TL;DR: Reltime AS, a provider of Web3 platform services, has successfully conducted a trial using 5G smartphone as trusted node validators in its Layer-1 Proof of Authority (PoA) Blockchain. This groundbreaking development brings the potential for secure decentralized applications, enabling a more interconnected digital future.
Reltime AS Successfully Trials 5G Smartphone as Node Validators for L1 Blockchain
Reltime AS, a provider of Web3 platform services, has successfully trialed the use of 5G smartphone as trusted node validators in its Layer-1 Proof of Authority (PoA) Blockchain. This development allows for secure decentralized applications (dApps) and paves the way for a more interconnected digital future.
The blockchain platform created by Reltime can accommodate unlimited tenants, with each tenant utilizing 5G mobile handsets as node validators and Decentralized Autonomous Organizations (DAOs) to manage asset ownership.
By leveraging the high-speed data transfer and security capabilities of 5G networks, Reltime has built a scalable blockchain infrastructure that harnesses the ubiquity of mobile phone technology. This means that anyone with a 5G smartphone can participate in the PoA consensus mechanism, making decentralization truly global. The successful pilot of this technology enables businesses to create unlimited tenant environments with non-custodian wallets across different regulatory frameworks and markets.
The company said that the breakthrough is particularly valuable for telecom operators as it allows for more efficient utilization of existing infrastructures in the Web3 space. In Reltime’s PoA blockchain, only authorized nodes can validate transactions, ensuring a high level of security, which is crucial for the telecom industry, which handles large volumes of sensitive user data.
This development also opens up opportunities for innovative decentralized applications such as peer-to-peer transactions, decentralized cloud storage, and IoT connectivity, leading to new services and revenues. The role of the handset as a node validator brings decentralization to the individual device level, reducing latency and increasing transaction speeds, thereby enhancing the overall user experience.
Frode van der Laak, the CEO of Reltime, emphasized the importance of this innovation in establishing a new operational framework for enterprise adoption of Web3.
Frode mentioned that Reltime has integrated a robust identity protocol into its platform, ensuring the security and trustworthiness of each mobile phone node, which is crucial for serving the multi-tenant ecosystem.
By making blockchain technology more accessible, usable, and global, Reltime is reshaping the future of blockchain and transforming how individuals and organizations utilize this technology, Frode said.
The success of the pilot project sets the stage for diverse applications that can fully leverage the power of a secure and distributed network. DAOs and other ecosystem participants can now tap into the potential of having numerous node validators, decentralizing and securing their platform operations.
Reltime’s advanced Web3 platform, with its Layer-1 Proof of Authority Blockchain and zero transaction and gas fees, is revolutionizing the financial and digital services industry. The platform offers various applications and features, including non-custodian wallets, payment solutions, digital fiats, and decentralized identity, driving the next generation of digitization in areas such as supply chain management, tokenization, asset ownership, and global trade.
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