1RZDGD\V FRPSXWHU QHWZRUNV DUH XVX DOO\ ODUJH DQG GLYHUVH V\VWHPV WKDW
FRPPXQLFDWH XVLQJ D ZLGH YDULHW\ RI SURWRFROV 7KLV FRPSOH[LW\ FUHDWHG WKH QHHG IRU PRUH VRSKLVWLFDWHG WRROV WR PRQLWRU DQG WURXEOHVKRRW QHWZRUN WUDI?F 7RGD\ RQH RI WKH FULWLFDO WRROV LQ DQ\ QHWZRUN DGPLQLVWUDWRU WRRO ER[ LV WKH VQLIIHU
6QLIIHUV DOVR NQRZQ DV SDFNHW DQDO\]HUV DUH SURJUDPV WKDW KDYH WKH DELOLW\ WR LQWHUFHSW WKH WUDI?F WKDW SDVVHV RYHU D QHWZRUN 7KH\ DUH YHU\ SRSXODU EHWZHHQ QHWZRUN DGPLQLVWUDWRUV DQG WKH EODFN KDW FRPPXQLW\ EHFDXVH WKH\ FDQ EH XVHG IRU ERWK ± JRRG DQG HYLO ,Q WKLV DUWLFOH ZH ZLOO JR WKURXJK PDLQ SULQFLSOHV RI SDFNHW FDSWXUH DQG LQWURGXFH OLESFDS DQ RSHQ VRXUFH DQG SRUWDEOH SDFNHW FDSWXUH OLEUDU\ ZKLFK LV WKH FRUH RI WRROV OLNH WFSGXPS GVQLII NLVPHW VQRUW RU HWWHUFDS
3DFNHW &DSWXUH
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
3URJUDPPLQJ ZLWK /LESFDS ± 6QLI?QJ WKH 1HWZRUN
)URP 2XU 2ZQ $SSOLFDWLRQ /XLV 0DUWLQ *DUFLD
'LI?FXOW\
3URJUDPPLQJ ZLWK /LESFDS
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
:KHQ ZH XVH D VQLIIHU SDFNHWV JR WKURXJK WKH VDPH SURFHVV GH VFULEHG DERYH EXW ZLWK RQH GLIIHU HQFH WKH QHWZRUN GULYHU DOVR VHQGV D FRS\ RI DQ\ UHFHLYHG RU WUDQVPLWWHG SDFNHW WR D SDUW RI WKH NHUQHO FDOOHG WKH SDFNHW ?OWHU 3DFNHW ?OWHUV DUH ZKDW PDNHV SDFNHW FDSWXUH SRV VLEOH %\ GHIDXOW WKH\ OHW DQ\ SDFNHW WKURXJK EXW DV ZH ZLOO VHH ODWHU
WKH\ XVXDOO\ RIIHU DGYDQFHG ?OWHULQJ
FDSDELOLWLHV $V SDFNHW FDSWXUH PD\
LQYROYH VHFXULW\ ULVNV PRVW V\VWHPV
UHTXLUH DGPLQLVWUDWRU SULYLOHJHV LQ
RUGHU WR XVH WKLV IHDWXUH )LJXUH
LOOXVWUDWHV WKH FDSWXUH SURFHVV
/LESFDS
/LESFDS LV DQ RSHQ VRXUFH OLEUDU\ WKDW
SURYLGHV D KLJK OHYHO LQWHUIDFH WR QHW
ZRUN SDFNHW FDSWXUH V\VWHPV ,W ZDV
FUHDWHG LQ E\ 0F&DQQH /HUHV
DQG -DFREVRQ ± UHVHDUFKHUV DW WKH
/DZUHQFH %HUNHOH\ 1DWLRQDO /DERUD
WRU\ IURP WKH 8QLYHUVLW\ RI &DOLIRUQLD DW
%HUNHOH\ DV SDUW RI D UHVHDUFK SURMHFW
WR LQYHVWLJDWH DQG LPSURYH 7&3 DQG
,QWHUQHW JDWHZD\ SHUIRUPDQFH
/LESFDS DXWKRUV PDLQ REMHFWLYH
ZDV WR FUHDWH D SODWIRUP LQGHSHQG
HQW $3, WR HOLPLQDWH WKH QHHG IRU
V\VWHP GHSHQGHQW SDFNHW FDSWXUH
PRGXOHV LQ HDFK DSSOLFDWLRQ DV YLU
WXDOO\ HYHU\ 26 YHQGRU LPSOHPHQWV
LWV RZQ FDSWXUH PHFKDQLVPV
7KH OLESFDS $3, LV GHVLJQHG WR
EH XVHG IURP & DQG & +RZHYHU
WKHUH DUH PDQ\ ZUDSSHUV WKDW DOORZ
LWV XVH IURP ODQJXDJHV OLNH 3HUO
3\WKRQ -DYD & RU 5XE\ /LESFDS
UXQV RQ PRVW 81,; OLNH RSHUDWLQJ
V\VWHPV /LQX[ 6RODULV %6' +3
8; 7KHUH LV DOVR D :LQGRZV YHU
VLRQ QDPHG :LQSFDS 7RGD\ OLESFDS
LV PDLQWDLQHG E\ WKH 7FSGXPS *URXS
)XOO GRFXPHQWDWLRQ DQG VRXUFH FRGH
LV DYDLODEOH IURP WKH WFSGXPS V RI?FLDO
VLWH DW KWWS ZZZ WFSGXPS RUJ KWWS
ZZZ ZLQSFDS RUJ IRU :LQSFDS
2XU )LUVW 6WHSV
:LWK /LESFDS
1RZ WKDW ZH NQRZ WKH EDVLFV RI
SDFNHW FDSWXUH OHW XV ZULWH RXU RZQ
VQLI?QJ DSSOLFDWLRQ
7KH ?UVW WKLQJ ZH QHHG LV D QHW
ZRUN LQWHUIDFH WR OLVWHQ RQ :H FDQ
HLWKHU VSHFLI\ RQH H[SOLFLWO\ RU OHW
OLESFDS JHW RQH IRU XV 7KH IXQFWLRQ
FKDU SFDS B ORRNXSGHY FKDU HUUEXI
UHWXUQV D SRLQWHU WR D VWULQJ FRQWDLQ
LQJ WKH QDPH RI WKH ?UVW QHWZRUN
GHYLFH WKDW LV VXLWDEOH IRU SDFNHW FDS
WXUH 8VXDOO\ WKLV IXQFWLRQ LV FDOOHG
ZKHQ HQG XVHUV GR QRW VSHFLI\ DQ\
QHWZRUN LQWHUIDFH ,W LV JHQHUDOO\
D EDG LGHD WR XVH KDUG FRGHG LQWHU
IDFH QDPHV DV WKH\ DUH XVXDOO\ QRW
SRUWDEOH DFURVV SODWIRUPV
)LJXUH (OHPHQWV LQYROYHG LQ WKH FDSWXUH SURFHVV
7KH HUUEXI DUJXPHQW RI SFDS B ORRNXSGHY LV D XVHU VXSSOLHG EXIIHU WKDW WKH OLEUDU\ XVHV WR VWRUH DQ HUURU PHVVDJH LQ FDVH VRPHWKLQJ JRHV ZURQJ 0DQ\ RI WKH IXQFWLRQV LPSOH PHQWHG E\ OLESFDS WDNH WKLV SDUDP
HWHU :KHQ DOORFDWLQJ WKH EXIIHU ZH
KDYH WR EH FDUHIXO EHFDXVH LW PXVW EH
DEOH WR KROG DW OHDVW 3&$3B(55%8)B
6,=( E\WHV FXUUHQWO\ GH?QHG DV
2QFH ZH KDYH WKH QDPH RI WKH
QHWZRUN GHYLFH ZH KDYH WR RSHQ
LW 7KH IXQFWLRQ SFDS B W SFDS B
RSHQ B OLYH FRQVW FKDU GHYLFH LQW
VQDSOHQ LQW SURPLVF LQW WR B PV
FKDU HUUEXI GRHV WKDW ,W UHWXUQV DQ
LQWHUIDFH KDQGOHU RI W\SH SFDS B W WKDW
ZLOO EH XVHG ODWHU ZKHQ FDOOLQJ WKH UHVW
RI WKH IXQFWLRQV SURYLGHG E\ OLESFDS
7KH ?UVW DUJXPHQW RI SFDS B
RSHQ B OLYH LV D VWULQJ FRQWDLQLQJ
WKH QDPH RI WKH QHWZRUN LQWHUIDFH
ZH ZDQW WR RSHQ 7KH VHFRQG RQH
LV WKH PD[LPXP QXPEHU RI E\WHV WR
FDSWXUH 6HWWLQJ D ORZ YDOXH IRU WKLV
SDUDPHWHU PLJKW EH XVHIXO LQ FDVH
ZH DUH RQO\ LQWHUHVWHG LQ JUDEELQJ
KHDGHUV RU ZKHQ SURJUDPPLQJ IRU
HPEHGGHG V\VWHPV ZLWK LPSRUWDQW
PHPRU\ OLPLWDWLRQV 7\SLFDOO\ WKH
PD[LPXP (WKHUQHW IUDPH VL]H LV
E\WHV +RZHYHU RWKHU OLQN
W\SHV OLNH )'', RU KDYH ELJ
JHU OLPLWV $ YDOXH RI VKRXOG
EH HQRXJK WR KROG DQ\ SDFNHW IURP
DQ\ QHWZRUN
7KH RSWLRQ WR B PV GH?QHV KRZ
PDQ\ PLOOLVHFRQGV VKRXOG WKH NHUQHO
ZDLW EHIRUH FRS\LQJ WKH FDSWXUHG
LQIRUPDWLRQ IURP NHUQHO VSDFH WR
XVHU VSDFH &KDQJHV RI FRQWH[W DUH
FRPSXWDWLRQDOO\ H[SHQVLYH ,I ZH DUH
FDSWXULQJ D KLJK YROXPH RI QHWZRUN
WUDI?F LW LV EHWWHU WR OHW WKH NHUQHO
JURXS VRPH SDFNHWV EHIRUH FURVV
LQJ WKH NHUQHO XVHUVSDFH ERXQG
DU\ $ YDOXH RI ]HUR ZLOO FDXVH WKH
UHDG RSHUDWLRQV WR ZDLW IRUHYHU XQWLO
HQRXJK SDFNHWV DUULYHG WR WKH QHW
ZRUN LQWHUIDFH /LESFDS GRFXPHQWD
WLRQ GRHV QRW SURYLGH DQ\ VXJJHVWLRQ
IRU WKLV YDOXH 7R KDYH DQ LGHD ZH
FDQ H[DPLQH ZKDW RWKHU VQLIIHUV GR
7FSGXPS XVHV D YDOXH RI GVQLII
XVHV DQG HWWHUFDS GLVWLQJXLVKHV
EHWZHHQ GLIIHUHQW RSHUDWLQJ V\VWHPV
XVLQJ IRU /LQX[ RU 2SHQ%6' DQG
IRU WKH UHVW
7KH SURPLVF àDJ GHFLGHV ZKHWK
HU WKH QHWZRUN LQWHUIDFH VKRXOG EH
SXW LQWR SURPLVFXRXV PRGH RU QRW
7KDW LV ZKHWKHU WKH QHWZRUN FDUG
VKRXOG DFFHSW SDFNHWV WKDW DUH QRW
GHVWLQHG WR LW RU QRW 6SHFLI\ IRU
QRQ SURPLVFXRXV DQG DQ\ RWKHU
YDOXH IRU SURPLVFXRXV PRGH 1RWH
WKDW HYHQ LI ZH WHOO OLESFDS WR OLVWHQ
LQ QRQ SURPLVFXRXV PRGH LI WKH
LQWHUIDFH ZDV DOUHDG\ LQ SURPLVFX
RXV PRGH LW PD\ VWD\ WKDW ZD\ :H
VKRXOG QRW WDNH IRU JUDQWHG WKDW ZH
ZLOO QRW UHFHLYH WUDI?F GHVWLQHG IRU
RWKHU KRVWV LQVWHDG LW LV EHWWHU WR
XVH WKH ?OWHULQJ FDSDELOLWLHV WKDW OLE
SFDS SURYLGHV DV ZH ZLOO VHH ODWHU
2QFH ZH KDYH D QHWZRUN LQWHU
IDFH RSHQ IRU SDFNHW FDSWXUH ZH
KDYH WR DFWXDOO\ WHOO SFDS WKDW ZH
ZDQW WR VWDUW JHWWLQJ SDFNHWV )RU WKLV
ZH KDYH VRPH RSWLRQV
7KH IXQFWLRQ FRQVW
X B FKDU SFDS B QH[W SFDS B W S VWUXFW SFDS B SNWKGU K WDNHV WKH
SFDS B W KDQGOHU UHWXUQHG E\
SFDS B RSHQ B OLYH D SRLQWHU WR
D VWUXFWXUH RI W\SH SFDS B SNWKGU
DQG UHWXUQV WKH ?UVW SDFNHW WKDW
DUULYHV WR WKH QHWZRUN LQWHUIDFH
7KH IXQFWLRQ LQW SFDS B
ORRS SFDS B W S LQW FQW
SFDS B KDQGOHU FDOOEDFN X B FKDU
XVHU LV XVHG WR FROOHFW SDFNHWV
DQG SURFHVV WKHP ,W ZLOO QRW UH
WXUQ XQWLO FQW SDFNHWV KDYH EHHQ
FDSWXUHG $ QHJDWLYH FQW YDOXH
ZLOO FDXVH SFDS B ORRS WR UHWXUQ
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à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à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à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à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à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z