CYPHERIUM: FIVE MAJOR INNOVATIONS
Cypherium is positioned to disrupt a number of aspects of the blockchain space. We are striving to achieve the milestones that our industry's predecessors have failed to accomplish. While first and second-generation blockchain projects such as Bitcoin and Ethereum have opened pandora’s box, they have created more questions than answers. These layer 1 protocols are forced to operate in a localized sandbox, they interact with neither real-world data nor the existing legacy infrastructure our current financial system is built on. Cypherium understands this dire problem and has learned from Bitcoin, Ethereum, Hyperledger and uses these insights to develop a blockchain protocol that creates true financial interoperability. Cypherium is the evolution of decentralized finance, we are creating a gateway not just for any singular digital asset, but for all digital assets. Our interoperability protocol will be the catalyst for this new generation of blockchain technology, whereby innovative assets like CBDCs, existing digital assets, as well as-yet-to-be tokenized legacy assets like real-estate, securities, and equities can be easily exchanged across one decentralized ecosystem.
This perseverance towards innovation and growth is the reason why we have spent 3+ years developing our protocol. As we gear up for our main net launch, we’d like to highlight some of our major innovations and explain how these core features of Cypherium will create true financial interoperability across both blockchain and financial markets.
- LEVERAGING THE LEGACY WEB: Cypherium smart contracts are written in Java, the world’s most popular computer programming language. Cypherium is compatible with Ethereum’s solidity, but by adopting Java as its programming language, the Cypherium network introduces the vast and vibrant Java community of developers and machines to the decentralized ecosystem. This is a big step for the crypto community, and a necessary one as the industry desperately seeks scalable adoption.
The runtime environment that executes our contract, the Cypherium Virtual Machine (CVM), furthers our scalable design. The CVM is based on the Dalvik architecture formerly used in Google’s Android operating systems. It is lightweight and operable in mobile systems, unlike the current standard smart contract virtual machine of Ethereum, which is more centralized, and so, slower. This architecture, along with fixed-point representation allows Cypherium smart contracts to run on devices as simple as chip-bearing cards.
Other primary innovations of the Cypherium Virtual Machine include faster data types and built-in safety checks. All Ethereum Virtual Machine data types are based on 256-bit words. Cypherium Virtual Machine supports native 64-bit integers, which are exponentially faster than the EVM. Cypherium also performs safety checks at the virtual machine level. So, vulnerabilities commonly found in EVM are detected by CVM.
- CYPHERIUM ENTERPRISE: As opposed to our public chain, Cypherium Enterprise private and consortium blockchain use as an enterprise solution for the immanent 2.0 era. One or several organizations can participate in this kind of blockchain, where permissions can augment pre-existing governance. Faster transactions, greater autonomy and efficiency in decision making, and stronger data confidentiality are some of the benefits our technology can bring to private organizations and industries.
- INDUSTRY INTEGRATION: We have demonstrated our tech through a use case with Randstad, one of the world’s largest HR providers. We have fostered partnerships with IC3, Google Cloud, IBM, AWS, Microsoft, OMFIF, US Faster Payments Council, and most recently, Chainlink. Recently, we also entered into an MoU with Suzhou City to help develop their municipal blockchain infrastructure. The Cypherium team has used these partnerships to help our technology develop into the real-world business solution we designed it to be. Few upcoming projects — projects that have not yet been released to the public — can boast partnerships of this high caliber. More exciting about us, we are the only blockchain project directly in touch with the world’s leading central banks on central bank digital currency (CBDC) interoperability. This past year, we had a historic panel discussion with the Bank of England, Swiss National Bank, Central Bank of Hungary, and ING. Even more recently, we were listed as a preferred startup at Société Générale’s Startup-flow. Société Générale is one of the largest banks in France, and our promotion on their platform underlines that our value to the CBDC and fintech space is founded in concrete, deliverable technology. Our target is the trillion-dollar CBDC market, which is 100x bigger than the existing crypto market combined.
- OUR NOVEL CONSENSUS: Cypherium’s dual-chain structure solves the so-called “blockchain trilemma” of speed, scalability, and security by decoupling the mining process into two events (minting new coins and verifying transactions), and in doing so, presenting a hybrid consensus method that joins together two separate consensus methods. Proof of Work we use for minting new coins, while a second chain governed conducts the instant verification of transactions, which employs a HotStuff-based Byzantine Fault Tolerance, the cutting-edge of distributed consensus technology. In this way, our public network achieves fully democratic governance while offering some of the fastest speeds and highest throughput of any available blockchain.
- THE DCIF AND OUR CBDCs COLLABORATIONS: As mentioned, Cypherium has become ingrained in a number of conversations among leading central banks throughout Europe and Asia. One of Cypherium’s most recent and most exciting new projects has been the development of our Digital Currency Interoperability Framework (DCIF). The Cypherium DCIF is a novel approach to the challenges facing the adoption of Central Bank Digital Currencies (CBDCs). Any attempt at digitizing public money will soon have to reconcile the many functionalities of national currencies not yet mandated by private-sector digital ledger technologies. A fully functional CBDC will have to interact with a wide range of private sector industries as well as other national economic systems, not to mention the germinating crypto industry. Cypherium’s Digital Currency Interoperability Framework enables these necessary connections.
While the idea of a blockchain protocol that is truly trustless, and accessible to anyone in the world is not a new idea, our approach to this problem is very new. Using our hybrid protocol, and allowing the larger Java community to join the Cypherium ecosystem will help accelerate the speed of interacting with the Cypherium ecosystem.
Cypherium is a decentralized smart contract platform for creating and connecting dApps, CBDCs (Central Bank Digital Currencies), Enterprise Applications, and Digital Assets. Cypherium is one of the first blockchain companies with tangible blockchain applications, use-cases, and partnerships with industry-leading enterprises and government institutions.