OFFICIAL BEZANT PROGRESS REPORT Q1

Hello from Bezant Team!

The first quarter of this year has finally come to an end and as we embrace the change of seasons, we are thrilled to share with the community many good news and achievements. It has been challenging but equally rewarding as we announce the launch of our Bezantium platform.

Let’s get straight into the sharing of our major achievements in Q1.

Bezant’s vision is to provide a platform that allows enterprises and service partners the ability to seamlessly integrate their services to blockchain without having to worry about the infrastructure. We’ve focused on that key vision and after months of late nights, discussions and development, we have finally launched our mainnet, Bezantium. Bezantium will be open to our partners on April 11th. Public access to our Wallet and Scan services will be open on April 25th.

One of the jewels of our platform is the interface that partners will use to integrate their services to our blockchain. This interface empowers partners to create a network and deploy their services without having an extensive knowledge of blockchain technology.

Partners can join the Bezant channel or create a private channel based on their business needs in a matter of minutes; they can also configure their network and the best part is that there is no coding in this process. After they have set up their network, they can start integrating their services using our REST API and SDK.

We found that many enterprises who want to implement blockchain with their services often are led to an impasse when it comes to creating their business logic through smart contracts. In order to integrate to the blockchain, they would need to hire a blockchain expert or undergo a steep learning curve to understand a specific blockchain coding language. Bezantium offers Chaincode(Smart Contracts) in three major coding languages: Java, Go lang, and Node JS, which are common coding languages used when building a web service. Apart from providing multiple coding languages, Bezantium aims to offer partners various Chaincode templates for various industry use cases. Partners can select a particular Chaincode that fit their business requirements; they are not required to code the Chaincodes from scratch. All they would need to do is change the parameters that fit their business requirements and deploy it through the partner admin tool.

As part of planning the architecture for Bezantium, we wanted to remove the barriers to deploying a token economy. Normally, it would take some time to develop a Chaincode(smart contract) from scratch and very likely you would require a blockchain developer to do it. However, with our Partner Admin interface, Partners can create a token economy with only a few clicks. We want Blockchain made simple for our Partners.

For any transactions that are made in the blockchain, it must be signed with a wallet. Usually, you’ll need to use a third party app to do it for you, but in our Partner Admin page, we allow our partners to manage their wallet, send tokens, and sign transactions onto the blockchain easily.

Part of the exciting news that we want to share with the community is with regards to scalability. As many will know, we’ve utilized the Hyperledger Fabric as our base framework because it’s already a proven system and used across various industries all around the world.

The unique architecture of the Hyperledger Fabric allows for increased scalability. We understand that under various circumstances that the speed in which transactions are processed can differ. We’ve done a series of performance tests, and under specific conditions, we’ve achieved a max tps(transactions per second) of over 4000+. Although the performance peaked under specific and unique conditions, we’re aiming to optimize the platform so that there is a minimal performance at above 1000+ TPS.

A detailed report on the performance test will be published later.

Bezant has always been striving to build an ecosystem that will foster the growth of a real use case blockchain application. We have two initial partners that are ready to open their services using Bezantium.

  1. Chequer — Chequer is a software development company that distributes Korea’s most widely used SQL DB management tool, SQL Gate, in order to create a blockchain based database management service. Chequer and Bezant will work together on recording data for logins, edits, inquiries, transfers, etc. on the blockchain for transparent internal audits and hence improve data security.
  2. Lineup — Content-based Blockchain SNS. Basically, user activity such as logging in or posting will be stored on blockchain as a transaction. Also, users will get reward mileages from the LINEUP platform and the mileage can be exchanged for BZNT through Bezant wallet which can be created on LINEUP platform.

With these two partners in database management and social media, we are assembling the pieces together in bringing widespread adoption of Bezantium. For more information on what these services do, please feel free to check out their website.

http://line-up.me/
http://www.chequer.io/

We are currently in talks with the rest of our partners, to finalize the best timeframe and their technical feasibility to launch a full-scale service on our blockchain.

We’re at the cusp of what we envision as our goal. We’ll constantly be adding new features and enhance the stability and security of the network. To share some of our to-do lists for BaaS:

  1. Stable coin support
  2. Additional SDK support
  3. Release of additional Chaincode Templates (Java, Golang, and Node JS)
  4. BRC-721, used as a token for digital collectibles
  5. Enhanced UI/UX for wallet, scan, and partner admin page
  6. Governance and Consortium Model

We will update the community for more updates on our development along the way.

We are also planning to reach out to the development community for collaboration in contributing to developing more Chaincode templates and increasing our Chaincode library.

We are currently working with our exchange partners to provide better payment experience for users. However, as this also involves compliance with many government regulations as well as the involvement of fiat currency, it is taking up more time that initially expected. We will use our best effort to keep the community updated when we have more information from the payment team. To add on, most of our resources had been allocated to ensure the delivery of quality and reliable blockchain protocol during the Q1 2019.

Happy Money — Bezant has partnered with Happy Money, Korea’s first all-in-one on & offline gift voucher service provider and we’ve entered into an agreement to expand and launch a global payment infrastructure backed by blockchain technology by utilizing Bezant’s technology — BaaS, Bezantium as a platform for coin issuance, user wallets, and scanning service development — with their know-hows of their settlement in the payment industry.

Line up — Bezant has partnered with ‘LINEUP’, the blockchain-based image SNS platform provider. Together with Bezant, LINEUP will set up not only its mileage system but also provide a hybrid SNS service of Web which allows both content creators and consumers to watch the artworks by either obtaining or paying mileage for the activities.

Chequer — Bezant has partnered with Chequer, a software development company that distributes Korea’s most widely used SQL DB management tool, SQL Gate, in order to create a blockchain based database management service. Chequer and Bezant will work together on recording data for logins, edits, inquiries, transfers, etc. on the blockchain for transparent internal audits and hence improve data security.

Atomic Wallet — We are so happy to announce that Atomic Wallet began supporting Bezant Token (BZNT) which will elevate our progress in making this ecosystem based on BaaS. We hope to achieve better accessibility for users to BZNT tokens through Atomic Wallet and we ask for your continued interest as Bezant will strive to develop and make a robust dApp ecosystem.

Bitholic — We officially announced that BZNT Token has been listed on Bitholic Exchange. Bitholic Exchange is a Singapore-based global exchange which aims to provide services to where the cryptocurrency market is emerging rapidly such as Indonesia, Vietnam, India, and the Philippines, thereby contributing to securing liquidity in the Southeast Asian market that Bezant is targeting at.

Testnet and Partner Admin Release — We were so excited to unveil our Partner Admin Testnet. The testnet allowed partners to do multiple functions such as creating wallet, issuing token, transferring token, Chaincode management (deploy/ invoke/ query Chaincode — *Chaincode is the smart contract feature on Bezantium).

Interview of Chan Joon, CEO of Bezant — We had the chance for our CEO, Chan Joon to be featured in multiple interviews and media exposure in Korea. He explained about the future of Bezant and what kind of ecosystem Bezant aims to build.

The links to the interviews are below

https://www.youtube.com/watch?v=ELZWdkKqIok
https://www.youtube.com/watch?v=hMlsJQGsNDA&t=20s

Office Tour Video(Bezant) — With the help of d-street, we will able to show the community glimpses of our offices located around the world and what goes on behind the scenes. Please check out the link below.

https://www.youtube.com/watch?v=guogjBgzlbI

BZNT End User Testnet Bounty Program — With the community members’ unfailing support and immense attention, we had finished successfully our Bezant testnet bounty campaign over two times — total 360,000 BZNT were all exhausted. We look forward to our community’s continuous participation and interest in our new practical and simple BaaS service — Bezantium.

Hong Kong Blockchain Week Bezant team had a unique opportunity to attend Blockchain Week in Hong Kong. We had the unique opportunity to meet up with several projects that expressed their interest in testing with us.

Hyperledger Bootcamp Hong Kong —Bezant team attended a Hyperledger bootcamp in Hong Kong where different Hyperledger developers from all over the world met and started contributing their programming talents to the Hyperledger project. As members of this umbrella project, our de had a unique opportunity to meet other Hyperledger projects and share how we could help with growing this community.

Hyperledger Meetup Seoul — Bezant team attended the Hyperledger Meetup in Seoul to share and network with other Hyperledger communities in South Korea. Hyperledger’s VP of Asia Pacific; Julian Gordan and Director of Ecosystem; Marta Piekarska were the main speakers, showcasing how institutions can utilize Hyperledger’s latest system features to build various dApps and sharpen their businesses. Our business team had some great networking opportunities with major Hyperledger based projects in Korea to share our vision and to explore ways for future collaborations.

GDC 2019 — The Game Developers Conference (GDC) is the world’s largest professional game industry event that takes place in San Francisco for 5 days. GDC brings together 28,000 attendees to exchange ideas and shape the future of the industry. Bezant team also attended the conference to explore our new partners and understand the game industry in order to integrate Bezantium in the near future. Especially for this year at the site, they showcased the integration and adoption of blockchain into any type of software using the popular programming languages they are already accustomed to. This event allowed our team to witness how fast and actively, the game industry has been adopting blockchain technology and what role Bezant should play in this time of paradigm shift.

Deconomy — Bezant had attended Deconomy Seoul 2019 from April 4–5th as a Gold Sponsor and had a great opportunity to officially present Bezantium to the public on stage by our foundation director, Steve Tay. Deconomy is one of the world’s major blockchain events where global industry leaders and influencers gather from all around the world to discuss and present the latest topics regarding the challenges and the market trends of cryptocurrency, blockchain technology, economics…etc. Foundation Director, Steve Tay, was invited as one of the speakers during this event where he announced the launch of our mainnet, Bezantium and premiered the main features of Bezantium for the first time ever.

Follow our official channels for the latest updates

Regards,

The Bezant Team