The platform provides low-cost data security and NFT minting for industries ranging from supply chain to insurance to fine arts.
— Elvis Rodriguez | Principal Engineer, LaneAxis
Camana Bay, Cayman Islands, 15 November 2022 /EIN Presswire.com/– AXIS Token Internationalcooperation partners Lane Axis Co., Ltd., the industry’s first blockchain-powered Direct Freight Network, today announced the launch of AXIS Chain, a Layer 2 (L2) blockchain. Securing and streamlining day-to-day data storage via blockchain is the new frontier in the technology world. AXIS Chain offers a wide range of real-life applications that enable businesses to leverage blockchain technology and Web3. It is critical that enterprises move away from the traditional fragile single-point repository for information storage and move to next-generation 3.0 technology, an immutable ledger.
The newly developed AXIS Chain offers an advanced network that uses the Lachesis Consensus Algorithm (LCA) protocol for enhanced security and an L2 network for increased data storage and speed of transactions per second. increase. An energy-efficient Proof-of-Stake protocol secures the network, helping staking parties become validators and provide control and security to the AXIS chain. Information entered into the AXIS chain is stored in blocks, placed in nodes, validated and linked to protect data within each block. AXIS Chain follows the best security methods and is a fast L2 solution, making blockchain and Web 3.0 technologies accessible to businesses of all sizes and across many industries.
Elvis Rodriguez, Director of Engineering at LaneAxis, said: “Aggregating and protecting corporate and industry data is critical to our success. It’s an important benefit.”
AXIS Chain’s decentralized network aims to make traditional databases obsolete by utilizing ‘oracles’ that connect L2 blockchains to external systems and other blockchains, providing critical interoperability. provide, enabling AXIS Chain to execute smart contracts based on real-world inputs. The first applications of AXIS Chain will focus on the $15 trillion global supply chain, the multi-trillion dollar insurance sector, and the physical and digital arts sector.
Digitizing documents is a quick and easy process. Once accepted and adopted, AXIS Chain will become an invaluable tool for solving security/privacy issues through its immutable ledger and smart contracts that prevent fraud and data manipulation.
AXIS Chain offers a number of features that allow users to use chains for different purposes.
-Security: Store information on-chain with validators that protect all information on-chain.
– Scalability: A custom-made blockchain with vast capabilities to scale as network usage and activity increases over time.
-Increased Transaction Throughput: Significantly higher transaction speeds (transactions per second or “TPS”) at significantly lower transaction (gas) charges.
than a typical layer 1 blockchain.
-Staking: Validators increase the security of the chain by staking AXIS tokens and earn staking rewards at the same time.
– NFTs: Mint NFTs for a variety of purposes, such as verifying insurance policies or digitizing the world’s greatest works of art – and
Irreplaceable – a masterpiece.
-Developer Experience: Build AXIS Chain using your favorite tools and your preferred developer language.
– Decentralized data storage: store data on the AXIS chain, greatly reducing environmental impact (utilizing energy efficient Proof of Stake)
Consensus mechanisms as opposed to energy-wasting proof-of-work consensus mechanisms.
– Compatibility: Built with the same coding language as Ethereum – AXIS is compatible with all existing Ethereum DEXs, projects and protocols.
“AXIS Chain’s overarching goal is to provide the infrastructure and framework for enterprises to migrate from traditional data storage systems to a decentralized environment, providing safety and security through a Proof-of-Stake consensus protocol. That’s it,” adds Rodrigues. “The more businesses built on the chain, the more secure it is, and the more secure the user’s documents are.”
AXIS Chain is limitless in its ability to build new dApps and provide new opportunities for businesses and individual users that are not bound by traditional technological constraints. For more information, please visit the following URL: https://axischain.network/
About AXIS TOKEN INTERNATIONAL
AXIS Chain is a public Layer 2 blockchain focused on bridging the gap between real-world business challenges and next-generation Web3 technologies that decentralize, democratize and immutably protect documents and data is guessing. Born out of the need to provide a cost-effective solution for document integrity, data immutability, and smart contract automation, AXIS Chain enhances and secures business processes for companies and industries around the world. The premier Web3 platform built for AXIS Token International (ATI) is a private company based in the Cayman Islands.
On behalf of AXIS Token International
+1 (315) 395-1877