We used a hybrid blockchain architecture using Hyperledger sawtooth and Ethereum for OLegacy, a hybrid of public and consortium blockchain was the best-evaluated solution after research. We explored multiple blockchain technologies and multiple combinations like Ethereum, Sawtooth, EOS, Stellar, etc. before finalizing a hybrid blockchain architecture using Ethereum and Hyperledger Sawtooth.
- Hyperledger was used to track the complete movement of OTokens in the system. All the entities involved in token creation and redemption process sign the Smart Contract on the Hyperledger blockchain to maintain the integrity of the process.
- The Blockchain experts at Sofocle did R&D on solving the challenge for Ethereum fee and came up with a solution of using provable functions in smart contracts that allows admin to spend gas(fee) for actions that need to happen from users’ wallet without populating ETH in each users’ wallet.
- Another solution proposed to the client was in terms of simplifying business requirement. The client used two wharfing wallets due to different fee structures for both the wallets. Our team proposed a solution defining a new fee structure that merged the two wallets into one reducing the number of transactions and blockchain fees to nearly 30%.
- Token dynamics are handled in Ethereum. Generation, movement, and burning of OTokens happen in Ethereum Blockchain.
- Sofocle helped the client at each step with the evolving requirements to best align with the client’s vision and satisfaction.
- The solution to Wharfing Wallets was proposed in terms of a service called Wharfing Wallets Management Service (WWMS) that will be hosted by users. This service abstracts implementation details from the user, yet giving him complete access to his funds. The OLegacy platform did not have access to funds in Wharfing Wallets, they can execute a trade using APIs supported by WWMS.