What is Soom Project?
4th Blockchain is Blockchain-as-a-Service platform designed for both conventional and smart phone usage. 4th Blockchain is developed by SOOM Tech., established in Singapore and governed by the SOOM Foundation, established in Switzerland.
SOOM 4th Blockchain Ecosystem
This document gives a detailed overview of the SOOM 4th Blockchain platform. 4th blockchain is technology which can increase security and processing speed by adding space and time concept to existing blockchain. The purpose of the document is to extensively describe 4th Blockchain’s technical innovations as well as SOOM TECH’s vision, structure and short to long-term business strategy.
4th Blockchain is a Blockchain-as-a-Service platform designed for both conventional and smart-phone usage. 4th Blockchain is developed by SOOM TECH, established in Singapore and governed by the SOOM Foundation, established in Switzerland.
SOOM TECH’s innovative consensus algorithm, named Proof-of-Group-Stake, not only makes mobile mining possible but also opens the way to a multitude of performant, secure and practical Blockchain based smartphone applications.
SOOMPAY, international in-store mobile payment provider, will be the first enterprise to take advantage of 4th Blockchain platform by releasing an all-inclusive crypto mobile payment solution in mid-2019.
Although in the early development stage, the versatility and security of 4th Blockchain platform already attracted a variety of other projects from multiple countries and industries including financial services, real estates, telecommunication, logistics and education. Indeed, the platform’s technical innovations make it possible for SME’s as well as larger corporations and institutions from any industries to develop their own projects while benefiting from state-so-the-art 4th Blockchain’s features, maximum scalability and foolproof security without the cost and burden of creating a Blockchain from scratch.
By combining blockchain and time/space concept, 4th Blockchain benefits from increased processing speed and foolproof security.
The time and space algorithms use values of time and space for time stamp and live positioning.
512 Node maintenance
Securing time is a common feature for storing data in a blockchain.
With purpose to make mobile mining possible, SOOM TECH designed two innovative consensus algorithm named Proof-of-Group-Stake(POGS) and Proof-of-Transaction (POT) consensus algorithms. Based on these algorithms, 4th Blockchain core will be operating on P2P basis with widely increased speed. In addition, these consensus algorithms also speed up transaction.
POGS (Proof-Of-Group Stake)
POGS consensus algorithm is developed by SOOM TECH, it uses Grouping technology, where each node is part a Group.
Proof-Of-Transaction is a consensus algorithm to encourage transactions. The idea is to provide to nodes that performed a lot of transactions within a short time the opportunity to create a block.
Dual Security Improvement
Security is a critical part of blockchain ecosystems. Most of the time, hash functions prevent hacking on the blocks but there are still many instances where exchange platform had been hacked.
4th Blockchain is the primary product of the Soom tech – a new standard of blockchain that will be usable as a service for desktop and smartphone-based decentralized applications. 4th Blockchain will feature unlimited scalability while delivering low fee and extra-fast transaction processing.
The innovative consensus mechanism called Proof-of-Group-Stake will enable Soom to lead the revolution by making mobile mining a reality and enabling to develop a plethora of useful mobile applications with unlimited potential.
4th Blockchain is the future of the blockchain industry!
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