Russian-backed blockchain projects

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16.06.2021 12:54
Russian-backed blockchain projects

    More than 10 years have passed since the bitcoin blockchain was launched in 2009. In that time, hundreds of new blockchains have emerged. In October 2020, the Blockchain Life 2020 International Conference was held in Moscow. Russian developers presented their projects there as well. We have chosen 5 of the most interesting ones and will tell you about them in this article.

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    ENECUUM

    Logo:

    Goal: to create a fast and cheap blockchain for smartphones.

    CEO: Mikhail Sayfullin

    Token: ENQ

    Mainnet release date: 2019

    Consensus algorithm: Trinity: consists of PoA, PoS and PoW.

    Projects: Enecuum Blockchain, Enecuum Token Machine for creating tokens.

    Socials: Facebook 2 000 subscribres, Twitter 9 000 subscribers, Youtube 600 subscribers, Telegram (EN) 13 000.

    Project goal

    The aim is to create a blockchain platform, which would work faster than Ethereum and with lower transaction fees. The blockchain platform is designed for smartphones: there is a mining application for Android, as well as a toolkit for developers of mobile decentralized applications.

    Project team

    The platform is developed by Enecuum Limited, a company registered in Hong Kong. One of the company's founders and its CEO is entrepreneur Mikhail Sayfullin. The research team includes employees of St. Petersburg State University of Aerospace Instrumentation. You can get acquainted with the Enecuum team on a separate page of the project website.

    Project technology

    Enecuum uses the hybrid consensus algorithm Trinity. It consists of PoA, PoS and PoW nodes. The project allows mining on mobile devices using a special application for Android - PoA mobile masternodes. The platform has an interface for creating tokens called Enecuum Token Machine. It can be used to create regular tokens, NFT tokens and mining tokens for Enecuum blockchain. Detailed information about Enecuum technologies can be found on a separate page of the project website.

    Project history

    The development of the project started in 2017. In 4 years of work, the team has achieved results:

    1. The alpha testing stage of the network.
    2. Beta-testing stage of the network, the release of wallets for iOS and Android, mining application for Android. Release of ENQ tokens of Ethereum blockchain ERC20 standard.
    3. Release ENQ tokens of Enecuum blockchain standard ENQ and integrate them with crypto exchanges. These tokens are to replace the ERC20 tokens.

    By June 2021, almost 24,000 accounts have been registered with Enecuum according to blockchain explorer statistics.

    A detailed roadmap of Enecuum can be found on the relevant project page.

    Use cases

    The Enecuum project has 2 tokens of its own: the project's main currency ENQ and the mining tokens BIT. The latters are only for testing the hybrid consensus algorithm Trinity. The project also issues in-game currency and stabelcoins. Enecuum Token Machine is used to create tokens for payment systems, gaming industry, DeFi and other areas.

    Community

    The project has pages on Facebook, Twitter, Medium, and the bitcointalk.org forum. Twitter has the most followers - 9 000. YouTube channel has almost 700 subscribers, there are regular AMA sessions with answers to questions about the project. Enecuum is a resident of the HUB ForkLog. The project has 10 chats on Telegram in different languages, including English. In December 2020, there are more than 800 participants in the Russian-language chat and almost 14,000 in the English-language chat. The chats are active, with users chatting daily.

    DECIMAL

    Logo:

    Goal: to make token creation simple and straightforward.

    CEO: Anatoly Berdnikov.

    Token: DEL.

    Mainnet release date: 2020.

    Consensus algorithm: DPoS.

    Projects: Decimal Blockchain with an interface for creating tokens and a calculator for tokenomics.

    Socials: facebook 20 subscribers, instagram 1 600 subscribers, youtube 1 570 subscribers, telegram (en) 2 200.

    Project goal

    The aim is to create a simple tool for creating your own cryptocurrency coin. You don't need to understand the technical structure of blockchain or tokens. The project is aimed at people from areas outside the blockchain industry: business, bloggers, media, gaming services.

    Project team

    Decimal is developed by BIT TEAM LTD, a company registered in the UK. The CEO of this company and the Decimal project is Anatoly Berdnikov, who has been working in the blockchain industry since 2016. The company is known for its WallBTC project, released in 2016. The Decimal team also includes specialists from other partner companies, such as SPACEBOT LTD. 

    Project technology

    Decimal uses the Delegated-Proof-of-Stake consensus algorithm - DPoS. The developers have created a user-friendly interface for token creation. It will be understandable even for those who are unfamiliar with cryptocurrencies. To create your token you will need to fill in 6 parameters and provide the project's main token - DEL. Thanks to the DEL collateral, all created tokens are liquid, meaning that their value is backed by another asset. It takes 3 minutes to create your token. There is a special calculator on the Decimal website to check the tokenomics of their project. With this tool, users can calculate the economics of their tokens before creating them and check which parameters would be best for future tokens.

    Project history

    Development of the Decimal blockchain began in December 2019, with a public launch in August 2020. In November 2020, the Decimal team issued DAR tokens through its platform, which are used for marketing purposes: rewarding the community, bloggers and partners for promoting the project. These tokens are also backed by the main cryptocurrency, DEL. A management system is in development to manage Decimal by voting. The community will have the opportunity to propose and vote on changes to the project. When this system is implemented, users will determine the direction of the project. Every day between 700 and 900 transactions on the Decimal network will take place in May 2021.

    Use cases

    Between August 2020 and June 2021, 12 tokens have been created with Decimal. The best known are CRYPTON with an issue of 115 million tokens and BitTeamToken with an issue of 53 million tokens. Along with the DEL coin, there are 13 coins in circulation on the Decimal network. Anyone can view all issued coins and their statistics on Decimal's blockchain explorer website in the Coins section.

    Community

    The project has pages on all major social networks, but VKontakte and Instagram are the most active. There are regular video tutorials and webinars on YouTube, from which users can learn how to use the project and its technical device. As of June 2021, the Telegram channel has more than 20 subscribers and the Telegram chat has more than 2,200 participants. The project's YouTube channel has the largest number of subscribers - 1.57 thousand. The Telegram channel publishes daily statistics from the DecimalChain blockchain explorer. Posts from the channel with statistics are duplicated in the chat. Communication in it is not every day.

    OUROBOROS

    Logo:

    Goal: to create a blockchain-based loyalty programme.

    CEO: Alexander Lavrentiev.

    Token: OURO.

    Mainnet release date: 2020.

    Consensus algorithm: DPoS.

    Projects: Ouroboros Blockchain, loyalty programme, Sputnik-1 messenger, Ouro-Poker, All-in marketplace.

    Socials: VK 400 subscribers, Instagram 10 000 subscribers, Youtube 400 subscribers.

    Project goal

    To create a global loyalty programme for businesses and customers, in which the accounting of reward points will take place on the blockchain.

    Project Team

    The project is being developed by Blockchain Technology LLC, registered in Russia in February 2020. The CEO of the project is Alexander Lavrentiev.

    Project technology

    Ouroboros uses the Delegated-Proof-of-Stake (DPoS) consensus algorithm based on Tendermint technologies. Its main function is a system for storing and recording data on points in the loyalty programme. Points are awarded in OURO blockchain coin. They can be received for purchases at a partner shop and can be paid for in the project's partner shops. The loyalty programme works through a mobile app. The payments can be made through NFC and QR codes or with the help of plastic cards.

    Project history

    The Ouroboros blockchain network was launched in 2020. Ouro Wallet for Android and iOS has been released. The loyalty programme is in beta testing. Work is underway to connect the first partners to the loyalty programme and to issue plastic cards to pay with bonus points. In October at the Blockchain Life 2020 International Forum, Alexander Lavrentiev announced the number of active wallets in the Ouroboros network - 15 000.

    Use cases

    Ouro Wallet wallets were released in December 2020. The project team is also developing several projects that will use the Ouroboros blockchain:

    Messenger Sputnik-1. It will be integrated with the Ouroboros blockchain and use the Signal cryptographic protocol. With these technologies, users will be able to communicate confidentially and send each other OURO coins. Sputnik-1 messenger is at an early stage of development.

    Ouro-Poker is a poker platform in which OURO will act as in-game currency. All data about each game is recorded in a blockchain. Any user can check them, which eliminates the possibility of cheating by the platform or other users. The app is ready and is being prepared for placement on Google Play and AppStore.

    All-In is a marketplace with the ability to conduct secure transactions.

    Community

    The company has pages in VKontakte, Instagram and a YouTube channel of the company-developer "Blockchain Technology LLC". On this channel, Alexander Lavrentiev posts video messages in which he talks about the news of the project. The Ouroboros has its own channels. The largest number of followers on Instagram is 10,000. There are 5,000 participants in the English-language Telegram, who chat daily.

    CRYPTOENTER

    Logo:

    Goal: to integrate bank payment services into a blockchain-based ecosystem.

    CEO: Pavel Lvov.

    Token: LION.

    Mainnet release date: the project in underway.

    Consensus algorithm: PoW (As of December 2020, LION tokens run on the Ethereum ERC20 standard.)

    Projects: CryptoEnter payment system, Rubicon Blockchain.

    Socials: Facebook 25 000 subscribers, Twitter 4 000 subscribers, Instagram 2 500 subscribers, Youtube 2 000 subscribers, Telegram 6 000 subscribers.

    Project goal

    The aim is to create a blockchain-based payment system that solves the problem of costly transfers for banks and users and integrates existing payment services into an ecosystem. Banks will get a more profitable system for transfers. Users do not need to register with additional services and undergo KYC verification because they are already customers of the banks.

    Project team

    CryptoEnter is being developed by the Smart Block Laboratory team, which has been developing blockchain technology since 2017. The company is a business partner of IBM, a member of the Linux Foundation and General Members Hyperledger. In 2019, the project team released Rubicon Blockchain, with which business owners can create marketplaces on the blockchain. The CEO of the company is Pavel Lvov.

    Project technology

    CryptoEnter is a payment system that uses Hyperledger Fabric blockchain developed by Linux. The project uses the LION token, which in December 2020 uses the ERC20 standard of the Ethereum blockchain, for internal mutual settlements.

    Project history

    The project has been under development for 2.5 years and open beta testing began in 2020. Most of the CryptoEnter activity is planned for the following years. In 2021 it is planned to launch CryptoEnter Exchange, connect the first payment agents, expand to the markets of Japan, the USA and African countries. The launch of financial products is also planned for 2021: secured cryptocurrency loan, contracting and dual collateral transactions. In December 2020, the second round of LION ERC20 tokenisation took place.

    Use cases

    CryptoEnter has no practical examples of working with banks in May 2020. According to the project roadmap, the connection of payment agents and expansion into international markets is planned for 2021.

    Community

    The project has active pages on Instagram, Twitter and Facebook. Facebook page has the biggest number of subscribers - over 25 000. CryptoEnter has 2 YouTube channels: in Russian and English where short videos are shown that explain different functions of the project. There are more than 6 000 users in CryptoEnter's Telegram chat; the chat is created for English speaking subscribers. Chat communication is not regular, the audience is shrinking, users periodically ask questions and answer them.

    MINTER

    Logo:

    Goal: to create a fast and cheap blockchain with the ability for users to issue their own tokens.

    CEO: Evgeny Gordeev.

    Token: BIP

    Mainnet release date: 2019.

    Consensus algorithm: DPoS.

    Projects: Minter Blockchain, MinterBonus token creation platform, HUB decentralised project.

    Socials: Twitter 11 000 subscribers, Youtube 1 200 subscribers, Telegram (EN) 34 000 subscribers.

    Project goal

    To create a blockchain for fast and inexpensive transfers: new blocks are generated in 5 seconds and commissions do not exceed $0.001. To enable the creation of their own tokens on this blockchain.

    Project team

    Minter is developed by Minter Network LLC, a company registered in the Federation of St. Kitts and Nevis. The project is being launched and promoted by DeCenter, a company registered in Cyprus. DeCenter and Minter are led by Evgeny Gordeev, a venture capitalist and Bitcoin evangelist since 2013, who has been in the internet business since 1997. The development team consists of about 20 people.

    Project technology

    Blockchain Minter uses the Delegated-Proof-of-Stake (DPoS) consensus algorithm, which is implemented using technology from Tendermint. This company creates off-the-shelf technology solutions for blockchain developers. Minter wallet addresses use user nicknames as addresses. The main coin of the network is BIP tokens, their total issue will be 10 billion coins in 7 years. You can create your own tokens in Minter - to do that you have to provide BIP tokens.

    Project history

    In 2018, a test network was first launched and the project started in early access mode. In 2019, testing ended and the main Minter network was launched and airdrops took place. In the second half of 2020, testing began on the MinterBonus loyalty token platform, through which offline businesses will be able to benefit from Minter. In mid-2020, testing began on Pinpon, a system for brands to analyse audience engagement on social media. In 2021, the BIP bank card is scheduled to be launched across the EU. Support for BTC, ETH and other cryptocurrencies will also be added using Single Minter Address technology. In December 2020, Minter users made around 13,000 transactions per day; in May 2021, the figure dropped to between 5,000 and 10,000.

    Use cases

    The company launched the MinterBonus platform, with which it is testing the creation of loyalty point tokens for offline businesses. Users do not need to install additional apps or bots to use the platform. All processes will run on websites and support QR codes. According to blockchain statistics, more than 2,100 coins have been created in May 2021.

    Community

    Minter has an English-language Twitter account with 11,000 followers, a page on Medium in which the team publishes progress reports in Russian and English every month, a YouTube channel with recordings of conference presentations. In November 2020, the project launched a second channel on YouTube - MinterFM Radio Information Channel, which publishes podcasts and video interviews with the project team. The English-language Telegram channel has over 68,000 subscribers. Daily project news is published on the channel, and users communicate in the chat room daily. There is a special Telegram chat with 2,000 participants for Russian-speaking users to answer their questions.

    CONCLUSION

    In this material we gathered for you 5 interesting blockchain projects of Russian origin:

    Enecuum is a blockchain focused on smartphones. There is a toolkit for developers of decentralized mobile applications and a possibility to mine with an Android app.

    Decimal is a blockchain with which you can create your tokens secured by DEL coin. The creation toolkit is made so that it can be handled by people who are not proficient in programming.

    Ouroboros is a blockchain that is a platform for creating an international loyalty programme for businesses and customers. Blockchain technology is used to record and store loyalty points.

    CryptoEnter is a payment infrastructure for banks, users and businesses. It uses Rubicon Blockchain for its operation. 

    Minter is a blockchain with fast and low-cost transactions. MinterBonus platform is being tested to issue its tokens backed by BIP coin.

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