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0chain Team Talks AWS Partnership and Decentralized Enterprise Blockchains

0chain describes itself as the “worlds fastest enterprise blockchain.” The company provides a combination of blockchain-as-a-service and decentralized cloud storage to enterprises wishing to adopt blockchain solutions. The 0chain protocol is self-forking, meaning 0chain is completely customizable to the requirements of different organizations, which can use it to create dapps designed to serve their own needs. 0chain is super-fast, processing 1000 transactions per second. The protocol was conceived out of a recognition of the current problem set with existing blockchain including scalability and energy consumption. It runs on a unique consensus protocol with different parties called miners, sharders, and blobbers participating in block production. Miners generate the blocks, sharders store the blocks, and blobbers store unstructured data for web and IoT applications. The company has recently announced a partnership with Amazon Web Services (AWS) and is about to launch its mainnet. We recently had a chance to catch up with three of the 0chain team to discuss these developments. Saswata Basu (SB) is a founder and co-author of the 0chain white paper. Phil Castillo (PC)) joined 0chain in July this year as Chief Revenue Officer from his last role in Hewlett Packard. Derick Fieberger (DF) is 0chains Operations Director, alongside his role as Founder/Chief Investment Officer at Arturo Capital. (L-R) Basu, Castillo, and Fieberger from 0chain Here’s what they had to say: 0chain recently announced it has achieved the Standard Partnership Certification with the AWS Partner Network. For our readers, can you explain in more detail what this means? What’s the scope of the interaction between AWS and 0chain and how is this beneficial for each party?    PC: Our AWS Standard Partnership is one small piece of our relationship with AWS and enables 0chain to be marketed as an AWS solution partner to their thousands of customers. Our devnet today is built on AWS. When companies use 0chain’s blockchain, this benefits AWS as it means the likely consumption of their cloud services. We are one of the first companies providing not only blockchain-as-a-service but also decentralized storage via blockchain which is very appealing to AWS and their customers. We are working on the Advanced level partnership and have numerous conversations and touch points with AWS on a number of different fronts promoting our joint solution. They have been very generous investing in us and defraying much of the cost of our existing global cloud consumption. Custom forks of our blockchain will likely be created leveraging enterprise-grade service providers like AWS. As a result, miners and blobbers don’t need to invest in specialized hardware to participate with 0chain and can leverage AWS and other cloud solution providers. 0chain also partners with other crypto- and blockchain-based projects such as Bitclave and NEO. Can you provide more details about how these partnerships work? SB: The partnerships with these projects are to enable applications to use the 0chain platform to store, read, and monetize their data automatically without having to write elaborate smart contracts. Aside from high reliability, availability, and faster performance, the 0chain protocol will provide transparency of data reads and writes, and enable disbursement to different entities associated with the data.  DF: There are several angles we can approach a partnership with a crypto project and provide benefits. For simplicity’s sake, we can focus on our dCloud, which is our most popular innovation. How can dCloud help a crypto project? In order for a public ledger or a decentralized application to operate properly – in most cases – it must utilize enterprise-grade hardware to accommodate the storage and compute demands of the protocol or application. Also in most cases, dapps and validators are using the public cloud to address these storage demands. 0chain will offer a decentralized public cloud solution. Since crypto is very focused on preserving decentralization, offering a decentralized cloud (dCloud) in place of the standard public cloud, at less cost without sacrificing performance provides a very appealing offering to these projects. This is why several crypto projects have already sought us out. Many enterprise-standard blockchains have come under fire within the blockchain community for failing to deliver on the promise of decentralization. How do you feel about this? How does 0chain operate in a way that allows it to balance decentralization against the privacy, scalability, and the resilience requirements of an enterprise-level distributed ledger? PC: The criticisms of current 1.0 blockchain solutions are understandable, some are even block-less environments and others don’t fully encompass blockchain’s core decentralized benefits as you have pointed out. At 0chain we saw the need for a truly enterprise-class, ultra-fast, fully featured blockchain with added innovations relative to storage via blockchain. So we built ours from the ground up. One of our core differentiators is that our primary go to market system is a public, fully decentralized blockchain (our mainnet) that is designed for miners, blobbers, and sharders to participate independently. We have unhooked the need for specialized mining hardware so miners/blobbers may leverage any cloud infrastructure they choose. Another attractive offer for enterprises is the ability to fork from our mainnet and create a custom dApp. In these instances, an enterprise can customize the miner profiles and other parameters to suit their applications’ needs. Miners and blobbers will be encouraged to participate in building consensus and providing storage for these forks and thus be decentralized. SB: Of the privacy, scalability, and resilient requirements of an enterprise ledger, the latter two are inherent in our system, and in fact, we are better.  By decoupling miners, sharders, blobbers we’ve made our network faster, more scalable, and more resilient to failure or any Byzantine condition. The privacy part of the requirement can be implemented through smart contracts, and this will provide a faster and more secure execution of the transaction than using Hyperledger or Corda channel constructs.  A mini-explainer of how 0chain works Blockchain-as-a-service is a pretty broad scope. Can you tell us what kind of clients you foresee being the first ones to take up the 0chain BaaS offering? PC: Some of our conversations currently include: Solution providers wanting to add blockchain as an immutable record for storing JSON IoT data from sensors on cold storage trucks. With 0chain, they are able to quickly provide real-time food safety data in case of recalls, or other uses. Another company is using our solution to provide a layer of secured data storage, tracking all reads/writes, to deliver permissioned access for a portion of their storage. We also see interest in companies wanting to have their own service storing data via a wallet that enables better control over privacy, security, and economics compared to Dropbox or Box. BaaS is pretty straightforward, but when you add in being able to store JSON and other small datasets on the chain or storing large data sets via blockchain, it allows for the creation of many new and emerging uses. One of the main blockers to enterprise adoption of blockchain is privacy and confidentiality – particularly in the financial sector. How does 0chain seek to assure potential clients that data held in its public blockchains is protected against hacks, and cloaked with the necessary confidentiality? SB: 0chain has a secure software wallet, the first of its kind, to prevent hacks to companies’ tokens or data. Additionally, enterprises can encrypt their data to protect their privacy. 0chain’s blockchain platform enables users to track writes and reads to provider further transparency regarding any access to their data. Recent blog posts indicate that the 0chain PoS consensus protocol is still under testing. Can you provide us with a brief overview of how the consensus protocol will work and the anticipated transaction speeds? SB: We are a variant of DFinity consensus, where we have a smaller active set that is shuffled based on stake from the pool. The pool is not connected to the network, but connects during the shuffling rounds and syncs up with the network. Additionally, we have optimized our communication mechanism to provide faster finality. Furthermore, our consensus is achieved based on a count-and-stake model to enable a higher level of security. Shortly, we will release our consensus protocol paper and will explain all these aspects in detail. How can miners or other service providers get involved in the 0chain network? PC: We welcome all miners, sharders, and blobbers to reach out to us via our Telegram channel or directly at zero@0chain.net. Service providers are best to contact me (Phil Castillo), our CRO, at phil@0chain.net and can learn more about us at www.0chain.net. 0chain is purposely designed to be self-forking so that enterprises can have a blockchain that meets their specific requirements. Can you explain (as non-technically as possible) how this works in practice to ensure sustainability? Is there any risk of decreasing the size of the miner pools from having multiple chains? PC: Simply put, adding forks increases the opportunity for miners and blobbers, without diluting the size of the miner pool. They will be able to participate in mainnet as well as forks where appropriate and receive ZCN in either cases. SB: The self-forking aspect of our architecture allows us to grow infinitely, and we expect the miner/sharder/blobber pool and their infrastructure to grow linearly with demand. The 2018/2019 roadmap seems to indicate that all hands are on deck to put the mainnet live. At that time, a token swap will happen once 0chain is no longer using ERC20 tokens. How are the mainnet development efforts progressing? What are the main challenges and focus areas for 0chain to achieve its goals in putting the mainnet live? SB: We are very close to launching mainnet and our main focus is now implementing the storage protocol, miner protocol, and token economics. We have had very good performance on our core blockchain with billions of transactions completed in our test-net. We have an early version of the storage protocol implemented and have been showing it privately. Before our mainnet goes live, we will do a token swap from ERC-20 to native 0chain tokens. If widespread/mainstream adoption of blockchain is the goal, what do you see are the important next steps to achieve this within businesses and other enterprises? PC: Blockchain by itself as a transactional system has some interesting 1.0 use cases in supply chain tracking, collapsing financial processes, and a few others. When storage of small data sets (i.e. IoT) can be accomplished on chain or storage of petabytes of data via chain is understood by enterprises, there will be a host of new and more widely adoptable use cases. Decentralized storage via blockchain provides an immutable record of all data stored, allows tracking of all reads/writes, permissioned access, and CDN like performance based on multiple parallel paths for data to traverse. Decentralized storage and cloud are bound to revolutionize the business environment but we will have to show enterprise customers, pilot and then publicize the results to see wide adoption. Having partnerships with trusted cloud providers adds credibility to our solution, lowers the barrier to entry with conservative enterprises while not sacrificing the decentralized and immutable attributes of blockchain. Thanks, Saswata, Phil and Derick, for your insights and good luck with the launch!    The post 0chain Team Talks AWS Partnership and Decentralized Enterprise Blockchains appeared first on CoinCentral.
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Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance

Bitcoin bulls have turned out to be more relentless than the most have predicted from its historic prices. However, the fundamentals around Bitcoin [BTC] seem to be stronger than ever with the Bitcoin virus apparently spreading to the east now. Mati Greenspan, the senior market analyst at eToro tweeted, “BTC on the move again… Asian market certainly doing their bit today.” This is coming after a huge pullback on 17th May 2019. A Bullish Marubuzo with was seen in the 0: 00-4: 00 Hours UTC on 19th May as the market broke above $8000 again. This the second time the market has attempted to break it after a huge correction. BTC/USD 1-Day Chart on Bitstamp (TradingView) The other four performing coins Opening Price: $6968 Closing Price: $8109 The weekly gains: 11% Weekly High/Low: $8390/$6178 Binance [BNB] Coin Binance [BNB] coin was trading in the red in the last week’s update trading around $20. Nevertheless, the token started picking up value again as normal operations began at Binance Exchange after the hack. This week Binance also initiated the process of burning token from the Ethereum blockchain to process them on the native Binance Blockchain. BNB/USD 1-Day Chart on TradingView Opening Price: $20 Closing Price: $29.5 The weekly gains: 40.6% Weekly High/Low: $32.2/$19.9 Stellar [XLM] Stellar’s rise was higher than most coins during the week as it held gained 35% on a weekly scale. The Stellar validators were reportedly shut down for two hours on 15th May 2019. As Bitcoin continued to correct and rise, Stellar held it gains above 0.00001750 BTC. XLM/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $0.10 Closing Price: $0.14 The weekly gains: 46% Weekly High/Low: $0.16/$0.117 Ethereum [ETH] Ethereum has been the top performer in leading altcoin gains in terms of total market capitalization. The total market capitalization of Ethereum is above $25 billion. It still accounts for more than 10% of the total capitalization of cryptocurrency markets. Also Read: Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run ETH/USD 1-Day Chat on Coinbase (TradingView) Opening Price: $188 Closing Price: $259 The weekly gains: 38% Weekly High/Low: $281/$185 Tezos [XTZ] Tezos [XTZ] has been one of the best performing coins of the year. It has gained more than 100% before the bull run on Bitcoin began. The gain was influenced by the Coinbase allowing Tezos [XTZ] as the first coin which could be staked/forged on the Coinbase Custody platform. It was on the rise again this week as the market seems to have broken bullish since the beginning of the month. It broke above $1.75 as it set sights on to $2. XTZ/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $1 Closing Price: $194 The weekly gains: 25.4% Weekly High/Low: $207/$157   XRP, Dash, IOTA, and Cosmos [ATOM] The almost all altcoins were in the green on a weekly scale. While the above-mentioned cryptocurrencies rose higher than the rest, XRP, Dash, IOTA, and Cosmo [ATOM] also registered more than 20% gains. The gain in XRP was considerable as it broke above the $18 billion market capitalization. Moreover, the weekly rise is about 25%. The dominance of XRP over cryptocurrency market is about 7%. The rise of Dash, IOTA, and ATOM is 21%, 31% and 23$ respectively on a weekly scale. XRP/USD 1-Day Chart on Bitstamp (TradingView) *The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation. **The data is taken at around 11: 00 Hours UTC on 19th May 2019.  The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance appeared first on Coingape.
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