Within the newest episode of SlateCast, Akiba spoke with the CEO of CoDe Tech about the way forward for blockchain expertise.
CoDeTech is a futuristic web3 firm that doesn’t suppose web3 is sweet sufficient. Commenting on Ethereum’s present standing for instance, CoDeTech‘s CEO, Ockert “Okkie” Loubser, stated:
“The most important drawback is most of it’s hosted on cloud-based options. They’re utilizing the centralized types of connections. If a service supplier goes down, the community goes down.”
He continues speaking about CoDeTech’s imaginative and prescient and perspective, saying that almost all use instances are based mostly on growing a token and making an in-app buy. CoDeTech sees the expertise not as a token however as an immutable ledger. Okkie says that blockchain must be used to create a trusted setting.
He states:
“Our enterprise is targeted on equality, equal alternative, and inclusion into lively economies…Connectivity is a human proper.”
He then continues to say that CoDeTech’s first objective is to interact with people and companies that wish to combine right into a decentralized setting and develop their neighborhood.
Decentralized earlier than Bitcoin
Okkie began his profession by specializing in digitalizing analog movies within the early 2000s. He expanded its experience by including satellite tv for pc connectivity and growing a closed-loop Level Of Sale (POS) system. This POS system was created in 2004, and digitalized bodily checkbooks have been used often.
What’s attention-grabbing in regards to the POS system is that it used POS terminals and didn’t maintain any information on the POS gadgets. Okkie outlined this method as “an early type of tokenization.” and stated that it expanded exponentially between 2005 and 2006.
CoDeTech
Okkie joined CoDeTech in 2013. The corporate was an e-commerce platform struggling to separate funds between retailers. Whereas making an attempt to unravel this drawback, the workforce bought impressed by blockchain expertise and set off to construct their chain.
9 years later, their platform, Core Blockchain was up and operating. It’s a absolutely decentralized blockchain that makes use of a model of PoW which works as Proof of Distributed Effectivity. The workforce developed the chain to be extremely distributable and eco-friendly.
Core (XCB) Blockchain
Based on Okkie, Core Blockchain is the primary blockchain that ever used ED448 “Edwards Curve” as a cryptography technique and built-in HD wallets. The chain can confirm one transaction in 42 seconds and holds six blocks per transaction. A brand new block is mined each seven seconds and offers 5 cash as a reward.
The verification time applies to all information sorts, whether or not monetary or pure. The community can confirm fiat, doc, and peer-to-peer transactions and sensible contracts.
The chain additionally applies ICAN requirements for human eligibility and ISO 20022 ache protocol. Provided that ICAN requirements resemble IBAN requirements and ISO 20022 is just like swift messaging, these options have been added to the chain to encourage monetary establishments to implement Core Blockchain.
The workforce additionally developed its sensible contract language, Ylem, which features equally to Solidity. Okkie says it takes practically 20 minutes to port an Ethereum-based sensible contract to the Core chain.
Luna Mesh
After constructing the chain, the workforce wished to extend its connectivity to make sure it was working in direction of its objective of inclusivity. To take action, the workforce created Luna Mesh. CoDeTech constructed its personal proprietary protocols that would use a number of frequencies, from radio frequencies to sub-gigahertz frequencies, on the similar time.
The system makes use of Wifi 6 and Bluetooth as a type of entry into the community. Luna Mesh makes use of IoT gadgets as infrastructure, and Okkie says it’s a lot simpler to stream utilizing Mesh community than constructing towers. This enables Luna Mesh to show any metropolis with an current infrastructure right into a community by having every IoT system to behave as hotspots.
Luna Mesh is at present operating in a Beta check model in Europe. The worldwide launch is deliberate for the primary quarter of 2023.
Net 4.0 and Id
CoDeTech goals to improve the present web3 functions and digitalize all. Nevertheless, the workforce can be conscious {that a} strong digital id ecosystem is important. Okkie states:
“To have the ability to function in a decentralized digital setting, you want, mainly, a digital id.”
Given the corporate’s imaginative and prescient, it’s not stunning to listen to {that a} digital id answer was one of many first issues the corporate constructed. The workforce named the answer “CorePass” and designed it to be absolutely serverless, decentralized, borderless, and absolutely GDPR and CPA-compliant. Its launch is deliberate for Oct 14, 2022.
It’s designed to have the ability to digitalize any government-issued doc in any a part of the world whereas additionally permitting to connect digital attributes similar to relations, medical information, and investments to the particular person’s id. So long as the particular person can show their relationship and its worth, CorePass permits the ID holder to connect it to their id.
The system additionally permits for full traceability. It’s doable to seek out who leaked what data and did what with it. This additionally provides ID-holders the accountability for their very own information and will result in situations the place they could possibly be held accountable if their data was uncovered as a consequence of an error of judgment on their facet.
Possible and Practical Community
Along with establishing a functioning digital id system, CoDeTech can be constructing complementary features that must be decentralized in a web4 world.
One among these functions is “Wall Cash,” which behaves like a banking-as-a-service and neo-banking platform. One other utility, CorePay, accompanies Wall Cash by functioning as a decentralized peer-to-peer fee gateway.
There may be additionally Ping Change; a hybrid alternate deliberate to launch the identical day as CorePass, on Oct 14, 2022. One other app is an e-commerce platform known as TokToKey (TTK). TTK is a completely decentralized platform incorporating varied progressive features powered by CoDeTech’s fee gateway and alternate.
TiNG & MeeTiNG platform is constructed to be the web4 model of YouTube. This solely serverless, peer-to-peer, absolutely decentralized video streaming platform is browser-based and has an OBS integration.
For safe messaging, calling, and video chatting, CoDeTech constructed Heyo. It makes use of the identical expertise because the MeeTiNG platform and likewise has absolutely built-in wallets to permit funds.
