Platform provides low-cost data security and NFT minting for industries ranging from supply chain to insurance to fine art.
— Elvis Rodrigues | LaneAxis’ Lead Engineer
CAMANA BAY, CAYMAN ISLANDS, November 15, 2022 /EINPresswire.com/ — AXIS Token International, a collaborative partner of LaneAxis Inc., the industry’s first blockchain-powered Direct Freight Network, today announces the launch of its Layer 2 (L2) blockchain, AXIS Chain. Securing and streamlining data storage for everyday businesses through blockchain is the new frontier of the technology world. AXIS Chain offers a wide array of real life applications empowering companies to leverage blockchain technology and Web3. It’s key that businesses move away from traditional and vulnerable single-point repositories for information storage to an immutable ledger, the next-gen 3.0 technology.
The newly developed AXIS Chain provides an advanced network using the Lachesis Consensus Algorithm (LCA) protocol for added security and an L2 network for increased speed of data storage and transactions per second. The energy-efficient Proof-of-Stake protocol secures the network, which allows the staking party to become validators and assist in providing control and security to the AXIS Chain. Information input into the AXIS Chain is stored within the blocks, which are then placed within nodes and thus validated and linked together to secure data within each block. The AXIS Chain follows top security methods and is a fast L2 solution, making blockchain and web 3.0 technology accessible to businesses of all sizes and across numerous industries.
”Our collaborative partnership agreement with ATI is another massive step forward in our mission to eliminate inefficiencies, lower costs and build a next-gen tech foundation for the next century,” says Elvis Rodriguez, LaneAxis Director of Engineering. “The aggregation and protection of company and industry data is critical to our success. The ability to build new decentralized apps (dApps) on AXIS Chain is also a key benefit for developers seeking to create novel and useful applications.”
AXIS Chain’s decentralized network aims to render traditional databases obsolete by utilizing “oracles” which connect the L2 blockchain to external systems and other blockchains, providing critical interoperability and enabling the AXIS Chain to execute smart contracts based on real-world inputs. Initial applications for the AXIS Chain focus on the $15 trillion global supply chain, the multi-trillion dollar insurance sector, and the physical and digital art sector.
Digitizing documents is a fast and straightforward process. Once accepted and adopted, AXIS Chain becomes an invaluable tool to solve security/privacy issues via its immutable ledger and smart contract that prevents fraud or data manipulation.
AXIS Chain delivers numerous features allowing users to utilize the chain for a variety of purposes :
-Security: Store information on the chain with validators securing all information on the chain.
-Scalability: A custom-made blockchain with vast capabilities to scale as the network usage and activity rises over time.
-Increased Transaction Throughput: Greatly increased transaction speeds (Transactions Per Second or “TPS”) with significantly lower transaction (gas) fees
than a typical Layer 1 blockchain.
-Staking: Validators assist in increasing the security of the chain by staking the AXIS token, gaining staking rewards at the same time.
-NFTs: Mint NFTs for a variety of purposes, including validating Certificates of Insurance and elevating the finest artwork in the world into digital – and
irreplaceable – masterpieces.
-Developer Experience: Build on AXIS Chain using your favorite tools and preferred developer language.
-Decentralized Data Storage: Store data on the AXIS Chain with significantly reduced environmental impact (utilizing energy efficient Proof-of-Stake
consensus mechanism as opposed to energy wasting Proof-of-Work consensus mechanism.”
-Compatibility: Built with the same coding language as Ethereum – AXIS is compatible with all existing Ethereum DEXs, projects and protocols.
“AXIS Chain’s overarching goal is to provide the infrastructure and framework for companies to move away from traditional data storage systems and into a decentralized environment, providing safety and security through the Proof-of-Stake consensus protocol,” adds Rodrigues. “The more businesses that build on the chain, the more secure it will become – and the safer users’ documentation will be.”
The AXIS Chain will be limitless in its ability to build new dApps and provide businesses and individual users with new opportunities unbound by traditional technological restraints. To learn more, visit https://axischain.network/
ABOUT AXIS TOKEN INTERNATIONAL
AXIS Chain is a public, Layer 2 blockchain focused on bridging the gap between real world business challenges and next-gen Web3 tech that decentralizes, democratizes and immutably secures documents and data – to name just a few features. Forged out of the need to provide cost effective solutions for document integrity, data immutability, and smart contract automation – AXIS Chain is the premiere Web3 platform built to strengthen and secure business processes for companies and industries across the globe. AXIS Token International (ATI) is a private company based out of the Cayman Islands.
On behalf of AXIS Token International
+1 (315) 395-1877