Blockchain Leaders Join Forces to Launch the Scalable Protocol Alliance to Accelerate Enterprise Adoption of Distributed Ledger Technologies
SAN FRANCISCO--(BUSINESS WIRE)--Jan 17, 2019--Leading blockchain protocols and application developers Constellation, COTI, ORBS, Wanchain, BXB Capital and Mido Play announced today the formation of the Scalable Protocol Alliance (SPA), a consortium of leading companies that are building next-generation Distributed Ledger Technologies (DLT) for business intelligence and real-world solutions. Relying on industry specialists, protocols and applications, SPA will focus on accelerating the adoption of DLT business applications and integrations across protocols.
“SPA will serve as a bridge towards real-world DLT implementation by conveying a message of stability, scalability, and accountability,” said Ben Jorgensen, CEO, Constellation. “We are using the technology to solve real-world problems, focusing on delivering enterprise-ready integrations across platforms capable of supporting consumer applications.”
DLT has emerged as a secure and scalable alternative to the current blockchain model, and part of the SPA mission is to raise awareness of the technology and address the skepticism that many have towards the blockchain and cryptocurrency industries.
“ Scalability, stability, and security are all needed for the real world application of distributed ledger technology,” commented COTI CEO Shahaf Bar-Geffen. “ COTI is pleased to be a part of the SPA alliance, which is working towards turning this mission into a reality to encourage the widespread adoption of crypto for everyday, mainstream use.”
Alongside this broader mission, the SPA consortium has set a number of specific goals in 2019: a cross network integration, a shared application build, and protocol measurement whitepaper. These deliverables will be worked on across a series of quarterly seminars and working groups, consisting of the technical and business leads of each project.
“In order to reach mass consumer and enterprise adoption of blockchain, groups like SPA must collaborate to find the best solutions for the industry’s greatest challenges, including scalability and interoperability,” said Jack Lu, Founder and CEO of Wanchain. “ Wanchain is excited to join forces with the other companies in SPA. We look forward to technical shared learning across teams, integration and co-development opportunities, and dev-focused events.”
“ Black Edge Capital recognizes that for crypto to be successful in the long term, scalability and interoperability are two major concerns that need to be addressed,” said Evan Hall, Founder of Black Edge Capital. “By joining the SPA, our primary goal is in the promotion of these objectives to the wider crypto community by collectively providing the necessary tools, resources and education that will help fuel mass adoption of crypto by the mainstream.”
For more information about SPA and its founding members, please visit scalableprotocols.com.
About Scalable Protocol Alliance (SPA)
The Scalable Protocol Alliance (SPA) is a consortium of leading blockchain companies that are building Distributed Ledger Technologies (DLT) for enterprise use and working to accelerate its adoption for business intelligence and real-world applications. SPA was founded by Constellation, COTI, and ORBS. For more information, visit scalableprotocols.com.
Constellation is a consumer and enterprise-grade distributed ledger technology that enables the world’s smart devices and machines to seamlessly interact and transact. The network aggregates the resources and bandwidth of internet connected devices, securing transactions and ensuring high throughput through a dynamically partitioned DAG (directed acyclic graph) architecture. Each interaction or transaction is verified through a unique consensus model. Transactions flow through the network allowing it to remain stable without every node having to individually verify before the next rounds of consensus is performed. This method incorporates a node’s historical participation into delegate selection, observation from local nodes, and rewards benevolent behavior. The Constellation network is underpinned by an incentivized community portal called ORION.
COTI is the world’s first blockchain protocol optimized for decentralized payments, designed for use by merchants, governments, decentralized payment networks, and stable coin issuers. COTI Pay, our first app, already boasts a network of 5,000 merchants and 80,000 users.
Most of today’s blockchain platforms are optimized for dApps and not for payments. They also don’t provide the infrastructure and the tools required for everyday transactional use. This in addition to possessing numerous challenges related to identity, trust, stability, scalability and high transaction costs, which deter the adoption of cryptocurrencies for mainstream use.
COTI utilizes a DAG (directed acyclic graph) ledger to address these shortcomings, providing extreme scalability to process tens of thousands of transactions per second, as well as price stability mechanisms and low costs. The beta version of the platform was already released.
Orbs is a public blockchain acting as the production layer to complement Ethereum. Adopting Orbs alongside Ethereum allows dApps to enjoy the best of both chains: unmatched security, liquidity and ecosystem integration, together with low-fees, production-ready scalability and a suitable fee structure. This combination of Ethereum + Orbs is the optimal solution for applications with millions of users looking to adopt blockchain, today.
Wanchain is a public blockchain platform that enables decentralized transfer of value between isolated blockchains. Wanchain currently enables cross-chain transactions between Ethereum, Bitcoin, and ERC20 tokens. Going forward, Wanchain seeks to connect virtually all blockchains, both public and private, in order to bridge the traditional world to the Web 3.0 economy. Wanchain has employees globally with offices in Beijing (China), Austin (USA), and London (UK).
About Black Edge Capital
Black Edge Capital is a leading blockchain fund, consultancy & service agency, active in the space since early 2017. Black Edge Capital helped raise over 120M USD for clients in 2017/18 and in 2019 is predominantly focused on developing and incubating the next wave of token offerings, in the form of IEO’s and STO’s.
About BXB Capital
BXB Capital is a global firm that blends finance and technology to grow and support technological evolution. We primarily focus on venture acceleration, and operating our fund. Each partner brings a unique entrepreneurial background that we leverage to accelerate the success of our clients in this highly competitive market. Our specialty areas include company scaling, product strategy and financial advisory for startups working in tech, blockchain technology, digital asset development and mining.
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CONTACT: SutherlandGold for Constellation
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