The SIChain-EIPS project is pivotal for society as it enhances interconnectivity among blockchain infrastructures, leveraging the energy-efficient Hashnet protocol to foster widespread adoption of blockchain applications. This will significantly reduce the need for intermediaries in transaction validations, lowering operational costs and spurring the creation of innovative services and business models. Additionally, the project’s integration of AI, DLT, IoT, and DTs with user-friendly interfaces will offer advanced data infrastructures, catalysing the development of new start-ups and streamlining the adoption of cutting-edge technologies across Europe.
The project’s goal and scope is to develop:
- the national blockchain infrastructure from the test to the FID phase and integration of the national blockchain infrastructure into the common European Data and Services Infrastructure,
- interoperable connection of national blockchain infrastructures and their integration into a common European data and services infrastructure,
- IPFS Decentralised Data Storage as an integral part of the European data and services infrastructure (for storage of blockchain applications outside the national blockchain infrastructure (off-chain storage)) as an integral part of the European data and services infrastructure, and
- pilot integration of a blockchain user application for document authentication (notarisation and timestamping) and digital identity of natural and legal persons.
The SIChain-EIPS project innovates with the high-performance Hashnet protocol, enabling up to 50,000 transactions per second, which addresses scalability issues present in most blockchain infrastructures. Furthermore, by adapting the Ethereum Virtual Machine to Hashnet, it allows seamless integration of Solidity-based decentralised applications, offering a competitive, energy-efficient blockchain solution with lower operating costs.