Chaineum, a French corporate financial advisory firm in ICOs and STOs, with a strategic focus on both its clients’ business and blockchain technology, announced today that after 2 years of development and proof of concepts (POCs) for different industries, Chaineum Labs, the company’s blockchain services division, has customized its object-oriented private blockchain ‘SEGMENT’ to support STO platform use.
SEGMENT is an “object-oriented” blockchain technology ran by Chaineum Labs and designed to make any connected object a “full node” equipped with wallets, able to conduct transactions by consensus and offer a dynamic tool for the management of created tokens (utility and security).
Three major concepts summarize this blockchain technology:
– Secured with cryptography which guarantees reliability and trust;
– Indestructibility (it would be necessary to falsify all the machines-nodes verifying it);
– Historical sequencing of blocks, each block holding data (HASH) linking it unfalsifiable to the previous ones.
The great majority of “classic” Blockchains (Bitcoin, Ethereum) are built according to these three principles. So where’s the problem?
1. Blocks are created by a few groups of people (miners) who are paid to do so;
2. The computing power to create these blocks requires intensive equipment (mining farms);
3. The chain expands exponentially as blocks are added (Bitcoin is around 200 gigabytes);
4. The calculation time/job (POW, POS) to create a block and validate a transaction may take several minutes;
5. Slow learning curves, the complexity of protocols and coding languages delay adoption.
SEGMENT aims to provide solutions to these 5 points:
1. Any connected machine is able to participate in consensus / validate a transaction, even an IOT sensor;
2. Each connected machine only holds part of the global blockchain (Sharding) according to its technical capabilities;
3. By updating the blocks in a completely secure way, the data volume held by each machine remains constant;
4. By verifying a transaction through consensus before writing the information, the average transaction time is 3 or 4 seconds;
Below is a summary of how SEGMENT Security Tokens work
SEGMENT Security Tokens (SST) offer a mobile application allowing investors instant and secure access via smartphone to their wallets and tokens. It also offers the possibility of selling and buying other tokens on the primary or secondary market, or even to take options on operations in structuring and preparation stages before their launch on the market.
Chaineum Labs is also working on SST versions dedicated to bonds, real estate, artworks, etc. SEGMENT will be offered in open source version in the coming months.
Worth nothing, Chaineum is launching its own fundraising (STO) in a few days.