Retta

Inspiration

The use of blockchain technology makes it possible to store value, make transactions and execute smart contracts at low costs, without the need for a trusted intermediary or centralized arbitrator.

What it does

Retta is a Web3 Decentralized application blockchain technology that connects applications with payment system.

How we built it

Web3 is a decentralized application that runs on top of the binance smart chain. It was developed to expand on the capabilities of Web2, which was used to store information and data in an open and decentralized manner, but it did not have the right functions to make it a suitable platform for many business applications. For example, it could not be used to send value between two addresses.

Web3 has solved this issue by creating two new networks: one for the storage and retrieval of information, and one for the transfer of value. The first network uses a blockchain structure that allows users to store information in an open and decentralized manner, while the second network uses a token system for transactions over value.

We believe that Web3 is set to be a game changer for businesses looking to utilize blockchain technology. The ability to store information in an open and decentralized manner will no doubt allow businesses to build stronger networks with their customers, while the ability to send value between two addresses will help them streamline their operations and reduce overhead costs.

Retta is an API platform based on the binance smart chain, which enables developers to quickly create highly efficient decentralized applications with a flexible development framework. The provision of Http service IPFS in the web3 bridging protocol can greatly improve the performance of large-scale Dapps, and the pure microservice architecture improves the process efficiency and reliability of Dapps.

Retta is committed to the development of decentralized applications on the Binance chain, and runs on a self-developed binance smart chain. The DAPP Retta will be put into practice as soon as possible, so as to help realize a prosperous blockchain platform for enterprise users. The DAPP Retta will provide free and unlimited storage space for enterprise users, based on the decentralized file system InterPlanetary File System (IPFS) protocol. It will also realize the storage and transmission of encrypted data in the blockchain. Therefore, it can provide a better user experience through the elimination of existing bottlenecks such as "data portability" and "data integrity" in centralized servers. Users can simply drag-and-drop files into a box and click download button to obtain the original file information of their own data.

Challenges we ran into

To produce an ecosystem of blockchain applications running on the binace smart chain that contribute to social transformation.

Accomplishments that we're proud of

Retta is a smart contract platform, using the technology of blockchain. There are two kinds of data links, one is the exchange data link among all users and another is the links from the blockchain to the outside world. The first kind of data link needs to be set up by Retta, while the second kind of data link needs to be set up by DApp based on Retta. Because these data links usually need to pass through ISP for the network access, so when the DApp has not yet joined Retta, it cannot access all Retta users in real time. That's why Retta was established as a decentralized platform to give a smooth way for applications to access.

What we learned

What problems does Retta solve?

Decentralized Payment Solution :the problem of losing efficiency in payment transaction caused by non-decentralized payment services such as PayPal and etc...
The problem of Data Leakage & Privacy Issues : the ownership of personal sensitive data will be unified and transferred to the owner himself, so that the owners can control their own privacy, and a secure identity management system can be created.
Smart Contract: centralized applications have their server managing user information, which is prone to attack, or data falsification by hacker. but Retta's smart contract, which Is run on a decentralized blockchain platform, makes it much safer. ## What's next for Retta Retta will continue to be developed by adding new features so that it can be more useful for the general public so that the main goal can be achieved, namely realizing a better future for people's lives.