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Blockchain technology offers significant benefits to enterprise organizations, but certain limitations have undermined its widespread adoption. One reason, many observers agree, is that enterprise solutions require both speed and stability from technology, which many blockchains are unable to achieve in equal measure. Some blockchains are able to achieve a high transaction speed at what some would consider the expense of stability.
To become widely accepted, blockchains need flexible frameworks that do not sacrifice speed or flexibility, and at the same time provide identity and security. Developers must be able to create smart contracts and applications with ease and in a reasonable time frame.
A Visionary Steps Forward
Alex Xiong envisioned a blockchain that uses a delegated proof of work consensus that would be easier for developers to use than many existing blockchains, one that would have both a high transaction speed and stability.
Ernie Diaz and other stakeholders who shared Xiong’s vision conceived of the necessity and potential for a project that focused on unlocking blockchain value for businesses.
Under Xiong’s technical oversight, the Entu Foundation was established and began developing such a blockchain, BAC, in June of 2018. The mission is to create value for users, especially those looking to create value for their organizations using blockchain. BAC’s investors hail from Hong Kong and Singapore, the world’s up and coming financial centers.
The Entu Foundation Council, consisting of Xiong, Diaz and Sky Qiushuo, oversee BAC’s governance. The foundation has secured funding and the BAC mainnet will launch in the first quarter of 2019, heralding a new era for enterprise organizations.
Features Foster Ease Of Use
The BAC platform has features that developers will find easier to work with than other blockchain products.
One is the layered architecture. The customer-facing layer permits multiple access nodes, such as cloud service or a personal computer by means of all three major operating systems as opposed the status quo OS, Linux. The core BAC layer provides all main blockchain products via an API that enables fast deployment on the application layer.
BAC will permit any consensus protocol, such as traditional POW, DPoS, PoS and Byzantine fault tolerance. A group of sidechains provides secure blockchain development and testing.
BAC’s database structure will feature an IPFS type of file storage that will permit data to be cryptographically stored, unlike a traditional SQL database.
More Versatile Programming
Another key feature is the use of the buna programming language, which allows the creation of applications and smart contracts, a benefit not all programming languages can offer.
When the mainnet launches in the first quarter of 2019, BAC will establish a global development community and will partner with its business and financial network that will create Dapps that unlock the value of blockchain technology for global enterprises. BAC will accomplish this by leveraging its investor network to develop and deploy business focused DApps.
“As our locus of influence is in Singapore and Hong Kong, we look forward to supporting businesses that can benefit from the settlement and trust issues blockchain solves,” Diaz said. He noted that logistics, import/export, and non-profit organizations facilitating cross-border development are among the early partners we’re most looking forward to serving.
Businesses worldwide will be able to create major new value through cost savings, transparency, improved privacy, utility control and higher profit.