LIMASSOL, CYPRUS / ACCESSWIRE / July 30, 2024 / GRACE NET has launched its revolutionary transport protocol, marking a new era in blockchain technology and modern network infrastructure. In addition to this major technological advancement, GRACE NET has started to actively conclude strategic partnerships aimed at enhancing inter-blockchain data communication. By addressing issues such as isolated data silos, inefficient cross-system communication, and high infrastructure costs, GRACE NET offers a faster, more secure, and scalable solution for real-time data transfer. This protocol is set to revolutionize applications from DeFi and payments to gaming and AI networks, significantly boosting blockchain efficiency and security.
The Lay of the Land
The blockchain market is a gigantic one, encompassing thousands of startups and hundreds of established funds. The statistics backing up the assumption that blockchain technologies will spearhead the traction of Web3 and a plethora of services on its basis are convincing enough to make investors understand that capitalising on the future by partaking in blockchain development now is the right way to go.
The most recent statistics indicate that blockchain technology market size in 2024 stands at $19.7 billion, with projected market value expected to reach $2,450.4 billion by 2034. Global market growth rate is estimated to be 62% CAGR between 2024 to 2034. If this concoction of funds is to be dissected by type, the public cloud segment holds 66% of the total revenue share in 2024, while infrastructure & protocols accounted for 68% during the year in terms of components. By applications, the payments segment contributed 50% of the total revenue share in 2024, large enterprises held 73.5%, and the financial services segment - a 44% market share in terms of end use.
Companies encounter significant delays and costs when attempting to integrate diverse IT systems, while financial institutions face challenges in securely and swiftly transferring data across platforms. These issues impede the growth of decentralized technologies, restricting innovation and adoption. Addressing these challenges is essential to fully realize the potential of blockchain and other decentralized systems, fostering a more interconnected, efficient, and secure digital future.
Luckily, a solution seems to be beckoning on the horizon as a bold initiative has risen up to the challenge and created a system suited precisely to tackle the problem.
By The Grace
The blockchain space is large and is trying to convince users that they will have entered a new era of Internet browsing. However, reality indicates that only a holistic approach to Web3 integration can pave the way to broader adoption of the truly innovative functions and features that the decentralized web proposes.
This is precisely the problem that GRACE NET seeks to address. GRACE NET is a transport protocol that guarantees the fastest, most secure, and efficient data delivery between devices and networks. GRACE NET offers massive improvements in data transmission speeds, ensuring low latency and rock-solid reliability of timestamps crucial for consensus. It leverages cutting-edge mathematical models and optimized data transmission algorithms to enhance network efficiency. Consistent timestamp synchronization across blockchain networks is maintained, ensuring uniformity and reliability. Additionally, GRACE introduces a brand-new operational mode designed to maximize performance and resource utilization, positioning itself at the forefront of blockchain technology innovation.
Where It All Fits
GRACE NET is designed to support a multitude of applications from the DeFi, payments, asset swap, gaming, finance, social, security, gambling, AI network, and other domains. Since blockchain demand is expanding, Web3 scalability becomes a key factor, one that GRACE means to address without compromising security and speed.
Security-wise, GRACE NET has already covered the issue, as the network successfully passed stress-tests and top-tier audits that proved its adherence to the highest standards. With network resilience comes security - the main concern of modern Web3 users who have grown accustomed to reading reports of blockchain failures that the media salivates over. Luckily, the GRACE NET development team is confident that it will never feature any of those.
But the main advantage of GRACE NET is the efficiency it provides by ensuring data transfer consistency across blockchains and dApps while guaranteeing permanent token price growth and predictable profitability for involved investors. By fostering speed of connections and sharing information between diverse blockchain networks, GRACE NET has the ultimate goal of making data travel fast, securely and reliably in complete integrity.
In combination, the factors of high speed, connectivity, security, data integrity, and price consistency position GRACE NET as a force powerful enough to propel Web3 to its vaunted stage of mass adoption.
At The Heart of The System
Using Grace Net capabilities will allow it to handle large volumes of traffic without interference while each blockchain on the network will operate independently, maintaining its own unique features and governance.
GRACE NET protocol transcends traditional transport level constraints by operating at the core level, ensuring unparalleled speed and efficiency. This is not only achieved through kernel space optimization but also through our innovative core-level integration. With GRACE NET, we deliver guaranteed data delivery, remarkable scalability for dApps, Blockchain, AI, DeFi, and other applications where real-time data transmission is essential, fortified security via TLS 1.3, and superior synchronization capabilities with FEC for lossless data recovery.
As a transport protocol, GRACE NET handles data delivery across devices and the computation of underlying mathematical models. Thanks to its differentiation from NTP and TCP protocols, GRACE NET can boast enhanced performance and reliability that allow it to handle large volumes of traffic without interference while each blockchain on the network will operate independently. This will allow super- structured dApps to scale effectively within the framework of a decentralized architecture, eliminating single points of failure, enhancing resilience and fault tolerance. At the same time, the distribution of timestamp synchronization across multiple nodes and participants ensures uninterrupted operation and reliability.
By applying the power-efficient Delegated Proof-of-Stake (DPoS) consensus algorithm, and guaranteeing predictable and low transaction fees based on average network load, GRACE effectively eliminates most of the issues currently experienced by users of Ethereum - the largest network in existence. In essence, GRACE Blockchain was designed to tackle the high gas fees of Ethereum and provide higher operating stability against network congestion and other issues like frequent errors encountered in so-called next-gen blockchains like Solana.
To further make the system more accessible and transparent, the network relies on the interaction of nodes via the GRACE NET protocol and the HyperText Transfer Protocol (HTTP) with meagre hardware requirements. The built-in voting system lets block producers get elected, with delegates incentivized to act honestly and efficiently in order to be voted for in the future.
The combination of advantages offered by the GRACEnetwork allows it to become a go-to solution for Web3 access in countries where internet connectivity and speed are limited or unreliable.
Grace Connect - a Pioneering Digital Economy Booster
On top of GRACE NET is the flagship application of the ecosystem - GRACE CONNECT. This digital marvel is an adjustable driver and algorithmic booster that is designed to improve the quality and speed of traffic deployed on the native blockchain, acting as an economic engine for the entire system. By allowing users to earn rewards and rights for validating a transaction and merging blocks by staking coins, GRACE CONNECT drives network growth and demand for the native GRACE token.
The advantages of using such an approach for making the ecosystem run are many, as the limited max supply of generated tokens drives their value, giving users an added incentive to reinvest rewards. This closed loop approach relies on users receiving rewards automatically for staking on nodes. The rewards become accessible automatically and tokens do not need to be transferred to the address of any smart contract, as they are frozen at the system level and remain in the user's wallet. All rewards within GRACE CONNECT are fair and transparent, as a favorable economic equilibrium is established across the system the moment a validator is rewarded through fees and by increasing the volume of tokens. As such, the interests of all participants in the network are respected.
Hope for All?
There is a lot to say and even more left to do if Web3 is to become the gold standard of Internet usage in the coming years, but it is already clear that without a unified and scalable solution, the dream of a fully decentralized and user-centric web surfing experience will remain as such. Only time will tell if GRACE can live up to the challenge of solving the myriad issues facing Web3 adoption, but what is evident is that it has the technological potential. The choice of whether it will be the one to make Web3 commonplace is up to the investors and each individual user.
Contact:
CEO Iraida Novruzy
Ceo@gracenet.io
SOURCE: GRACE NET
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