It may sound clichéd, but the world we live in is rapidly changing, and innovation has influenced every part of the human race. With a quick look, one can see that our age has undergone rapid developments which can’t be compared to any of the mechanical advancements at any point recorded in human history. With the inception of the blockchain technology, innovation has really been encouraged all over the world and has so far been of great help to people. In recent years, after the advent of the blockchain, a noteworthy number of blockchain related activities including development and integrations, have been exhibited, each with its exceptional highpoints and functionalities.
Nonetheless, a large number of blockchain projects thrusted during the recent years, exceptional applications for everyday life that could benefit all remains scarce. This prompted the launching of the fourth blockchain generation developed by SOOM TECH which is a Blockchain-as-a-benefit stage intriguingly meant for both traditional and advanced mobile phone utilization.
What is SOOM TECH?
The faction behind the development of SOOM TECH have the goal and vision to revolutionize the blockchain ecosystem by making it open to everybody, SME's as well as bigger companies and establishments from any industry by adopting the prevalence of the cell phone in modern day life, adaptability, straightforwardness and wealth as the center of their innovation.
The SOOM TECH initiative (proof-of-Group-stake) is not just based on making portable mining a win, but rather making the technology a channel for high performance, secure and handy blockchain based cell phone applications.
The new fourth generation Blockchain
The fourth blockchain innovation was created by SOOM TECH which is located in Singapore and is under the SOOM company. The SOOM innovation is set up in Switzerland.
The fourth generation blockchain is a newly enhanced blockchain that works as an administration stage particularly envisioned to procure a solution for associations that has a ceaseless need to efficiently use the blockchain huge highlights without having to stress over creating, keeping up and refreshing the backend of a mind confusing system of nodes.
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Soom’s Blockchain highlights
- Mobile wallet mining
- Grouping calculation
- Verification of-Transaction
These unique features mentioned above engage the stage to faultlessly boost multi ventures, such as PDA based undertakings and ordinary activities from a vast scope of businesses, money administrations, genuine domains, payments systems and client administrations.
Challenges in the existing blockchain system
The inception of digital money ecosystem additionally brought about the advancement of bitcoin and Ethereum. Nevertheless, these cryptocurrency giants although hold a positive record in the cryptographic money community however shockingly still have some challenges which prevent it from being accepted worldwide and this make it complicated for a few organizations to mix in. Such challenges include:
- Slow transactions speed: It takes too much for the transactions to be processed running on these blockchains.
- Cases of online extortion: poor safety procedures in place sometimes prompt digital assaults and hacking. Companies discover it extremely complicated to adopt to the already existing blockchain innovation since these companies find it really hard to implement them, so might not be able to install the necessary security on their platform.
Solutions Soom offers
The most exceptional highpoints of this new ecosystem integrate gathering calculations, a multi-square structure and smart examination of cell phones, allowing administrations to help a variety of certifiable utilization situations. Blocking will strengthen ventures from the monetary business, supply chains, media communications etc. In addition, this platform will equally have basically higher rates, enhanced security highlights, and considerable exchange costs.
Moreover, SOOM has harmonized two fascinating agreement calculations that will allow portable mining. Two known as POGS (Proof-of-Group-Stake) and POT (Proof-of-Transaction,) are intended to giving the ultimate blockchain experience to all smartphone clients around the world.
Aside from the customary double security system, SOOM built in an extra level of security to relinquish hacking cell phones during trading exchanges. This extra security is possible by making a private gathering key, which is refreshed after each new square is made.
In conclusion SOOM is an answer for scalability issues of the current blockchain innovations, by making mobile mining possible and streamline advanced mobile phone based blockchain app.
For more information about SOOM, kindly click on the links below;
Website: http://www.fourthblockchain.org
Telegram: https://t.me/soomofficialkr
Whitepaper:http://www.fourthblockchain.org/download/soomwhitepaper_en.pdf
Medium: https://medium.com/@soomblockchain
Facebook: https://www.facebook.com/soomblockchain
Steemit: https://steemit.com/@soomblockchain
Author's Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1817986;
Soom wallet: MKwELRw7gWSnFdC1rpeGdBXubnXJ5PqHjG