Skip to main content
Version: 1.0

Technology

Wireshape is an open-source, public blockchain network built upon the foundation of Ethereum technology. While sharing this lineage, Wireshape diverges in its consensus mechanism, opting for a Proof-of-Authority (PoA) approach, for optimized performance and security within the supply chain domain.

Wireshape boasts seamless compatibility with the Ethereum Virtual Machine (EVM). This opens the door for developers to leverage a vast ecosystem of existing tools, smart contracts, and communities. This compatibility not only simplifies development but also fosters cross-chain collaboration and accelerates innovation within the network.

What is Blockchain​

Blockchain technology is a decentralized, distributed ledger that records the provenance of digital assets. By its nature, a blockchain is resistant to modification of the data it contains, which makes it a secure and transparent way to record transactions and track assets across a business network.

Blockchain Origin and Concept​

The concept of blockchain was first outlined in 1991 by Stuart Haber and W. Scott Stornetta, two researchers who wanted to implement a system where document timestamps could not be tampered with. However, blockchain technology as we know it today truly began to take shape with the creation of Bitcoin in 2008.

Bitcoin and the Expansion of Blockchain​

The real breakthrough came with a person (or group of people) under the pseudonym Satoshi Nakamoto. In 2008, Nakamoto published a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," which described the first blockchain database as part of the implementation of the Bitcoin cryptocurrency. The blockchain served as the public ledger for all transactions on the network, allowing Bitcoin to solve the double-spending problem without the need for a trusted authority or central server.

What is Ethereum​

Ethereum is a blockchain platform that was first introduced by Vitalik Buterin in 2013 with the vision of expanding the utility of blockchain technology beyond just a digital currency. Officially launched in 2015, Ethereum has established itself as a leading platform for decentralized applications (dApps) and smart contracts, programs that automatically execute the terms of a contract when certain conditions are met.

Ethereum Virtual Machine (EVM)​

Unlike Bitcoin, which is primarily a digital currency, Ethereum's principal innovation is the Ethereum Virtual Machine (EVM), a core component of Ethereum, acting as the decentralized computing engine or runtime environment for smart contracts in the Ethereum network. It is Turing-complete, meaning it can execute any computation given enough resources, which allows for a great degree of flexibility in the types of applications that can be built and run on Ethereum.

The EVM's design allows developers to create applications that run on a blockchain, offering advantages such as uptime, censorship resistance, and security inherent to blockchain technology. It supports the development of a wide range of decentralized applications, from financial tools and games to complex decentralized autonomous organizations (DAOs).

info

Explore how EVM works and understand how Wireshape leverages it in the "EVM" section located here.

Wireshape as a New Generation Blockchain​

Wireshape stands out as a new generation scaling blockchain designed specifically for supply chain solutions. While it leverages the power of EVM compatibility, it operates independently, focusing on the unique needs and demands of this critical sector.

Nowadays, Ethereum faces significant challenges related to network congestion, high gas fees, and limited transactions per second (TPS). The importance of scaling chains lies in their ability to enhance the network's scalability, critical for the widespread adoption and functionality of decentralized applications (dApps).

Unlike general-purpose blockchains, Wireshape architecture and consensus mechanism are tailored to supply chain operations, enabling faster transactions, higher scalability, and lower costs. Imagine near-instantaneous tracking of goods, streamlined payments, and improved visibility across your entire supply chain, all powered by a blockchain built for its specific needs.

Leveraging the EVM Advantage​

Wireshape embraces the Ethereum Virtual Machine (EVM). This compatibility opens doors to a vast ecosystem of existing tools, development resources, and communities. Developers can utilize familiar languages and leverage established smart contracts, accelerating innovation and reducing development time. It's the best of both worlds: a focused solution with the power of a global community.

Industry-Specific Security​

While general-purpose blockchains strive for broad security, Wireshape can delve deeper. By dedicating its resources to understanding and addressing the specific security challenges of supply chains, it can implement more targeted and effective security measures. This translates to enhanced protection against attacks and fraud, ultimately ensuring the integrity and trust within your supply chain ecosystem.

Collaboration Made Easy​

The focused nature of Wireshape fosters a stronger sense of community and collaboration among participants within the supply chain sector. With shared goals and challenges, stakeholders can work together to develop industry-specific standards, tools, and solutions, driving collective progress and innovation.

Wireshape's Key Advantages​

Faster Transactions: Experience near-instantaneous transactions compared to traditional public blockchains.

Enhanced Security: Pre-approved validators and a collaborative consensus mechanism minimize security risks.

Sustainability: Eliminating energy-intensive mining translates to a more environmentally friendly platform.

Scalability: PoA allows for faster block processing, enabling the network to handle high transaction volumes effectively.

Community-Driven: Passionate experts, web3 enthusiasts, developers and enterprises together build a better Wireshape to drive progress in supply chains.

Developer Friendliness: EVM compatibility simplifies development by leveraging existing tools and communities.

info

Explore Solidity programming language in the section located here.