The HEAT ANN was posted on 9th July on Bitcointalk.
The Devs collected over 1700 BTC from July 11th 12.00 GMT -> August 8th 23.59 GMT ICO
What makes HEAT different?
UNLIMITED SCALABILITY
HEAT's unbounded vertical scalability is only limited by the performance of the hardware used. Utilizing not a single blockchain , but a chain of blockchains - and removing embedded databases through the use ofoff-heap memory mapped binary files, the HEAT blockchain is able to sustain transaction throughput of at least 1000 tps 24/7. On our internal tests the HEAT server has been capable of achieving an unbelievable rate of 100,000 updates per second on commonly available consumer hardware.
DIRECT CRYPTO TRADING
Because the HEAT client hosts client side real crypto, integrated to the HEAT blockchain asset exchange through built-in invisible gateway, users can trade cryptocurrencies right from their wallet on p2p orderbooks without going through an exchange. This means that once your trade for ie. BTC/ETH goes through, you can use the BTC or ETH as you do normally. Bye bye withdrawal delays! Welcome multicurrency client and native direct exchange!
LICENSED MULTISIG FIAT WALLET
The unique HEAT crypto client provides access to major cryptocurrencies including BTC, ETH, FIMK and NXT. It also allows creation, transfer and trade of any custom assets created by operators of any size. Having multi-sigfor currencies whose tech is capable of such - the client thus supports fiat money accounts secured with multi-sig private keys. HEAT Ledger Ltd has joint venture agreements in place with EU wide money transmitter license pending, making the prospect of transferring real fiat money in a cryptographic ledger a reality. One of the first, if not THE first - but certainly the first multi-sig fiat!
SMALLER BLOCK FILES HASH-CHAINED
Splitting blockchain into separate files for homogenous data types such as unconfirmed and confirmed balances, unconfirmed and confirmed asset buy and sell orders etc. makes HEAT able to function on many levels of node involvement. No longer does each user need to host the full blockchain - they can store just one or more of the sliced block files that are chained together in torrent-like manner to form a cryptographically secure, full blockchain. And of course they can opt for thin clients with either standalone app or web browser, no server software running at all.
HYBRID BLOCK REWARDS
For its block rewards granted every 25 secs in average, HEAT uses twin system: half of the block reward comes from traditional PoS (Proof-of-Stake) algorithm, while the other half is granted on PoP (Proof-of-Presence) basis for nodes that host the block files online. The HEAT algorithm monitors the presence of block slice files, and assigns higher probability for slices that have a smaller number of copies online. That way any discrepancy arising in the relative number of different block files is attenuated.
DISTRIBUTED SERVICES ARCHITECTURE
HEAT doesn't provide smart contracts as such - but it provides something we think is better; Distributed Services Architecture. DSA is HEAT's answer to blockchain based applications. What we have created is a stateful interactive communication protocol much like the HTTP protocol that is in use today for the web. This allows anyone in the world to write an application in a language supported by the JVM script engine (Java, JavaScript) and have the distributed app serve clients interactively using the blockchain as (encrypted) distributed state full memory space. Supporting Java, this is a never before seen feature on open source blockchains.
RUNDOWN OF HEAT HIGHLIGHTS (some items repeated for clarity)
1. Technology to be used has been 5 man-years in the making
a. Written in enterprise friendly Java
b. Cryptography and p2p consensus code based on MIT licensed NXT
c. Networking layers and many features based on FIMK development
d. Architected with re-use for private chains
e. Optimized for speed and instant high frequency trading
f. Massively scalable through the use of not one single blockchain, but a chain of blockchains
g. Completely remade HTML5 client / downloadable / app
2. New memory mapped OS binary file sliced blockchain structure without db overhead
3. Splitting balance storage from transactions and blocks
4. Transaction throughput rate initially in the 1000 tps scale on legacy hardware
5. Unlimited scalability depending on node hardware: Boost rates of 10k+ tps on standard 4-core Linux server
6. 25-second blocks, instant tx confirmations through websockets and replication layer
7. Regular client startups are near instant since all that has to be loaded are the balance files (~1/10,000 the size of full blockchain)
8. High frequency trading enabling instant matching of 1k+ trades per second stable
9. 2-tier reward structure: Proof-Of-Stake and Proof-Of-Presence (Online storage of blockchain slice files)
10. Distributed Services Architecture (blockchain software robots, Javascript and Java)
11. Thin client: Home users don't need to carry blockchain files but get rewarded to do so
12. Replication layer: Vendor independent replicated database integration for corporate full node operators
13. Remade, smarter networking protocol uses binary messages - on request basis only - between peers
14. Non-blocking asynchronous websocket connections over Netty (Facebook, Twitter) enables high number of peer connections
15. Offline smart vouchers (fully signed transactions that can be sent to the blockchain by anyone.)
16. PIN protected account access to local wallet.dat, with secret phrase brain wallet backup
17. Native A2A (asset to asset) custom tokens exchange with option for native non-gateway BTC price base
18. Multicurrency crypto client enabling non-gateway direct crypto transfer
19. Built-in non-gateway (direct real crypto) p2p exchange for client supported crypto
20. Custom tokens, private tokens, colored accounts and white label software cloning readiness
21. Multisig for FIAT currency tokens and several main target use cases:
a. Simply value adding feature for the crypto client user security
b. Facilitating implementation of p2p live crypto trading (asset exchange tokens auto match multisig real crypto)
c. Enabling crowdfunding security and direct intake of funds (also “real” gated EUR, USD that have multisig security)
d. Unique sales point: Multisig Fiat currency
22. Crowdfunding / IPO capabilities heavily emphasized:
a. Readily on-blockchain for DIY agile companies / geeks
b. Licensed fintech corporate partner for turnkey crowdfunding service
c. Cloned source / white label installation
23. Unique, private human defined identifiers (email account format)
24. Off-blockchain instant E2EE (end-to-end encrypted) P2P messaging
25. Decentralized web shops with instant EUR payments (/pricing in any token)
26. Major licensed corporate partners in crowdfunding, fiat currency token transfer and BTC exchange areas
27. ICO tokens reward stock options for startup company IPO shares at lower price later in 2016
28. ICO runs from July 11th 2016 through August 8th 2016. Currencies accepted: BTC, ETH, FIMK, NXT.