The Product Protocol Blockchain
Added: (Wed Jun 26 2019)
Pressbox (Press Release) -
A new innovative platform was opened - Product Protocol project - an efficient tool for business tokenization, without the restrictions of territories, time zones and credit organizations.
The project is being developed by a team of professionals, including such people as Alexander Richards (Korea) and Jun Hao (founder and CEO of BlockConnectors.io, the leading blockchain consulting firm in Asia).
The platform provides an open business tokenization protocol with the advantage of being accessible to a wide range of crowdfunding/crowdlending company owners. With Product Protocol you can significantly reduce the development time, lower the risk and reduce the costs related to the development of blockchain solutions, or utilize a ready-made platform for products and services sale - a decentralized marketplace, which allows enterprises to solve relevant problems and profit from the application of blockchain technology today. Companies, that do not yet utilize blockchain, can begin using the decentralized distributed ledger, attract funding and enter new markets, without creating dedicated development departments, costly integrations, without worrying about the volatility of the crypto market and while avoiding 90% of problems related to the process of issuing your own token.
Advantages of using the Product Protocol blockchain platform:
Due to existence of confidential data within blockchain: internal documentation, accounting, developments, company clients personal information, - public solutions (e.g. Ethereum or EOS, transactions of which are in open access) are unacceptable. While the private ones, like Hyperledger, lack sufficient transparency of the stored data.
Within the Product Protocol architecture every company has its own private chain, while its hashes are stored in a single common public chain. This way the data remains private within respective companies, while being verifiable from the public chain.
Any centralized database can be hacked or changed, unlike a decentralized one. Hacking a single block within blockchain is pointless, since you have to hack all of them, which requires immense computing power (new blocks contain encrypted data about the previous ones), and any attempt at it will be immediately detected by other network participants. Another security tool is a powerful encryption algorithm that utilizes hash functions and digital signatures.
The entire database is publicly available. Letís say, one person transferred $2000 to another person - every single user can find out about this transaction. While who transferred what and to who is still confidential, unless the people involved wish to make it public.
In our everyday lives, we have to deal with middlemen all the time (financial transactions go through banks, currency exchanges, payment systems, while our documents have to be certified by notaries), therefore there is always a chance that our money wonít make it to their destination and our documents will be forged. Blockchain technology allows making transactions without these intermediaries. The authenticity of transactions is determined by their participants.
Transaction speed is the total time required by the systems to finish a transaction. If a system provides a fast transaction speed, client satisfaction and system accessibility will improve. An obvious shortcoming of the modern financial system is what pushed people into the cryptocurrency and blockchain world.
One of the main advantages of the Product Protocol Blockchain is its defining point of 30,000 international transactions per second with an average transaction processing delay of 3 seconds per 1000 repeats.
Many experts predict the Global Tokenization of Everything over the next ten years. Product Protocol is actively working on making this future reality in the leading economies of Asia. The project allows entrepreneurs to tokenize their assets and attract funding, allowing companies to scale like never before. The universal token for the tokenization of any kind of asset allows to instantly create digital assets, while the decentralized market allows people from around the world to buy them.
Everyone is welcome to join the project. All detailed information on the website -https://pprotocol.io/