New York City. 14th June, 2019 – Cypherium, the enterprise-focused blockchain platform that prioritises scalability and decentralisation, has announced the launch of its Mainnet Preview and subsequent Initial Mainnet Offering (IMO). Encompassing all the functionality of the complete mainnet, the Mainnet Preview allows users to explore the speed and throughput capabilities of the platform prior to participating in the IMO.
Cypherium’s network deploys a novel combination of Proof of Work (PoW) and Practical Byzantine Fault Tolerance (PBFT) consensus mechanisms to achieve the scalability required for bandwidth-intensive enterprise applications, such as payment systems, ledger keeping, and inter-company resolution. Following the roll-out of its Mainnet Preview, Cypherium will host an IMO to allow platform users to participate in the technology, gaining an accurate valuation of the operating network in the process.
Sky Guo, Founder and CEO of Cypherium, says: “Blockchain offers the potential to radically disrupt enterprise processes, and businesses are increasingly eager to adopt decentralised technologies to improve efficiencies, increase transparency and cut costs. However, achieving the scalability required has traditionally come at the expense of decentralisation, something at odds with the founding principles of blockchain technology. We’re launching the Mainnet Preview to address these shortcomings and implement a blockchain solution that achieves thousands of transactions per second within an intuitive framework designed to transform the future of business, law and enterprise.”
By utilising advanced blockchain architecture in the form of its dual chain structure, Cypherium is capable of processing upwards of 5,000 transactions per second and delivering significant business benefits, including cheaper, more lightweight deployment, enhanced security, improved traceability, increased efficiency and speed of transactions, and reduced costs. With Cypherium, enterprises may have access to a distributed ledger technology that can scale, while also delivering the numerous privacy and security benefits of blockchain technology.
Cypherium also implements a Turing-complete virtual machine for smart contracts that runs on Java, the world’s most widely-used and reliable programming language. As a result, it can operate on any device capable of running Java, significantly lowering the barrier to blockchain adoption for existing enterprise, facilitating the use of the technology to solve real-world problems faced by today’s businesses.
Following the launch of the Mainnet Preview, Cypherium will host its IMO to allow users of the network to purchase tokens to operate it. By hosting the IMO after launching the Mainnet Preview, it is enabling participants to trial the full functionality of the network prior to participation, guaranteeing complete clarity and transparency and allowing its users to play an active role in the future development of the platform.
Cypherium CTO Solomon Zhang says: “The launch of the Mainnet Preview is a significant milestone in the development of the Cypherium platform, and we’re extremely excited for our community to experience this powerful system. Delivering a truly enterprise-ready solution cannot be done overnight; instead, continuous feedback and contribution from users will be invaluable in enabling us to develop the solution that the world needs.“
The launch follows recent partnership announcements with Amazon Web Services and IBM, and Cypherium’s board of advisors includes noted blockchain authorities Emin Gün Sirer, Bryan Ford, and Jeremy Gardener.