POA Network and BitClave announce partnership
POA Network and BitClave announced their partnership. POA Network, thanks to its PoA consensus mechanism and the cross-chain bridge technology, offers cheaper on-chain transactions and a seamless transfer of tokens between chains. BitClave is planning to pilot its product, a decentralized search engine, on first POA Network’s chain — Core Network to utilize the above mentioned advantages.
BitClave is evaluating various solutions to address Ethereum scalability issues and POA Network solution looks very promising. Even though BitClave is building a global and borderless platform, to some extent, it will be influenced by geo-locality. One simple example of it would be a car dealership offering a promotion, which is only available in certain geographical areas.
Solution, offered by POA Network, would allow BitClave to have multiple sub-chains, created specifically for certain geographical regions or even countries. Using this architecture, BitClave can run smart contracts between main Ethereum blockchain and POA Network-based sub-chain, since all the sub-chains are Ethereum-compatible. Transactions in each sub-chain will be faster and cheaper due to POA Network’s PoA consensus mechanism. Tokens can be easily moved between sub-chains and main Ethereum chain with the help of POA Networks’ cross-chain bridge technology.
POA Network’s key goal is to build an ecosystem for fast-growing and high potential projects. Partnership with BitClave would be a perfect use-case for the platform’s capabilities. Having BitClave as a first project, utilizing POA Network’s capabilities is a major stepping stone, setting an ambitious path for the long-term perspectives of the project.
“We are very excited about this partnership. BitClave is a great use-case of how organizations can launch their projects on POA Network and have an access to cost-efficient Ethereum-compatible blockchains for all or some of their transactions”- shared his thoughts the co-founder of POA Network, Igor Barinov.
“We have very high expectations from this collaboration, since a high-performant and cost-optimized blockchain is one of the key requirements for seamless operations of BitClave” — commented the co-founder of BitClave, Vasily Trofimchuk.
Both projects are planning to conduct their initial token sales later this year.
To read more about the POA Network ecosystem visit the following for more information:
Project Website: https://poa.network/
Project Forum: https://forum.poa.network/
To read more about BitClave visit the following for more information:
Project Website: https://www.bitclave.com/en/
About POA Network:
POA Network launches Core Network — the first Ethereum-based public network with Proof-of-Authority (PoA) consensus, reached by independent, pre-selected validators. POA Network makes smart contracts cheaper and faster than Proof-of-Work (PoW) predecessors.
BitClave is the next generation of search data privacy. BitClave Active Search Ecosystem is a platform that enables direct consumer-to-business interactions with no need for intermediaries. BitClave gives users control over their data and compensates them for relevant searches.