Infireum, a blockchain project aiming to enhance the transaction experience of consumers and merchants, has announced that its own blockchain, InfireumChain, is ready and will be going live in March 2020.
March 11, 2020 /MarketersMedia/ —
At a time when most blockchain projects have slowed down on developments, Infireum, a blockchain project aiming to enhance the transaction experience of consumers and merchants, has announced that its own blockchain, InfireumChain, is ready and will be going live in March 2020.
This monumental advancement means that Infireum is one huge step closer to its aim of being the fabric of digital asset transfers and providing a speedy, secure, scalable, and self-sustainable transaction system on a global scale.
Initially launched on the Ethereum public blockchain, Infireum’s migration to its own blockchain is a declaration of independence. A project with its own mainnet or blockchain will be able to tailor solutions for their specific needs, push out updates faster and ultimately enjoy more flexibility in development.
All blockchains need a consensus mechanism, and InfireumChain is no different.
InfireumChain’s proprietary protocol is the Variable Node Validation Authority (VNVA), a bespoke consensus mechanism designed to meet the needs of the Infireum ecosystem.
Some of Infireum’s upgrades with InfireumChain include the following:
High transaction speed by utilising sub-chain channels and hashed blocks with timestamps to validate multiple parallel chains.
Interoperability by design to work seamlessly with other network architectures in the market.
Accountability via a block explorer dashboard that is accessible to the public.
The first product to launch on the InfireumChain is the Infireum Universal Wallet, which is capable of storing multiple digital assets in one place. At the time of writing, the wallet is capable of storing the most popular cryptocurrencies and stablecoins, and will be available to the public on both the Apple App Store and the Google Play Store at the end of March 2020.
With the launch of InfireumChain, the native token will be upgraded from the original ERC-20 token (IFR) to the new interoperable token, IFRC. In addition to its predecessor’s original properties, IFRC tokens can also be used across all apps, products and other platforms powered by InfireumChain.
In preparation for the transition of IFR to IFRC, the trading of IFR will be halted on 12th March 2020. The process is estimated to take at least 3 months, and IFR trading will be suspended until then to comply with regulations and to ensure that the transition is seamless for users.
About Infireum Holdings
Infireum Holdings is a company spearheading Infireum, a project designed to enhance the transaction experience of consumers and merchants. Infireum is involved in business and technological developments and partnerships that allow the project to reach their goal of a low-friction digital transaction ecosystem for Asia. For more information, please visit Infireum Holding’s website at www.infireum.com.
Release ID: 88949519