Pythia is responsible for the creation and modification of new entities on the HELO™ blockchain. Pythia itself is a node within the blockchain.
Pythia has extended privileges to add and update tokens, block or unblock accounts, add or revoke other oracles, poll configurations, and enable or disable transactions, to name a few. Pythia works by creating specific transactions that will be added to blocks in order to execute the new or updated entity information.
The network sends specific RPC requests to any active Pythia node. Following the RPC request, if valid, the Pythia node creates a transaction and pushes it to the network.
The final transaction is signed by all Pythia nodes using a collective signature protocol.
The requested Pythia node pushes the transaction into the mempool where it is broadcast to the network.
CREATING TOKENS
When creating a token/launching a new project on the HELO blockchain, the HELO Foundation, and eventually the community via a DAO style voting/polling system can propose new tokens/projects to be added to the network. The HELO blockchain has a permissioned token launch system to protect the community and verify the integrity of the projects prior to launch, ensuring rigorous standards of due diligence.
UPDATING TOKENS
Within the network, actions such as updating token max supply, or updating the network token rewards is possible with Pythia. These changes can be configured via polls which would be voted on by the HELO community.
APPROVING KYC/AML VERIFICATION
Partnering with SumSub to comply with increasing regulations for blockchain projects, becoming a node on the HELO blockchain requires a user to pass a KYC check. The KYC process communications with the Pythia nodes on the networking, allowing users who pass KYC to be verified and given full access to the network. Accounts which do not pass KYC will be blocked by Pythia and will not be eligible to be a node or access certain features of the network.
CREATING AND CONFIGURING POLLS
Delegation and voting are a core part of the HELO network. Pythia can create polls and execute the results of those polls. Instructions can also be sent to Pythia to configure such polls. Polls may range from voting on improvements or changes to the network, or they could be for more fun, community orientated activities.
To stay connected with HELO, register now at heloblockchain.com
