«Sphere» is an electronic currency that directly tied to a business activity of participants of BANKllect network. The development of «Sphere» was initiated by absence of any economical constituents of currently presented electronic currencies.
In compared with Bitcoins, Ethers and other currencies, "Sphere" has a series of significant advantages. Among them the following main three:
Anti-Money Laundering mechanism.
Dependence only on business activity of participants of BANKllect network.
The development of «Smart Transactions» technology was initiated by found problems in Bitcoin transaction network.
Two of the main problems are «impossibility of fast analysis of transactions data packed into Blockchain blocks» and «impossibility of management of input/output transactions».
In BANKllect network all the input/output transactions can be configured and realized in the way the participants want it to be.
«Smart Transactions» technology is a customizable and real-time manageable technology.
Proof of Participation (PoP) Protocol is the main mechanism that deters a denial of service attacks and used for mining neural blocks.
In compared with PoW (Proof of Work Protocol), the obvious advantage is a focus on economical activity of the participants of BANKllect network, not for their money or equipment-based status.
The development of «Neural Chain» technology was initiated by found problems in Blockchain Technological Architecture.
In compared with Blockchain, Neural Chain technology has a series of significant advantages. Among them the following:
Quick search of any «store-time» transaction.
Precise determination of genesis of a single-taken transaction.
Classification of participant activity in BANKllect network.
Speed of block formation depends on an activity of participants (not on energy of mining clusters).
«Peer-To-Peer» system of money earning.
For more technological details, please, see the article «Neural Chain: Decentralized chain of transactions» (publishing).