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YAO Network: The Blockchain Paradise Developers Have Been Waiting For

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Permissioned blockchain? Private blockchain? Public blockchain? Fret not for YAO Network accepts them all. YAO Network is a cloud service paradise for new blockchain projects looking for a community to nestle in and make their homes there. By integrating cloud computation with decentralized computation, the YAO Network is able to support computation eco-platforms of multiple blockchain networks, maximizing the utility of all participants while helping projects to achieve their technological targets and generate value.

The YAO Network was built for a vision: to benefit developers and to help enterprises achieve much more, freeing the successes of blockchain technologies for all to enjoy. This vision grounds the design of YAO Network’s architecture as the platform seeks to establish a comprehensive service and utility computation platform where Pareto optimality is achieved amongst developers, enterprises, and overall public utility.

Like many other blockchain platforms out there, technology remains a key factor in determining a platform’s functionality. The YAO Network certainly has a strong pillar of support in its robust technical infrastructure to achieve its goals.

1. YAO Network integrates multiple computation paradigms in utility computation.

The YAO Network platform effectively combines three computational paradigms, cloud computing, decentralized computing and encrypted computing, to meet the demands of different applications and create maximum computation utility.

Cloud computation has been gaining massive popularity as a computational model in many enterprises and the public. The advantages of cloud computation are numerous. It saves cost for enterprises, developers and the public while offering flexible workload deployments, which enhances the overall utility of both individuals and society.

Recognizing the advantages of cloud computation, the YAO Network platform makes cloud computing the only carrier of all service and computation units in the blockchain. Cloud computing is not only utilized for deployments and encrypted computation of centralized applications, but also widely applied in decentralized blockchain networks.

2. YAO Network standardizes decentralized and centralized computation units based on cloud computation.

Different computation units have been designed for various types of applications to promote the usage of blockchains in the public domain. YaoLet is the solution designed by the YAO Network for decentralized applications, while BuildPack is its equivalent for centralized applications designed based on PaaS. The entire architecture is rested on these two solutions alongside other services. As YaoLet and BuildPack are both multiplexed; developers and service providers can participate in the sharing of YaoLet and BuildPack and reap the rewards through corresponding YAO Network reward system.

3. YAO Network allows softwares to define blockchain through topological orchestration and virtualization.

Most computations are no longer an isolated and individual computation unit; they have complex interconnections that are unified by a topological structure. This combination of computational units is achieved through topological orchestration.

On one hand, new services and components can be combined and orchestrated by existing computation units. On the other hand, various infranets in blockchains can also be orchestrated to establish corresponding nodes and services. Most blockchain architectures like YAO Network take on a modularized approach where interledger general blockchain protocols are made viable through plugging and unplugging every component and service as well as modularizing operations. The blockchain network becomes the virtual superposition of peer-to-peer networks, making it possible to define new blockchain network models and service models through virtual and abstract orchestrations.

4. YAO Network supports multiple blockchain network architectures and paradigms including public blockchains, permissioned blockchains and private blockchains.

The blockchain network within YAO Network supports three types of blockchains, namely public blockchain, permissioned blockchain and private blockchain. They can be broken down into shared and exclusive nodes based on the extent of its isolation. Enterprises and developers can build on shared blockchains or create their own exclusive blockchains on the YAO Network platform. Another alternative would be to classify the blockchain network based on its testnet and mainnet, and their applications.

5. YAO Network maximizes utility of developers, enterprises and the general public.

YAO Network is a one-stop blockchain service platform for blockchain service consumers, developers and enterprises to share innovations both in public and private. One of the biggest hurdles blockchain has yet to overcome is its low adoption rate and thus the YAO Network has provided blockchain PaaS services for developers to utilise and a platform where they can release their blockchain products directly to blockchain service providers. This forms a healthy supply and demand ecosystem as iterations of blockchain products are incubated or eliminated based on practicality and impact. Those that are proven viable will unite and form a larger blockchain ecosystem and platform.

Developers even earn the chance to make some profits through the YAO Network. The network rewards developers when their creations are utilised by others. In addition, the YAO Network has three specific function modules in terms of product modality: blockchain marketplace, enterprise aggregation and solutions, and developer community. This forms a trinity that works together to serve both developers and enterprises. Driven by supply, YAO Network solves the scarcity of blockchain comprehensive services by connecting and bridging between developers and enterprises, in order to establish a healthy and organic ecosystem where all participants have maximum utility within the system.

6. YAO Network has high inclusivity in the system.

A well-designed architecture should have open interfaces. Every layer delivers its own functions, and is connected to each other through the same cross layer interface. The YAO Network system is designed based on important principles including openness, security, technology neutrality, verifiability in the future, interoperability, scalability, modularization, manageability and dependability, to achieve inclusivity in the system.

YAO Network embraces existing and future blockchain applications and is committed to establishing a comprehensive computation platform with multiple blockchains, multiple computational paradigms and integrated utilities.

 

SOURCE YAO Network

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Chainalysis Launches First Actionable Real-Time Alerts for Suspicious Transactions Across 15 Cryptocurrencies

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Chainalysis, the blockchain analysis company, today announced the launch of suspicious cryptocurrency transaction alerts in Chainalysis Know Your Transaction (KYT), the real-time anti-money laundering (AML) compliance solution for monitoring cryptocurrency transactions. It is the first compliance alerts solution available across 15 cryptocurrencies.

Chainalysis KYT alerts are designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by helping compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources.

“As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices,” said John Dempsey, VP Product, Chainalysis. “Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.”

Chainalysis KYT has always provided real-time transaction monitoring for large volumes of cryptocurrency activity to identify high risk behavior, and now alerts are generated whenever a transfer involves a risky counterparty and crosses a value threshold. Alert levels include Severe, High, Medium, and Low, and are based on factors such as category, service, direct versus indirect exposure, direction of funds, and amount. Alerts are available for all 15 cryptocurrencies supported by Chainalysis, including Bitcoin, Ether, Bitcoin Cash, Litecoin, and top stablecoins and ERC-20 tokens such as Tether, Maker, and Dai, with additional cryptocurrencies coming soon.

With alerts functionality built directly into the user interface and API, cryptocurrency businesses and financial institutions can keep track of, investigate, or take action on risky transfers. Additionally, customers can customize risk parameters based on their own business policies to help allocate resources accordingly.

“As a New York Trust company we are required to monitor transactions on and off our platform,” said Michael Breu, Gemini’s Chief Compliance Officer.  “Tools like KYT alerts, which provide real time and ongoing blockchain analysis, coupled with Gemini’s own compliance policies, help us meet our regulatory obligations.”

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For the First Time, Huobi Token Is Now Usable as an eCommerce Payment Method

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Huobi is pleased to announce that Huobi Token (HT) can now be used to purchase art, apparel, hardware, event tickets and more from the eCommerce and crypto news platform FomoHunt. This marks the first time HT can be used for eCommerce by the general public.

While HT can be used for all merchandise on the site, offerings at FomoHunt also now include exclusive Huobi-branded merchandise.

“Our partnership with FomoHunt allows us to do two big things at once,” said Helena He, Head of Global Operations. “First, it’s a big step in expanding HT’s usefulness outside our direct ecosystem and making it more accessible to the general public. Second, it gives members of our community direct access to Huobi-branded merchandise, which is something many have repeatedly been asking for.”

FomoHunt co-founder, James Lawrence, expressed optimism about the new partnership.

“Being able to work directly with Huobi is an amazing opportunity. We are working together to allow our community users to use Huobi Token and make real-world purchases for clothes, art, FomoHunt subscriptions, event tickets, and even mining hardware. FomoHunt looks forward to future collaborations with Huobi.”

Huobi has made developing HT a priority over the past eight months. For example, Huobi Prime and Huobi FastTrack, Huobi’s innovative premium coin launch platform and its new coin listing program, which respectively launched in March and June this year, both use HT as their main token of exchange. In July, Huobi implemented a series of tiered trading fee discounts for users based on HT holdings.

Founded in 2018 as an alternative to the disparate information found across the internet, FomoHunt is a discovery portal into the world of blockchain projects, founders, events, products, and news. FomoHunt aims to provide an easy and streamlined portal for blockchain newcomers and experienced veterans with unrivalled project information and up to date information.

To learn more about Fomohunt, go to: https://www.fomohunt.com/marketplace/

To learn more, contact media@huobi.com

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Fiat Withdrawals Available With TUSD and PAX

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Stablecoin partners facilitate fund transfers to personal bank accounts easily.

Crypto.com, the pioneering payments and cryptocurrency platform, is pleased to highlight two fiat withdrawal solutions via TrueUSD (TUSD) and Paxos Standard (PAX) stablecoins for Crypto.com App users.

Crypto.com has recently entered a partnership with TrustToken and Paxos Standard for Crypto.com Chain, which will allow merchants to get paid in USD.

As an extension to this partnership, Crypto.com App users can now redeem their TUSD or PAX 1-to-1 against USD, which will be wired directly to their personal bank accounts. This is an appealing use case for App users who want to monetize their crypto gains, holdings, or Crypto Credit loans.

To redeem stable coins against USD, users can do so via the TrustToken or Paxos Standard platform. For further instructions, please click here.

Kris Marszalek, Co-founder and CEO of Crypto.com said, “The team is committed to making efficient fiat withdrawal available to customers. As we work on more traditional solutions, we are pleased to share two important supporting solutions from our stablecoin partners.”

Tory Reiss, Co-Founder of TrustToken said, “We are excited to be deepening our collaboration with the Crypto.com team. Finding a reliable way to move fiat on and off their platforms continue to be a headache for crypto companies. At TrustToken, we are continuing to double down on this use case by building out strong compliance practices and adding additional payment rails.”

Scott Simpson, VP of Strategic Partnerships of PAXOS said, “We believe that building a vibrant ecosystem for PAX is crucial for increasing use in consumers’ daily lives. Our partnership with Crypto.com makes it easier for consumers to benefit from their crypto holdings and were excited to make this important functionality live.”

DISCLAIMER: THE STABLE COINS AND USD REDEMPTION IS HANDLED AND PROCESSED BY TRUSTTOKEN OR PAXOS STANDARD, CRYPTO.COM IS NOT RESPONSIBLE OR LIABLE FOR ANY DISPUTE ARISE FROM SUCH ARRANGEMENT.

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