What does faizod.Anchoring do?
- Periodically writes the current block hashes of a private chain in to one or more public chains.
- Lifts the level of security of a private chain or your own database to that of a public chain (i.e. Ethereum or Bitcoin).
- Eliminates the disadvantages of private chains against public chains.
Through faizod.Anchoring, the current status of a block is periodically anchored in to a public chain, creating invaluable security for your own chain without the need to write security-relevant data into a public chain.
How does faizod.Anchoring work?
The block hashes of a private chain are periodically written into a public chain. For this purpose, not all block hashes have to be transmitted; for example, a daily match is sufficient. In the case of a manipulation within the private chain, it is possible to know which blocks can be trusted and when a manipulation has occurred. The only transmitted information is the block number and the associated block hash.
How is faizod.Anchoring available?
faizod.Anchoring is available online as a service or can be operated on demand.
Return on investment
Blocks per day = 86,400 seconds / 15.2 seconds per block
5 ethers x ~5,684.21 blocks = ~28,421.05 ethers
The value of an ether is currently around 70.00 €, which would cause a total cost of almost 2 million Euros per day.
0.0008568 ethers x 70.00 € per ether = ~0.06 €
With Bitcoin the price varies between 0.27 € and 0,91 € per transaction.
Anchoring transfers the advantages of a public chain to a private chain. This means that the power of a public chain is transferred to its own chain or database and made usable. The cost-saving power is incomparable. Almost 2 million Euros would need to be spent every day if you wanted to operate your private chain as a public chain in the future. On the other hand, for between 6 and 91 cents per anchor, the current block hashes can be periodically written into a public chain.
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