RIZON: 2022 Review and New Adventure
Hello, welcome to RIZON.
After the mainnet launched under the name of Titan in 2021, with continuous development and pioneering in Web3, MAGUNUS upgrade has been completed in early 2022, and preparations for future services are in progress.
RIZON completed a security audit in the first half of 2022 to ensure its stability and security. Starting the later half of 2022, we are happy to announce that we will proceed with ISMS certification to prepare RIZON’s information protection management system.
In its expansion into the Cosmos ecosystem, RIZON enables staking ATOLO using Keplr Wallet and Omniflix, and plans to issue stablecoin in the second half of the year as it establishes itself as a digital currency and asset hub. RIZON Blockchain is also in the process of implementing CosmWasm smart contracts to mount the multi-chain smart contract platform module.
In this article, we will share RIZON’s progress thus far and our latestplans for RIZON as a digital currency and asset hub in the future.
RIZON has established business plans for 2022 and up to Q2 of 2023.
RIZON completed a security audit through CertiK, an edge-standard cyber security company established by a computer science professor from Columbia University with the goal of improving security and accuracy of smart contracts and blockchain protocols. The audit was conducted to ensure the stable service of the newly established Mainnet after the end of official SWAP support period in Jan. 2022.
In preparationfor RIZON’s expansion in the Cosmos ecosystem, the Titan Upstream and IBC patch work were configured on Testnet so that voting, channel opening, transmission, receiving, and IBC approval could be tested. Under the name Magunus and Gargantua, RIZON has successfully completed the mainnet network update through the participation of various users and validators.
Updated Business Plans
RIZON has already been approved for the issuance of stablecoins through FINMA in Switzerland. We are planning to issue stablecoins in RCHF and REUR in the second half of this year.
Currently, RIZON is in the process of preparing the stablecoin business by constructing business scenarios and reviewing the technology. RIZON plans to establish strategies for promotion and service building so that many users can use its services and take advantage of the RIZON Blockchain.
RIZON designed and developed a RIZON-based private chain so it can be used for the distribution of information management in enterprises in addition to on- and off-chain services.
Updated Technical Plans
Since the second half of 2022, RIZON is in the process of designing and developing to provide CosmWasm and to stably run software written in multiple languages on the web. And RIZON also plans to configure Testnet to provide a smart contract platform environment for testing.
CosmWasm is a multi-chain smart contract platform. The platform provides a WebAssembly (Wasm) virtual machine (VM) for the Cosmos SDK.WASM is a web assembly binary file. By mounting WASM, a fast-processing language can be used on the web.
As CosmWasm is delivered and integrated as a module that connects to the Cosmos SDK, anyone building a blockchain using the Cosmos SDK can quickly and easily add CosmWasm smart contract support to their chain.
ISMS & Security updates
In addition, RIZON intends to strengthen the internal security by establishing its internal security system through preparing for ISMS certification in the second half of the year. With ISMS, RIZON will provide services as a virtual asset operator, acquiring virtual asset ISMS certification soon.
About RIZON Blockchain
RIZON Blockchain is a digital currency and asset hub that provides a platform for fiat currency around the world so they can be securely issued and enable businesses to interoperate. RIZON Blockchain will enable interoperability between sovereign blockchain networks and allow these networks to utilize a vast pool of liquidity, seeing that it serves the business needs of individual projects. RIZON Blockchain has a strong network-based background and can boost the inflow of participants into the ecosystem and help with diversifying the businesses.
This is not meant to serve as financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the lossof all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.
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