By
Godfrey Benjamin
August 3rd, 2023
ASR Cryptotechnology is getting ready to introduce its new blockchain that will be known under the name Fuchsia Network.
Founded in 2017, ASR Cryptotechnology is a blockchain startup that is building a result-driven smart contract platform. It is headquartered in Czech Republic, and the main aim of its activity is to offer business solutions that can satisfy the modern needs of the world that is now focused on such processes as tokenization and blockchain adoption.
Aerum Blockchain
The company has introduced blockchain that is named Aerum. It is driven by the ATMOS 1.0 protocol which is a special cross-chain delegated PoS algorithm.
To facilitate access to the network, ASR also offers a client application available on both the web and mobile platforms.
The list of innovations provided by the startup includes a fully-integrated wallet system, a unique token issuance platform, cross-chain atomic swaps among others. The Blockchain Integration Toolkit software ensures seamless integration with the network.
Liquidity provision is also enhanced through cross-atomic swaps that offer liquidity between both the Aerum and Ethereum blockchains.
Upcoming Events
In recent announcements, it has become known that a Liechtenstein-based investment company is acquiring ASR Cryptotechnology. Such a move may help ASR’s technology to become scaled up in a way and manner that the global community can access and benefit from it.
In collaboration with Signkeys for the last half-year, the team of ASR has made significant progress on the Aerum protocol in several areas which include stability, governance, identity-powered consensus, a fresh validation and staking mechanism, rewards, as well as multi-level пovernance mechanisms.
The new blockchain is to be launched under the name Fuchsia Network.
The development team is working hard towards the release of the Fuchsia Testnet. These important additions to the project will be made available in the first few weeks of October 2019. The company will be launching validator nodes, a new navigator app, a demo page, a blockchain explorer and most importantly, the source code among other tools.
It is also planned to release a new staking app in collaboration with Signkeys. This will enable the staking of KEYS tokens as well as XRM, which will power the Fuchsia network once it goes alive which expectedly will occur in late October towards early November 2019.
The launch of a staking app is planned to take place together with the release of the Fuchsia Mainnet. This venture is said to include a number of players from the very beginning. And new members will be welcomed.
Technical Innovations
Among the core tech improvements that are to be introduced by the ASR team, it’s worth mentioning the following ones:
- Staking of multiple tokens
- KEYS tokens and XRM conversions for the new token
- Rewards for all stakers
- Introduction of masternodes
- Lower security bonds for masternodes
- Introduction of a set of new digital products
- Identity management protocol
- Two-tiered governance
- Support of Ethereum dApps and smart-contacts
- Larger blocks
- Lower block time (3 seconds)
Speaking about their activity, Alex Randarevich, CEO of ASR Cryptotechnology, notes that the team is very excited about these developments which are near completion and public launch is close by. “Our business development activities already have lined up partners and clients waiting to be on-boarded into the ecosystem” he added.
