SINGAPORE, May 7, 2019 /PRNewswire/ -- YAO Network (https://yao.dev), a universal wing of the future decentralized ecosystem, is launching an open blockchain infrastructure platform based on BaaS 3.0 (blockchain-as-a-service) design concept. The network's architecture makes it easy for enterprises and developers to design, build, and deploy their own blockchain applications in the cloud environment.
"Our goal is to build an open blockchain infrastructure platform from which tech communities and developers can better serve commercial applications," says Walter Komarek, cofounder. "The approach creates triple-win outcomes."
Obstacles to Progress
The demand from different blockchain players continues to grow. There are current weaknesses pertaining to the performance of fundamental technology, commercial applications, and supporting infrastructure for communities. There are issues with performance, scalability, security, and privacy that have hindered the development of blockchain tech.
The scarcity of development toolkits and learning platforms prevent wider and deeper penetration of the tech. Moreover, developers often lack knowledge of traditional industries. These create challenges in exporting a community's technology and building a functional ecosystem.
BaaS 3.0 (Blockchain-as-a-Service)
Blockchain-as-a-Service is technology that enables clients to use cloud infrastructure to create, host, and utilize their own blockchain solutions. BaaS enables organizations to deploy supplier services to create and access decentralized applications (dApps).
YAO Network is based on the design concept of BaaS 3.0. Through a blameless governance system and incentive mechanism, the network aims to continuously nurture new blockchain projects, as well as, build a platform of multiple blockchain networks that integrate cloud and decentralized computing.
"YAO Network is a next-generation public infrastructure platform. It works as an ecosystem entry, computation hub, and service market for blockchain communities," says cofounder Walter Komarek. "YAO will connect enterprises, developers, communities, and industry upstream and downstream participants to provide a full range of blockchain services."
- Open blockchain technology service platform
- Online and offline collaborative community
- Blockchain cloud service market
- Diverse tech architecture and self-driven content ecosystem.
The network serves as platform of entry into the blockchain world, through which developers can have access to mainstream blockchain networks. YAO Network provides related information for blockchain projects such as technology parameters, community information, developers' guidance, dApp quantity, token value, and other key info.
YAO Network also provides supportive access to tools and technology interface that facilitate the development of commercial applications. It can meet the demands of some consortium blockchains, as well as, private blockchain commercial applications by helping developers to quickly build an on-demand blockchain network.
As a hub, the network provides different components at the system level. These include interchain interoperability, distributed identity, off-chain oracles, incident feedback mechanism, and others. These components improve the interoperability and scalability of a blockchain network.
Service providers can also create cloud services, and sell these to terminal users through a visualized interface.
Leadership Team and Partners
YAO Network was founded in January 2019 by a team of developers and technologists. The Malta-based venture is led by cofounder Walter Komarek, chief executive officer of Angel Investment, and former founder of Forbestelecom. The leadership team includes Dr. Neil Wasserman who specializes in applying blockchain architecture, strategy, and emerging technologies to traditional industries.
Mr. Miguel Forbes joins the advisory team. He founded the Forbes.com brand, and possesses experience in publishing, foreign markets, leadership, and entrepreneurship. Moreover, a Nobel Prize winner will join YAO Network as member and/or advisor.
The firm's institutional partners include Amazon Web Services, Ethereum, Huobi, George Mason University, and Columbia University, among others.
For updates, visit YAO Network on these channels:
SOURCE Yao Network