Blockchain and cryptocurrency was put on hold for a period due to stricter regulations placed on Initial Coin Offering by regulatory bodies. However, changes in Blockchain technology continued. Current digital currency projects that make use of trusted third parties were announced but they are not of best use case in blockchain technology.
Researchers around the world have the in tension of expanding technology to a broad range of applications. From onset, pioneers outlined Blockchains prospect as a digital payment network and a collective data sharing aperture or platform to sharpen the society.
Although Bitcoin, Ethereum and other assets has made an attempt to improve Blockchain and make it a multipurpose computing platform. Slow more centralized blockchain infrastructure have prevented the large scale adoption of distributed ledger technologies
With this identified inadequacies, Cypherium a highly proficient, scalable, decentralized and permissionless public Blockchain platform with an intuitive user interface and a hybrid consensus mechanism came to been. It creates a sophisticated foundation for developers to make groundbreaking apps capable of giving business, law and enterprises a new look. It utilizes both proof of work and Hotstuff Byzantine fault tolerance.The major work going on at cypherium is to solve the issue of scalability: processing more than one work at a time.
Cypherium technology differentiates mining and transaction data verification into two distinct Blockchain to allow efficiency.
Cypherium validates transactions with two-thirds nodes consensus before incorporating it to a blockchain. This help in avoiding fraudulent transactions and rogue mining An election chain uses Proof-of-Work leaders to write new blocks, while a transaction chain uses HotStuff consensus to verify the transaction data within those blocks. Cypherium is aimed at achieving commercialization by utilizing decentralization and scalability simultaneously.
Aims and Objectives of the Cypherium Network:
1) Codes called smart contracts that help verify and authorize transaction automatically. The smart contract runs on a cypherium Virtual machine that allows all participants secure access and use cases.
2) Cryptocurrencies and other digital platforms has the tendency of sabotaging private and confidential data. Cypherium is one of the most secure platforms in the industry due to its Secure vault that prevent privacy threats. It only accept and complete a transaction in blocks with enough proof-of-work. The only chance at forgery is by obtaining the user’s private keys.
3) A trusted database platform for secure transactions and connect isolated data islands around the world
4) Cypherium has use cases in numerous field such as Finance, voting, college placement, security of data, messaging and digital contracts.
5) An instant ledger to process real time transactions for billions of users
The above listed features, Goals and abilities of Cypherium network sets it forward as the Future of Blockchain technology. As against other currencies launched to the market in initial stages with glaring pitfalls, Cypherium is in a better position for success structured by experienced people in the technological world so they have designed a secure, fast, and reliable platform for digital transactions. The platform employs smart contracts for authentication and automation of deals, among other built-in systems for the best experience during usage.
CYPHERIUM FOR SECURE, ACCESSIBLE and FAST TRANSACTIONS.