Welcome!

News Feed Item

ArcBlock, the World's First Blockchain Ecosystem for Decentralized Applications, Is Building the Foundation for Blockchain 3.0

CHICAGO, Jan. 12, 2018 /PRNewswire/ -- Robert Mao, former researcher with Microsoft Research, serial entrepreneur, and technology innovator, together with Flavien Charlon, the creator of Colored Coins, Open Assets Protocol, and Openchain, today announced the launch of ArcBlock, the world's first blockchain ecosystem for building and deploying decentralized applications. ArcBlock is aiming to seamlessly connect between the existing system and services, and blockchain networks, throughout dynamic industries.

Looking back on 2017, Bitcoin and the ICO (Initial Coin Offering), which have been considered as "killer applications" separately in both Blockchain 1.0 as well as Blockchain 2.0 generations, have ushered in explosive growth. The price of Bitcoin surged 20 times, from $1,000 at the beginning of the year to $20,000 at its highest point. The total market value of the top 100 cryptocurrencies have exceeded $600 billion, with ICOs raising more than $6.133 billion in the past 11 months, accounting for 96 percent of total financing over the past four years.

The sizzling Bitcoin and ICO markets caused a surge in attention within the global community about blockchain technology, as it is now widely believed to be a game changer. However, this also brings certain uncertainties when upgrading to Blockchain 3.0, because it lacks the power of penetration into the real business world; numerous difficulties and obstacles prevent its real-world application; and its "infancy" stage on the development of decentralized application.

The birth of ArcBlock is exactly the right time to further empower the blockchain technology to be implemented into the real world, and has an extraordinary epoch-making significance in the long run.

Revolutionary New Design Is Leading the Blockchain 3.0 Trend

"ArcBlock is a comprehensive solution that combines blockchain technology with cloud computing, rather than a standalone software package or set of APIs," Mao says. "In addition, it's a marketplace driven by token economy. ArcBlock's 'miners' will contribute not only computing resources to the system, but also reusable components, new services, or ready-to-deploy applications to get token rewards. This is a Blockchain 3.0 application ecosystem developed by the entire ArcBlock community-we're just jump-starting the project."

ArcBlock's Open Chain Access Protocol enables the application to adapt to a variety of blockchain protocols including Bitcoin, Ethereum, Hyperledger, and more. It eliminates the platform lock-in issue and enables applications to run on multiple blockchain fabrics, vastly improving the developer and user experiences. Blocklet is another revolutionary component that takes advantage of the latest micro-service architecture and server-less computing technology. Blocklet is a high-level application protocol that can be implemented with any platform or language. It leverages the full capacity of the native platform and offers the same level of performance, rather than running on a low-performing virtual machine.

Blocklet does more than access blockchains. It connects to any existing data source, and performs both on-chain and off-chain computing. Its unique design aims to provide a high-performance, user-friendly, cost-efficient, and protocol-agnostic platform.

"We believe that ArcBlock represents a major technological advance that will usher in the 3.0 generation of blockchain applications," Charlon says.

Building and deploying decentralized blockchain applications with ArcBlock has significant advantages over the vendor-specific frameworks available in today's market, including:

1. Built for the New Token Economy

ArcBlock is a self-evolving ecosystem – it's not just a software platform built by one centralized organization. ArcBlock, Inc. and the ArcBlock Foundation are igniting the project; the platform is driven by the token economy and will continue to develop and grow on its own.

2. Optimized for the Best Experience

The ArcBlock platform is using a "top-down" strategy that centers on the user experience. Applications built with ArcBlock offer reactive, real-time experiences. Users can simply access them from a web browser (no additional plugins required), or download a mobile app directly from an app store. Either way, the process is familiar.

3. Built for the Cloud

ArcBlock is designed to run natively in the cloud. Initially we will build on top of Amazon Web Services and Windows Azure, then expand to support Google Compute Engine, major cloud-computing players in China, and other platforms.

4. Built with an Open Standard

In addition to open sourcing their core components, ArcBlock will contribute actively to a variety of blockchain communities. ArcBlock's team members are involved actively with a range of standards organizations, non-profit foundations, and committees. These currently include the W3C Blockchain Community Group Community Group (CG), IEEE Blockchain Special Interest Group (SIG), Enterprise Ethereum Alliance, Linux Foundation, and Hyperledger Foundation.

Following Cryptocurrency and I.C.O., Decentralized Apps Are the Future

ArcBlock set out to design and develop its revolutionary platform at the beginning of 2017. 80 percent of the first-stage system's development has already been completed. ArcBlock has also achieved initial intent of cooperation with many businesses, platforms, and institutions in the fields of I.T., education, publishing, culture and tourism, health, and smart cities. At the end of November 2017, ArcBlock successfully raised angel-round funding. The investor is a leading capital institution that is repositioning its all-out investment effort in the blockchain industry. They certainly recognize the promise of ArcBlock.

"When people talk about blockchain today, they only see cryptocurrencies represented by Bitcoin," Mao explains. "Now blockchain is evolving to a stage with decentralized applications at the core. In the future, the value decentralized apps create will exceed what cryptocurrencies create today. We founded ArcBlock and built a global team. The purpose is to create the next-generation blockchain ecosystem for building and deploying decentralized applications. We're extremely excited about the bright future of blockchain."

To learn more about ArcBlock, visit arcblock.io or join our Telegram community at t.me/ArcBlock.

Cision View original content:http://www.prnewswire.com/news-releases/arcblock-the-worlds-first-blockchain-ecosystem-for-decentralized-applications-is-building-the-foundation-for-blockchain-30-300582156.html

SOURCE ArcBlock

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...