RIZON: 2021 Review and new adventure
The past year was full of historical growth and change of RIZON Blockchain. In 2021, RIZON launched mainnet a.k.a Titan starting from incentivized testnet which is Groot. Not only RIZON but also it was a fascinating year for Cosmonauts.
There were some main feature goals for RIZON. First was to rebrand new visionary rebranding. The second was to kick-off Tendermint-based RIZON incentivized testnet and launch mainnet. The third was to initiate Event Horizon a.k.a Atoloswap. Which was to let legacy community members migrate to RIZON network. Lastly it was a mission for RIZON team to invite new Rizonians and deliver RIZONs’ vision, Digital currency and asset Hub. With full of excitement, all the RIZON’s achievements enabled all above.
In this article, we would like to first provide an overview of 2021 milestones reached to RIZON community. Then we will investigate RIZON’s new adventure that led Rizonians to go forward with the mission as Digital currency and asset Hub.
RIZON 2021 Milestones
RIZON has set the Roadmap in early 2021. The mission was simple but also complicated. Initiate RIZON and migrate legacy members to enter Event Horizon and settle in Titan in safe.
In June, RIZON had booted incentivized testnet and launched incentivized testnet, Groot. More than 1,000 node participants joined the community to support RIZON. Also, announced in HCMC 2021 that RIZON will be part of Cosmonauts.
In September, RIZON team visited Messari mainnet 2021 to share the vision and look deep inside what IBCGang looked like. With inspired thoughts, RIZON initiated mainnet with cold booting. New Rizonians supported to start Titan and are securing the network. When the status was stable, RIZON have initiated Event Horizon to welcome the previous community members to become Rizonians.
In the end of the year, RIZON team visited Cosmoverse and HackATOM to be part of Cosmonauts and was inspired how other Cosmonauts drives through IBCGang. They were all confident with their visions as RIZON did and willing to support each other. RIZON also have announced to get first step of Digital currency and asset Hub, stablecoin.
The adventure with Rizonians
The launch of RIZON Blockchain is just the beginning. To make new era as a Digital currency and asset Hub, RIZON will continue to pave a path towards sailing Web3 economy.
By reminding the mission of RIZON Blockchain, let’s go through the adventure that RIZON is on. The mission of RIZON Blockchain is to provide a platform where fiat currencies around the world can be securely issued on and enable businesses to interoperate with each other through the Cosmos IBC(Inter- blockchain communication). Enabling interoperability between sovereign blockchain networks and allowing for an environment for these networks to utilize a vast pool of liquidity is key to providing a platform that caters to the business needs of individual projects. RIZON Blockchain aims to become the stablecoin hub for digital assets and businesses.
There are 4 core features as below: Let’s go through one by one.
RIZON’s mission is to give liquidity in own Blockchain but also to Cosmos ecosystem and more. The first step to be a Digital currency and asset Hub is to launch stablecoin. RIZON will be focusing on building stablecoin generate model and governance model.
This focus will make service providers to build not only on-chain but also off-chain financial services. This allows lower the huddle to enter Blockchain ecosystem, individual business and rich liquidity environment, and fast enough to procure business requirements.
One of the features for RIZON team is to invite new Rizonians to see RIZONs’ visions. More exchange pairs and market types will be also introduced to attract new community members. Currently, official Event Horizon has ended, and previous members are learning how to be Cosmonauts. However, there should be more spot markets to let newbees to see decentralized network. Over the coming months new spot markets will be introduced by the community.
The key point of being part of Cosmos ecosystem is IBC. RIZON launched with Cosmos SDK and will be part of IBCGang shortly. This IBC solution will allow RIZON to offer markets originating from other protocols such as Osmosis, Emeris, Sif, etc. It also is important for RIZON
New markets of RIZON will allow new communities to learn about the mission, Digital currency and asset Hub.
Cosmos ecosystem contributes each other by contributing modules and services. RIZON will also focus on building modules and follow core updates that are needed in our environment. There will be some concepts that RIZON are going to focus and support.
- Asset usability — The asset generation module pegs fiat currencies to stablecoin assets using pegging contract. It enables protocols to design business models unaffected by price fluctuations and eliminate limitations created by intermediaries, enabling a more inclusive and decentralized environment. By using RIZON Blockchain, Rizonians can be supported asset-backed type digital currency generation and services.
- Identification — Privacy and information security is an important factor in a decentralized network. RIZON iterates from the old vision to extend its application past by supporting digital identity information generation and management .
- NFT — NFTs can prove ownership of items ranging from art works, game items, digital collectibles, etc. RIZON Blockchain will support the protocol and creation function of Non-fungible Token to utilize.
- IBC enhancement — Inter-Blockchain Communication (IBC) allows blockchains to talk to each other and it handles transport across different soverign blockchains. By entering part of IBCGang Rizonions can experience blockchain interoperability and make connection between chains to transact, exchange tokens or other data, scale, and thrive in an interconnected network.
By building above core development RIZON can expect to see more Rizonians get benefit to identify themselves in decentralized environment and access new assets, markets and DApps.
- Smart Contract — RIZON is one of Cosmonauts and is already a high scalable chain and driving to become a Digital currency and asset Hub. One of the next steps is enabling Smart Contract layer so that Rizonians can develop to build new interoperable services that fits for Web3 economy. To invite new development based Rizonians from outer space, it is needed to create Smart Contract on RIZON Blockchain.
CosmWasm is one of the standard smart contracting platforms for the Cosmos ecosystem. It is written as a module that can plug into the Cosmos SDK and by using CosmWasm, developers can develop building highly performant smart contract layer. Also, CosmWasm is also flexible since developers can upload codes directly to transactions without restarting the chain.
To develop CosmWasm, RIZON will research deeply to support to build sophisticated architecture that developers can interact with outer Cosmos ecosystem.
Previous community did not have any governance made. In RIZON Blockchain and in Cosmos ecosystem, anyone can propose ideas in forum and make votes to make growth in participated network. To expand the community, there will be some ecosystem programs which will make RIZON more decentralized and decisions made by community.
Validators are one of the most core contributors in DPoS consensus. To power their voice for themselves and their trusted stakers, there needs to be enough voting power. For validators, there will be delegation program running when securing the network and make contribution to RIZON. It will be notified soon.
RIZON is governed and run by community members, Rizonians. To invite and develop RIZON Blockchain, there needs a community pool designed to make right decisions and use to make benefits to ones that have participated.
RIZON: Possibility to Reality
RIZON and its ecosystem is growing. To build infrastructure globally, all participants need to give ideas and propose. RIZON will continue to build the most powerful decentralized Digital currency and asset Hub and innovate Web3 applications.
RIZON Blockchain is a digital currency & asset hub that provides a platform where fiat currencies around the world can be securely issued in an enable businesses to interoperate with each other. Rizon Blockchain will enable interoperability between sovereign blockchain networks and allowing for an environment for these networks to utilize a vast pool of liquidity, providing that caters to the business needs of individual projects. RIZON Blockchain has strong network background and capable boosting the inflow of the ecosystem participants and the diversification of business.
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