The blockchain and cryptocurrency scene is hot right now. It looks like everyone wants a piece of it, and there are a plethora of new experiments and technologies popping up all over the scene. Some people have only just discovered Bitcoin, its possibilities and potential applications. Other people have gone further to explore technologies like Bitshares, CounterParty or Waves and have been playing with the various token systems and smart contracts that are available on these platforms.
There are initiatives to make blockchain technology easier to use. These take the form of online wallets and block explorers, while going deeper one finds entire contract compilation systems implemented into easy-to-use websites. Enthousiastic users of cryptocurrency are also trying out decentralized exchanges like EtherDelta, the NXT Asset Exchange, or playing around with Mosaics on the New Economy Movement platform.
However, in all the activity and clamour, users are still pining for an environment that brings all these initiatives together in an understandable and secure way. Internet of Coins (IoC) wants to create this place without a for-profit motive, guaranteeing objectivity, equality and freedom of development and use of all the novel peer-to-peer financial technologies. They also want it to be an environment that people with no technological experience can use, and feel comfortable with.
Internet of Coins is geared to being such an environment, and its development has been underway for some time now. The foundations for a decentralized financial web have been set down at its core, and its mission and objective is to make sure all the different platforms, ecosystems and technologies that are out there become accessible to anyone and everyone.
To boost development of its easy-to-use hybrid asset technology, and make it available sooner, Internet of Coins is organizing a crowdfund to ensure further integration of blockchain finance technologies. As a perk to invite people to start using the environment they are giving out hybrid tokens that run on multiple blockchains simultaneously, merging their innovations and technological power.
Hybrid is a unique token, as it functions as a diversification portfolio of multiple blockchain technologies, and spreads risk of failure of any one of these systems. At the same time it facilitates decentralized trade on all the underlying platforms and has a focus on creating liquidity. This kind of experiment has not been done before in the blockchain arena, and is sure to bring about new cross-blockchain ideas and experiments.
So where is this all going? They are sailing for a new horizon, where anyone can use blockchain technology, crypto tokens and deterministic transactions, without having to explicitly think about how to do it. Using advanced distributed ledger technology should be available for everyone, whether it's you, me, your parents or grandparents. It should be as easy as sending an e-mail. And seeing the developments at Internet of Coins, that's where it looks to be going.
The Internet of Coins project is proud to announce a joint cooperation effort between programmer Aymeric Vitte and the development team of Internet of Coins. After a technical review of the latest developments in distributed networking technologies, the Peer Shared Mesh technology pioneered by Vitte came out as the foremost candidate and his protocol specifications are seen as an excellent basis for implementing our own network topology. In this way, Vitte's ground-breaking work on distributed network technology will be extended and implemented into the cryptosphere.
Internet of Coins developer Amadeus de Koning explains: "The partnership with Vitte is an important step in realising the ambitious goal that Internet of Coins has set for itself, which is to unite cryptocurrencies in a fluid exchange network, without reliance on trusted third parties, such as exchanges, that at present form key points of failure in the crypto ecosystem. We believe exchanges have validity as cryptocurrency marketplaces, but as stores of wealth they have quite a poor track record. Therefore we see a need for supplemental mechanisms of exchange that are less vulnerable to trust issues, yet able to cross the boundaries between various blockchains."
Aymeric Vitte, lead developer of the Peer Shared Mesh (peersm) technology and CTO at NAÏS, comments: "I am happy to see the adoption of the peersm technology in a cryptocurrency application. This will form another example of a field in which the reliable and open standards of peersm can be applied. We will be working together with the Internet of Coins to integrate, modularise and further develop the peersm technology stack."
Peer Shared Mesh technology incorporates and builds on current best practices concerning peer based network architectures, that have proven their effectivity both in industrial applications and on the internet in general. Among these are the Tor technology developed by both the United States Navy and non-governmental actors, as well as Torrent network protocols, originally developed by Bram Cohen. Torrent traffic powers up to one third of the internet as a whole, as such it is a proven highly effective, robust and reliable technology, making it an obvious choice as part of the network architecture for Internet of Coins. However, Peer Shared Mesh technology expands these horizons considerably, offering effective improvements over existing practices, specifically in minimizing client-side requirements.
"Peer Shared Mesh technology is revolutionary in its approach, in that it delivers maximum portability and power of peer-based networking for an amazing array of devices, allowing flexible delivery of our services to clients in most divergent circumstances. Since the focus of Internet of Coins is truly global, the ability to deliver to clients in less than ideally networked situations is of the essence, especially in emerging markets and developing nations" remarks Robert de Groot, head of marketing operations.
Internet of Coins will build on the peer to peer technologies that Peer Shared Mesh technology offers, while supplementing them with protocols to offer users full integration of key cryptosphere components, allowing them to easily arrange payments, buy things online and exchange between different digital value systems as their situation demands.
Joachim de Koning, lead developer for the Internet of Coins states: "A peer-to-peer, modular and consolidated design is our objective for Internet of Coins. The implementation of the Peer Shared Mesh technology we are testing proves that it is a solid contender to form the networking layer between IoC nodes. We are enthousiastic to see Vitte's work on a groundbreaking communications protocol and are pleased to announce that we will be integrating it into the Internet of Coins."
For more information about Peer Shared Mesh technology, visit http://peersm.com
To read about the Internet of Coins project, visit http://internetofcoins.org