Gravity – a blockchain protocol based on Graphene, offering open-source frameworks for SME – implements the pioneering Delegated Proof-of-Importance (DPoI) consensus algorithm for small and medium-sized enterprises
HONG KONG – (ACN Newswire) – Gravity Solutions, the blockchain research and development firm, has announced the launch of its public testnet for the Gravity protocol that is poised to power next-generation distributed ledger solutions for small and medium-sized enterprises. According to the development team, the protocol offers a visionary take on network architecture and implements the Delegated Proof-of-Importance (DPoI) consensus algorithm. Inspired by Graphene – the open-source, modular blockchain framework – Gravity aims to incentivize the creation of decentralized organizations, small businesses, and applications while offering a mechanism for rewarding all network participants.
CEO and Co-founder of Gravity Solutions, Yury Parsamov, said, “Gravity aims to operate on two levels: protocol and solutions.
Gravity Protocol’s core features (the pioneering Delegated Proof-of-Importance (DPoI) consensus algorithm and a proprietary Index of Importance) incentivizes active network participants directly and thus stimulates network growth. Unlike other consensus algorithms (POW, POS, DPOS) the inflational emission is distributed not among the passive network users (miners, block producers, high stake holders), but among the most active ones and this ables Gravity Protocol to become a really used blockchain.”
“On solutions level we build frameworks for small and medium enterprises, which is also a new approach within the industry of blockchain R&D, which is so fat heavily focused on offering solutions for governments, banks and corporations”,” added Parsamov.
The Gravity Index, or the Index of Importance, takes into account such factors as: account’s stake, number of incoming transactions, account’s position in network’s cluster, cluster activity and lot of other parameters, described in Gravity’s architecture paper.
Unlike other blockchain protocols, emission happens only when the network grows in terms of new accounts, volume of transactions and connections within the network.
To date, Gravity Solutions has successfully completed deployment of the private testnet to ensure the correct, secure and decentralized token distribution powered by the Gravity protocol and the Index of Importance. With the launch of the public testnet, open to all developers and Graphene enthusiasts, the blockchain R&D firm has allocated 10% of the initial ZGV token supply to reward participants for their contributions and feedback. The testnet stage will conclude on June 20, 2018.
About Gravity Solutions
Gravity Solutions is a blockchain research and development firm that aims to create a transparent, efficient and flexible framework for Small and Medium Enterprises. According to the development team, the Gravity protocol implements the pioneering Delegated Proof-of-Importance (DPoI) consensus algorithm to ensure the fair-minded distribution of tokens to incentivize network participants.
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June 4, 2018 13:27 HKT/SGT
Topic: Press release summary
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