Fintech Firm To Launch An Interoperable And Privacy-Enabled Blockchain Program
On Tuesday, May 9, Digital Asset, a fintech firm, revealed its plans to launch a blockchain network that is both interoperable and privacy-enabled. The new network aims to offer a decentralized infrastructure to institutional clients.
Providing Institutional Level Solutions
Chris Zuehlke, the global head of Cumberland and a partner at DRW, described the Canton Network as a robust solution. According to him, this initiative meets the industry’s demands to utilize blockchain technology’s capabilities while still protecting the essential privacy needs of institutional finance.
During the discussion, an attendee pointed out that the combination of this distinctive strategy and the capacity to carry out an atomic transaction across several smart contracts is the foundation required to transfer these workflows onto the blockchain. The network can seamlessly link together applications using the DAML, Digital Asset’s smart-contract language.
This creates a platform for synchronization and interoperability across various systems used in financial markets. Jens Hachmeister, the Head of Issuer Services and New Digital Markets at Deutsche Börse Group stated that these solutions serve as essential building blocks for forthcoming digital and distributed financial market infrastructures.
Digital Asset provides and owns various infrastructure technologies, including the DAML smart contracts and the Canton protocol that enables these applications. However, the network itself is not solely owned by Digital Asset.
Many prominent institutions are participants in the Canton Network. These include BNP Paribas (BNP), Goldman Sachs (GS), Deloitte, Broadridge (BR), Cboe Global Markets (CBOE), Microsoft (MSFT), S&P Global, and a host of others.
Canto Blockchain Change Reward Mechanism
Meanwhile, Canto blockchain community members, built on the Cosmos-based layer one blockchain, are scheduled to vote on three suggestions. If passed, these proposals would result in a decrease in liquidity mining rewards, as well as a reduction in the allocation rate of block incentives.
The proposed changes are likely beneficial for the CANTO token holders as they could lead to a decrease in the inflation rate of the overall token supply. In its recent blog post, the network indicates that if the community approves these proposals, the liquidity mining incentives for each liquidity pool on the protocol, including but not limited to ATOM/CANTO and ETH/CANTO, will be lowered by approximately 38% on average.
Furthermore, the governance submissions aim to reduce the inflation rate of Canto. If passed, the amount of CANTO tokens ejected per block would decrease by 15% to 4.76.
In February, members of the Canto community successfully voted to decrease security emissions and liquidity mining inducements. The contributors noted that the Canto project had successfully drawn deep liquidity into the Canto Lending and Canto DEX Market.
With this latest vote, they aim to enhance the long-term sustainability of the platform’s incentives program. The recent governance proposals, set to go live on May 11, represent another step to slow down block rewards or “security emissions” and liquidity mining rewards across the board.
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