Props Project Moves From Private Blockchain Over to Algorand
Props Project Moves From Private Blockchain Over to Algorand
The Props Project, which includes popular dating app Dating.com, is moving over to the Algorand blockchain.
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Props Projection, a decentralized network of apps including Dating.com, is migrating from a individual blockchain to Algorand (ALGO).
Props' network of independent apps uses Props Token every bit a advantage mechanism. Currently it has over 3 million users beyond various apps. The visitor developed PropsChain, a private fork of Ethereum that currently handles 50,000 transactions an hour.
No need to cede
Still, to reach greater scalability and transparency, the company decided to move to Algorand'due south public blockchain. Algorand CEO Steven Kokinos told Cointelegraph that Algorand was unlike "start generation blockchains" in that it does not accept to sacrifice scalability for security or decentralization:
"Up until at present, people would accept to really deploy private Blockchain in gild to get the scale and throughput if they had large user bases. And if they didn't, then they could consider a decentralized organisation. I call back from the Props standpoint, it's an application or a group of applications that really make more sense on a public network, but they simply didn't accept an avenue to do it. And so we're actually excited to see them deploy on Algorand and bring their users on to the network"
Integration with popular dating network
Dating.com, a conglomerate of 15 international dating apps that have more than 73 meg registered users betwixt them, invested in Props Project and intends to integrate Props into some of its applications.
Nick Grossman, a partner at Union Square Venture, which is another Props Project investor, said:
"Props is bringing one of crypto's killer features — enabling participants to share in the wealth generated on the networks they assistance grow — to mainstream apps."
Blockchain has often been criticized for a lack of adoption, then to run across its adoption by a consumer-facing projection with millions of users is a promising sign.
Source: https://cointelegraph.com/news/props-project-moves-from-private-blockchain-over-to-algorand
Posted by: terrytherend.blogspot.com
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