Optherium's suite of multidecentralised cryptofinance services

bonanza-kreep (66)in #cryptocurrency • 6 years ago

The failure of cryptocurrencies to gain widespread adoption has been a cause for long-standing frustration both in and out of the cryptoindustry. Even now, when it is no longer the obscure preserve of a small community of enthusiasts, blockchain technology could not seem to break into the mainstream. The main obstacles to this are well known: few real world businesses are willing and able to accept cryptocurrency payments, the industry suffers from reputation issues made worse by scams and hacks and cryptocurrency transactions tend to take a lot of time, sharply limiting their usefulness for today's rapid-pace economy.

https://optherium.io/

Many projects have tried to resolve all of those issues, often with a particular focus on performance, hoping that sheer efficiency would eventually win over skeptics. So far, their successes have been limited. Those most focused on providing high performance, like Ripple, have been slammed for giving up decentralisation while still failing to attract many mainstream players. Optherium Labs hopes to succeed where they have failed through an innovative “multidecentralised” blockchain system. It is in the process of rolling out a number of financial tools based on this technology.

What are Optherium's products?

Optherium will use a network of several private blockchains connected to each other through Hyperledger Fabric, integrated with Ethereum's smart contracts and the IPFS storage system. According to Optherium, this system will not only provide heightened security (by means of a multisignature transaction structure), but also enable a tremendous transaction speed of more than 100,000 transactions per second. That would far exceed the current standard both in the cryptocurrency sphere and in mainstream finance. Its system will support dozens of popular cryptocurrencies and allow for the easy integration of additional services through APIs.

Building on this technology, Optherium plans to provide a comprehensive suite of “multidecentralised” financial platforms:

1. VivusPay, a multi-currency wallet accessible through a mobile app and using dynamic biometrics technology for key recovery. It would support NFC and QR payments (through its own physical card) and automatic, instantaneous currency conversion for transactions;

2. A B2P platform that would allow banks and other companies to offer Optherium's services through its own system as a white label solution;

3. Bitcrox.io, a decentralised cryptocurrency exchange that could be used for trading, as well as providing liquidity for all transactions within Optherium's system.

What gives Optherium an edge?

The multidecentralised blockchain network has revolutionary implications if it can live up to the promises made. It could drastically accelerate financial transactions and resolve two of the most serious problems dogging the cryptoindustry. By providing a higher standard of performance and security and catering to a wide array of currencies and possible uses, it could singlehandedly reshape the blockchain economy if it gains traction. It may be especially attractive for mainstream financial institutions trying to move into this sector.

Optherium Labs is registered and licensed in the European Union and is in the process of registering in the United States of America. It has a patent for its blockchain network and strong ties within the cryptocurrency community, including partnerships with multiple blockchain firms. Its founder is a serial entrepreneur who has attracted a balanced and experienced team. The Vivus Pay is already available for free in major app stores.

https://optherium.io/

ICO information

ICO dates and most details have yet to be announced. There will be a Whitelist and a KYC check.

A well-rounded effort to foster a financial ecosystem

Optherium is a new arrival to an already crowded field. Combined with the ambitious nature of its endeavour, aimed at making the cryptocurrency economy into the new mainstream, that fact presents it with some unique challenges. Could it gain traction against better-known and more established rivals in the cryptoindustry? And can it obtain the coveted and crucial mainstream support as well?

The multi-decentralised blockchain design lies at the heart of its promise. If that technology performs as well as advertised, Optherium may well overcome all of those hurdles in time and become the new standard in cryptofinance and beyond. Until that can be established beyond doubt, it would be difficult to assess its true value. That aside, it would need to attract enough support to kickstart its ecosystem. Providing more information would be the best way forward.