LEWES, Del., March 15, 2021 (GLOBE NEWSWIRE) — RubiX, a full-scale Blockchain-as-a-Service (BaaS) and security solutions company, today announces the launch of its free, open-source public blockchain testnet availability with the Blockchain Green Initiative.
The RubiX (RBX) proofchain was purpose-built on Proprietary ‘Proof of Harvest’ (POH) Consensus mechanism to facilitate cloud-to-chain migrations that meet the need for a variety of enterprise-level applications, including NFTs, DeFi, Payments, Smart Contracts and Industrial Applications.
RubiX provides an unparalleled level of security as a layer-one solution, combined with a decentralized identity token (DID) which is split non-linearly into private and public shares. The result is a level of security 1,000,000 times stronger than Bitcoin’s ECDSA 256 encryption algorithm.
“Our goal was to cut down the Carbon Emissions caused by Bitcoin and other Proof of work (PoW) based blockchain mining activities, using a secure proof-of-harvest alternative that’s cryptographically superior to the current blockchain platforms,” says Chakradhar Kommera, Chief Technology Officer at RubiX. “Our solution can be used to democratize an unlimited number of industries and is driven by users, not investors. 100% of RubiX tokens are meant for eco-friendly mining without any carbon emissions. Smart contracts & NFTs consume more energy than simple coin transfers with current PoW protocols, hence there is an even bigger need to use a sustainable blockchain technology.”
Not only is POH consensus from RubiX faster (0.25 seconds confirmation) and more secure than competitors, it uses no dedicated power for mining, and it is 100% eco-friendly. As the use of cryptocurrency increases, so does the industry’s carbon footprint. RubiX uses minimal nodes for POH based consensus, so its carbon footprint is zero. RubiX is committed to nullifying its environmental impact by refraining from POW mining. Anyone with a computer or a smartphone can download the full RubiX node and become a validator and a miner using no extra electricity for the same, contributing to the goal of a carbon-neutral economy.
RubiX is currently handling more than three million unique weekly active Industrial users – more than any other public blockchain at this point of time.
To learn more about RubiX and how to build or switch your existing Smart Contracts, NFTs, DeFi or Industrial applications to a sustainable and secured technology or contribute towards the development of the Blockchain Green Initiative, visit www.rubix.network.
Developers can access RBX whitepaper and Testnet at https://github.com/rubixchain/rubixnetwork.
RubiX is a proofchain protocol that can scale with asynchronous parallelism to facilitate real world decentralized applications. Cryptographically strong, POH consensus algorithms are used for transaction validation. RubiX uses Proof of Harvest satisfying PBFT rule for consensus allowing full nodes to be run across all platforms (Server, NAS, VMs, PCs, Embedded Platforms, IoT’s and Mobiles). The platform leverages real world Distributed File System (DFS) based on content-based addressing for data storage.
RubiX has primarily two types of tokens: Protocol tokens generated with strong mathematical proofs that are mined by nodes working to secure the network by storing proofs (capped under 51 million), and Asset tokens that can represent any underlying asset or contract including NFTs. DeFi or Smart Contracts, RubiX Network is an aggregation of several account-chains existing in parallel. Transactions achieve consensus individually, allowing for asynchronous parallelism leading to very high scalability. Account-chains are linked through unique tokens & tokenchain hashes.
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