Even with the turbulence in South Korea's crypto landscape, its enterprise blockchain domain has progressed smoothly. This evolution, however, has been rather unobtrusive. Their leading blockchain startup is not widely recognized outside the country. This firm is overseeing a blockchain-as-a-service platform aiding businesses in merging new technologies with their existing infrastructures, and they are transitioning to a new platform, AERGO, which will shift their operations to a more publicly visible angle. Blocko Blocko has been more than just theoretical; its blockchain solutions are implemented by over 25 million users worldwide, involving giants like Samsung, Lotte, Hyundai, Credit Suisse, among others. Their inclination towards business-focused solutions in the past means they haven't garnered the widespread global attention that projects like ICON have achieved. Coinstack Their AERGO initiative, coupled with a significant drive for community engagement (participation can earn you tokens), is altering that trajectory. While Coinstack stood out with its SDK and system interoperability, AERGO aims to seamlessly connect both permissioned and public blockchains, with support for diverse smart contract formats, programming languages, and consensus mechanisms.
Blocko & Coinstack: Functionality and Operations Demystified Blocko's mission is straightforward: simplify the development, deployment, and integration of enterprise blockchains. Initially concentrated on private business networks, Coinstack has seen multi-use success. The new AERGO platform will eventually take its place, being a hybrid of public and private blockchains. Coinstack's foundational technologies aren't groundbreaking, but its innovative development approach gives it an advantage over similar ventures. It acts as middleware, bridging an enterprise's current framework with blockchain technologies and decentralized applications. Users benefit from an entire blockchain setup, an SDK for application development, and API support that simplifies data management. Although AERGO promises advanced functionalities, Blocko and Coinstack's success stems from delivering user-friendly and secure solutions, which make the adoption of novel tech by traditionally hesitant companies a smoother process.
With about 25 million users already relying on Coinstack-supported services, it's evident their strategy has proven effective. Their client list includes:
Lotte Card: As a top-tier credit card company in South Korea, Lotte Card leveraged Coinstack to construct
Korea Exchange: Delivering the Korean Startup Market, a platform to trade startup equities, Korea's central stock exchange utilized Coinstack for document and identity verification.
Samsung SDS/Nexledger: Collaborating with Blocko, Samsung’s ICT branch developed Nexledger, a personalized enterprise blockchain. Samsung also utilizes these tools for its credit card operations.
Gyeonggi-do Voting: Though not the most lucrative endeavor, Coinstack executed a public voting system in South Korea's populous Gyeonggi Province.
- Coinstack’s proprietary framework keeps its inner workings under wraps, but broadly, it's rooted in an SDK aimed at comprehensive blockchain solutions inspired by both Bitcoin protocol and Ethereum Virtual Machine. Supporting Java and Python as programming languages, Coinstack, while universally modifiable, simplifies oversight and development once incorporated. a biometric login system for their app , and it’s been going since 2016.
- is soon to replace and expand upon Coinstack. Unlike its predecessor's closed, custom-built nature, AERGO introduces an open-source platform, featuring proprietary blockchain networks, central hubs, marketplaces, purpose-built for businesses. Though leveraging Coinstack as a foundation, its ultimate form will diverge significantly upon rollout. Blocko's successful history influences a positively projected path for the upcoming developments. both built on Coinstack .
- aims, like Coinstack, to empower businesses to design and manage blockchain projects within a more open ecosystem, allowing developers to innovate freely. Built around three foundational components: a core public blockchain, a hosting service for tailored chains, and a marketplace for software asset exchange. Within the AERGO initiative, the primary public chain ensures connectivity across services and applications on the AERGO network through a Delegated Proof of Stake (DPoS) consensus mechanism, introducing AERGOSQL—a smart contract engine utilizing familiar SQL language. AERGO defines this as hosting for blockchain services; essentially, this feature broadens accessibility. The hub lets separate blockchains create and go live on AERGO. Like Coinstack, these systems can be custom-crafted to meet unique needs, supporting different consensus models like RAFT and PBFT, similar to cloud services, offering developers the means to independently manage projects without fretting over public forks or updates.
- AERGO Hub grants access to the marketplace, comparable to an app store for the AERGO ecosystem's programs, services, and resources. It facilitates not only third-party software sales but also commerce in computing resources, akin to the Golem marketplace, stimulating broader ecosystem growth. AERGO is set to succeed Coinstack. Businesses opting to upgrade their Coinstack systems face minimal upheaval due to backwards compatibility. While Coinstack has largely been used for private, permissioned chains, the new open-source, dApp-compatible structure is designed to support virtually any application within a blockchain framework, offering developers extensive scalability without hindrance, unlike certain public blockchains. and is seeing growth from its endeavors, sparing it from substantial ICO dependencies. An ICO might silhouette the horizon, but presently, initial tokens are allocated to raise product awareness. This will help address Blocko’s branding challenge, offering recognition they have not achieved in the crypto circles.
Given the case-by-case evaluation process, with exceptions in markets like the US and China due to regulations, the initial distribution might be gradual. Yet once operational, native tokens willbe critical for executing smart contracts and performing tasks on the AERGO network, bestowing tangible value. While it's unsure how many Coinstack users will transition to AERGO, community initiatives and backward compatibility could ensure enough traction from notable names initially.
How AERGO Works
AERGO Speculated timelines place the AERGO mainnet launch in Q1 2019, with the Hub and Marketplace slated for Q3 2019, though such timelines often shift. By October 2018, they've introduced their first open-source technologies to streamline management of their SQL-based smart contracts.
The AERGO project’s main goal The volatile days of cryptocurrency may seem distant, yet initiatives like Blocko's Coinstack and AERGO are less vulnerable to such swings. Lacking the radical, decentralized ethos that propelled early projects, they boast a sound business model emphasizing compatibility and cross-functionality, attracting genuine, serious users from inception. Their success isn't just in hypotheticals but has rolled out impressive real-world applications. Whether they achieve moderate or regional success, they are certainly compelling to watch as they build bridges among public/private chains, smart contracts, development, and enterprise applications. As blockchain technology matures, embracing user-friendly services and interfaces at every step is key.
AERGO Chain
From Coinstack to Aergo: The Enterprise Blockchain Revolution in South Korea is Advancing delegated proof-of-stake Despite facing regulatory headwinds, South Korea's crypto scene has seen its blockchain initiatives in the enterprise sector thrive with little resistance.
AERGO Hub
From Coinstack to Aergo: South Korea’s Enterprise Blockchain Sector is Blooming
AERGO Marketplace
While South Korea's crypto landscape has navigated through its share of regulatory hurdles, the enterprise blockchain sector has quietly yet steadily gained traction. However, it remains somewhat under the radar. The leading blockchain startup hasn't achieved significant international acclaim just yet. Presently, the company is operating a blockchain-as-a-service platform that's enabling firms to seamlessly integrate this novel tech with their existing frameworks. They are currently in the midst of transitioning to a new platform, AERGO, which is anticipated to enhance their visibility. on Ethereum Blocko isn't merely testing the waters with theory—its technologies are actively utilized by over 25 million global users through major brands like Samsung, Lotte, Hyundai, Credit Suisse, among many others. Their past focus on a business-centric approach has meant that they haven’t captured the global spotlight like projects such as ICON have.
The introduction of the AERGO initiative, accompanied by a push for community engagement—which rewards participation with tokens—is changing this dynamic. While Coinstack was notable for its SDK and compatibility with existing infrastructures, AERGO aspires to consolidate permissioned and public blockchains, bringing in diverse smart contracts, programming languages, and consensus models.
Tokens and Timelines
Blocko itself has received a fair bit of venture capital money Exploring Blocko & Coinstack: Their Operations and Functionalities Blocko's primary objective is to simplify the development, operation, and integration of enterprise blockchains. Initially, Coinstack focused predominantly on private business chains, achieving success across various implementations, but the emergence of the hybrid AERGO chain is set to eventually supersede it. Though Coinstack’s underlying blockchain technology isn't groundbreaking, its development methodology grants it a competitive advantage over similar initiatives. Positioned as middleware, it acts as a conduit between traditional business setups, blockchain advancements, and dApps. By opting for Coinstack, businesses acquire a blockchain network and a Software Development Kit (SDK), streamlining app development, along with API support for more efficient data handling. While AERGO will introduce some sophisticated features, the success of Blocko and Coinstack to date appears rooted in delivering approachable and secure solutions to companies that might otherwise be hesitant about pioneering this relatively nascent technology.
Currently, with approximately 25 million users benefiting from Coinstack's services, the approach has proven quite effective. Their clientele includes: KYC/AML procedures Lotte Card: As one of the paramount credit card providers in South Korea, Lotte Card leveraged Coinstack to develop
Korea Exchange: The primary stock exchange for South Korea unveiled the Korean Startup Market, building a platform for trading startup equity. It employs document and identity authentication
The official timeline Samsung SDS/Nexledger: This tech wing of South Korea's most renowned entity has been collaborating with Blocko and Coinstack LiteTree to architect their proprietary enterprise blockchain system, Nexledger, which extends its offerings to Samsung's credit division.
Outlook
Gyeonggi-do Voting: Though not the most lucrative venture, Coinstack executed a community voting initiative in South Korea's populous Gyeonggi province. second only to IBM The intricate technical mechanics behind Coinstack remain undisclosed due to its proprietary nature; however, broadly, it's constructed around an SDK crafted for a full-stack blockchain solution diverging from the original Bitcoin protocol and Ethereum Virtual Machine. It accommodates programming languages like Java and Python. This infrastructure might vary per application, but once deployed, Coinstack's middleware simplifies its development and monitoring.
