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As part of its network buildout and project expansion, Rubix has entered into a partnership with Assets International to stimulate application development on the Rubix Proofchain and promote both institutional and private adoption of the Rubix network in a multitude of industry verticals.
Rubix uses an innovative protocol called “Proofchains” and introduces the concept of “Proof of Pledge” that, together, address network challenges pertaining to scale, cost, and privacy that restrict the efficacy of other blockchains (such as the Bitcoin and Ethereum blockchains) for powering real-world commerce at a significant scale on a decentralized network.
Rubix Partners with Assets International
“Today’s leading blockchains do not support the scale, speed, or cost needed to power transactions and commerce at a global level,” according to KC Reddy, the Founder/Chief Architect of Rubix. “With the rapid expansion of blockchain-based solutions in everything from healthcare and gaming to real estate and finance, Rubix was designed to overcome those issues. We are pleased to partner with Assets International to bring the Rubix chain to new institutional players in a wide range of industries and are excited about the new narrative that our developers, partners, and users are writing in the blockchain space.”
The Rubix network is built on a sequentially organized chain of global transactions and processes transactions in an asynchronous parallel manner, thereby bypassing the costs and overheads associated with energy-intensive mining (as used in Proof of Work) and large stakes of locked tokens (as used in Proof of Stake). This new protocol, called Proof of Pledge, is green and is less carbon intensive, which makes it a favorable alternative to other solutions that consume thousands of times more power per transaction. For comparison, 100,000 Visa transactions consume 148.63 kWh and 1 Ethereum transaction consumes 136.35 kWh, while 100,000 Rubix transactions consume…
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