The Grid Foundation releases centralized Blockchain hub
The Grid Foundation, a project by software development company Hoopox, has created a new cloud operating system designed to work as a hub for all Blockchains, laying a foundation for the creation of new types of cross-chain enterprise applications.
The Grid is billed as a modular, business-ready Blockchain-powered solution. In much the same way that IBM’s cryptocurrency ethereum builds on the merits of the bitcoin Blockchain, the Grid Foundation seeks to develop an interoperable Blockchain based operating system (OS) that scales to meet marketplace needs.
“It’s just a matter of time before Blockchain hits mainstream adoption,” said Nick Chandi, CEO and co-founder of PayPie, a company preparing to launch a decentralized accounting platform along with a platform-exclusive cryptocurrency. “Its multiple benefits for the financial, compliance, regulatory industries and for society overall are too vast to be left ignored. Entrepreneurs will lead the way for democratizing this technology and the demand for Blockchain-related hubs, startups, talent, and services will grow exponentially to follow the trend.”
Grid Foundation reports that it has in place capabilities to speed up transaction throughput. As opposed to regular block chains that run every smart contract through, Grid employs side chains to hold only one smart contract at a time so the system runs faster. Grid also uses a process called dynamic indexing to facilitate interaction between the main chain and side chains.
The Grid Foundation has been backed by a reported $5 million in funding. Its Blockchain operating system is built upon the tenets of interoperability, slim deployment, and high transaction throughput. For more information, click here.