the genesis of a mobile ecosystem - amazon s3

THE GENESIS OF A MOBILE ECOSYSTEM

WHITE PAPER

Optimal solution for mobile ecosystem Intuitive HENA platform provides convenient functionality and scalability

HENA platform is a genuine mobile dedicated blockchain ecosystem that integrates distributed communities

Abstract

Bitcoin, first launched in 2009, has been a cornerstone of the radical development of digital exchange platform. This was

highlighted by the decentralized nature of the issuer, lack of controlling party, and complete anonymity of transactions, and

demonstrating the great potential of the "Proof-of-Work" model. With the launch of Bitcoin, the world-wide interest in block chain

technology has grown rapidly, and there have been thousands of altcoin and similar block chains were emerged since then.

Coins based on blockchain such as Bitcoin and Ethereum have demonstrated the effectiveness of decentralized distributed

network systems and proven the technology can be used in real life. The current blockchain technology already presents a variety

of changes to the existing thinking about digital transactions and interpersonal transactions on the Web. However, non-experts

have very low knowledge of the basic structure of the blockchain and the following ability of effective use of its various functions.

This is HENA platform’s entry point.

HENA platform is designed for 1) Easy to use, 2) System stability, 3) Strong security, 4) Inexpensive operation cost, 5) Superior

network/transaction speed.

Dedicated for mobile devices including smartphones, tablets and other small devices, HENA platform's system offers several

distinct advantages.

This white paper explains how HENA platform will introduce blockchain to mobile ecosystems to popularize the blockchain

industry.

HENA PLATFORM INVITES YOU TO JOIN THIS REVOLITIONARY CHANGE!

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The first blockchain coin “BITCOIN”

On August 18, 2008, the domain name "bitcoin.org" was registered with a link to a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" to a cryptography mailing list by Satoshi Nakamoto.

Nakamoto developed Bitcoin’s software as an open source code package, and released it in January 2009.

The launch of blockchain : BITCOININTRODUCTION

Bitcoin has made a breakthrough in digital exchange platform.

This has been highlighted in the decentralized environment by eliminating the risk of issuer control and thus of trading partners, the speed of immediate trading and the complete anonymity of trading partners.

All Bitcoin transactions must be verified by a third party of a voluntarywith honest intention by solving the complex algorithms necessary tomaintain the blockchain

This is the mechanism of the Bitcoin's proof of work (POW)

Centralization Decentralization

What makes Bitcoin revolutionary?

6

ISSUES OF ELECTRICITY CONSUMPTION AND THE CONCENTRATION OF MINING POWER

Excessive power required for proof of work (POW)INTRODUCTION

Unfortunately, POW implementation requires immense computing power (mining), and by extension consumption of power. As well,

the more power is devoted to POW, the more difficult the overall process becomes. This is referred to as ‘mining difficulty’. As

mining difficulty rises, so do the power requirements for maintaining Bitcoin’s blockchain. According to tracking by the organization

‘Digiconomist’, the Bitcoin network currently consumes about 73 TWh annually. For reference, Austria has an average electricity

consumption of 80 TWh per year.

At the time of the introduction of Bitcoin, everyone could use CPU or GPU to mine on a normal desktop or laptop. However, In recent years, when solving the POW algorithm, normal CPU or GPU can not be used anymore as the dissemination of dedicated hardware, ASIC, which is much more powerful and efficient than general or enterprise-class processors.

As a result, most of the hashing power and network controls are dominated by massive mining organizations like BTC.com and Bitmain, so the abbreviation is virtually eliminated. The main obstacle preventing the public from participating in mining is in fact asmall group of monopolies. According to Techradar, the three largest mining groups (BTC.com, AntPool and ViaBTCH) currently account for more than 52% of the global hashing power of bitcoin networks in 2018.

Mining requires immense electricity and expensive equipment, such as ASICs

POW is the process of solving a complicated computer algorithm

BTC’s estimated annual electricity consumption is similar to Austria’s annual

consumption

73 TWh

7

The feasibility of the market dominant cryptocurrencies

to-date has been mostly relegated to larger devices

such as PCs, laptops, and high-end tablets, leaving the

majority of mobile-devices out of the loop. Low-

powered devices have no hope of mining on such

networks, one of the issues HENA proposes solving.

8

The goal of HENA platform is to make every single users to access a decentralized blockchain ecosystem, which is freely accessible and usable on all mobile devices

9

HENA platform is a blockchain optimized for mobile users. We are aiming at a cryptocurrency system that can design a real-life

economic structure in a mobile ecosystem by acquiring coins through mobile mining and through a mobile advertising platform.

As a mobile advertising platform, HENA is a platform where advertisers, developers, media, and users benefit equally. The coin can

be obtained just by watching the advertisement on your mobile phone, playing games, the web surfing and watching the webtoons.

In addition, Hybrid mobile mining developed by HENA platform's proprietary technology enables you to acquire coins anywhere,

anytime with your smartphone. These acquired coins can be used as a payment method, and forms a virtuous cycle in which

advertising costs are used by advertisers.

HENA is available to both users and developers for all the applications they want on the mobile platform. All the functions and

activities related to the HENA ecosystem can be accessed and used in mobile devices to maximize practicality and enable

communities, including mining, P2P transactions, exchange-based transactions, online shopping and community interactions.

This infinite possibility will define HENA platform.

HENA platform will revolutionize the cryptographic and blockchain industry with just one mobile device.

VALUE PROPOSITION

10

Just as the Internet moves from desktop to mobile, the block chain is also moving to mobile. This puts the HENA platform in a favorable position, and the success and failure

of the HENA platform depend on whether liquidity and the real economy are applied

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Shopping, entertainment, P2P commerce, advertising, games and other activities all evolve on the mobile platform. HENA is designed to be the first to take advantage of this and

move ahead of global trends.

12

Considering all that is mentioned, initial versions of HENA will be introducing a new ecosystem of blockchain-based mobile advertising.

HENA will address the concerns of everyone and address the real-world application of blockchain technology.

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AIC - Blockchain-based Intelligent Advertising Solutions

HENA is a Big Data and AI driven advertising analytics and mobile marketing platform, providing new ad channels focused on individuals.

The main challenges in the advertising industry are false information filters, online fraud blocking, and accurate target marketing.

Advertisers now facing a huge amount of false information. Consumers are more vulnerable to unreal news than ever before, and are exposed to the leakage of unique personal information by third parties. Content creators have lost control over their copyright or intellectual property rights.

HENA Foundation is fully aware of these problems in the advertising market and is well prepared to address these problems byproposing intelligent advertising solutions based on blockchain.

HENA will realize its goal of creating a robust and decentralized mobile blockchain ecosystem.

INTRODUCTION

14

LEARNING FROM THE PAST BLOCKCHAIN PROJECTS BEFORE HENA PLATFORM

Some of the mobile mining issues that we have seen in the past are:1) Excessive data charges for transmitting and receiving block-chain data2) Performance degradation due to CPU overload 3) Overheating and power consumption problems 4) Very low mining efficiency

HENA Foundation is fully aware of the need to resolve these issues, as detailed in the HENA Yellowpaper.

HENA will realize its goal of creating a truly decentralized mobile block chain ecosystem.

INTRODUCTION

Mining methods to solve previous issues

15

WHAT IS HENA ABOUT?

HENA is a mobile cryptocurrency designed to be practical, easy to use and secure.It overcomes the drawbacks of old generation coins and combines the individual advantages of existing cryptocurrency such as Bitcoin and Ethereum. HENA platform, as a combination of the advantages of the existing coin and new functions, will be a flexible hybrid type network.

HENA PLATFORM, MOBILE-BASE CRYPTOCURRENCY

KEY FEATURES OF HENA –Optimized for all mobile users worldwide, including mobile advertising solutions and mobile mining

Intelligent advertising solutions based on blockchain, mining on smart phones and tablets and HENA Smart Wallet will enable trading on mobile devices.

• HENA Wallet is a multi-layer encrypted smart wallet designed for mobile devices. Peer-to-peer transactions and token storage are supported. • HENA mining and trades are available from any mobile device. • HENA provides solutions for gaming, contracting, advertising, etc.

Multiple encrypted smart wallet for mobile

devices

Mining from any mobile devices

HENA Smart Wallet lets you trade on any

mobile device

Provides solutions for gaming, advertising,

contracting, etc.

INTRODUCTION

Blcokchain based intelligent advertising

solutions

16

HENA is designed for easy access - no need prior knowledge of cryptocurrency or blockchain

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KEY FEATURES THAT MAKES HENA PLATFORM UNIQUE

HENA PLATFORM ALLOWS EASY ACCESS FOR ALL USERS

Key features of easy access are as follows:

Ease of Use System stability Strong security Inexpensive Operation

Superior Network Speed

1 2 3 4 5

HENA Smart Wallet application & Mobile

Ecosystem

POW & POS Hybrid Consensus

Multiple authentication & Personal Biometrics

Mobile Mining & Direct Trading Market

Fast Transacting and Exchange

POW POS

In order to enter the Main Stream cryptocurreny usually need one or more of the following.

1) ASIC equipment2) CPU or GPU mining3) Complex registration procedures for cryptocurrency exchange.

CHARACTERISTIC OF MAINSTREAM CRYPTOCURRENCY (Entry barriers)

HENA PLATFORM

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AIC - SMART WALLET & Block Chain-Based Intelligent Advertising Solution

We aim to open up the market for mobile advertising based on blockchain

Innovative advertising solutions that incorporate blockchain technology into mobile advertising market

HENA PLATFORM

Users can obtain HENA coins as a rewardsimply by playing games, web surfing or watch webtoons with their mobile phones. - Any smartphones users all over the world

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AIC - SMART WALLET & Block Chain-Based Intelligent Advertising Solution

HENA platform offers new solution for more fair rewards, more accurate ad reports, more accurate target marketing, and higherreturns

A new solution for digital content and advertising from HENA platform

HENA PLATFORM

Grant User SelectionHENA will grant users the right to choose advertising andprovide personal information.If you surf the Internet, play games, and use your smartphone as before, you get coin.

Improving the effectiveness of advertisingHENA AIC is a blockchain-based intelligent advertisingsolution that lets you accumulate ads BigData that arefree from attacks such as fake clicks, fake sites, and bot.

Publishers fair compensationHENA helps generate more revenue by providingfair advertising revenue to advertisers, users andPublishers.

User's choiceUsers want to have the right to provide their personal information in their choice of advertising.

The effectiveness of advertisersVarious types of false information and inaccurate ad effectiveness reports areleading to higher advertising costs and lower advertising effectiveness.

Benefit creation of PublishersThere is a need for higher advertising revenue in the deformed ad market, where broker fees are excessively high.

Advertisers

Publishers

USER

New solution for mobile market! Innovation of HENA!

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The HENA App provides a mobile advertising solution. Users can acquire HENA coin by simply running HENA app.

Companies expect sales growth and effective promotion using AIC platform, and users can acquire coinage by simply using content, advertising, and services.

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SMART WALLET & MOBILE MINING

HENA allows both mining and trading simply by installing a free application (hereafter referred to as the ‘App’) on a mobile device.

SMART WALLET APPLICATION ENABLING MOBILE MINING AND TRADING

Smart Wallet with Multi-layer encryption

Password

Social media authentication

Fingerprint authentication

Face recognition

2FA

The smart wallet will by distributed by HENA for free and is more secure because it

supports multi-layer encryption including ID creation, password, social media

authentication, fingerprint authentication, face recognition, and 2FA.

Mobile mining & trading

HENA PLATFORM

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HENA App provides mining function on mobile devices. As soon as the app is installed, HENA coin can be mined immediately.

Real life application

HENA platform will support solutions for mobile advertising, commerce, payment processing and content distribution, with the ultimate goal of using in real economy. HENA application is a handy app that runs on mobile devices and acts as a hub for these services. The scope of HENA's real life coverage, including game point distribution, advertising, content distribution, subscription management, corporate dividend distribution, and anything developers can dream of, is unlimited.

Advertisement Initiative Consensus

Intelligent Advertising Solution

Use of Game and Service points / rewards

Payment Platform

Mobile Mining

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Mobile Ads - The fastest growing categoryREAL LIFE APPLICATION

SHARE OF GLOBAL ADSPEND BY MEDIUM

10

5

34

6

1

7

18 20

7 4

31

6

1

6

15

29

2017 2020

(Unit: %)

(6,959)

(4,597)

(2,379)

1,147

2,079

3,031

6,898

72,603

Newspapers

Magazines

Desktop

Radio

Cinema

Outdoor

TV

Mobile

SHARE OF GLOBAL ADSPEND BY MEDIUM

According to a recent study by Zenith, mobile advertising increased by 47% and 38% in 2016 and 2017, respectively, and 19% is expected to grow in 2017-2020. The mobile advertising market is a major driver of growth in advertising spending worldwide.

The financial impact of mobile advertising is enormous. Around $ 107 billions was spent on mobile Ads. Zenith expects to incur additional costs of $ 73 billion from 2017 to 2020 as advertisers move their budgets to mobile. It accounts for about 53% of allInternet advertising and represents 20% of total advertising costs this year. Mobile advertising costs are expected to reach $ 180 billion by 2020, almost double the $ 94 billion expected to be spent on desktop computer advertising.

In 2020, approximately 66% of all Internet advertising costs and 29% of all global advertising costs will be allocated to mobile.

Risk of personal information leakage and malignant code attack

Data usage when downloading

REAL LIFE APPLICATION

Problems related to the mobile advertising industry

Publishers are often deprived of legitimate interests due to attacks such as malignant software

Advertisers will spend their cost on ineffective Ads

Decentralized, transparent, intelligent digital advertising solution based on blockchain

HENA AIC blockchain-based intelligent mobile advertising system is designed to protect existing advertising such as malignant advertising and privacy breaches. While filtering out network issues, fair rewards, accurate ad reporting, accurate target marketing, and higher returns


Mobile Ad solution of HENA

1) User : Setting privacy level and selectively watch the ads they want. This allows customers to earn HENA coins while using their usual smartphone.

2) Advertiser : HENA AIC solution will be validated with blockchain technology, freeing advertiser from attacks such as fake clicks, fake sites, and bots, and allows advertiser to collect big data from blockchain technology. Accurate targeted advertising with low cost with high efficiency

3) Publisher : Publishers can expect to increase their sales with targeted ad impressions based on accurate data. HENA provides a fair system for advertisers, users and Publishers to help them generate more revenue..


Mobile Ad solution of HENA

User Data Based Targeted Ads - High Ad Efficiency

HENA ACQUISTION

Payment

Provide user’s encryptedpersonal information

RewardHENA Coin

Advertiser HENA AIC User

MediaBig DataProviding encrypted user’s

personal information

Users can watch news or videos,play games, listen to music orwatch ads on mobile devices

Increase media ad revenue with effective ad exposure

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SMART WALLET & MOBILE MINING

HENA Smart Wallet enable easy mining without interruption

The user can continue to use the device as usual and obtain a HENA coin through mining while the HENA App is running. Users can create their personal HENA address via Smart Wallet and participate in mining with a simple button operation.Mining will be available even the application is off.

Users will not be hindered by games, surfing the Internet, using applications, checking e-mail, and using the device while the HENA App is inactive for mining.

All this is done by HENA's self-developed Automatic Identification and Conclusion (AIC) structure. This is detailed in the HENA Yellowpaper.

HENA Wallet creation

Easy miningOther applications

available while mining


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HENA Smart wallet: Mining and e-commerce functions

HENA Smart wallet: All-inclusive mobile applications

With HENA Smart Wallet, cryptocurrency will effectively be linked to the real economy


One of the most exciting parts of the HENA project is the 'Smart Wallet' application, a comprehensive mobile application that allows users to easily use, transfer, exchange and mine HENA COIN on mobile devices.

Through HENA Wallet, all cryptocurreny including HENA COIN can be converted to real currency. In addition, users can participate in discussions, events, voting, and other activities through the community related to the HENA ecosystem.

Payment: Ability to pay instantly, both online and offline

Transformation: Ability to instantly transfer various currency between wallets for free

Exchange: Ability to exchange cryptocurrency and real currency

Mining: Easy and efficient mobile mining without degrading the performance of mobile devices

Main functions of Application applied to everyday life

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THE HENA COLD WALLET

Unique and more practical HENA cold wallet

Another attractive feature of HENA is the unique and practical HENA cold wallet. The will be in the form of a credit card.

HENA cold wallet is an offline device that is blocked from the Internet which can not be hacked. Users can transfer assets between HENA Smart Wallet applications over an encrypted Bluetooth connection and store some or all of their HENA coins or other cryptocurrency assets on a cold wallet.

The cold wallet can also be used as an ATM card, allowing the user to withdraw, deposit, transfer or make payments on ATM machines in either cryptocurrency or real currency.

This is another major step forward for broad application of cryptocurrency.


Hack-immune

Transferring assets via Bluetooth connection

Ease of storage and transportation

ATM card function for cash withdrawal, deposit and paymentCard type HENA cold wallet

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HENA ECOSYSTEM

Encouraging cryptocurrency to real economic

The ultimate goal of HENA Wallet and Blockchain is to facilitate the integration of the cryptocurrency into the real economy. To this end, HENA is developing an exchange that enables the conversion and trading of various cryptocurrency, legal and realcurrencies. This exchange will be called the 'HENA Direct Trading Market' (DTM).

With HENA Smart Wallet, users can trade directly with other Smart Wallet users or through DTM. All of these features will improve the liquidity and practicality of HENA coins and other cryptocurrency through apps that can be traded in the real economy.


HENA Direct Trading Market (DTM)

More participants on the DTM Enhanced liquidity Raises HENA coin utility

Conversion and trading of various cryptocurrency, legal and real currencies

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PAYMENT PLATFORM

A separate app for merchants willbe distributed to allow users to payfor services or products in HENA Smart Wallet in the store in eithercryptocurrency or legal currency.


PARTNERSHIPS WITH PAYMENT GATEWAY

ONLINE SHOPPING INTEGRATION: INTO THE ONLINE ECONOMY

The essential feature of the HENA platform is to use cryptocurrency as a payment method in online stores.


HENA Foundation's online merchant API solution has a huge impact on connecting the currency and blockchain to the real economy.

Use as an online store payment method

33

Intelligent advertising solution based on blockchain

34

Linking advertisers and users for mutual benefits

The traditional online marketing industry is plagued by complexity and privacy data issues like Facebook's 'likes’ or similar media. HENA provides a simplified platform for safe, effective and smooth operation of blockchain supporting the interests of all related members within the platform. Given that users will be able to shop through their HENA Smart Wallet application, and of course at other venues on the internet, one of HENA’s unique features will the provision of blockchain-based advertising solutions.

Advertisers will have secure and uncontroversial access to a wide range of consumers to which to pitch their services or wares, and consumers will be able to better control what they see and hear. Through the HENA ecosystem, advertising won’t be generally thought of as an annoying any longer, but perhaps even another perk to participating in the marketplace. Users will be compensated for their viewing of ads within the HENA ecosystem, paid in HENA coin through a flexible and effective advertising system that is advantageous to both advertisers and consumers.


Payment processing via HENA Smart Wallet

View ads within HENA APP and

acquising HENA coin User data will be protected and analyzed for

retargeting ads

Efficiently targeted advertising based on voluntary user information

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GAME, MERCHANT, AND SERVICE POINTS CONVERTIBILITY

Rewards, points and credit can also be converted into HENA tokens through the HENA platform

One of the other ways that the HENA ecosystem links the cryptocurrecny to the real economy is to make it easy to exchange different types of points, credit, token and HENA coin.

Through mobile games, apps, sites, and services, users can reward points in a variety of ways, including activities, purchases, and participation. HENA will expand the practicality of HENA COIN and cryptocurrency.

The HENA platform will automatically manage the conversion rates, merchant compensation, and the HENA foundation’s own costs or profits in the background. All the users will then realize that their shopping and economic participation have been greatly enhanced.


HENA Platform

Different types of points, credit, tokens and HENA coins can be exchanged easily

36

NULS & MODULARITY

SMART-CONTRACT SUPPORT AND MODULARITY: ENHANCING BLOCKCHAIN UTILITY BEYOND ANYTHING BEFORE IT

Not the least of the HENA ecosystem’s features would be the modular smart-contract with support afforded. Akin to the features popularized by Ethereum, the modular enhancements made by the NULS blockchain (as detailed in the HENA Yellowpaper) will give the HENA platform virtually unlimited flexibility and functionality.

Users will be able to create their own smart-contracts on the blockchain. Developers will be able to develop smart-apps with nearly any purpose on the modular structure of the HENA blockchain, opening up a whole universe of possibilities.

The inclusion of such modularity would truly make the HENA ecosystem revolutionary since it would be the users and developerswho could create the bulk of the content hosted, featured, consumed, and distributed across the network in a decentralized nature. Just as YouTube revolutionized video, MySpace, Facebook and others revolutionized social media, and Apple revolutionized the mobile phone, HENA will do the same by allowing anyone with access and the simple know-how to expand the ecosystem, growing together with everyone else on the HENA platform.


Sub-link generation

Access provision

NULS solutions Main-Chain and Sub-Chain

Generated blocks

Transactions

Multiple Tokens

Exchange of multiple tokens

HENA BLOCKCHAIN

Mobile device mining is a mining method unique to HENA. This is not the first attempt at its implementation, but previous attempts encountered several roadblocks that no blockchain implementation prior to HENA has yet overcome.

Some of the issues those projects encountered included:

1) Excessive data charges when sending or receiving blockchain data,

2) Device performance degradation due to excessive CPU load,

3) Overheating and power consumption issues,

4) Extremely low mining efficiency.

The HENA project has found ways to solve each of the above issues.

The following slides are dedicated to describing in detail how this can be done.

38

HENA’S HYBRID CONSENSUS METHOD

HYBRID OF POW AND POS

POW is the primary consensus method for HENA. In the early stages of the blockchain's development, there may be security issues due to a lack of total hashing power. Hence, HENA will use HPOS to re-verify the block in order to provide an extra layer of security while still accumulating a user base. Hence, HENA will re-verify the block generated by the mobile POW process on the POS node. This enhances security, and prevents malicious attacks on the blockchain. As the user base and thus hashing power of the network rises, security will continue to be strengthened. Block Generate Block Generate

HENA BLOCKCHAIN

[HENA Hybrid POW&POS]

Primary verification

Block Publish

39

MOBILE PROOF-OF-WORK (POW)

THE POW MINING PROCESS AND AUTHENTICITY

When a user attempts to begin participating in mining, the HENA App automatically checks the user's mobile device and uses the

unique identifiers of each mobile device such as mobile phone number, IMEI, Mac Address, and CPU ID to ensure no duplicates or

unauthorized mining.

For this implementation, an algorithm that frequently alters the difficulty level of POW is used, adjusting the difficulty according to the transactions recorded during block generation period. The level of difficulty is not fixed, and the structure is such that the new difficulty level is determined at each interval based on the sum of the transactions that occur during the block generation period, the average value for the 5 blocks previously generated, and the number of mobile devices connected to the HENA Pool.

HENA BLOCKCHAIN

Phone number

IMEI

Mac Address

CPU ID

AUTHENTICATION USING UNIQUE IDENTIFIERS OF MOBILE DEVICE

Based on this method of authentication, HENA Pool automatically allocates jobs and

assigns tasks that can be computed directly on the mobile device. Each mobile device

will perform this task through computation and then receive proportionate HENA

Coin as reward.

ALTERING THE LEVEL OF DIFFICULTY

40

TECHNOLOGY BEHIND MOBILE MINING – BTMA & HPLS

BLOCK THUMBNAIL MINING ALGORITHM (BTMA) AND HASHING POWER LIMIT SYSTEM (HPLS)

The Block Thumbnail Mining Algorithm (BTMA) hashes the information to be mined in a thumbnail format and sends it to each mobiledevice, each of which performs the calculations necessary for mining, and to find a nonce value for the hash value. Through BTMA, the amount of data used by mobile devices can be minimized, optimizing the system for transferring and mining on mobile devices.

HENA BLOCKCHAIN

At this time, the Hashing Power Limit System (HPLS) of the HENA Pool limits the tasks assignable to each mobile device to 5% of its rated maximum

performance. This reduces the heat generation and battery consumption of the devices in question.

In the initial stage, only one mining pool provide by the HENA Foundation will be available. However, any number of pool operators will be free to

develop their own pools. In order to develop and operate one’s own mining pool, a Mining SDK will be provided by the HENA Foundation. The use of this

SDK is mandatory for the establishment of a private pool.

Since HENA's mobile device mining algorithm, HPOW, is run concurrently with HPOS, the reward ratio for mining is adjusted, with the greatest weight

placed on participation in the blockchain, not on the size of a device’s role for substantive verification.

5%Minimizing the amount of block data

BLOCK THUMBNAIL MINING ALGORITHM (BTMA) HASHING POWER LIMIT SYSTEM (HPLS)

41

MOBILE PROOF-OF-STAKE

PROOF OF STAKE

Proof of Stake (POS) is a cost-effective confirmation method as it does not rely on computational power. Rather than in proportion toone’s contribution towards a given block, rewards are issued based on the number of tokens a participant possesses, or their ‘stake’ inHENA. This will allow for increased decentralization since any user in possession of any number of HENA tokens will be able to takepart in the decision making process.

HENA BLOCKCHAIN

The HPOS proposed by HENA is close in function to the DPOS (Delegated

Proof of Stake) method. In this community, users are chosen by network

participants through the delegation of shares, ‘shares’ being the number

of tokens held. The resulting delegated person is called the ‘server

administrator’, and this individual can change depending on the results of

each round of voting. The server administrator has control over the

verification process to the extent of the amount of shares delegated to

them. However, HENA Coin rewards will be distributed during each block

based on participation in voting.

DELEGATED PROOF OF STAKE (DPOS)

[ HENA’s DPOS ]

DPOS

Predator

Predator

Predator

Predator

Predator

Predator

mandatory

mandatory

mandatory

42

HYBRID CONSENSUS – HYBRID OF POW AND POS

PROOF OF WORK AND PROOF AND STAKE HYBRID CONSENSUS – A SYNERGETIC RELATIONSHIP

HENA BLOCKCHAIN

[HENA Hybrid Consensus]

Primary verification

Block Publish

HENA proposes implementing a hybrid mixture of HPOS and HPOW. This decision produces synergies between the advantages of eachconfirmation method, and offsets the effects of their disadvantages.

43

DIFFICULTY ADJUSTMENT ALGORITHM OF HYBRID POW AND HPOS (1/2)

WORKLOAD REDUCTION METHOD

HENA BLOCKCHAIN

The hashing power contributable by each participating mobile device is restricted in order to avoid pitfalls such as excessive datausages and mobile device resource overload. This is accomplished through a 3 step process:

Step 1 Step 2 Step 3

Report highesthash rate

CalculateAverage

hash rate

Distribute forhashing 5%

When initially connecting to the pool,the mobile device will report its

highest hash rate

The HENA Pool will then calculate theaverage of the hash rates of the

registered mobile devices

An amount equating to 5% of thisaverage is then distributed to each

mobile device for hashing

As the number of mobile devices on the HENA blockchain grows, the total cumulative hash rate will also increase. Thus, each devices’individual contribution to confirmations and block generation will decline as a percentage of the whole.

In addition, as the performance of mobile devices continues to increase with advances in technological development, the averagemaximum reported hash rate will increase in tandem.

44

DIFFICULTY ALGORITHM OF HYBRID POW AND HPOS (2/2)

HENA’S DIFFICULTY ALGORITHM, PROVIDING EQUAL OPPORUNITY

HENA BLOCKCHAIN

No device can exceed a hash rate equal to 5% of the average maximum performance. This ensures that each individual participating in

mining has equal opportunity for influence and income, regardless of the maximum potential hash rate of a given device.

Note that the workload distributed to each device is 5% of the average maximum hash rate of each device, meaning that low-powered

devices are likely to require the use of more than 5% of their resources when participating in mining. However, this is a non-issue

because the variance in hash rates among mobile devices is much less than that of more powerful devices, including ASICs.

This workload reduction method serves another function besides equity. Extremely low-powered mobile devices may not be able to

conduct proof-of-work if given a full load. Therefore, by limiting the workload given to any one device to 5% of the average maximum,

incomplete or failed hashes will be kept to a minimum.

Bottom 10% of Devices

Assigned to the 10th percentile, as a category,for the distribution of reward based on hash

contribution

Top 10% of Devices

Assigned to the 90th percentile, as a category,for the distribution of reward based on hash

contribution

HASH RATE DISTRIBUTION METHOD FOR MOBILE DECIVCES CONNECTED TO THE POOL

45

AUTOMATED COIN GROWTH RATE VIA AN ALGORITHM

REWARD SHARES BASED ON A COMBINATION OF HYBRID POW AND POS

HENA BLOCKCHAIN

HENA’s use of hybrid delegated proof does not employ equal of portions HPOS to HPOW, initially relying entirely on verification via

HPOS. If coin rewards were issued based on only one criterion, the coin rewards allocated for mobile mining would be minimal. Thus,

HENA makes use of an algorithm that distributes reward shares based on a combination of factors. Reward distribution is based on

HPOW, not HPOS, regardless of the actual workload assigned to each device.

HPOS normally affords more opportunity for participation in block verification to those wallets that hold a greater portion of

outstanding tokens, while providing reward based on the duration of participation. However, HENA is designed to reward more

generously those mining participants that take on a higher workload, based on the implementation of HPOW, while block verification

participation remains tied to the HPOS standard. This creates an equitable ecosystem for all users of HENA.

D = Difficulty

R = Reward per block

H = Hash rate

T = Time by seconds

X = Constant

Equation of Reward (volume of mining)

𝑅

𝐷∗ 𝐻 ∗

𝑇

2𝑥

46

ARCHITECTURE OF THE HENA BLOCKCHAIN PLATFORM – NULS (1/2) HENA BLOCKCHAIN

HENA AS A NULS BASED SERVICE PROVIDER

HENA’s blockchain is based upon NULS, which prominently features modularity. This modularity allows users to customize their ownsmart contracts, arbitration systems, accounting systems, and anonymous policies, to name just a few possible use cases.

WHAT IS NULS?

NULS is a module-based blockchain that enables the running of sub-chains, and module customization. The core components of NULS are its micro kernel, and the presence of functional modules on its blockchain. The micro kernel is akin to the kernel of an operating system, such as Mac OS or Windows, and can be thought of as a bridge between the hardware and NULS’s other primary component,the functional modules. In this case, a bridge between the service bus, event bus, and the functional modules. It handles all the vital functions of the blockchain, from block generation and transaction confirmation to the hosting of smart contracts and scripts.

ModuleManager

Smartcontract

Storage Ledger Network Account Consensus Processor

Service bus

Event bus

[ Structure of the NULS Module ]

47

ARCHITECTURE OF THE HENA BLOCKCHAIN PLATFORM – NULS (2/2) HENA BLOCKCHAIN

THE FUNCTIONAL MODULE ON THE NULS BLOCKCHAIN PLATFORM

What makes NULS unique is the modularity of its design, allowing individuals or business to operate smart contracts, cross-chainfunctions (transactions or other operations between two or more otherwise separate blockchains), and anything else they can think of or implement. These ‘functional modules’ are fully customizable, giving unprecedented flexibility to the users.

The primary purpose of NULS is the simplification and reduction of workload of the blockchain development process, with the goal of helping to boost blockchain technology adaption worldwide. Such a technology, if made publicly available, can reduce the capital, labor, and development time requirements for the development and operation of blockchains.

Versatile Blockchain – Various application Usability – Easy to Understand and Use

Transparency and Confidentiality of Data High Performance

HENA is designed with ease of use as one of the top priorities. The need to be knowledgeable on

programming, mining pool connections, and other complicated procedures is eliminated.

With customizable modules such as the multi-chain system, smart contract implementation, and Dapp, HENA is highly versatile and enjoys a wide-range of

applicable use cases.

HENA features very high performance relative to other cryptocurrencies, theoretically capable of

processing millions of transactions per second via the main and sub-chain systems on the network.

Separation of data and cross-chain monitoring system ensures the confidentiality of data in the sub-chain.

Meanwhile, adequate transparency is maintained via Data Audits.

48

INTRODUCTION TO THE MODULARIZATION FRAME HENA BLOCKCHAIN

MODULARIZATION OF THE BLOCKCHAIN

One of HENA’s key characteristics is the modularization of the blockchain, a la NULS. This increases flexibility and opens up countlesspossibilities for employable applications and functions within the HENA mobile ecosystem.

The separation of the kernel and the function modules divides functionality between different code-based components on the blockchain, allowing for them to be altered separately. Existing and publicly available blockchains, such as Bitcoin and Ethereum, require difficult and cumbersome service upgrades and/or modifications as a whole if improvements are desired. This has resulted in infighting, hard-forks, soft-forks, and other such typically undesirable events on the aforementioned blockchains, as well as others.

Module Structure

Function Module Micro Kernel

1) Module management

2) Task management

3) Service management

4) Configuration management

FLEXIBLE STRUCTURE AND FUNCTIONALITY OF THE MODULE

However, thanks to HENA’s modular design, individual modules can be separately modified, replaced, upgraded, or otherwise customized without interrupting other functions on the blockchain, or any downtime outside of functions or services specific to the module being addressed.

Under HENA’s hood, the Module Manager manages ‘Service Bus’ bidirectional communication between the micro kernel and the function module. The 'Service Bus' manages the service handle of each of the modules, and 'Event Bus' is responsible for the announcement and subscription of module events to devices on the network.

49

MODULE MANAGEMENT HENA BLOCKCHAIN

THE LIFE CYCLE OF A MOUDLE – FROM BIRTH TO RETIREMENT

The module manager manages the life cycle of the modules within the nodes. The figure below shows the life cycle of a module andits steps, from when it is first initialized to destruction.

Module Structure United

Initialization

Initialized

Starting

Running

Stopping

Stopped

Destroying

Destroyed

Uninitialized

XXX_Module

Call init()

Return

Call Start()

Return

Call Stop()

Return

Call Stop()

Return

Init Module

Start Module

Stop Module

Stop Module

RemoveModule

The Life Cycle of a module

It includes the following steps:

United, Initialization, Initialized,

Starting, Running, Stopping,

Stropped, Destroying, and

Destroyed.

50

TASK MANAGEMENT HENA BLOCKCHAIN

THE PROCESSES AND THREADS OF TASK MANAGEMENT THROUGH NULS

The Task Management controls two types of tasks: Processes and Threads. The Kernel uses Task Management to manage all tasks onthe blockchain. The figure below shows the flow of generation of Processes and Threads whenever a module is started.

ModuleManager

Procedures

1) The Module Manager creates a Process using the Process Factory.

2) Registers the created Process information in the Task Manager.

3) The Task Manager records the Process information.

4) The Process Factory returns the Process to the Module Manager.

5) Module Manager calls the Module Start Method to start Module.

6) The Module executes n tasks, creating n threads.

7) The Thread Factory registers the Thread information of all created

threads in the Task Management.

8) The Task Manager records the Thread information.

9) The Thread Factory returns n Threads to the Module.

10) The Module starts one task in each of the created Threads.

11) The Module starts work in each Process.

12) Module Status: Running.

XXX_Manager

ProcessManager

ThreadManager

TaskManager

Get a Nuls ProcessCreate aNuls Process

Return a Nuls ProcessRegister the process Record the

process

Start themodule in theNuls process

Get a Nuls ThreadsCreate nNule Threads

Record theThreads

Register theThreads

Return n Nuls Threads

Start task_1 in the first thread

……….

Start task_n in the first thread

51

SERVICE MANAGEMENT AND MODULE LAYER HENA BLOCKCHAIN

HENA SYSTEM & SERVICE MANAGEMENT THROUGH NULS

The NULS system, upon which HENA’s modularity is based,

consists of a series of module, each of which provide a functional

service to the users. The Service Manager is used to manage

these services.

(If you are familiar with the operation of Microsoft Windows OS,

you can regard Service Manager as analogous to a Windows DLL

registration table. Once the DLL is registered in the registry, the

developer obtains the DLL service handler from the registry and

calls the service by referring to the DLL provider documentation)

HENA provides documentation for the service interface, in

addition to original sources for all modules developed according

to NULS-provided specifications. HENA is thus a NULS-based

service provider as far as extension module development is

concerned.

MODULE LAYER

Each module has the ability to define its own assigned services,

and can also be designed to make use of services provided by

other modules. The Service Manager remains the central

manager of all available services on the blockchain.

Module Structure

BasicInformation

ModuleService

ModuleEvents

ModuleConfiguration

52

MODULE IMPLEMENTATION (1/2) HENA BLOCKCHAIN

SEPARATION OF MODULES ALLOWS FOR VARIATION

It is the separation of the modules from the kernel and the core functions of HENA’s network that allow each functional module to

have a variety of implementation methods. Each can be upgraded, modified, or replaced independent of each other and of the other

components of the blockchain.

[ Structure of Module Implementation ]

Definition isPublic

Service bus

Event bus

YYY_Module Definition

EventDocument

ServiceDocument

ConfigDocument

ModuleBasic info

XXX_Module Definition

XXX_ModuleImplement_B

EventDocument

ServiceDocument

ConfigDocument

ModuleBasic info

XXX_ModuleImplement_A

YYY_ModuleImplement_A

Definition isPrivate

53

MODULE IMPLEMENTATION (2/2) HENA BLOCKCHAIN

DEVELOPMENT OF MODULE BOOTSTRAP

Based on the Module Configuration File, a startup module is automatically loaded when each node is initialized, depending on its

unique characteristics. During operation, the node can dynamically load the module by executing the module loading method handled

by the Module Manager. The loading processor for each module is performed by means of a module bootstrap, which is an integrated

base class within the Module Manager.

All module bootstraps should be developed based on this base class and managed by the Kernel. The module bootstrap is defined as

follows:

Module InitializationMethod

Task initialization

Task termination

Module destruction

Responsible for loading the configuration, managing the cache, and creating a module message queue

In order to start a task, module services are registered with theService Manager and subscribed to events of interest in that module.This process includes processor and filter registration for each event

Cancels the subscription to module’s event and stops the module'sinternal services and all internal operations

Deletes the cache and message queues generated within this module.

1

2

3

4

54

EVENT DRIVEN (1/4) HENA BLOCKCHAIN

THE EVENT DRIVEN NATURE OF MODULES ON THE BLOCKCHAIN

What blockchain technology can really be thought of is the backbone driving a series of single events. For example, each time a

transaction is processed that is a single event. Each module completes logic processing based on a variety of events. HENA’s Event Bus

uses Disruptor Frame-Work to publish/subscribe to the event model. Each module can publish its own events as well as subscribe to

events posted by other modules. Depending on the situation, each event is divided into two types, Local and Network Events.

A Local Event is one in which logical events undergo asynchronous communication between different modules within the same node. These events are not distributed over the network, but instead are sent directly to the Local Event Distributor / Dispatcher, which then instructs other modules to process the required business logic. Conversely, a Network Event is used for asynchronous communication between two or more nodes. Such an event is sent to other nodes on the network. The data structure is interpreted internally by the module, and each module has no need to know the data structures of the other modules.

LOCAL EVENT AND NETWORK EVENTS EXPLAINED

Local Event

Local Event

Local Event

ModuleX

ModuleX

ModuleX

ModuleY

Network Event

Network

Event

ModuleY

ModuleY

55


FUNCTIONALITY OF THE EVENT BUS

Module developers can define their own modules via the module instructions. These instructions fully describe all events possible for

any given module. This enhances customizability to a great degree.

If other module developers wish to subscribe to the event of a specific module, they should create a Handler and also register that Handler with the Event Bus.

The Filter Chain is designed to improve flexibility and scalability. This filter can be applied to any Handler that is connected to one or more module events.

The dispatch functionality of the Event Bus is implemented using Disruptors.

Disruptors themselves are operated on single threads. To improve efficiency, disruptors are responsible for dispatchers, and do not handle any business logic. When an event is published, the operator sends each subscriber's handler to its own independent in-thread.

Event bus

Workers(a Nuls Thread pool)

Publisher Dispatcher Subscriber

Filters

FilterChain

HandlerChain

Event

Subscriberevent

Publish anevent

[ Structure of the Event Bus ]

A Handler

56


LAYERED DATA STRUCTURE OF THE BLOCKCHAIN

Events can be published or subscribed to between different nodes and modules within said node. HENA’s data communication protocol

stack is built on the TCP protocol.

• Logic Layer: The Logic Layer defines the business logic of each module at the upper level.• Event layer: A four-digit byte is added to the event header prior to the business data. The event header contains the module

identification number and the event identification number. Each event has its own unique event header. The module publishesnew, or subscribes to existing events based on the event header.

• Network Layer: 10 bytes are added before the event layer data in the network message header. This strong of bytes includes themagic number, data length, odd/even parity bits, and encryption type.

It consists of the network layer, event layer, and logic layer, from bottom to top.

TCP Network Layer

Nuls Network Layer

Nuls Event Layer

Logic LayerLogic Data

Nuls Event DataNuls Event Header (4 Bytes)

Nuls Message DataNuls Message Header (10 Bytes)

TCP Header TCP Header

57


THE STRUCTURE OF THE NETWORK LAYER

The structure of the Network layer consists of a message header and a message body. The message header includes a magic number,

data length, the Xor byte, and encrypted data, while the event header contains both a module ID and event type.

Encrypt Type (1 Byte)

Xor Check (1 Byte)

Data Length (4 Byte)

Magic Number (4 Byte)

Event Type ( 2 Byte)

Module ID (2 Byte)

Body

EventHeader

EventBody

MessageHeader

MessageBody

[ Structure the Network Layer ]

Name Length Description

MessageHeader

MagicNumber

4 BytesUsed to divide a cross-chain network segment. Packets on other network segments are filtered by the network layer.

Data Length 4 Bytes Defines length of the message body

Xor 1 BytesOdd/even Parity bit of massage body Failed data is filtered by filter of network layer

Encrypt Type 1 BytesPassword setting method Used to expand password setting of network layer packets

EventHeader

Module ID 2 Bytes Identification number of module

Event Type 2 Bytes Internal event number of module

58

Multi ChainHENA BLOCKCHAIN

HENA’S QUALITY ENHANCEMENT THROUGH MULTI-CHAINS

The support for Multiple-Chains is another way in which the HENA platform will be a standout in terms of flexibility and functionality.

Based on the NULS solution, the modularity adopted by HENA supports Sub-Link registration and Access provision. In this way, the

main chain and sub-chain are able to verify generated blocks and transactions using a cross-chain consensus. This allows for multiple

tokens, including those of sub-chains, to be exchanged on either the primary chain or one or more sub chains. The primary chain

provides secure verification of these exchanges.

NULS Solutions

Sub-linkgeneration

Accessprovision

Main-Chain and Sub-Chain

Generatedblocks

Transactions

Multiple Tokens

Exchange ofmultiple token

59

CROSS CHAIN CONSENSUS (1/5) HENA BLOCKCHAIN

C3D: CROSS CHAIN CONSENSUS DOMAIN

Another feature of HENA that differentiates it

from most other blockchain implementations is

its Cross Chain functionality. The cross chain

Consensus Domain consists of a main chain node

and a sub-chain node. This allows transactions

and messages to be relayed between two or

more separate chains. Multiple nodes provide

the processing for these functions.

NulsNode

NulsNode

NulsNode

NulsNode

NulsNode

NulsNode

NULS consensus

domain

Sub-ChainConsensus Domain A

Sub-ChainConsensus Domain B

Cross-Chain

Consensus Domain B

Cross-Chain

Consensus Domain A

[ Structure the NULS Cross Chain Consensus System ]

60


C3N: CROSS CHAINCONSENSUS NODE

Any nodes participating in the Cross Chain Consensus Domain can load additional modules (ex: Network Module, Cross Link Protocol

Processor Module, etc.) that are required for the Cross Chain Consensus.

[ Composition of the NULS Cross Chain Consensus Node ]

NULS Node

NulsModule Group

Cross ChainModule Group

Cross ChainNetworkmodule

Cross ChainProcessormodule

Sub-Chain Node

Cross ChainModule Group

Sub chainModule Group

Cross ChainNetworkmodule

Cross ChainProcessormodule

Network andprotocol

61


THE WORKINGS OF THE CROSS CHAIN TRADING LEDGER

The Cross Chain Consensus Module requires the implementation of protocol converters, and is responsible for switching the formatsof transaction messages for both sub-chain and cross chain transactions.Cross chain transactions are divided into two types: Primary and sub-chain. The primary chain checks the sub-chain / alliance-chain byproofing message integrity, and the transaction then becomes a block header for the sub-chain.In the case of an asset transaction, the cross chain trading ledger stores the details of all transactions.

Block of Sub chain_B

Block HeadLogic_TX_B_1_Hash

Block Hash of Sub Chain_B

Cross Chain_TX_B_1_Hash

Logic_TX_B_1_Contract

Cross Chain_TX_B_1_Contract

Block of Sub chain A

Block HeadLogic_TX_A_1_Hash

Block Hash of Sub Chain_A

Cross Chain_TX_A_1_Hash

Logic_TX_A_1_Contract

Cross Chain_TX_A_1_Contract

Cross Block

Cross Block of Sub chain A

Block HeaderCross Chain_TX_A_1_Hash

Cross Chain_TX_A_1_Contract

Cross Block of Sub chain B

Block HeaderCross Chain_TX_B_1_Hash

Cross Chain_TX_B_1_Contract

62


TRANSACTION CONFIRMATION OF CROSS-CHAIN TRANSACTIONS

Nodes A and B of the primary chain, and nodes C and D of sub-chain form the Cross Chain Node (C3N), as shown in previous slide.When the sub-chain generates a new block, nodes C and D collect the Cross Chain transaction in the new block and create a CrossChain block to broadcast to the C3N node.Nodes C and D are responsible for verifying each block’s integrity. Once nodes A and B receive a cross-link block, they are validated bynon-broadcast nodes.

C3N

Sub ChainC3DNuls

NulsLedger

Cross ChainLedger

Sub ChainLedger

A

B

C

D

63


PRIVATE CHAIN DATA AUDIT

Some of the most important and attractive aspects of blockchain technology is the high level of security, confidentiality of transactions, and transparency as to the operation of the network. Through the implementation of NULS, HENA is able to secure the primary chain, sub-chains, and all modules on-board. This is accomplished via data separation and trans-chain auditing. Data transparency is accomplished in terms of the knowledge that all transactions are properly confirmed, while maintaining confidentiality for business actions, or individuals’ private transactions. This is affected by the primary chain, which is capable of verifying message integrity on the private chain whenever a sub-chain places a block header into a transaction. In this way, companies or other groups operating modules on the blockchain and prove their integrity in the eyes of the public. More specifically, the private chain reports the block header to the primary chain via the cross chain consensus. The primary chain then manages a complete message outline for the sub-chain. These sub-chain produced messages are then verified. Therefore, the recording of the sub-chain block header into the chain results in a service charge paid in a specified token.

Block of Nuls

Block Head

Block Body

TX_1_Hash…

TX_n_Hash

Block hash of Nuls

TX_1_contentTX_m_contentTX_n_content

Block of Subchain_A

Block Head

Block Body

TX_1_Hash…

TX_n_Hash

Block hash of Subchain_A

TX_1_content…..

TX_n_content

The tx_contentis confidential

Save the blockheadto a tx in Nuls

64

HENA Initial Deployment Method - Funding for the Future

Issue and assign HENA coins

There is a total of 1 billion HENA coins initially generated during funding for this project. This will be distributed as follows: :

. Donation participant 30 %

. Partner program10 %

. HENA development 25 %

. Eco System 20 %

. Advisor 5 %

. Reserve 10 %

The funds raised are used to promote the development of HENA block chains and ecosystems. The expenses included in this fund include research and development, business development, marketing, legal costs and other expenses required for development.

ROADMAP

2Q 17 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19

- Idea Generation

- Yellow paperwriting

- Establish HENA Foundation

- Token Generation

- Launch Hybrid Consensus

- Launch AICModule

- Launch ATM

- Launch an Exchange

- Launch DTM (Direct Trading Market)

- Launch Personal Information Private Blockchain

- Launch AIC Private Blockchain

- HENA Website- HENA APK Ver.

0.9 Launch- Cold Wallet

Sample Launch- AIC Ver. 0.9

Launch- Mobile mining

Ver. 0.9 Launch

- Payment launch- Wallet APP launch- Mobile mining Ver.

2.0 launch- listing on the

exchange

66

Disclaimer

General Disclaimer

This whitepaper (the “Whitepaper") is being provided upon your request for informational purposes only, and is not intended to be, and must not be, taken as any suggestion for a particular investment decision. By the acceptance hereof, you agree that (i) the information contained herein may not be reproduced or distributed to others, in whole or in part, for any purpose without fist the prior written consent of HENA; (ii) you will keep confidential all information contained herein that is not already available in the public domain; (iii) the Whitepaper contains highly confidential and proprietary 'trade secrets‘ (some of which may constitute material non-public information); and (iv) you will use the information contained in this Whitepaper for informational purposes, and will not engage in securities trades on the basis of any such information. The contents hereof should not be construed as investment, legal, tax or any other form advice, and you should consult your own advisers in pertaining to those matters. Unless otherwise noted, the information contained herein has been compiled as of August 31st, 2018, and is in preliminary, unaudited form, and therefore subject to change. There is no obligation on our part to update the information provided herein.

This Whitepaper does not constitute an offer to sell or a solicitation of an offer to buy any securities. Prior to finishing reading the full disclaimer, do not in any way take any actions. The information disclosed on the website, or contained in this whitepaper, is neither a guide nor recommendation for investment. The tokens issued through HENA in any case shall not be treated as marketable securities, nor the equivalents of such. If you have decided to partake in the development of HENA, your contribution will not include any form of sales, nor exchange of the token for any marketable securities or any unit of investment. None of the holders of the token are entitled to receive any dividends, nor any other form of income.

No representation or warranty is given with respect to the information contained herein, and the delivery of this document will not under any circumstances create any implication that HENA has updated the information contained herein. Information throughout the Whitepaper provided by sources other than HENA have not been independently verified. Differences between past performance and actual results may be material and adverse.

Due to the regulatory complexity, and policy uncertainty relating to the United States, residents or permanent residents of the United States are prohibited from participating in the funding of HENA or receiving any tokens. If false information is used in order to contribute to funding, the user shall thereby be in violation of the terms and conditions of HENA, and HENA reserves the right to demand compensation for any damages resulting from any individual engaging in such behavior. If the region presents the possibility of causing a violation of the terms and conditions, you are not to distribute nor make any copies of any information provided by HENA, including the information disclosed on the website or within the Whitepaper. The information herein has not been examined nor approved by any regulatory authority, and is not indicative of the issuance nor distribution of the Whitepaper having complied with appropriate regulations and requests of any regulatory authority.

To the maximum extent permitted by applicable laws and regulations, HENA’s entrepreneurs and team members shall not be liable for any losses incurred from any direct or indirect participation of investment in the HENA project by an artist or individual. This Whitepaper contains information taken from market research reports, industrial publications, and internal research, which are considered to be generally reliable sources. However, there is no assurance of the accuracy or credibility of such reports.

None of the information provided within this Whitepaper shall be treated as any form of advice regarding business, law, finance, or tax matters with respect to the development of the HENA platform.

All information presented on HENA’s website, in the Whitepaper, and other documents is presented as best practice and, unless explicitly stated on a fundraiser’s terms and conditions, all information is non-binding and shall not be acted on as such in any form or manner.

Any information or documents provided by HENA may not be copied, distributed, or retransmitted without the inclusion of the “Disclaimer”.

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