Russian Nuclear Agency to Develop Blockchain as Part of Technology Adoption Framework

  • Russian state nuclear energy corporation is in the process of developing “advanced” digital technologies including a blockchain framework
  • Strategic focus on blockchain is in line with recent Russian policy

Rosatom, Russia’s state-owned nuclear energy corporation has announced that it is fully engaged in developing “4.0 technologies” including blockchain technology, according to a press release signed by Rosatom IT Department head Evgeniy Abakumov, on October 1.

According to Abakumov, Rosatom will focus on three main areas of development within its drive to adopt new technologies, namely blockchain technology, artificial intelligence (AI) and Internet of Things (IoT). To this end, he revealed, the corporation is currently in the process of recruiting fresh talent in the three designated fields.

Quoted in the statement he said:

We are committed to integrating 4.0 technologies on a wider scale. IoT, AI, blockchain and others are to increase the efficiency of manufacturing process.

Evgeniy Abakumov

Russia has recently adopted a positive position on blockchain technology, with several state institutions like the nationwide Russian state pension fund announcing their intentions to implement blockchain technology at several points during the course of 2018.

A month ago, the Russian Union of Industrialists and Entrepreneurs collaborated with the country’s Duma to create a new bill for regulating cryptocurrencies which could serve as a legal basis for the operation and oversight of the country’s blockchain sector. Despite the optimism this move generated, many were left disappointed when the draft bill seemed to back off from explicitly providing legal backing for cryptocurrencies.

Military and Economic Application of Blockchain Technology in Russia

Last month, CryptoGlobe reported that a Russian military research lab was created in June with the mission of exploring how blockchain technology can be leveraged to detect and prevent future attacks. The Russian Defense Ministry was also reportedly set to begin implementing blockchain technology in line with the integration of Russian cryptographic algorithms into international standards.

In August, CryptoGlobe also reported that Russian lawmaker Vladimir Gutenev suggested the adoption of a gold-backed cryptocurrency for international arms sale transactions by the Russian government so as to circumvent US sanctions aimed at preventing the sales of Russian weapons and goods in general.

New Public Blockchain Hedera Hashgraph Launches with 26 Dapps

Michael LaVere
  • Hedera Hashgraph launches open access to its mainnet blockchain with 26 dApps. 
  • Network will support 10,000 transactions per second, in addition to smart contracts and file services. 

The Hedera Hashgraph team has announced the successful launch of its public blockchain mainnet on Sept. 16, which includes 26 decentralized applications. 

Hedera Launches Public Mainnet

According to the release, Hedera Hashgraph is now open to the general public after months of being in a closed beta network for select developers.

Hedera claims to be have a faster consensus algorithm than the blockchain used by Ethereum and Bitcoin, capable of supporting 10,000 transactions per second. The open-access mainnet also allows users to operate smart contract and files services, with the team planning to increase the network’s speed “methodically throughout the remainder of 2019.”

Heredera’s Hashgraph achieves this transaction throughput thanks to a unique feature called gossip, which sees nodes within its network share information – gossip - on transactions, and subsequently gossip on gossip to record each event on the network and create a hashgraph of information.

The network reportedly achieves consensus and is secure by a virtual voting process, where the hashgraph technology uses nodes to ensure Byzantine fault tolerance. Hedera further has a Consensus Service under development that will be made available to the public later in the year. 

Mance Harmon, co-founder and CEO of Hedera Hashgraph, said, 

We are thrilled that, through open access, dozens of decentralized applications are now live and running on the mainnet, along with mirror nodes and other parts of the ecosystem designed to expand Hedera’s reach and adoption.

Hedera uses “council members” to run nodes and maintain the decentralization of the blockchain. The 39 council members, which include IBM and Boeing, also govern changes to the software. 

The enterprise-focused network has earlier this week seen its cryptocurrency, HBAR, get listed on leading cryptocurrency trading platform OKEx as three new trading pairs – HBAR/BTC, HBAR/USDT, and HBAR/USDK were added.

In a press release Andy Cheung, OKEx’s Head of Operations, stated:

Hedera and OKEx share the same goal of building a trusted, safe, and fair digital future for everyone through developing a neutral, open-access infrastructure. With such a powerful, enterprise-grade ledger technology, we believe it is a big step forward in mainstream adoption of decentralization. We are excited to support the Hedera platform and continue to lead this industry forward.

To celebrate listing HBAR, the cryptocurrency exchange launched a 500,000 token giveaway that will see holders and market makers who create maker orders on OKEx have a chance to win a share of the HBAR tokens being given away.

The first 5,000 traders to trade a HBAR trading pair, OKEx’s announcement reads, are also entitled to a share of 150,000 of the half a million HBAR being given away, in proportion to the volumes they trade.

Featured Image Credit: Photo via Pixabay.com