ONINO Announces Its Product, Aims to Solve Problems of the Web3 Technology
Karlsruhe, Germany–(Newsfile Corp. – February 13, 2022) – The ONINO team is pleased to announce its product, which aims to solve many problems of blockchain-based systems and enable a whole new kind of decentralized applications. ONINO team is working towards becoming the solution for the on-chain identity and assets.
Figure 1: ONINO Announces Its Product, Aims To Solve Problems Of The Web3 Technology
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Core Products
ONINO is working on two core products for users and developers:
- The ONINO Blockchain
A layer-1 dual chain that will enable the secure encrypted storage of real-world identity data, and serve as a platform for a vibrant ecosystem of use cases – built by both, ONINO as well as dApp-developers around the world.
- The ONINO Wallet
A clear dashboard that enables users to keep an overview of their assets scattered across different networks and link their real-world identity to their digital possessions. The wallet is designed with the goal of maximum user-friendliness to make the blockchain world accessible for everyone.
Dual Chain Architecture
The core technology behind the ONINO project is a so-called dual chain architecture. It consists of two blockchains communicating with each other:
- A Proof-of-Stake based public main blockchain for transaction processing
- An encrypted side blockchain for secure data storage
This enables the safe and decentralized storage of real-world identity data and provides users with full control of their data.
The ONINO Ecosystem
The platform is designed to be the simplest solution to solving web3 problems for users as well as developers and to lay the foundation for use cases that were previously considered impossible in the blockchain space.
ONINO will enable developers and companies to implement new identity-based dApps using ONINO’s core technology and thereby build a growing ecosystem of layer-2 solutions.
Users can store a variety of private data on-chain without revealing it to other users on the network. When dApps request information that is connected to a wallet, they cannot access it without the user’s permission. This will empower new levels of data security and will provide users with full control over their personal data.
The ONI Token
The ONI token is the native utility token of the ecosystem. It is used to fuel the transaction needed to write to or read from the ONINO blockchain, providing utility by enabling users to use the numerous future layer-2 dApps.
Initially, the ONI token is launched as a Smart Chain Token to build a strong community during the development phase. After the development of the layer-1 dual chain has been completed, the token will be migrated to the new native chain.
The transaction fees of the native ONI token will be used to fund staking and liquidity mining, and to sponsor the development of new layer-2 projects.
The ONINO Roadmap
The team will launch the first version of the ONINO wallet at the end of 2022. The launch of the native Layer-1 blockchain is planned for the end of 2023 to accommodate the complexity involved in the development of a dual layer-1.
Currently, plans to partner up with various companies in the B2B and B2C domain in order to develop use cases with real-world utility are in progress.
Social links:
Telegram: http://t.me/ONINOofficial
Twitter: http://twitter.com/ONINO_io
Medium: http://medium.com/@ONINOOfficial
Instagram: http://www.instagram.com/ONINO.io/
Media Contact:
Name: ONINO
E-mail: alex@onino.io
Website: http://www.onino.io/
To view the source version of this press release, please visit http://www.newsfilecorp.com/release/113579
