Hello Volare fans!
Last time, we’ve introduced you to Volare Network and its underlying blockchain engine, Equilibrium. This time, we’d like to give you a brief overview of Volare Network.
Introduction
The Volare Network pointed out that other blockchains currently exist on the market are inadequate as fully commercialized blockchains. These blockchain networks suffer from significantly low transaction speed when compared to traditional server-client methods as well as low scalability. For users who are already accustomed to high speed of traditional network systems, the slow speed of these blockchain networks will not suffice to the users’ needs. In addition, the low scalability due to its structural limits also poses a big problem. The transaction loads on a particular service will trickled down to all other services within the network, resulting in poor user utility and hence a critical problem to the operator.
Volare Network is the first optimized commercial blockchain network that successfully solved these two main problems.
EQBR Holdings
Now we would like to briefly introduce some of the businesses of EQBR Holdings, the company behind Equilibrium.
If you go to the EQBR Holdings homepage, you will see that several services have been developed. EQBR Holdings has developed multi-directional services to demonstrate successful commercialization of blockchain technology at the forefront.
Services
- Whisper MSG
Whisper is a service born out of recognition of seriousness of the problem that personal identification information and privacy are not sufficiently protected online. To solve the problem, Whisper MSG takes an advantage of Equilibrium engine’s fast processing speed to instantly relay messages to users. In addition, end-to-end encryption enables a secure messenger in the form of a complete P2P. Whisper MSG intuitively demonstrates that it could well overcome shortcomings of blockchain technology, where slow speed has been a major problem, and strongly appeals its potential as a viable commercial technology.
2. SLUSH
Slush is a wallet service that helps you manage virtual assets in a blockchain-based wallet. Other existing wallets were meant to manage virtual assets, allowing to effectively manage virtual assets spread in various networks in an All-in-one Wallet Solution. Basically, wallets provide money transfer function but are not able to provide other value services due to its limitations from slow speed and lack of smart contract features. Slush takes an advantage of Equilibrium to provide various escrow functions, making it easier for users to enjoy a variety of trading methods.
3. EQBR DEX
EQBR DEX is an exchange developed to allow trading virtual assets in a decentralized environment. Centralized exchanges manage users’ assets on a central server, making them vulnerable to various security issues. On the other hand, decentralized exchanges allow users to manage their own assets for better security.
4. MyFlex
MyFlex is an NFT marketplace built on Equilibrium engine, where you can trade NFTs that are highly sought in the market. Developed on the Equilibrium platform, it is characterized with high speed and scalability, providing a similar speed to a traditional server-client based marketplace. These advantages are the reasons for our anticipation of NFT market boom in the near future. This is also an ideal demonstration of blockchain technology concept in that it supports transactions between users in a P2P manner.
Tools
This time, we’re going to introduce you to some of the tools that EQBR Holdings has developed in-house.
- EQBR Block Explorer
This web page shows the books of networks operating on Equilibrium. As a publicly distributed ledger that derives from the blockchain concept, the Block Explorer serves as a very important criterion in the marketplace. Think of Block Explorer as an equivalent of Ethereum’s EtherScan. Block Explorer has been developed to easily retrieve information about transactions and blocks that occur within the network. Furthermore, unlike other traditional Block Explorers, it provides search functions by each user, block, and transaction to easily check and verify transactions to enhance user convenience for developers and ordinary users alike.
2. EQBR Gateway
EQBR Gateway is a solution developed for data communication between networks. The Gateway solution plays a very important role in Equilibrium-based networks that are organized in the form of microchains. It enables the exchange of assets between networks consisting of different nodes. For example, widely used virtual assets such as Bitcoin and Ethereum can also be imported into the internal network through the Gateway solution. Asset transactions hampered by slow speed of existing networks can now be swiftly and conveniently utilized.
Project
We would like to introduce you to some of the projects we have worked on with several partners of EQBR Holdings.
- APNDA Partners
APNDA Partners is a marketplace where you can trade asset securities with underlying large physical assets in a P2P form. The digital trading platform has been co-developed in a partnership with financial and investment experts from Aegis Asset Management and Shinhan Financial Investment, two of the leading financial groups in Korea. Within the platform, massively multiple users will buy and sell revenue securities in the form of tokens, which also signifies the actual movement of revenue securities between users. The platform will provide users with a medium-risk investment market, which will help mitigate the risks of high-risk investments.
2. ETRI
Currently, EQBR Holdings is participating in a multi-year research project, dubbed “Technology for Decentralized Consensus Composition for Large Nodes” heralded by the Ministry of Science, Technology and Information and Communication. EQBR is conjoined in the research effort with prominent research partners that include the Korea Institute of Electronics and Communications, KAIST, and GIST.
3. Minthing
MinThing is an NFT project summoned by KT Storywiz.
Uniquely, a marketplace for NFT has been created with unique elements of popular webtoons. Webtoon writers will register NFT’s of a single cut from their webtoon, a part of the drawing process, and any other items related to the creation of the webtoon. We have formed the market based on an acquired large pool of writers, currently in Open Beta service since its first release. If you have time, you might want to give it a try.
4. KMAX
BMAE is a blockchain-based Maritime Asset Digital Exchange. Various assets related to shipbuilding and ocean infrastructure will be securitized into digital assets to be traded on a blockchain-based exchange platform. The exchange is expected to be launched for service in 2022, which aims to contribute to the growth of the maritime industry with blockchain technology.
5. GPEX
GPEX is a blockchain-based reward point exchange that allows you to trade various reward points. It was released in the fourth quarter of 2021 and is currently in active use. Various points held by each user can be freely exchanged with other users.
We have outlined some of the businesses of EQBR Holdings.
Equilibrium
Equilibrium describes how to solve the problems of slow transaction speed and low scalability. Equilibrium does not use the consensus method of PoW commonly used in the existing generation of blockchains. EQBR Holdings’ own consensus algorithm, Equalize, is designed based on PBFT. These changes in the consensus algorithm and further optimizations have resulted in high performance.
In addition, the architectural changes have eliminated the problem of low scalability. Recognizing that existing blockchains have shown similarities to monolithic architectures and their problems, EQBR Holdings has applied the micro services architecture concept to the blockchain, which has led to the creation of the Micro-Chain form of Equilibrium. We have introduced the advantages of Equilibrium very briefly in this edition. More details will be covered in the next edition.
Volare Ecosystem
Through its various services, Volare Network has created a healthy and evolving ecosystem in which virtual assets within the network can continue to increase in value.
API Supporters services have allowed service operators and developers to easily access Smart Contracts and facilitate active participation in the ecosystem. In addition, good quality services continue to fill the ecosystem in abundance, providing ample opportunities to increase the use value of each token through positively-reinforcing competition.
The DEX provided by Volare Network has enhanced the Exchange Value of virtual assets in the ecosystem. In addition to many known benefits of decentralized exchanges, virtual assets traded on DEX provide liquidity pools within the network, and in an effort to provide better services by operators, the exchange value is assigned to each token. Additionally, Volare Network DEX allows the exchange of virtual assets from an external network, which further enhances Volare’s Exchange Value and creates a progressive ecosystem.
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