What is HAZAMA?
HAZAMA is a bitcoin side chain technology built using the federated peg model. It allows the 2 way peg of BTC, Counterparty and other blockchain assets such as ERC-20 to a semi-centralized yet cheaper and faster side chain for use with low value assets requiring a high user experience such as gaming and app tokens.
With HAZAMA technology industry and communities are free to customize the properties of their chain to match their own regulatory or technical requirements. Such as low or high fees, whitelisted/blacklisted assets etc.
There are many blockchains that promise low cost and fast transactions however their stability and decentralization is questionable, using the federated peg model HAZAMA offers a fair and honest compromise
HAZAMA is currently under development but will be fully open source and we will welcome pull requests and feedback, there is no central company behind HAZAMA however IndieSquare is the initiator of the project. HAZAMA has no HAZAMA token nor native asset/ICO, it only supports 1:1 pegging of existing assets
How it works
HAZAMAs security is based around the federated peg model where a user deposits an asset they wish to peg in to multi sig address controlled by a group of trusted entities. Once the trusted entities have received the asset they issue an analogous token on the side chain.
Once a token is "Pegged in" it can be sent and traded on the side chain using the built in wallet and Decentralized Exchange with low fees and fast block times. They can also link their wallet to compatible games and apps. At any point a user can "Peg out" their asset to receive the initial asset on the parent chain.
HAZAMA does not promise to be as decentralised as the bitcoin blockchain which gives HAZAMA the freedom to experiment with new features and functionalities which can help enrich the usability and possibilities of games and apps that wish to integrate cryptographic assets.
HAZAMA is still currently under development but a few projects that will use the platform are described below!
Book of ORBs
Book Of Orbs is a web app wallet and trading platform built on top of HAZAMA. Users can collect and trade collectable cards using the P2P decentralized exchange
HAZAMA wallet will be a mobile wallet letting users peg in and out to HAZAMA chain as well as send assets to other users and experience HAZAMA dAPPS with the built in browser.
Takara is a geocaching game for digital game assets and bitcoin! allowing users to create and participate in token treasure hunts around the world!
Due to the instant confirmation property of Lightning and Hazama users will be able to instantly buy and sell HAZAMA assets for BTC