The concept of a Blockchain-as-a-Service (BaaS) 3.0 platform suggests the best of both worlds – a centralised system of decentralised technology – and that is exactly what YAO Network strives to provide. Launched on 7 May 2019, the innovative platform garnered attention from the media as one of the few to launch a new generation of public infrastructure platform that will function as an ecosystem entry, a computation hub and a service market for blockchain communities.
Despite recent developments in the BaaS sector, BaaS remains far from maturity. Having cycled through two “versions”, many are hoping the increase in demand would spur BaaS to scale up as a sector in order to meet the growing need for a network of blockchain communities. The future platform, BaaS 3.0, should rightfully introduce new technical frameworks with outstanding features for both enterprises and individuals, providing a thriving ecosystem with diversified content for online and offline technology communities. While many platforms are still in the midst of grappling with the transition, YAO Network has been quick to respond to the call and has developed its own blockchain platform to make BaaS 3.0 a reality.
YAO Network aims to be an entry point into the blockchain world, through which developers can access to mainstream blockchain networks and view relevant and updated information for their blockchain projects. YAO Network aims to provide supportive access tools and a great technological interface to facilitate the development of commercial applications, such as the building of an on-demand blockchain network for consortium and private blockchains.
Here is a simple illustration to demonstrate what YAO Network embodies in the larger framework.
To make BaaS 3.0 possible and form a robust ecosystem that integrates commercial application, the tech community and application developers, the YAO Network has designed its platform to serve the following functionalities:
1. Entry Point
YAO Network aims to be an entry point into the blockchain world, through which developers can access to mainstream blockchain networks and view relevant and updated information for their blockchain projects. The YAO Network aims to provide supportive access tools and a great technological interface to facilitate the development of commercial applications, such as the building of an on-demand blockchain network for consortium and private blockchains.
As an entry builder, YAO Network aims to become a blockchain hub that connects developers with existing blockchains or new blockchain networks on-demand to facilitate the blockchain community. To do so, the YAO Network has included many features in its system including distributed identity, off-chain orales, incident feedback mechanism etc. to improve the interoperability and scalability of the blockchain network.
YAO Network provides an open Cloud Service Market for service providers to create their cloud services and sell them to terminal users under a visualized operation interface. Such services can be basic services such as access to a blockchain’s underlying framework or advanced services such as function modules and application service components etc.
YAO Network differs from traditional BaaS platforms in that it, unlike the rest, is a self-driven ecosystem. YAO, the value-carrier of the YAO Network ecosystem, encourages users to constantly generate technological services and content on the hub, thereby ensuring healthy growth and development of the whole ecosystem. Ideally, it is expected that the community will take over the reins from the YAO Network team and become the main contributor to the development of the YAO Network platform.
Like time, technology waits for no man. Blockchain technology has already been gaining rapid traction around the globe and it is only a matter of time before the fourth industrial revolution hits, and with it, the mainstreaming of BaaS platforms like the YAO Network. It’s time to join the BaaS 3.0 revolution!
SOURCE YAO Network
Penta Security and R3 Announce Strategic Partnership for Digital Asset Management and MPC Technology
Penta Security and blockchain software firm R3 today announced that they have entered into a global strategic partnership for digital asset management and MPC (Multi-Party Computation) technology, combining Penta Security’s technologies and R3’s extensive enterprise blockchain platform, Corda.
With technology and services playing a critical role in digital asset payment and management aspects, the demand for a safer digital asset and private key management solution is dramatically increasing. The partnership brings together deep skills in MPC, blockchain key management solutions, technology development, and deployment in the finance sector via R3’s enterprise blockchain platform Corda.
As a result, Penta Security is devoted to expanding in the finance industry with its MPC technology which is based on the secret-sharing algorithm, and PALLET, an advanced key management solution for blockchain. Both parties will be heading to achieve goals through various new projects by forming a software enterprise firm, in addition to deploying Penta Security’s MPC technology on R3’s major projects.
Dr. Sim, Chief Technology Officer at Penta Security, said: “There’s no doubt that the private key to successful blockchain deployment is the most important asset. We believe Penta Security’s MPC and digital asset management technology can provide an ideal key protection solution for both blockchain and digital asset key protection. By diversifying our offerings through strategic partnerships, we’re excited to be devoting our expertise in the evolving blockchain scene.”
Cathy Minter, Chief Revenue Officer at R3, said: “The creation of a new market, powered by digital assets, is one of the most exciting promises of blockchain technology. Coupling our Corda platform with Penta Security’s MPC technology will be one step closer to addressing the industry demand for secure digital asset management. We are proud to be partnering with Penta Security to deliver an industry-leading solution and look forward to them achieving continued success in the future.”
SOURCE Penta Security Systems
FiO Fixes Wine, Gaming and Fitness Industry Pain Points
Innovative SaaS platform FiO is expected to release details on how its blockchain-onboarding service solves long-existing problems in wine provenance, online gaming and fitness tracking next week.
FiO merges the latest blockchain technology and GPG encryption with existing ledger software to create easy-to-use decentralized solutions for conventional businesses.
The company’s FiO software boasts a conventional form factor and simple templates to create a painless experience for non-technical users. Only 3 simple onboarding steps are required: user registration, service selection and finally, a connection to their API.
FiO’s “plug & play” technology aims to fix inherent issues that have long plagued traditional industries. For example, with counterfeit wines a multi-billion dollar problem, FiO enables a reliable and immutable traceability platform for wine products as they make their way from the vineyard to the consumer.
Through FiO’s simple blockchain tool, users can create a robust decentralized ledger and shareable digital certification pertaining to a wine’s appellation, winemaker, vintage year and shipping and storage. This enhanced ability to record the production, obtaining and selling of wine should foster greater trust between producers, distributors, resellers and collectors.
In recent years the fitness industry has seen a boom in wearable, biometric devices that track the end-user’s fitness regime and health vitals. FiO allows fitness gyms to integrate AI-enhanced features without compromising customer privacy. Gym users can consolidate their health and fitness training data from wearables, equipment and even medical service providers in one location, import token economy items and connect with social fitness influencers and networks.
The gaming industry, currently worth $150 billion per year, is predicted to double in value by 2022, with an increasing demand for B2B game development solutions that build and manage in-game item economies.
Until now, players could only trade and sell their virtual items directly or on third-party websites, with little protection against fraud, hacking and theft.
With FiO, game developers can now facilitate the easy and secure transfer of in-game items and rewards between players through their existing wallets. This increased functionality and fungibility of gaming rewards through blockchain will likely attract new players to the industry.
FiO made it clear that its platform is highly flexible and its benefits can be applied to nearly any conventional businesses. The company, currently in its final fundraising round, welcomes interested parties to get in touch.
Crypto Earn: Now Earn 8% p.a. on EOS Deposits
Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has added EOS to Crypto Earn, allowing users to enjoy up to 8% p.a. on their deposits.
In addition to having EOS available in Crypto Earn, deposit and withdrawal of EOS is also enabled on the Crypto.com App.
EOS.IO is a free, open-source blockchain software protocol that provides developers and entrepreneurs with a platform on which to build, deploy and run high-performing blockchain applications. It is currently supporting over 260 projects.
Crypto Earn now supports 16 coins including BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, DAI, PAXG with the addition of EOS. Interest is paid out weekly in the coin deposited with flexible, 1-month or 3-month terms available. Users earn more by staking at least 500 MCO.
Note: For the U.S. users, both deposit and withdrawal of EOS and Crypto Earn deposit in EOS are initially available in 38 states: Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, and Wyoming.
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