IOST and Centaur mark the next stage in the decentralised finance space with new collaboration
IOST — the ultra-fast, decentralised blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB) and Centaur — a decentralized financial network — are coming together in a collaboration that will see both platforms benefit from expanded technical support and resources.
The combination of IOST — a global top 100 token listed on Binance with Centaur’s hybrid financing solutions is one that will add another layer to the decentralised global economy. IOST and Centaur have features and aspects that complement each other, and this partnership is the next logical step in opening up classical finance to blockchain benefits, while also enabling broader access to IOST’s high speed blockchain network.
IOST is its own fully-development blockchain ecosystem with its own nodes, wallets, and unique consensus protocol. Speed is the name of the game for IOST, a blockchain dedicated to being “ultra-fast” through a combination of unique technologies such as Proof of Believability (POB) and Efficient Distributed Sharding (EDS)–more on these later.
“This partnership between Centaur and IOST aims to connect the IOST Dapp ecosystem with off-chain real-world financial services in a secure, trustworthy and timely manner. In return, IOST will provide Centaur Network with community expansion, technical support and marketing resources. The two aim to jointly create a decentralized world with blockchain mass adoption becoming a new norm, by enhancing cooperation in the integration of blockchains and traditional financial solutions.”
— Terrence Wang, CTO and Cofounder of IOST
The cross-chain component of Centaur and the backward-compatible interoperability blockchain it operates on complements the vision of Bluehill, IOST’s $50 million incubator and accelerator. Bluehill is designed to be similar to Ethereum’s ConsenSys with the goal of supporting critical infrastructure and projects that will help grow the IOST ecosystem. In this way, Centaur will facilitate cross-chain transactions across one or more protocols within the IOST network, making it easier for users of both chains to send and receive money globally.
The collaboration between Centaur and IOST comes as part of a worldwide endeavor that has IOST trying to build the “world’s first scalable AND decentralized blockchain project.”Centaur’s semi-centralized approach, where lending risk is offset via classical mechanisms such as KYC procedures, credit risk bureaus, and traditional judicial processes, will open up traditional P2P lending markets to the benefits of the IOST ecosystem while enabling lenders to benefit more from the same amount of capital, thanks to products using under-collateralization or even no collateral at all.
“We look forward to continuing to build the future of the Centaur protocol together with the IOST community and our partners towards a new global model of decentralization.”said James Hong, Centaur Co-Founder.
The combination of DeFi and CeFi exposure for the broader IOST ecosystem will drive adoption to native solutions on our blockchain, thanks to the protocol-agnostic liquidity pools and access to more traditional financial services that will address a much larger user base than the current DeFi niche.
Centaur’s integration into the broader IOST platform will make for the provision of services which involve larger customer bases as well as expand the provision of online services, while relieving the users from the grip of existing monopolies and financial systems.
The IOST platform is a global blockchain project with over 50 dedicated professionals across six cities.The IOST platform emerged as a response to the scalability problem which it aims to tackle once and for all. To that effect, it implements an array of technologies, including the distributed sharding technology, Proof-of-Believability algorithm and Micro State Blocks technology, all of which are supposed to offer higher TPS rates.With the IOST platform, its developers want to create and offer a transparent and permissionless system built on the open source principle.
Centaur is a next-generation open ecosystem that supports the integration of existing and future financial solutions through the combination the best elements of decentralised finance with measured regulatory control, Centaur is bridging DeFi and traditional finance with a semi-decentralised approach to constructing solutions, leveraging on the transparency and security of decentralised architectures. A decentralized network of oracles deployed across various protocols will power the transmission of information and data between the Centaur Chain and other blockchains, leveraging on our liquidity pool smart contracts as a micro-ledger. With support from our partners, both in the blockchain industry and traditional financial markets, Centaur plans to spearhead the transition to a fully decentralized ecosystem, while keeping solutions realistic and applicable during the process.