THE BLOCKNUM

BlockNum is a Distributed Ledger Technology (“DLT”) which uses the Public Switched Telephone Network to support secure transactions for the GIGA token through the development of a Public Switched Teliphone Blockchain Network or PSTBN. BlockNum is a highly permissioned blockchain with an access control layer for the blockchain nodes based on SIP messages with communication occurring solely via SIP-based message over IP protocol.

The PSTN provides an immense installed decentralized network base and when combined with SIP message, is an immensely secure system which is instantly scalable to allow the BlockNum to reach any person in the world who has a phone and phone number.

BlockNum will operate on the principle of “Proof of Consensus” or PoC as opposed to “Proof of Work” “Proof of Stake” blockchains. Proof of Consensus focusses on determining that consensus has been achieved (the “consensus event”) within a network of decentralized distributed ledgers and where the ledgers are held within a combination of trusted and independent anonymous nodes. Transaction “consensus” is achieved through a second layer of token nodes which sole function is to approve or deny a transaction in a consensus event.

The mathematics behind PoC is based on the well-established concept of “Consensus Theorem” which is a component of Boolean algebra used for reaching a basis of consensus.

This approach makes BlockNum PoC transactions equally robust as the current alternatives but much faster and significantly more energy efficient.

BlockNum will therefore be the first blockchain to be green and ecologically sound.

SIP Signalization in the PSTN

The Underlying BlockNum Communication Protocol

The Benefits of the PSTN

The PSTN is the oldest, most ubiquitous, most robust and most decentralized communications network in the world. It is an “always on” network, available in virtually any location, and is operated by thousands of local network operators.

The Benefits of SIP Protocol

SIP is an open message standard which has a high degree of flexibility and reliability. Within the context of the BlockNum, SIP messages are based on a standard message template with customizable headers. This means that as a transaction passes through the BlockNum, information can be added to the header at each point which records the history of a given transaction. This allows for a simple but rigorous process of tracking and verifying Proof of Consensus for reaching a consensus event.

BlockNum Wallet

The BlockNum Wallet will be accessible through smartphone app, a BlockNum webpage on a smartphone or through an embedded application within third party apps. This will allow BlockNum account holders to transact in GIGAs or fiat/cryptocurrencies in real time between telephone devices. This will occur in a highly secure environment using PIN confirmations and anti-spoofing technology to eliminate fraud. Users will be able to transfer GIGAs, cryptocurrencies as well as a number of fiat currencies based on exchange rates available at the time of the transaction.

THE BLOCKNUM COMPONENTS

BlockNum Components

BlockNum consists of five key network elements and the BlockNum network interfaces with a number of external components.

  • The BlockNum SIP Server
  • The Session Border Controller
  • The Token Proxy Node The Full Node
  • The Token Full Node
  • The Token Super Node

BlockNum Transactions

Every transaction in BlockNum follows the same sequencing, interaction between BlockNum components as needed and ultimately transaction completion by consensus through quorum. Interaction between components is via the SIP message process with transaction information added cumulatively to the customized SIP header from hop to hop. A transaction initiation can consist of:

  • General interaction with BlockNum (e.g. queries, account creation, account transfer etc.)
  • A transfer request to send to another account
  • A transfer request to receive from another account

Note that a BlockNum transaction can occur between any two parties that have BlockNum accounts and always between 2 telephones connected to the PSTN – anywhere in the world. This is shown in the diagram as:

A or C   – a smartphone
B or D – a non-smartphone

Due to the interface required, only smartphones can initiate a transaction however both smartphones and non-smartphones can confirm transactions.

The Development Work to be Completed

Many components of the technology and platform in this white paper are complete and therefore specific aspects will be ready for implementation upon completion of the crowdsale.

The BlockNum network is fully conceptualized and requires approximately 3-6 months of programming for launch as outlined in the roadmap.

Use of proceeds as will be detailed in this white paper will focus on final development processes on the application including the BlockNum virtual wallet, marketing and implementation as well as completion of smart contract component of the ecosystem.

Proceeds will also be used to increase the number of modules within the BlockNum/GIGA ecosystem and thereby increase their utility and ultimately the demand for GIGAs. Initially, 3 such modules are in development:

  1. Integration with the iPCS mobile communications application
  2. Creation of a mobile banking module for fiat and cryptocurrency exchange
  3. Ability to purchase GIGAs at Point of Sale locations

 

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