ZUG, Switzerland, Feb. 22, 2018 /PRNewswire/ — OpenCryptoTrust (OpenCT), a new blockchain company for the global telecommunications sector launches today.
OpenCT is disrupting the telecommunications industry via its twofold go-to-market approach. The company is positioned to be an innovative and transparent telecommunications provider within the blockchain ecosystem. OpenCT is also building a scalable, high-performance platform that provides the stability and reliability from which transformative blockchain-based applications can be designed to solve industry-specific challenges.
The OpenCT platform is based on a hybrid blockchain model, meaning it is both public and private, allowing for a diverse range of adoption, users, and clients. OpenCT’s custom-developed mining algorithm is called Proof of Duration (PoD). When used in combination with Proof of Stake (PoS), it grants miners the benefit of a far faster, more democratic, and energy efficient approach. The OpenCT Token (OCT) fuels the interactions of the telecommunications-specific blockchain. OCT acts as a service enabler which clients of the platform can use to unlock and enjoy any service offered over the platform. Most importantly, with the smart technology being used to power the OpenCT platform, the block production rate works at an exceptionally fast rate of 100,000 Transactions Per Second (TPS).
In addition to launching the OpenCT platform, the company is also introducing two inaugural applications that work to address significant telco service pain points:
- Blockchain as a Transport (BaaT): BaaT is a leading network technology that is well-positioned to become the transport service of choice for all businesses because of its highly secure and cost-effective ability to leverage the Internet by breaking down barriers that have limited popular services to a single data center, a single autonomous system, or a single carrier.
- Blockchain-Defined Wide Area Networks (BD-WAN): BD-WAN will have the unique ability to establish and tear-down logical and physical circuits of any capacity, seamlessly and transparently, thereby enabling real-time billing based solely on bandwidth usage.
“Throughout the world, data transmission, digital communication and the transferring of data from point A to point B are key functions and the lifeline that gives most, if not all, businesses and industries the ability to prosper and exist,” comments Mayande Walker, Chief Operating Officer of OpenCT. “OpenCT will provide a new process, innovate conveyance and offer an effective solution to those who have challenges with costly connectivity giving the entire telco community an option for secure, peer-to-peer financial transactions without the use of any third party or financial institutions.”
OpenCT is taking blockchain to new heights, ensuring the adoption of this industry disrupting solution is fully supportive of service providers, enterprises and carriers alike.
OpenCryptoTrust (OpenCT) and it’s “killer applications” are the brainchild of Seshaat Technology Solutions – a New York based ETO (Emerging Technology Organization). OpenCT is a robust, high performance, hybrid blockchain-based platform that enables innovative solutions in telecommunications. OpenCT provides a development environment for solving longstanding technical problems within the telecommunications industry, and will remove significant cost impacting inefficiencies in the traditional telco model that exist today.
The OpenCT platform is based on a hybrid blockchain. It is both public and private, allowing a diverse range of adoption, users, and clients.