Cypherium Joins Hands with the Blockchain-based Service Network to Advance Protocol Interoperability
The CBDC-focused smart contract technology provider has partnered with a blockchain infrastructure network to make Cypherium more accessible and cost-effective for developers.
NEW YORK, NY / ACCESSWIRE / October 14, 2021 / Cypherium, a layer 1 blockchain protocol designed to create financial inclusivity through protocol interoperability while delivering operational efficiencies for its enterprise and institutional partners, has announced a strategic partnership with the Blockchain-based Service Network (BSN), a cross-cloud, cross-portal, and cross-framework global public infrastructure network with a strong global presence. The partnership looks to ensure Cypherium technology is available to developers around the world.
Under the partnership, Cypherium's technology will be integrated into the BSN, which provides developers and companies a one-stop-shop solution - encompassing programming, software development, resource and environment configurations, application deployment, gateway APIs, local SDKs, key certificates, and more - for building blockchain and distributed ledger technology (DLT) apps, which are interoperable within one uniform environment. The BSN was created to spur the mass adoption of blockchain technology, having already integrated more than two dozen permissioned and permissionless blockchain frameworks, including Hyperledger Fabric, ConsenSys Quorum, Ethereum, Tezos, Solana, and Algorand.
The latest integration will bring Cypherium's unique combination of scalability, security, and decentralization to the BSN ecosystem, enabling central banks to develop, deploy, manage, and exchange CBDCs with greater efficiency. This will also help strengthen the role of Cypherium as the world's leading decentralized financial infrastructure for facilitating cross-chain compatible CBDC transactions.
Yifan He, CEO of Red Date Technology and Executive Director of the BSN Development Association says: "The BSN was designed to enable interoperability across different blockchain frameworks and dramatically reduce the cost of developing and running blockchain applications. We are excited to announce the integration of Cypherium into the BSN and help support Cypherium's mission of financial inclusion around the world."
The partnership announcement also follows Cypherium's publication of joint research with Facebook's Novi, Citibank, MasterCard, SWIFT and central banks, among many others.
Additionally, Cypherium was listed on the Société Générale Startup-Flow as a preferred startup. Partnerships with global technology giants like Google, Microsoft, and Randstad are further testament to Cypherium's continued dedication to remedy the systemic inefficiencies of today's infrastructure by offering decentralized solutions powered by cutting-edge distributed ledger technology.
Using a hybrid consensus mechanism, the Cypherium blockchain is designed to achieve commercial viability while preserving the characteristics of decentralization and DLT. Cypherium's approach to creating financial inclusivity between civilians, banks, government, and enterprises begins with its Digital Currency Interoperability Framework. The DCIF is Cypherium's proprietary architecture for allowing any asset, including CBDCs, stablecoins, and digital assets, to be received or distributed on-chain or cross-ledger.
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Cypherium is a layer 1 blockchain protocol designed to offer financial inclusivity for users while delivering operational efficiencies for its enterprise and institutional partners. Using a hybrid consensus mechanism, the Cypherium blockchain is designed to achieve commercial viability while preserving the characteristics of decentralization and DLT. Cypherium's approach to creating financial inclusivity between civilians, banks, government, and enterprises begins with our Digital Currency Interoperability Framework. The DCIF is Cypherium's proprietary architecture for allowing any asset, including CBDCs, stable coins, and digital assets, to be received or distributed on-chain or cross-ledger.
About Blockchain-based Service Network (BSN)
The Blockchain-based Service Network (BSN) is a cross-cloud, cross-portal, and cross-framework global infrastructure network used to deploy and operate all types of blockchain applications. It is a global infrastructure to empower developers and companies to create next-generation decentralized applications (DApps) far more efficiently and interoperable under one uniform environment.
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