A New Decentralized Node Economy Powered By Distributed Ledger Technologies Event Tracking
Enabling web 2.0 services to listen and react to events on distributed ledgers. TxHash Network allows web 2.0 apps, in a decentralized manner, to track and react on DLT transaction events.
Lack of incentives for non-wealthy DLT node operators
Most DLT networks rely - and are valuated - on robust decentralization of their ledgers, yet they only reward the part of the network that can economically compete to participate. This restricts the operation and maintenance of the network to the wealthiest members of the system, and limits the amount of nodes that can be run in an economically viable manner.
Lack of interoperability between DLT and web 2.0 services
Blockchains and other DLTs exist in their own siloed space, partitioned off from web 2.0 services. Crypto projects are notoriously limited by slow adoption and development, which is a real shame. Just across the border in web 2.0 there are billions of users, to whom we should find ways to introduce innovative DLT concepts and services.
We are creating a completely new economy that incentivizes and rewards blockchain and other DLT node operators, which are currently passive entities and act merely as ledger state witnesses. These previously ignored nodes in DLT infrastructures will be leveraged and rewarded for their contribution to the decentralized network, creating a new node economy. This economy is sustained by a technological bridge between DLT and web 2.0 services which facilitates the tracking of public ledger events using current web technologies.
The TxHash Network
We are building a decentralized network that uses a tracking system to monitor transactions as they are added to any distributed ledger. The Network performs an action once certain conditions have been triggered.
Our network uses a platform-agnostic plugin that is hosted by full nodes of the networks that TxHash monitors and rewards them for maintaining the network.
By open-sourcing and abstracting the TxHash.comTracker Service into a fully decentralized, cross-DLT, we will create trustless a network which perform all core functionalities of our software as a service.