ANNOUNCEMENT 7 - Cryptonomex Begins Licensing BitShares 2.0 Technology To Partner ChainsThe industrial grade blockchain technology of BitShares 2.0 has put it in a class by itself, but that won’t last for long. Several new “Bitcoin 2.0” blockchains are expected to adopt the same great technology this fall, and the crypto world will never be the same.On June 8th, 2015 Cryptonomex shocked the crypto-currency world by introducing its third generation of blockchain technology code-named Graphene™. Graphene averages transaction confirmations in 1 second compared to what can take Bitcoin more than an hour. And with 100,000 transactions per second compared to Bitcoin’s current 7 tps, Graphene is able to support a host of new features, like a NASDAQ-class asset exchange, with enough throughput left over to upgrade Bitcoin and most of the 600+ other altcoins to a common interoperable cryptocurrency network. All this is old news at bitshares.org.
What’s new is that soon BitShares will not be the only blockchain showcasing Graphene technology.
In most cases, it makes more sense for digital asset developers to build directly on top of the BitShares blockchain to take advantage of interoperability, shared network effect, deeper markets, and common services like BanxShares and BunkerShares decided to do. It also costs money and time to market to bootstrap a new chain rather than one that already has a support infrastructure and a working ecosystem.
But there can be good reasons why some potential partners might need independent chains. Sometimes there’s a compelling philosophical incompatibility, or differences in business model, global parameters, rule set, governance system, privacy policy, dilution, fee structure or developer vision. Perhaps a different distribution is needed to capture support from essential partners, funding sources or other user demographics. And of course everyone has different perceptions of the risks and benefits of sharing a common block chain.
Bytemaster did a riff on this in today's weekly beyondbitcoin.org press conference.
For all these reasons, and a genuine desire to grow the industry, Cryptonomex tries to take a very open policy to licensing its technology everywhere we can without impacting our existing chains. (It certainly doesn’t want to stand in the way of its supporters getting share drops for great ideas that won’t fit on the BitShares blockchain for some reason.)
Our offer to provide access to Graphene technology
to compatible partners willing to share drop on the BitShares community
is a key value proposition of BitShares that should not be forgotten.
The first of these won’t be a big surprise to any active member of the BitShares community, but it is certainly worthy of a syndicated news release calling attention to our BitShares Graphene technology and encouraging other new and existing coins to consider what that technology might mean to them!
So, with a subtle foreshadowing more such deals to come, Cryptonomex and PeerTracks are announcing a renewed and much stronger partnership to jointly develop and promote BitShares and MUSE. Cryptonomex will support PeerTracks with innovative cryptoeconomics technology and PeerTracks will support Cryptonomex with fund raising and business development. This will let us share costs and provide increased development resources and public awareness for both projects.
MUSE easily qualified for a Graphene license for at least these reasons:
• It does not compete directly with BitShares.
• It share-dropped 70% on the BitShares community.
• It has good reasons for maintaining a separate chain.
• We have a long-standing agreement to support them.
This agreement is the result of a recent summit meeting where Eddie Corral spent two solid days brainstorming with us at Cryptonomex World Headquarters in Virginia. We liked the comprehensive joint plan we came up with so much, we just had to record it for historical purposes.
Topic: [ANN] Cryptonomex Begins Licensing BitShares 2.0 Technology To Partner Chains (Read 10827 times)
