DUBAI, UAE. Wednesday 26th, 2023 — Coreum, a layer-1 blockchain built for enterprise applications, from ambitious startups to leading regulated financial institutions, has announced the second wave of successful grantee projects to be built on the network. The projects — Axalio, Lunarspace, Proptix, OnXRP, and Videomaster — will add significant value to the scalability and growth potential of the blockchain, specifically regarding Smart Token functionality.
A novel technology pioneered by Coreum’s architects, Smart Tokens allow users to predetermine the behaviour of natively-issued tokens in order to execute specific and contract-like functions independently while operating on-chain. Wrapped around smart contracts, the tokens provide the essential tools and infrastructure for entities, ranging from financial institutions to entertainment-driven startups, to build and run decentralized applications with great flexibility and customization.
The groundbreaking Smart Token technology, a brainchild of Coreum’s visionary creators, is an innovation that enables developers to implement tokens easily and predefine their functionality through diverse advanced minting rules facilitating powerful and highly secure operations; given that the Smart Token code is discernible for all tokens issued on-chain. With the possibility of having extended functionality through WASM smart contracts, Smart Tokens offer the requisite toolkit and infrastructure for entities, from regulated financial institutions to dynamic startups in entertainment, to create and operate decentralized applications.
“Coreum built and deployed Smart Tokens to integrate the flexibility offered by smart contracts with the customizability and extendibility of tokenization, a concept our team has mastered with our sister project, Sologenic; with its recent turn-key tokenization solution, SOLONEX,” said Bob Ras, co-creator of Coreum. “Since Coreum’s Mainnet launch only a few months ago, the ecosystem has seen remarkable expansion. The emergence of this new set of grantees, comprised of diverse companies and teams, marks a significant shift in how Smart Tokens are perceived and utilized across the blockchain community. Despite Coreum’s relative youth, its growing influence is undeniable, underscoring the technology’s vast potential in the decentralized space.”
More information on each of the grantee projects:
- Axalio: A digital banking platform streamlining access to a diverse range of investment options; including tokenized real-world assets such as gold, cobalt, and lithium, cryptocurrencies, and traditional financial assets.
- Proptix: A pioneering property technology company that utilizes smart NFTs to enable fast, efficient and secure real-estate development raises, investments and sales.
- OnXRP: An established NFT marketplace operating on the XRP ledger with nearly $15 million in total sales, bringing powerful functionality to the Coreum blockchain.
- Videomaster: A Web3 streaming platform that allows creators to set the true value of their content, fostering a fair and transparent creator economy.
- LunarSpace: A blockchain technology company bringing a Human Activity Mining Protocol through Smart Token technology. Empowering enterprises to cultivate a dynamic, decentralized work environment while enhancing transparency, efficiency, and user participation.
In supporting a diverse array of Web3-native projects, Coreum is paving the way for the mass adoption of enterprise-grade-blockchain technology, and by extension Smart Token functionality, among a wide array of entities.
For more information about Coreum and its groundbreaking blockchain solutions, visit www.coreum.com.
Coreum is a 3rd-generation layer-1 enterprise-grade blockchain built to serve as a core infrastructure for decentralized applications with ISO20022 compatibility, IBC interoperability, and novel Smart Tokens. Offering up to 7,000 TPS, it guarantees elevated throughput, cost-effective fees, and unparalleled scalability. WASM-based smart contracts enable diverse use cases, while the low-latency, PoS network propels rapid, secure, and modular applications, expediting decentralized tech adoption in large-scale organizations.
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