Thetis BlockMatrix

An innovative new Blockchain project powered by Azure AI, Elastic Tokens and Encrypted Blockchain Assets

[Thetis BlockMatrix @ThetisProject]

https://t.co/FNDDPsuXmn

Thetis Block matrix dev log/ update:
I've put a lot of work into the project recently, in this video I demonstrate the user friendly UI application and go into some of the specifics of the back end network, how encrypted blockchain assets such as the wallet objects themselves operate, the introduction of Hybrid encryption for data block transfers and transactions on the network as well as demonstrating the interactions between individual blockchains and how these blockchains add and verify incoming and outgoing data blocks.

A lot to go over and this video barely scratches the surface of the over 15,000 lines of code in the current build, but if you are interested in learning more or have any questions about the long term plans for this project, or any specifics on the current functionality and implementation, feel free to ask.

#Blockchain #BlockchainInnovation #CryptoRevolution #Technology #BlockchainTech #Innovation #Software #softwareengineer #blockmatrix

[Thetis BlockMatrix @ThetisProject]

https://t.co/hoiFJRERsI

A shorter Dev log video on the implementation of the create account and login workflow within the Thetis Block Matrix account manager client side application.

#AppDevelopment #Crypto #blockchain #BlockchainInnovation #BlockchainTechnology #blockmatrix

[Thetis BlockMatrix @ThetisProject]

https://t.co/FNDDPsuXmn

Thetis Block matrix dev log/ update:
I've put a lot of work into the project recently, in this video I demonstrate the user friendly UI application and go into some of the specifics of the back end network, how encrypted blockchain assets such as the wallet objects themselves operate, the introduction of Hybrid encryption for data block transfers and transactions on the network as well as demonstrating the interactions between individual blockchains and how these blockchains add and verify incoming and outgoing data blocks.

A lot to go over and this video barely scratches the surface of the over 15,000 lines of code in the current build, but if you are interested in learning more or have any questions about the long term plans for this project, or any specifics on the current functionality and implementation, feel free to ask.

#Blockchain #BlockchainInnovation #CryptoRevolution #Technology #BlockchainTech #Innovation #Software #softwareengineer #blockmatrix

[Thetis BlockMatrix @ThetisProject]

@UxGsol We are a small account, sure to be the next revolution in Blockchain and cryptocurrency technological innovation. Check out the Thetis Project, the first production level Blockmatrix that introduces several innovations that will change how Blockchains are interacted with forever

[Thetis BlockMatrix @ThetisProject]

The Thetis Blockmatrix project introduces several new and innovative features and functionality to the world of cryptocurrency and blockchain technology. The aim of the project has been to be simply superior in every way to existing legacy blockchains.

Superior Cryptography
Superior Economically
Superior Technologically

Imagine a Blockchain ecosystem with no need for gas fees or mining large transactions, that uses minimal energy and is still secure, that's the Thetis Blockmatrix project. Because every account has it's own blockchain, there is no need for mining massive transactions. Each block is a single transaction or action that is self validated before being sent to the receiving nodes, whom subsequently also self validate transaction data.

The first production level Blockmatrix, the first Blockchain implementation to use Hybrid encryption (AES and RSA), to encrypt transaction blocks and wallet data leading to the highest possible level of information and financial security. The first cryptocurrency to use a hashing algorithm to protect token data and the first to trade with a self contained holdings account to ensure 100% liquidity using a proprietary elastic token standard to generate and destroy tokens upon transaction with the protocol's holdings account, no need for centralized exchanges or brokerage.

In every single way, the project pushes the boundaries of what is possible technologically and financially in the world of cryptocurrency and blockchain technology.

[Thetis BlockMatrix @ThetisProject]

The Thetis Blockmatrix project introduces several new and innovative features and functionality to the world of cryptocurrency and blockchain technology. The aim of the project has been to be simply superior in every way to existing legacy blockchains.

Superior Cryptography
Superior Economically
Superior Technologically

Imagine a Blockchain ecosystem with no need for gas fees or mining large transactions, that uses minimal energy and is still secure, that's the Thetis Blockmatrix project. Because every account has it's own blockchain, there is no need for mining massive transactions. Each block is a single transaction or action that is self validated before being sent to the receiving nodes, whom subsequently also self validate transaction data.

The first production level Blockmatrix, the first Blockchain implementation to use Hybrid encryption (AES and RSA), to encrypt transaction blocks and wallet data leading to the highest possible level of information and financial security. The first cryptocurrency to use a hashing algorithm to protect token data and the first to trade with a self contained holdings account to ensure 100% liquidity using a proprietary elastic token standard to generate and destroy tokens upon transaction with the protocol's holdings account, no need for centralized exchanges or brokerage.

In every single way, the project pushes the boundaries of what is possible technologically and financially in the world of cryptocurrency and blockchain technology.

[Thetis BlockMatrix @ThetisProject]

Today was a pivotal moment in the development of the Thetis Blockmatrix project, the first transaction of ETS test tokens between nodes on the network was sent and received successfully! In the coming week I will make a dev log on the progress of the GUI application and the underlying backend functionality I have worked tirelessly for several months to achieve. Project is nowhere near done, but at this point the testnet is functioning in a limited capacity which is super exciting.

#BlockchainInnovation #BlockchainTechnology #BlockchainTech #blockmatrix #Thetis #tokens #newtoken #CryptoCommunity

[Thetis BlockMatrix @ThetisProject]

I had to revise the concept of the ETS (Elastic Token Standard) because I realized that while the original concept would protect against a financial loss in the bear market by averaging the losses over a diversified set of currencies, in a bull market it would create a scenario where if the market went up hundreds of percent in a short amount of time, then the token price would not be able to be rationalized by the token holdings account and the idea of a 100% liquid cryptocurrency would then be moot.

So instead I have revised the equation to instead rebase the token price of off the total balance of the holdings account without an outside inference from the top 10 tokens of the market, in this way it creates a feedback loop that is always rationalized by the total balance of the holdings account, which allows the token to always be 100% liquid.
Here is how the code for the token calculation now operates

accountBalance = accountBalance + transactionAmount;
tokenPrice = (accountBalance) / 10000;
generatedTokens = transactionAmount / tokenPrice;

An explanation of the above code is as follows:

The account balance is amended when a purchase is made by the purchase amount, if there is $100 in the account and I purchase $5 of the token, the new account balance (accountBalance Variable) is now equal to $105 after my purchase

The token price is then rationalized by taking the updated balance of the holdings account, now $105 and dividing that price by 10000. Why 10000? Because the assumption is made that the minimum account liquidity at any time will be $10000, but in our example it started at $100 for simplicity.

The token price after this purchase is then 105/10000 = 0.0105 or more succinctly, 1 cent and 5/100ths of a cent.

At this point, tokens will be generated at this time to rationalize that value, since the purchase was $5 and the token price is $0.0105, to rationalize this value 476.19047619 tokens must be generated, which means the balance of the purchasing account would be 476.19 ETS, at this time equivalent to $5.

So in this way you have a self balancing token that is always based on being 100% liquid for US dollars, while still allowing for growth of the token, if someone came along and purchases $10000 worth of tokens at this price of 0.0105, that would increase the price of my tokens significantly.

In such I have created a truly 100% liquid digital asset, which is revolutionary in the crypto space because most cryptocurrencies are only 7-10% liquid and are reliant on brokers to trade for stockpiles of cash on central exchanges.

The total 2.3 Trillion dollar crypto market is only about 7% liquid, if everyone wanted to pull out all their cash at once, only 7% of that could actually be liquidated meaning 93% of people wouldn't get any of their money, in traditional banking and finance we'd call that an insolvent asset.

[Thetis BlockMatrix @ThetisProject]

The total 2.3 Trillion dollar crypto market is only about 7% liquid, if everyone wanted to pull out all their cash at once, only 7% of that could actually be liquidated meaning 93% of people wouldn't get any of their money, in traditional banking and finance we'd call that an insolvent asset.

The Thetis native currency ETS aims to remedy this by using a rebasing token based upon it's own Paypal holdings account, visit out twitter page for a more complete description of how this will work and how we plan to solve one of Crypto's biggest financial problems.

#Crypto #cryptocurrency #CryptoInvestor #cryptotrading #cryptomarket #CryptoInnovation #investments #Banking

[Thetis BlockMatrix @ThetisProject]

I had to revise the concept of the ETS (Elastic Token Standard) because I realized that while the original concept would protect against a financial loss in the bear market by averaging the losses over a diversified set of currencies, in a bull market it would create a scenario where if the market went up hundreds of percent in a short amount of time, then the token price would not be able to be rationalized by the token holdings account and the idea of a 100% liquid cryptocurrency would then be moot.

So instead I have revised the equation to instead rebase the token price of off the total balance of the holdings account without an outside inference from the top 10 tokens of the market, in this way it creates a feedback loop that is always rationalized by the total balance of the holdings account, which allows the token to always be 100% liquid.
Here is how the code for the token calculation now operates

accountBalance = accountBalance + transactionAmount;
tokenPrice = (accountBalance) / 10000;
generatedTokens = transactionAmount / tokenPrice;

An explanation of the above code is as follows:

The account balance is amended when a purchase is made by the purchase amount, if there is $100 in the account and I purchase $5 of the token, the new account balance (accountBalance Variable) is now equal to $105 after my purchase

The token price is then rationalized by taking the updated balance of the holdings account, now $105 and dividing that price by 10000. Why 10000? Because the assumption is made that the minimum account liquidity at any time will be $10000, but in our example it started at $100 for simplicity.

The token price after this purchase is then 105/10000 = 0.0105 or more succinctly, 1 cent and 5/100ths of a cent.

At this point, tokens will be generated at this time to rationalize that value, since the purchase was $5 and the token price is $0.0105, to rationalize this value 476.19047619 tokens must be generated, which means the balance of the purchasing account would be 476.19 ETS, at this time equivalent to $5.

So in this way you have a self balancing token that is always based on being 100% liquid for US dollars, while still allowing for growth of the token, if someone came along and purchases $10000 worth of tokens at this price of 0.0105, that would increase the price of my tokens significantly.

In such I have created a truly 100% liquid digital asset, which is revolutionary in the crypto space because most cryptocurrencies are only 7-10% liquid and are reliant on brokers to trade for stockpiles of cash on central exchanges.

The total 2.3 Trillion dollar crypto market is only about 7% liquid, if everyone wanted to pull out all their cash at once, only 7% of that could actually be liquidated meaning 93% of people wouldn't get any of their money, in traditional banking and finance we'd call that an insolvent asset.

[Thetis BlockMatrix @ThetisProject]

Mock ups of the Thetis Account Manager application (essentially a wallet app) for what I am aiming for visually with the project. The back end network is virtually fully functional at this point, so now I need to build a front end client application GUI for the user to interact with the Block Matrix

If you want more information you can check out the website https://t.co/VMm5C1J9Ov where the white paper is available for download.

#Blockchain #CryptoWallet #BlockchainInnovation #BlockchainTechnology #GUI #SoftwareDevelopment #application #applicationdesign

[Thetis BlockMatrix @ThetisProject]

Mock ups of the Thetis Account Manager application (essentially a wallet app) for what I am aiming for visually with the project. The back end network is virtually fully functional at this point, so now I need to build a front end client application GUI for the user to interact with the Block Matrix

If you want more information you can check out the website https://t.co/VMm5C1J9Ov where the white paper is available for download.

#Blockchain #CryptoWallet #BlockchainInnovation #BlockchainTechnology #GUI #SoftwareDevelopment #application #applicationdesign

[Thetis BlockMatrix @ThetisProject]

This represents an entirely new forefront for blockchain and cryptographic technology, where we now have a software solution for sending entire files in encrypted formats and notarizing these transactions onto an individual, localized blockchain that can be specific to a particular organization or individual.

Aside from just a financial strategy, the Thetis BlockMatrix represents quantum leap in cryptographic security and the possibilities are quite literally limitless with this technology.

[Thetis BlockMatrix @ThetisProject]

Block Matrix project update:

We have completed testing of a back end network that uses RSA public/private key encryption and decryption of block data and an asymmetric AES key for localized encryption, in the following thread I will go into more detail how this technology works in implementation:

#Blockchain #BlockchainInnovation #Innovation #Technology #BlockchainSecurity #BlockchainTech #blockmatrix

[Thetis BlockMatrix @ThetisProject]

This AES key is then utilized in a hybrid encryption/decryption solution for data transfer between accounts and blockchains, the data transfer itself occurs between RSA public/private key pairs that encrypt and decrypt data in transition from one account to another account.

Data blocks are sent between accounts through a serverless database, a data block is firstly signed by the senders account onto the senders local blockchain, this block then is encrypted with the recipients public key, which can be decrypted with the recipients private key upon transmission and reception of the block data on the receivers end.

An Encrypted Blockchain Asset (EBA) can be sent and received using this functionality by taking a temporary Asymmetric transfer key and encoding the file data with this AES key, then sending the transfer key to the receiving account through hybrid private/public key encryption using RSA, where it can be decrypted and then used to decrypt the associated EBA.

After this transaction has occurred, both the sending and receiving blockchains record a change of ownership of the EBA and the EBA is now encrypted with the recipients local asymmetric AES key.

[Thetis BlockMatrix @ThetisProject]

@realDonaldTrump Bitcoin will soon be a relic, with outdated cryptography it will soon succumb to the "quantum threat". The future of Blockchain and cryptocurrency is the concept of the Blockmatrix, Thetis is the first commercially available implementation of such a technology.

[Thetis BlockMatrix @ThetisProject]

This is a superior way of providing network security, a brand new concept that decouples the symmetric key used for file encryption on the client side and private/public key pairs on the network side of the stack. While being a superior network cryptography system, it's still more lightweight than a traditional blockchain, doesn't require miners or exorbitant gas fees or proof of work/proof of stake algorithms. It's simply a superior product through and through.

[Thetis BlockMatrix @ThetisProject]

The Thetis Blockmatrix project has multiple levels of encryption, utilizing both AES symmetric key encryption for the encryption of locally owned EBA's(Encrypted blockchain assets) and RSA public/private key pairs for communication and data transfer on the back end network.

Currently we are getting close to being able to put out our testnet, development of the account manager application has begun that will communicate with the back end network, this puts us way ahead of schedule.

#cryptocurrency #Blockchain #BlockchainTechnology #encryption #SoftwareDevelopment #SoftwareEngineering #CryptoInvestment #newblockchain #blockmatrix #BlockchainInnovation

[Thetis BlockMatrix @ThetisProject]

If an EBA is to be transferred to another account, it is first downloaded from the file share network (at which time it is currently in an encrypted state), the account manager application decrypts the EBA with it's symmetric AES key, it is then encrypted with the recipients public key, when the recipient receives the block data that indicates an ownership transfer, it downloads the file from the file share, decrypts it with the owners private key, then re-encrypts the EBA with it's associated symmetric key.