#HeLa #helalabs #blockchain #crypto #innovation
It is important for all of us to understand the HeLa Mission and Vision. The mission is to bring Web3 to the real-world and vision is to pioneer the transformation of traditional industries through the power of Web3 and blockchain technology.
Hela Labs is at the cutting edge of a groundbreaking change in Layer 1 blockchain technology, giving users full control over their interactions with the web. We provide people with power and control over their information by implementing a modular design, advanced security technologies, decentralised identity management, and innovative transaction fees.
The key features to help solve in challenges faced to solve them are the following:
1. Stablecoin Gas Fees
→ Hela Labs eliminates the constant volatility in transaction fees that other networks experience by using a stablecoin for gas fees. Regardless of how busy the network becomes, fees will always stay close to the target amount that the team has set. Users benefit more from this since they can avoid the volatility that comes with native tokens issued by other chains by having a stablecoin on hand to pay for transaction fees. This allows for a better overall user experience.
2. Data Confidentiality
→ While Hela Labs promotes the open and transparent nature of blockchain technology, it also strongly believes in the ownership of each user's confidential information. HeLa is now giving customers a choice, allowing them to decide whether or not they want their transaction to be made public thanks to a built-in confidentiality feature. Naturally, there would be a larger transaction fee associated with this option, but rest assured that it will only be minimal.
3. Multi-level Decentralised Identity
→ In addition to the confidentiality feature, Hela Labs will be introducing a Decentralized Identity system that will enable users to further improve their data ownership. It had earlier been stated that anonymous users would find it challenging to access services offered by different companies, including financial institutions. Users can be KYC-ed by a neutral third-party through the Decentralised ID system. This third party can then operate as an entity vouching for the users to the relevant financial institutions, enabling them to use these services without disclosing their identity. HeLa Labs took a lot of inspiration from the zero-knowledge proof systems that are being used in some of the different blockchains.
4. Modular Design
→ While the modular design makes blockchain technology more scalable, flexible, and maintainable, Hela Labs actually chose this design to enable the creation of a new asset-integration layer that could possibly one day eliminate the need for bridges and create an ecosystem that is truly interoperable.
