Singapore-headquartered monetary expertise startup BI FINTECH is all set to concern a cryptocurrency, known as BibleCoin, based mostly on the fourth era of blockchain expertise.
However, earlier than releasing BibleCoin to the market, the agency has plans to accumulate South Korea-based Korea Framing Institute, which holds a security-related worldwide patent for ‘integrated authentication system for authentication using single-use random numbers’. It is the first expertise on which the 4th era blockchain of the agency is constructed.
Blockchain generations
In 2009, Satoshi Nakamoto first pitched the thought of a digital foreign money based mostly on decentralized ledger expertise. Thus, Bitcoin emerged as a coin based mostly on first blockchain expertise. However, in 2014, Vitalik Buterin launched sensible contracts based mostly on the unique blockchain expertise. This unleashed the true potential of the decentralized expertise and thus, it was termed because the second era of the blockchain.
Despite the large potential to revolutionize a number of industrial sectors, Ethereum has many technical shortcomings – the large downside of scalability for an occasion. To overcome the problems with scalability and velocity, many blockchain startups advanced the expertise to introduce the third era of the nascent expertise.
However, the rising variety of assaults on the blockchain ecosystem compelled the companies to consider upgrading the expertise.
Korea Framing Institute’s Head of Research Hwang Soon Young stated: “The patent, a 4th-generation crypto-related technology, will allow users to avoid ‘hacking issues,’ which have been troublesome for the distribution process of cryptocurrencies and global crypto-exchanges.”
Marketing ways
According to the issuing agency, BibleCoin is massively backed by church buildings and Christian-related firms all around the world. The assist of a huge following of such devoted group is a large benefit for any venture.
Moreover, BI FINTECH partnered with the worldwide information platform GNN. According to the signed international publishing deal, GNN together with its international branches will promote the coin and its upcoming ICO.
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