Official Statement from Genaro Foundation on Future Development

The Genaro Network project was established in early 2016. The non-profit Genaro Ltd. foundation (the “Foundation”) was officially registered in Singapore in July 2017. Since its inception, the project has released a number of blockchain applications, such as the Genaro Eden storage network, Genaro Sharer storage sharing solution, Genaro Network Alpha One — a public chain integrated with the storage layer, Genaro Email privacy protection mail system (verifiable encrypted data interaction), and obtained patents in a wide range of core blockchain technology areas: consensus mechanism, cross-chain protocol, blockchain virtual machine, distributed storage and other blockchain-related spheres, and open-sourced these technologies for free use by practitioners.

Meanwhile, the Foundation’s strategy has always been adhering to the principle of internationalization from the very beginning. Our product users and community members are located in many places around the world, including Russia, Ukraine, South Korea, Japan and elsewhere. We express our deepest gratitude for your attention and continuous support.

In March 2019, the Genaro project implementation team successfully released its primary research and development products. Our work achievements far exceeded the initial project conception and went beyond the structure of the whitepaper and the technical yellow paper, and completed every scheduled milestone of our initial roadmap according to plan. At the same time, we also realize that the blockchain infrastructure still needs to be continuously improved, and there are still many shortcomings in the underlying technology, which requires more like-minded people to join their efforts and work together.

In order to make our accumulated open source technology more widely adopted and to achieve more decentralized development of the community, the majority of original project initiators, advisors and supporting team members, regardless their former titles, will continue to contribute to the foundation from various angles, including as evangelists, consultants, and other roles as needed. The core technology R&D team and product operation teams are already geographically diverse. Distributed collaborative teams in different parts of the world will continue to promote the development of the Genaro project and the development of the blockchain industry as a whole. The Foundation aims to create a good collaborative environment and mobilize global community members to actively participate and advance together.

After much hard work, the Foundation’s distributed office approach has proved its effectiveness and enabled the project to make gradual and steady progress. With the stable operation of the mainnet and the continuous improvement of various product features, the rapid development of blockchain in the Asia-Pacific region as well as growing interest in blockchain technology in different provinces and cities of China, we are staying committed to a challenging path, formulating new development strategy plans, and constantly deploying blockchain applications to actively promote the development of projects within the ecosystem.

Firstly, we will continue to strengthen the development of the mainnet, and continuously improve its functions and perform maintenance tests. The main points of upcoming work include:

1. GSIOP (Genaro Streaming IO Protocol) cross-chain protocol

GSIOP is the only storage-based cross-chain protocol that allows Genaro storage to be easily used by DApps that are built on other public chains. The first version of GSIOP was launched and open-sourced on February 20, 2019. In the future, the team will release an updated version of GSIOP, add new interfaces and handshake methods, and start cooperation with other public chains to create a so-called ultimate point-of-storage for major public chains.

2. Encrypted file sharing system based on blockchain technology

Genaro is designing and developing an encrypted file-sharing system with features such as encrypted file lookup, breakpoint retransmission, offline download and other features that can be found in traditional file systems, with no sacrifice to user data privacy, thus guaranteeing its protection.

3. X-pool

As a collection of Genaro’s PoS nodes, X-pool can help storage space sharers lower their thresholds and become more flexible, creating a totally new storage space sharing network.

4. The new release of X-Mail mailbox domain name system

A distributed, open, and scalable naming system based on the Genaro Network public chain. A private key can manage multiple address aliases, and can also be used for transfer transactions, file sharing, and sending emails through aliases. This made Genaro the first independent developer of this type of domain name system, providing the application potential for decentralized storage on a public blockchain. The first edition was released via official channels on January 15, 2019, and is available in G-Box v1.0.6. The current version will be updated in the near future and we encourage everyone to promote it among the community members and blockchain enthusiasts to gain more active users.

In addition, the Genaro ecosystem project involves many areas such as secure management of encrypted assets, privacy protection, data sharing, and so on. We strongly believe that public-chain-led exploration can continuously strengthen the development of underlying technologies and significantly benefit the whole blockchain infrastructure.

At the same time, we also hope that the accumulated blockchain technology can empower the real economy and contribute to the creation of the digital economy. Based on the research and development results we have achieved and the future technological development expectations, we will focus on the following three development directions:

1. A more versatile enterprise chain solution

The current Genaro Eden storage network architecture is based on the Genaro mainnet. After a series of tests via a global open network, it has been able to operate stably. In the future, we will provide a storage network that can be used in with enterprise or private blockchains, and build enterprise versions in collaboration with our enterprise partners. We also plan to use existing Genaro solutions to complete currently available versions of Quorum and Hyperledger.

2. Trusted Encrypted Data Calculation Tool

We plan to launch the development of a smart cryptographic computing tool, which will apply the homomorphic algorithm PoC of the previously encrypted data processing. This method allows applications to utilize data encrypted by homomorphic encryption. In the future, it will be used in conjunction with storage and provided to enterprise chains integrated with storage layer users. Genaro’s smart data products will help companies tap the value of big data to serve decision-makers.

3. Establishment of BaaS solution

Encapsulating Genaro’s storage solutions into a version that can be used by enterprise chains such as Quorum and Hyperledger, the project is designing an integrated BaaS (Blockchain as a Service) solution to provide complete service content for companies interested in deploying blockchain technology.

In addition, we will explore the establishment of a two-tiered regulatory blockchain solution.

We will combine the study of the China central bank’s digital currency two-tier operating system with the existing dual-layer blockchain engineering design. We will endeavor to research and implement the project on a double-layered blockchain solution, so that the regulatory layer can set up and control the payment channel, and at the same time publicly and transparently display the distributed ledger. It can reduce the financial non-disclosure and the uncontrolled payment to a certain extent. We hope that blockchain products can be widely used without risk and under sufficient protection.

The Foundation will continue to experiment and make further improvements to the abovementioned R&D activities with the open source follow-up as a result. Any company can deploy the Genaro open source code for free, and we are happy to see that this significant research and development work in recent years is being continuously applied to an increasing number of organizations and creating value. However, we strictly oppose involvement of any entity in malicious speculation with encrypted assets or engagement in illegal finance-related activities. Genaro’s core principle since its inception has been to primarily focus on the infinite possibilities of blockchain and the development of the global decentralized technology, as well as to respect and consistently comply with laws and regulations in various regions we have been operating.

The future is here with all its challenges, but together we travel on the road to the digital economy.

Genaro Foundation

November 2, 2019



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