SAN FRANCISCO–(BUSINESS WIRE)–The workforce behind MadNetwork, a customized blockchain purpose-built for enterprise authentication infrastructure, right now introduced plans to soak up Po.et, the decentralized protocol for content material possession, discovery and monetization in media. Collectively, they goal to deal with crucial downside with the web right now — id validation — and its makes use of in content material and monetization. Together with its plans to merge assets with Po.et, MadNetwork additionally introduced a brand new dual-token system which it plans to implement within the coming months.
Launched in 2018, MadNetwork envisioned a sequence of merchandise and partnerships geared towards reshaping the media business. The community rolled out developer instruments by MadHive, and solid a partnership with AdLedger, a nonprofit consortium working to construct open technical requirements for media and promoting. Most just lately, MadNetwork was tapped by Verizon to energy Full Transparency, a company transparency initiative utilizing blockchain verification for information releases.
Based in 2017, Po.et is a subsidiary of BTC Inc, a publishing and advertising and marketing firm for the blockchain business. Po.et began its roadmap by creating an open-source software program primarily based on the Bitcoin blockchain for information attribution and content material timestamps.
“MadNetwork is constructing the basic layer that the majority enterprise options want: the power to validate the id of something within the digital world; whether or not its folks, property, organizations or units,” mentioned Adam Helfgott of MadNetwork. “Absorbing the Po.et workforce and assets will assist us obtain our shared imaginative and prescient of a extra clear, truthful, and accountable internet that rather more shortly.”
Constructing on MadNetwork’s Ethereum sidechain
Po.et had skilled vital scaling, storage, and transaction price points whereas attempting to construct on Ethereum. This has pushed the workforce to re-evaluate their choices for transferring away from Ethereum or an ERC-20 token.
These similar challenges have spurred many different initiatives emigrate to different blockchains or to construct customized layer-two options. MadNetwork’s Ethereum sidechain was constructed to allow the pace and transaction value needed for huge enterprise use instances to change into viable.
“Early on, we realized that the imaginative and prescient for a ‘verifiable internet’ couldn’t exist and not using a safe, decentralized method to retailer and ship that information as nicely,” mentioned David Bailey of Po.et. “We realized that constructing this was an enormous enterprise, so we partnered with and invested in MadNetwork. Their mission to decentralize and democratize promoting and the monetization of content material was adjoining and complementary to Po.et’s.”
“Folding Po.et’s deal with information stamping and integrity into Mad’s decentralized, verifiable information storage capabilities made excellent sense given our long-standing partnership,” mentioned Adam Helfgott.
Merging forces to maneuver the business ahead
The Po.et workforce plans to proceed to replace their roadmap with Mad, specializing in making the Mad information community successful, driving utilization, and letting the POE token serve in that ecosystem. The POE and MAD tokens and the liquidity pool shares will play a staking and finally governance position within the Mad ecosystem.
Whereas the groups are nonetheless laying out the formal construction for this partnership transferring ahead, a POE<>MAD Balancer pool has been set as much as present liquidity for each initiatives. Po.et has dedicated to locking up its MAD and POE into these liquidity swimming pools and staking them for the brand new MadNetwork. To take part, go to the Balancer pool.
About MadNetwork:
MadNetwork is a customized blockchain designed to authenticate and handle the id of organizations, folks, or property within the digital world. With profitable implementations within the promoting expertise area, MadNetwok’s modern expertise may be leveraged by nearly each business because the foundational infrastructure to automate transactions between trusted, authenticated counterparties. The undertaking is backed by high tier traders resembling Blockchange and Fenbushi Capital and has just lately partnered with Verizon. For extra details about MadNetwork, please go to madnetwork.com.
About Po.et
Po.et — Proof of Existence 2.0 is a Bitcoin blockchain protocol that establishes an open, common and immutable ledger for managing the possession, attribution and licensing of inventive digital property. Po.et builds a bridge between creators and publishers and allows the invention of recent content material and verification, authenticity and authorization of generated content material by a very clear and timestamped system of attribution. Po.et is predicated in Singapore and the USA, with workplaces in Nashville and New York. For extra details about Po.et, please go to po.et.
