ATLANTA, September 1, 2021 / PRNewswire / – Today, the highly anticipated Basic test network is live and now accessible to the public. ConsenSys mesh announced that he would join To bring, Unibright and other companies to support and use Baseledger in its projects to comply with Basic protocol, a new standard for integrating business systems. Businesses will welcome the next EthAtlanta event and hackathon on October 1-3 to help developers start using the network.
Baseledger, an open source project originally developed by Unibright and Provide, is the first public network designed to store and manage basic evidence, which are an essential part of the synchronization of Internet registration systems according to the base protocol. The high-performance, high-availability network provides verified system integration services at a very low cost, without the companies spending time or capital to set it up. Baseledger is basic protocol compliant to ensure that no data is moved from business registration systems to any type of blockchain, and evidence cannot be used by an observer to learn anything about the information. confidential, relationships or business activities of companies. The network is secure, always active, and anchored to the Ethereum blockchain using a cryptographic technique called ZK Rollups to prevent tampering with evidence.
Users storing evidence on the network benefit from a fixed transaction fee, denominated and paid in fiat currency. They don’t need to hold any form of cryptocurrency to pay for the service. Network governance and transaction settlement are powered by $ UBT, short for Universal Commercial Token, an Ethereum ERC20 token originally issued by Unibright in 2017. Since transaction fees remain stable even as the value of UBT increases, organizations can use Baseledger without worrying about price volatility.
The network is secure, always active, and anchored to the Ethereum blockchain.
“Provide contributes to the base protocol to set a new standard in enterprise synchronization. The release of the Baseledger test network and Provide software stack base bits now enables companies of all sizes and technology capabilities to adopt the standard and apply it to their own Baseledger adds additional security to the stack Provide to enable a new implementation of zk-zk rollup, which is essential for evolving enterprise DeFi and creating new ones. reference fintech products and services, ”said Kyle thomas, CEO of Provide.
Provide key open source components required for the integration of baseline compliant systems including Username, N chain, Privacy and To jump, to coincide with today’s launch of the Baseledger test network. This version, now available on GitHub, allows developers to quickly synchronize databases, ERP, CRM, accounting, compliance and other information management systems across any set of businesses. The testnet will operate for several months prior to the launch of the production network, which will be powered by $ UBT.
John Wolpert, ConsenSys Product Manager and Chairman of the Base Protocol Technical Steering Committee, said: “One of the most important things about open standards and open source is that they help prevent vendor blocking and reduce costs for businesses. But all projects like this require simple, affordable tools in order to achieve wide adoption. The Baseledger network and the Provide platform are the first to make the benefits of the referral base accessible to everyone. “
Marten Jung, CEO of Unibright, added, “With Baseledger, we provide the missing link for companies aiming for a productive deployment of the Base Protocol across a variety of enterprise-wide business cases, fueled by an incentive-based ecosystem. on $ UBT. Baseledger enables companies to overcome the restrictions of current public books in terms of transaction costs, performance, compliance, integration and coordination. “
Businesses are already starting to use the Basic Protocol to reduce fraud and litigation, ensure regulatory and tax compliance, synchronize accounts payable, and gain access to more favorable funding terms from traditional and DeFi sources.
Andrei Semonov, innovation director at Coke North America (CONA) said, “CONA has worked with Provide and Unibright over the past year on the base protocol. I am delighted to see progress on Baseledger and to be one of the first node operators on the testnet. “
ServiceNow, a leading cloud platform that helps businesses deliver digital workflows in business operations, has also worked with Provide over the past year. “I am confident that Provide technology is capable of supporting many ServiceNow use cases that require business process synchronization and baseline. This enables our customers to scale integrations across their corporate networks while effectively meeting corporate security requirements, ”said Nicola Attico, senior consultant at ServiceNow.
On To bring
Provide is a pioneer in next-generation sync technology and is currently aiming to become the standard for corporate regulation. Provide is a global leader in enterprise blockchain and works with Fortune 500 organizations to bring scalable zero-knowledge privacy to enterprise data sharing. Provide was founded by a serial entrepreneur and technologist Kyle thomas in 2017.
Unibright is a team of blockchain specialists, architects, developers and consultants with over 20 years of experience in business processes and integration. Unibright offers the Baseline-Blockchain Baseledger, consulting services with Unibright solutions, low code integration tools as part of Provide Framework, programmable DeFi with Unibright Freequity and the universal trade token $ UBT.
The founders of Unibright Marten Jung and Stefan Schmidt Review of more than 20 years of experience in software development, process integration and technology consulting. Unibright is the first to support business processes with blockchain technology, enabling new processes and improving existing ones in terms of efficiency, transparency and security.
Unibright’s team and network offer the best architects, blockchain developers, and integration specialists to build any blockchain application. Unibright is well positioned through partnerships with the best companies and resources in the industry.
About ConsenSys Mesh
Founded in 2015 by the co-founder of Ethereum Joseph lubin, ConsenSys Mesh is an accelerator, incubator, investor and enabler of blockchain technology solutions. Their mission is to champion the global adoption and awareness of revolutionary technologies in Web 3.0 and DeFi.
Mesh comprises a portfolio of over 130 positions of stocks and tokens, manages the startup accelerator Tachyon, operates an R&D team making a significant contribution to the Ethereum ecosystem and has successfully incubated companies such as Gitcoin, Decrypt , Treum, ConsenSys Software Inc., and more. This interconnected network is a place where the next generation of blockchain technology takes shape and great entrepreneurs flourish.
About Basic protocol
The Core Protocol is an open source initiative that combines advances in cryptography, messaging, and blockchain to provide low-cost secure and private business processes using the public backbone for event control, consistency data and workflow integrity. The protocol will allow confidential and complex collaboration between companies without moving any sensitive data from traditional registration systems. The work is governed by the EEA Community Projects, which leverages the strengths of the Enterprise Ethereum Alliance (EEA) and OASIS Open’s leadership role in open standards and open source.
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SOURCE Fournir Technologies Inc.