SamsungGold partners with Coinbit to invest in Nirvana

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Seoul, Korea, July 19 11, 2022 (GLOBE NEWSWIRE) — Recently, Coinbit Exchange, led by South Korea’s Hana Bank and South Korea’s SamsungGold, announced that it will jointly invest in Nirvana Korea to help issue and operate SamsungGoldex. (SGX Gold Bon) from South Korea. SamsungGold is expected to launch in August this year to launch its international gold blockchain mining business.

Since June 7 this year, South Korean companies SamsungGold and Nirvana Korea have entered into a strategic partnership. SamsungGold decided to use Nirvana Chain’s underlying technology to issue SamsungGoldex (SGX Golden Voucher) and related NFT digital collections, and began operating in South Korea’s gold blockchain. , Japan, Vietnam, Malaysia and other countries. With strong support from Coinbit Exchange, SGX will climb a flight of stairs, as the strength of Hana Bank behind it cannot be underestimated.

Hana Bank, headquartered in Seoul, is a financial group active in commercial banking, investment banking, trust, securities, fund management and insurance. Hana Bank, Korea’s third largest commercial bank, was established in July 1991. Its predecessor was the Korea Investment Finance Corporation, which was established in June 1971. It was listed on the Seoul Stock Exchange in 1972 and the London Stock Exchange in 1996 in the form of the GDR. Major shareholders are Allianz AG of Germany, Dong Wan Group of South Korea, Posco, Kolon Group of South Korea and IFC.

SamsungGold Co., Ltd has a long history in Korea itself and has long been committed to providing stable, reliable and high-quality spot and forward trading in major Asian gold and platinum. SamsungGoldex circulates physical gold and platinum in SGX and provides physical gold, gold coupons and gold blockchain services through global gold and crypto banks online and offline line.

Nirvana Korea is primarily responsible for operating local and global blockchain community services and technical nodes of Nirvana Chain, the new public web3.0 chain, in Seoul, South Korea. In 2018, the NA public channel offered the heterogeneous composite channel model for the first time in the world, and set up the world’s best technical team to promote the landing and continuous improvement of the NVM core technology of the public channel. After 4 years, the launch of the mainnet and the establishment of the server nodes were finally completed in 2021. After the port is opened in 2022, it will start Nastation’s ecological journey from the first SamsungGoldex application.

NA(Nirvana)Chain’s flexible Web 3.0 architecture has shown incredible potential in the industry. Considering its powerful decentralized infrastructure and developer-friendly experience, especially in analytics, it takes the new technology of Web 3.0 as an example as follows.

If Web 3.0 includes digital assets, DeFi, blockchain, smart contracts, DAO, then NA(Nirvana)Chain is definitely a few aggregates in the industry. Its underlying blockchain system for apps can adapt to any type of app development. Its turnkey development tool is easy to use and has become an indispensable part of blockchain development. It is the cradle of various decentralized applications.

The Other Side of NA(Nirvana)Chain in Web 3.0

First, the heterogeneous composite chain model proposed by it incorporates three hybrid algorithms, PowF, DPoS and DAG, so that the efficiency can be improved rapidly, reaching millions of TPS in seconds. The original cross-blockchain function is one of its advantages, which can keep the processing fee low and largely meet the requirements of Web3.0 transmission network.

1. NA DFS Decentralized Storage Protocol: It can be used as the data storage layer of Web 3.0 stack, based on smart contract, with unlimited capacity in theory. Users can choose to save the file on the node or on the entire node depending on the confidentiality of the file, which can reduce redundant sections for the system and reduce costs. This protocol can be combined with digital identity to further protect data ownership and facilitate conversion, and data stored in the decentralized protocol will never be lost. How do I find photos in NA(Nirvana)Chain? Users can locate and find it using a hash entry similar to the start of 0x, unlike Web 2.0, which cannot be used due to a server crash or shutdown. It accesses the logical interface in the entire network disk based on content addressing, and then parses it properly as quickly as possible.

2. DNS NA decentralized domain name system: The internally built-in DNS server also pursues the function of decentralization, and the system resolves according to the hash address and automatically obtains the result. NA DNS is a decentralized domain name system. Users can manage and rent domain names here. Through the DNS server, the domain name, UI, logic program and all chain data, and Dapp and Dweb can be realized in the true sense, which can be used by all people in the world. Without a centralized application server provider, the entire data ownership paradigm will also undergo further changes.

3. Unaware Identity Layer: The Web 3.0 era should be about living and working with digital identity. Different from real life, everyone can choose a different life. Web2.0 is full of information, and the zero-knowledge proof provided by NA(Nirvana)Chain hides anonymity in the identity layer, which ensures that the authentication nodes of the internetwork do not know any other information as the validity of inter-blockchain transactions.

4. Cloud computing: With more and more data, NA(Nirvana)Chain engages in the research and development of cloud computing, edge computing, AI distributed computing , elastic computing, distributed application components, etc., to lay the foundation for data storage. . After all, the storage capacity of Web2.0 has a limit. Taking advantage of advanced experience brought by advanced cloud computing on the existing base is another research direction of NA(Nirvana)Chain, which focuses on blockchain reform. It can affect any area.

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