specify the initial distribution of the asset and any relevant details such as the quantity, denomination, and any associated metadata.

2. Transfer
After an asset has been issued, it can be transferred from one owner to another. This could be in the form of a simple transfer of ownership or a trade on an exchange. In the HYFI blockchain, asset transfer is a secure and transparent process, with the ownership records being securely maintained on the blockchain.

3. Exchange
The HYFI blockchain supports the exchange of assets between different parties. This means that assets can be traded on a centralized or decentralized exchange, making it possible for owners to trade their assets for other assets or fiat currencies.

4. Escrow
In some cases, assets may need to be held in an escrow account during a transaction. For instance, in a transaction involving the sale of a digital asset, the buyer may choose to hold the funds in an escrow account until the seller provides the digital asset. The HYFI blockchain supports secure and transparent escrow transactions, ensuring that assets are only released to the recipient when certain conditions are met.

5. Reissuance
In some cases, an issuer may need to reissue an asset. This could be due to a change in ownership or an error in the initial issuance process. Reissuing an asset in the HYFI blockchain is a straightforward process, and the new asset is created and issued to the new owner while the original asset is destroyed.

6. Redemption
Assets in the HYFI blockchain can be redeemed for the underlying asset or for fiat currency. Redemption can be initiated by the asset owner, who will receive the underlying asset or cash equivalent in return for the token.

7. Destruction
In some cases, assets may need to be destroyed. This could be due to the expiration of the asset or if it is deemed to be no longer necessary. The HYFI blockchain provides a secure and transparent process for destroying assets, ensuring that they are permanently removed from circulation.

When an Asset is tokenized on the HYFI Blockchain, the following parameters can be customized:

  1. the address which is creating the asset
  2. address to which the assets are to be sent on creation
  3. asset name
  4. whether additional units can be created
  5. whether it has per-asset send and/or receive permissions
  6. the smallest transact-able unit
  7. custom-fields parameter to provide extra information

Also see:

6.1 Creating Tokenized Assets

Before issuing the asset, we need the following information:

  1. Issue from: The address from which the asset is to be created. This address must have issue permission.
  2. Issue to: The address to which the newly created asset should be sent. This address must have receive permission. Depending upon the use case, the issue from and issue to addresses can be the same. Once the asset is issued, it can be sent to other addresses as and when required.
  3. Name: Name of the asset - max 32 characters.
  4. Open: If more units can be issued in the future, set as true. Otherwise set as false.
  5. Can open and Can close: Whether to allow the asset to be closed and/or (re)opened for future issuance using the update command.
  6. Restrict: Whether per-asset send and receive permissions are to be enabled.
  7. Total Limit: The maximum total number of units which can be issued. This CANNOT be changed later.
  8. Issue Limit: The maximum number of units per issuance. This CANNOT be changed later.
  9. Quantity being issued: Number of tokens being issued in this transaction.
  10. Asset description: Details of the underlying asset Example:
    • Category: e.g., "RWA", "Crypto", "HYFI Name".
    • Subcategory: e.g., "Tokenized Whisky Cask", "Hybrid Bitcoin", "web3", "Tokenized Equity Shares".
    • Type: Type of asset within the subcategory, e.g., "Scotch Whisky 1st Fill Barrel", "Oil on canvas painting", or blank.
    • Symbol: e.g. "hyBTC, "web3", or blank.
    • Identifier: e.g. Whisky Cask number, or blank.
    • Issuer: Entity issuing the token.
    • Custodian: Entity responsible for physical custody (for RWAs) or digital custody (for cryptos), or blank (for HYFI Names).
    • URL: (Optional) URL to the prospectus, report, or detailed description document.
    • RealTimeDataURL: (Optional) URL to real-time data or updates about the asset.
    • OwnershipHistory: (Optional) List of ownership records with owner, start date, and end date.
    • AdditionalDetails: (Optional) Nested object to hold specific details relevant to different asset types.
    • Notes: (Optional) Additional notes or relevant information about the asset.

Sample code for issuing a tokenized Whisky Cask:

The output is the Issuance Transaction ID

Sample code for issuing a HYFI Name e.g. sanya.web3:

The output is the Issuance Transaction ID

Sample code for issuing a hybrid Crypto e.g. hyDOGE:

The output is the Issuance Transaction ID

6.2 View asset details

listassets displays details of all assets

listassets identifier displays details of asset having the specified name, Issuance Transaction ID, or Asset Reference Number. Examples:

Sample output for a tokenized Whisky Cask:

Sample output for a HYFI Name:

Sample output for a Hybrid Crypto:

6.3 Issue more tokens

You can issue more tokens of an asset using issuemorefrom from-address to-address asset qty (custom-fields). Example:

6.4 Update Asset Parameters

Here are some examples:

The output will be a transaction id.

6.5 Per-asset permissions

For granting per asset permissions, you can use grant address asset.send,receive

Example:

The output will be a transaction id.

For revoking per asset permissions, you can use revoke address asset.send,receive

Example:

The output will be a transaction id.

6.6 Send assets

You can send assets using sendassetfrom sender-address receiver-address asset quantity

Example:

The output will be a transaction id.

You can send assets along with data using sendwithdatafrom sender-address receiver-address asset quantity data

Example:

The output will be a transaction id.

6.7 Transaction details

For all transactions relating to a specific asset, you can use listassettransactions asset

Be sure to subscribe to the asset first using subscribe asset

Example:

The output will be the transaction details. You can also get more details by adding true

For a specific transaction relating to a specific asset, you can use getassettransaction asset txid

Example:

The output will be the transaction details. You can also get more details by adding true

7. Creating & Verifying Digital Signatures

Digital signatures rely on asymmetric cryptography, where a pair of keys (private and public) is used. The private key is kept secret by the owner, while the public key is shared widely.

Digital signatures ensure the authenticity, integrity, and non-repudiation of digital communications & transactions. Utilizing algorithms such as RSA & ECDSA, digital signatures create a secure linkage between the signer's private key and the digital document, generating a unique signature that can be verified using the signer's public key.

This process underpins a variety of advanced applications, including blockchain-based transactions (where ECDSA ensures the validity of crypto transfers), secure email communications (via protocols like S/MIME and PGP), and legally binding document signing in digital workflows.

Moreover, digital signatures are integral to SSL/TLS protocols, enabling secure HTTPS connections by authenticating web servers & ensuring data integrity during transmission. The robustness of digital signatures hinges on effective key management, the strength of the cryptographic algorithms employed, and compliance with legal frameworks governing electronic signatures across different jurisdictions.

Utilizing the HYFI Blockchain for generating keys and creating & verifying digital signatures offers significant advantages in terms of security, efficiency, and compliance. The HYFI Blockchain leverages a zero-gas, permissioned, and legally compliant Layer 1 infrastructure, ensuring that key generation and digital signature processes are both cost-effective and secure.

The blockchain’s robust cryptographic protocols, including support for advanced algorithms like ECDSA, provide strong protection against unauthorized access and tampering. This enhances the integrity and authenticity of digital signatures, making them reliable for high-stakes applications such as financial transactions, smart contracts, and legal document verification.

Moreover, the inherent transparency and immutability of blockchain technology ensures that all signature-related activities are verifiable and auditable, thereby meeting stringent regulatory requirements and fostering trust among stakeholders. By integrating key management and digital signature functionalities into a scalable and compliant blockchain framework, HYFI not only streamlines cryptographic operations but also reduces the risks associated with traditional centralized systems.

7.1 Signing by a custodial address

A message (text or hash) can be electronically signed by a custodial address using signmessage addressOfSigner "message"

The output will be the electronic signature:

An electronic signature can be verified using verifymessage addressOfSigner electronicSignature "message". The output will be true or false.

7.2 Signing by a non-custodial address

A message (text or hash) can be electronically signed by a non-custodial address using signmessage privateKeyOfSigner "message"

The output will be the electronic signature:

An electronic signature can be verified using verifymessage addressOfSigner electronicSignature "message". The output will be true or false.

8. Proof of Existence & Proof of Integrity

Proof-of-Existence involves creating a verifiable timestamp for a specific piece of data without revealing the data itself. This is particularly useful for proving the creation or existence of a document or digital asset at a certain point in time.

By creating a verifiable timestamp for these items using Proof-of-Existence, individuals and organizations can ensure the integrity and authenticity of their important documents and digital assets, providing indisputable evidence of their existence at a specific point in time.

Proof-of-Integrity ensures that a document or digital asset has not been altered since its hash was created and stored on the blockchain. This is crucial for maintaining the trustworthiness and authenticity of data over time.

Here's a partial list of items for which Proof-of-Existence and Proof-of-Integrity can be utilized:

  1. Intellectual Property: Trade secrets, Inventions & innovations, Patents & patent applications, Trademarks & trademark applications, Industrial designs, etc.
  2. Creative Works: Manuscripts & drafts of books, Scripts & screenplays, Music compositions & lyrics, Artistic works (paintings, drawings, sculptures), Photographs and photographic collections, Graphic designs, Digital art & NFTs, Film & video projects, Software code & applications, Blog posts & articles, Architectural designs, etc.
  3. Business Documents: Business plans & strategies, Financial reports & audits, Meeting minutes & agendas, Internal policies & procedures, Marketing & advertising materials, Product designs & prototypes, Client proposals & contracts, etc.
  4. Legal Documents: Contracts & agreements, Wills & testaments, Powers of attorney, Property deeds & titles, Loan agreements, Non-disclosure agreements (NDAs), Employment contracts, etc.
  5. Research and Academic Works: Research papers & reports, Theses & dissertations, Experimental data & results, Lecture notes & course materials, Grants & funding proposals, etc.
  6. Confidential Documents: Medical records & health data, Personal identification documents, Security protocols & passwords, Sensitive communications, etc.
  7. Digital Assets: Cryptographic keys and wallets, Digital certificates, Blockchain transactions, Encrypted data, Software code, NFTs, etc.
  8. Government and Public Records: Birth & death certificates, Marriage & divorce certificates, Voting records, Official government publications, Regulatory filings and submissions, etc.
  9. Others: Personal journals & diaries, Event logs & timelines, Emails & correspondence, Engineering and technical drawings, etc.

8.1 Proof of Existence

Proof-of-Existence involves creating a verifiable timestamp for a specific piece of data without revealing the data itself. This is particularly useful for proving the creation or existence of a document or digital asset at a certain point in time.

  1. The process begins with the generation of a cryptographic hash of the document or digital asset. This hash acts as a unique digital fingerprint of the content.
  2. The hash is then stored on the HYFI Blockchain, along with a timestamp, creating an immutable record that the document existed at that specific time.
  3. For verification, the document can be hashed again at any later date, and the resulting hash can be compared to the one stored on the blockchain.
  4. A match between these hashes proves that the document existed at the relevant time.

To add a hash to the hyfi-proof data stream on HYFI Blockchain, use publish stream key(s) data (options)

The output will be the transaction id

At the time of verification, the relevant data can be obtained by running liststreamtxitems hyfi-proof txid

The output will be something like this:

The blocktime can be converted from Unix Timestamp to normal format using a service like: https://www.unixtimestamp.com

8.2 Proof of Integrity

Proof-of-Integrity ensures that a document or digital asset has not been altered since its hash was created and stored on the blockchain. This is crucial for maintaining the trustworthiness and authenticity of data over time.

The initial step involves generating and storing a hash of the document on the HYFI Blockchain.

For ongoing verification, the document can be periodically re-hashed, and the new hash can be compared to the original hash stored on the blockchain. Any discrepancy would indicate that the document has been altered.

To add a hash to the hyfi-proof data stream on HYFI Blockchain, use publish stream key(s) data (options)

The output will be the transaction id

At the time of verification, the relevant data can be obtained by running liststreamtxitems hyfi-proof txid

The output will be something like this:

The blocktime can be converted from Unix Timestamp to normal format using a service like: https://www.unixtimestamp.com