Share this article
Blockchain Startup Chain Launches Balance Management Cloud Service
Blockchain startup Chain is launching a new cloud-based Software as a Service product for managing balances in financial and commerce applications.
Updated Sep 29, 2023, 11:51 a.m. Published Oct 24, 2017, 9:00 a.m.
Make us preferred on Google
Blockchain startup Chain is launching a new cloud-based service called Sequence for managing balances in financial and commerce applications.
According to the company blog, the service can be applied in use cases such as digital wallets, lending platforms, marketplaces, exchanges and more, doing away with the need to build a bespoke system in each instance. Instead, the cryptographically secured product is provided as a software-as-a-service (SaaS) offering.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Anticipating perhaps that providers of financial services may be wary of hosting their data in the cloud, Chain emphasized the security of the product, saying:
"While ledgers are managed as a service, all transactions must be signed by the relevant keys. These keys are held in secure enclaves and controlled by the users, services, or organizations that have authority over particular assets, accounts, and functionality. Sequence cannot access them."
With Sequence ledgers, balances are represented by "token-like objects" called assets, which can be "created, transferred, retired or entered into more complex programs." A single transaction can include a number of actions involving multiple assets and accounts, Chain explained.
Currently available for free as a public developer preview, Sequence is expected to move to a general launch in Q1 2018, when a production enclave service based on Intel SGX will also be added.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Chain.
Fiber optics image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
HYPE token's 30% surge is a story of crypto-traditional market convergence, treasury firm says
HYPE has surged 30%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.
What to know:
- Hyperliquid's HYPE token has surged more than 30% to $33, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
- The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
- Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Top Stories
