Origin of blockchain was the safe keeping of information regarding transaction, making sure it is decentralized, difficult to hack and history safe.
Further development of blockchain now includes the possibility to run program directly on the blockchain. This also allow to have a blockchain not only for financial transaction but also as process control.
The process control aspect of the blockchain remains a difficult subject to implement. First the process needs to be performed somewhere, either on chain or off chain. Second the data fro the process, either as input or results will be stored on the blockchain and distributed widely.
Private blockchain could be used, but it is not easy and sometime difficult to implement in organization or locally just to control a few processes. On top of that, if the processes are spread across multiple site, the information might be intercepted on the internet.
The Far-Out blockchain offer a solution to implement a private blockchain with having the core available on the internet. The core functions of the Far-Out blockchain are the standard financial operation. However, a local blockchain is created forked from the main blockchain to allow the operation of a local system to be performed without exchanging information with the external world.
The main network contains all the operation from the Far-Out coin. As every standard blockchain, the the Far-Out blockchain contains accounts, a coin ( FAROUT) and the possibility to perform transfer from one account to the other for a fee.
All the operation are stored into the main blockchain are stored on every node on the network. This system allow the FAROUT coin to fuel the operation of the network and collect fees for operations.
The local blockchain is a fork of the main blockchain. The local blockchain only fork what is interesting for the local system. Every local system or node, will have one or more accounts, to allow operation. Each node can have on the local blockchain or off blockchain processes communicating with the node and performing tasks. The information supplied to the process or returned from the process are only stored on the local blockchain, only information regarding financial transaction for the coin will be pushed to the main blockchain.
This methods allow the operation of a local blockchain without having the risk of having sensitive information shared with the world. This also reduces greatly the amount of information to be stored on each node from the main net.
The local system is not limited in size. The node on the local system offers an interface to allow any process on the local network to communicate. Each process can then receive the instruction to perform and return the results. Each process can also set the fees for its operation on the local network.
This local processes can be anything from a few python script on a local network whom need to be synchronized and logged to a major organization requiring to synchronize processes across multiple field like engineering, finance, Human resources, production…