WALCHWIL, Switzerland, Nov. 14, 2016 /PRNewswire/ -- Melonport AG announces its collaboration with Parity (Ethcore) and its founder Dr. Gavin Wood to launch "Melon", a ground-breaking software for asset managers. Melon will be the first decentralized application on the revolutionary Polkadot multi-chain network.
The Polkadot concept by Dr. Gavin Wood, the founder of Parity Technologies Ltd and former CTO of Ethereum, will be explained today in a big breakthrough paper. Polkadot is a multi-chain framework that supports interoperability between wildly different chains with different properties including encrypted proof-of-authority chains suitable for internal enterprise networks (– as long as they confirm to certain specifications). For the very first time in blockchain history, the different blockchains will form one large inclusive interoperable multi-chain network with pooled security.
Melon will provide the first use case — a completely decentralized blockchain infrastructure intended to give secure and user-friendly access to manage or invest in portfolio similar to hedge funds. It goes beyond normal crypto wallets providing a 'rule set' which forces certain elements into portfolios (e.g. performance calculations and trade restrictions) Melon also has a 'modular' element which allows room for opinion on matters like price feed sources, exchanges, management fees etc.
The completely open source software for competitive and decentralized asset management solutions, Melon can be found on GitHub at the following link.
Melon will initially be targeted at individuals looking to set up and manage crypto portfolios and build their track records on it. The protocol allows for investing and redeeming in portfolios and will become a way for people to discover and gain exposure to these crypto portfolios in an inexpensive and transparent fashion. As digital assets become more mainstream, this protocol is expected to be adopted by more traditional asset managers.
Dr. Gavin Wood, founder of Parity said,
"We're very excited to be embarking on this path with Melonport. As a next-generation technology which is able to bring together open chains and enterprise chains, we feel Polkadot is uniquely suited to Melon's use-case and welcome the challenge of developing this technology to fruition with open arms."
Mona El Isa, former Goldman Sachs star trader and hedge fund manager who partnered with Reto Trinkler in founding Melonport earlier this year said,
"Traditional methods of wealth preservation have offered a good service for a long time but we have also seen their limitations. My experience together with Reto's technical skills has been very complimentary. We believe that a collaboration with Parity will be very complimentary as well and will help make this idea even bigger."
Reto Trinkler, a mathematician from one of the world's leading university ETH Zurich who developed a profit-making algorithm for sports betting exchanges in C++ whilst still at university said,
"We thought about this a lot and we really want the Melon project to be an open, collaborative effort. Whilst we plan to develop a set of modules ourselves, we have structured our usage tokens in a way that will reward developers. In this way, we believe we can future proof development and collectively come up with the first ever blockchain protocol and software for asset management."
Melonport AG, the private company behind Melon will facilitate a Melon token pre-sale accepting Ether contributions that will go towards building Polkadot and Melon. Further information about the pre-sale will be available towards the end of the month.
About Melonport AG
Founded by Reto Trinkler and Mona El Isa, Melonport AG is a private company behind Melon multi-chain capable software for asset management. The company is based out of Walchwil, Switzerland.
Melonport AG is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.