The last twelve months have seen a broad spectrum of different blockchain solutions go live in the crypto ecosystem. These blockchain networks are now providing a wide range of different solutions, and all operate on different technological architecture. One of the primary concerns of the latest generation of blockchain startups is optimizing interoperability between these disparate networks.
A new blockchain startup aims to launch a new “cloud operating system” that connects different blockchain networks in order to lay the foundation for new types of cross-chain applications. The Grid Foundation is set to operate as a central hub, and is being developed by Hoopox, a leading blockchain software development platform.
In this article, we’ll explore the Grid Foundation solution and find out how it plans to work as well as examining the Grid ICO to help you determine whether it’s worth keeping a close eye on as it develops.
What Is Grid Foundation?
Blockchain based solutions operate on many different technological foundations, and use a wide variety of different consensus methods to function. The Grid Foundation, based in Singapore, is focusing on establishing a blockchain powered solution that delivers the first interoperable blockchain-based operating system that can be scaled to meet market needs.
The core of the Grid Foundation project is the development of the Grid kernel, which is structured with Blockchain systems logic. Users of the Grid kernel will be provided with an interactive shell that can be used to deploy Grid’s unique blockchain OS, or develop their own custom operating system.
Blockchain developers are then able to use the Grid OS to generate specific configurations, which will facilitate the deployment of customized blockchain dapps that deliver disparate blockchain interoperability.
The Grid solution aims to implement parallel processing in a similar manner to segmented processing to significantly improve transaction output. Instead of bogging down the Grid chain with multiple smart contracts, the Grid solution will launch side chains that are designed to hold only one smart contract at a time. Each side chain is optimized to handle a variety of different specific transaction types.
The Grid Token
The Grid Foundation plans to use Grid Tokens as a means of value transfer and storage. The Grid Token will be universally transferable across all blockchains that are connected to the Grid network, and will make cross-chain contract execution and value exchange possible.
The Grid foundation solution main chain will run on a Delegated Proof of Stake consensus protocol, while side chains can use a variety of consensus solutions such as PoS, PoW, or DPoS depending on their specific needs. The Grid Foundation has already generated $5.2 million in funding in 2017, and plans to launch an ICO to further the development process of the platform.
Grid Foundation Verdict
The Grid Foundation is one of the most promising platforms that aim to facilitate inter-blockchain operability, and is backed by a significant amount of funding and an experienced development team. If you’re interested in the ICO and potential applications of the Grid Solution, it’s possible to sign up for email updates via the Grid website.