Multi-Level DID ManagementHELA AND THE BLOCKCHAIN PROJECTS
Over the years ,blockchain projects has been facing some serious core problems that has prevented the blockchain technology from leading the way to more suffusive applications. These core problems are listed below ;
1. Inadequate Confidentiality Mechanisms.
2.Volatile Transaction Fees.
3.Insufficient Data Integration and Interoperability
4. Lack of Identity Management.
1. Inadequate Confidentiality Mechanisms:
Many existing blockchain protocols lack confidentiality.All transactions can be inspected by anyone with access to the respective blockchain explorer.
2. Volatile Transaction Fees:
In the current blockchain protocols, users need to purchase protocol-specific tokens to pay transaction fees and use the corresponding features. However, the fluctuation of token prices is often very dramatic.
3.Insufficient Data Integration and Interoperability:
Although the scalability and customizability of blockchains has been enhanced with the introduction of various modular blockchain systems and Layer 2 protocolsthese enhancements have been accompanied by increasing data fragmentation and poor interoperability.
4. Lack of Identity Management.
In many existing blockchains, users are usually anonymous. This anonymity makes it difficult for many existing blockchain protocols to control the identity of users and poses security issues such as Sybil attacks.
HOW HELA SOLVE THE BLOCKCHAIN PROBLEMS
Hela has stepped in to solve the blockchains problem by offering;
1. Modular Architecture with Integration Layer:
Hela adopts a modular architecture to provide better customizability and scalability.
2. Flexible and Auditable Confidentiality:To provide flexible confidentiality, Hela applies a design combining the trusted execution environment (TEE) and the encryption mechanism.
3. Multi-Level DID Management: Hela provides multi-level decentralized identity (DID) management for users. Hela’sDID management protocol follows the W3C standard.
4.Stable Transaction Fees