Ties Network, found online at Ties.network, is an Ethereum-based business platform that promises to help improve organizational efficiency. Here’s our review.
What Is Ties Network?
Ties Network is an Ethereum-based business platform “where great minds and teams connect”, according to the official website.
The platform is built on Ties.DB, a distributed and decentralized public database with fully integrated search across all data on Ties.Network. Together, these two standards claim to “form new standards of trust within the business community.”
Some of the key uses for Ties.Network include being able to communicate and transact with industry leaders. Users can use the platform to interact with top-rated professionals, collaborate on projects, receive counsel from industry experts, and strike deals through smart contracts.
Meanwhile, as an IT product, Ties.DB enables Ties.Network to store, search, and modify large amounts of dynamic data. It’s a new generation public and decentralized NoSQL database that can provide similar benefits for other decentralized applications (DApps).
How does Ties Network Work?
Ties.Network is based on the Ethereum blockchain. The platform makes it easier to find, collaborate, and transact with professionals. The rating system allows users to connect with proven specialists, while smart contracts allow users to create teams and projects in a secure way.
Organizations can even launch ICOs through Ties.Network. They can consult with ICO experts through the platform, then launch an ICO.
Meanwhile, the Ties.DB technology platform serves two key functions. It allows Ties.Network (and any other decentralized project or DApp) to store, search, and modify dynamic data. And second, Ties.DB is fault-tolerant, leading to a more secure B2B solution for businesses looking to earn money from providing access to their servers.
Here are the functions of the platform broken down in a way that’s a little easier to understand:
Ties.Network uses the Ethereum blockchain to record transactions on the blockchain; the network also uses Ethereum’s smart contracts system, and in the future, they could use RChain.
The Ties.Network business platform offers decentralized endorsements and voting, making it a fast way to find a business partner and perform due diligence on a crypto-project with the assistance of an expert advisor.
The Ties.Network has a decentralized database (Ties.DB) that is based on a unique, distributed, public, decentralized database into which any independent node can add and remove content while ensuring that content is Byzantine fault tolerant.
Some of the key features of the Ties.Network’s platform architecture include:
This is a unique distributed, decentralized, public database where any independent node can add, remove, and perform advanced searches through content. The database is Byzantine-fault tolerant.
Ties.Network uses the Hyperboria network to solve anonymity and privacy requirements.
This is an app that supplies the user interface, stores keys, interacts with the blockchain and TiNode nodes, and performs other critical functions. Other clients can access the same functions via chat protocols.
As mentioned above, Ties.Network is based on the Ethereum blockchain. All transactions in the platform are based on Ethereum and Ethereum smart contracts.
Like most blockchain technologies, decentralization is an important feature of Ties.Network. The network itself is a decentralized network of servers (nodes). Client applications connect to nodes within the network.
At the moment, various blockchain versions can be used within the Ties.Network. Ethereum is used in the initial stage of the network, although in the future, the company plans to add the ability to transfer to other blockchains – like RChain.
The Ties.Network platform is resistant to malicious activity of the participants. That means it’s protected from the Byzantine Generals Problem and Sybil attacks, among other vulnerabilities. Obviously, another advantage is that the blockchain intrinsically resists the intrusion of a single actor in the system.
One of the key innovations of the Ties.Network is that it can store data and conduct a search through a large amount of structured data.
Customizable And Scalable:
Ties.Network claims to be built for expansion. The platform supports third-party applications (like DApps) and provides a new model for building successful and massively scalable applications.
Overall, Ties.Network is a multi-layered platform representing a decentralized net of servers (i.e. nodes) all connected to Ties.DB and the blockchain. Every node is connected through the Hyperboria network in order to provide speed, anonymity, and end-to-end encryption on all communications performed within the Ties.Network network.
Who’s Behind TiesNetwork?
Ties.Network is led by Founder and CEO Alexander Neymark. He has significant experience in launching and developing financial services. In banks and telecom companies. Other key members include Founder and CTO Dmitry Kochin, PhD, who has been working as a tech entrepreneur since 2005.
The company is headquartered in Amsterdam. Ties.Network was founded in 2017.
Ties Network Conclusion
Ties.Network is an Amsterdam-based company creating a blockchain technology platform based on Ethereum and Ethereum smart contracts. You can learn more about the platform and the team behind it by visiting the company online today at ties.network.