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Announcement

Hdac Technology launches 'RIZON' mainnet that enhances blockchain service scalability.

Oct 1st, 2021

Attached File mainnet.png

-Transition to a digital asset platform that supports flexible global transactions based on proven performance, safety and scalability
-Using modules supported by Rizon, it creates its own blockchain ecosystem and secures scalability that meets various business demands such as payment and NFT

HDAC has announced that it has released the main net "RIZON" based on Tendermint engines. The Tendermint Engine-based Delegated Proof of Stake method adopted by RIZON is a consensus algorithm that can solve the problems of processing speed, network scalability, and block completeness without consuming enormous resources required for Proof of Work on the existing mainnet. The more tokens are delegated and deposited to a validator who acts as a blockchain node, the greater the stability of the delegation equity certification method. As an incentive for this, token delegators and validators receive distribution of some of the block rewards and transaction fees according to block creation. In accordance with these interests, 78% and 81% of distribution volume (as of early September) are deposited on the network in the case of Cosmos and Terra, which use the same Tendermint engine as RIZON, respectively, creating a virtuous cycle structure.

The RIZON blockchain being a modular structure, using modules provided by Hdac and the latest Software Development Kit (SDK) of Cosmos, you can create and operate your own blockchain that meets various business needs. It can build and operate its own governance model with the independence required for each business, and connect with other blockchain mainnet in the future through Inter Blockchain Communication (IBC), including RIZON Mainnet. 

RIZON blockchain intends to serve as a hub for decentralized digital currencies and assets. RIZON will improve the usability of services and allow more actors to participate, while Hdac will further develop and support modules to RIZON, so that it can continue to support the functions necessary for various industry-specific businesses.

RIZON mainnet will issue asset-backed type Stablecoins with real assets based on virtual assets after obtaining permission from the Swiss Financial Market Supervisory Authority (FINMA), where Hdac’s headquarters are located. Using RIZON's payment module, real asset-based Stablecoins can dramatically reduce business risks in terms of price stability and security. It also improves the inefficiency of the payment system by reducing the intervention of intermediaries and enables businesses targeting the world as a public blockchain. Above all, it is possible to remove the barrier between cryptocurrency and legal currency limited to the exchange area by enabling easy settlement through Stablecoins in terms of payment system.
To this end, Hdac is expanding its base through collaboration with related companies, such as signing MOUs with Lord System, a mobile passport by DID platform company, POS payment terminals and Culture Lab, which provides PG services.

In addition, Hdac will enter the NFT (Non-Fungible Token) market from the perspective of digital assets and develop modules necessary for the NFT business, such as proving copyright ownership of celebrity works and trading in the auction market using Hdac's decentralized identifiers technology. Also, it will directly enter the global market based on Hallyu contents by collaborating with entertainment agencies.

Meanwhile, Hdac began mainnet public testing in June. The validators, who acts as a blockchain node on the testnet, went through a stress test involving more than 1,000 teams worldwide, and successfully completed the testnet earlier this month. As a reward type, this testnet has improved usability by contributing not only to swap tests but also to the creation of various tools such as Explorer and Wallet in the Discord community.

Won Sung-hwan, CEO of Hdac Technology, said, "there were difficulties in replacing the existing mainnet, but we succeeded in developing and launching a completely new mainnet based on widely recognized protocols in the industry," adding, "Hdac, which legally passed the review of financial regulators such as FINMA, will enter the global market." As a result, Hdac will materialize its vision of "realizing the potential of blockchain technology" as a real business through the launch of the RIZON mainnet.

PRIVACY POLICY

1. Introduction.

Hdac Technology AG respects the privacy of its Members, Contributors, Users or Clients and is dedicated to controlling the use and disclosure of information provided by Members, Contributors, Users or Clients using the Site. This Privacy Policy (the “Privacy Policy”) sets forth Hdac Technology AG’s policies regarding collection, storage, access, use and disclosure of information relating to a Member’s, Contributor’s, User’s or Client’s registration and use of the Site. Any terms not defined herein shall have the meaning set forth in the Terms & Conditions, the Transaction Terms & Conditions or the User Agreement.

2. Information Collection, Use And Disclosure Activities.

2.1 Registration Information.

To ensure that only legitimate entities and individuals are able to access the non-public areas of the Site and enter into transactions, we require each potential Member, Contributor, User or Client to, by using the Registration Page on the Site, provide (i) information regarding themselves (including name, e-mail address, job title, work address and work phone number), and (ii) information regarding their Company (including Company name and parent Company’s name and address). Upon receipt of Your registration data, Hdac Technology AG may contact You or Your Company to obtain other background information used by Hdac Technology AG to evaluate an applicant's qualifications for Membership, Contribution and/or Participation. Other than as specified in this Privacy Policy, the registration information will be used only internally by Hdac Technology AG and will not be disclosed to third parties without the applicable Member’s, User’s or Client's prior written consent. Notwithstanding of the before mentioned, Hdac Technology AG is obliged to report suspicious transactions and facts about individuals including Contributors to the relevant authorities without further notification and without becoming liable for any damage such action may cause.

2.2 References.

In addition to the information specified in Section 2.1, Hdac Technology AG may require Members, Contributores, Users or Clients or prospective Members, Contributors, Users or Clients to provide Hdac Technology AG with Company references to allow Hdac Technology AG to verify a Company’s capacity, legitimacy and reputability. Hdac Technology AG may provide such references to parties with which a Member, User or Client enters into a Negotiation to assure such parties that Company can meet its prospective obligations thereunder.

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Each Member, User or Client will create a Member, Contributor, User or Client profile that includes, among other things, information about this Member, Contributor, User or Client. Information in a Member, Contributor, User or Client profile are accessible only by the applicable Member, Contributor, User or Client, the Member, User or Client’s Group Administrator and Hdac Technology AG. Certain Member, Contributor, User or Client profile information will be provided to the parties engaged in a Negotiation in accordance with Section 2.5. Other than as permitted under this Privacy Policy, Member, Contributor, User or Client profile information will not be disclosed to third parties without the applicable Member, Contributor, User or Client's prior written consent.

2.4 Member, Contributor, User or Client Information.

(a) Hdac Technology AG may collect, use and disclose both on and off the Site, for marketing and other purposes, certain general, demographic and statistical information regarding Site usage and transactions. (b) To assist Member, User or Clients in selecting companies they may do business with through the Site, Hdac Technology AG may make available to Member, Contributor, User or Clients and non-Member, Contributor, User or Clients certain performance statistics of all Companies, provided that such statistics shall not include any Company-identifiable pricing information.

2.5 Technical and Usage Information.

To operate the Site, enhance its functionality, and ensure that Members, Contributors, Users or Clients Negotiations and communications are convenient, dependable and secure, Hdac Technology AG may collect, store and use technical and Site usage information relating to a Member, Contributor, User or Client's activities on the Site. Such information includes the Internet Protocol (“IP”) address from which a Member, Contributor, User or Client accesses the Site, which is used only internally by Hdac Technology AG as required for server operation and other technical uses, and is not disclosed to Members, Contributors, Users or Clients or other persons. Hdac Technology AG may also track the pages of the Site accessed by Members, Users or Clients.

2.6 Member, Contributor, User or Client Communications.

Hdac Technology AG may use Member, Contributor, User or Client contact information, such as e-mail addresses, to communicate with Members, Users or Clients regarding registration and transactions, to notify Members, Contributors, Users or Clients of changes in Site functionality and features, product and service updates, policy changes, billing and other activities relating to a Members, Contributors, Users or Client's use of the Site, and for marketing purposes.

2.7 Legal Compliance.

In addition to the disclosures permitted pursuant to this Privacy Policy, Hdac Technology AG may provide Member, Contributor, User or Client information in connection with legal, administrative or judicial inquiries, claims or orders to the extent necessary to comply therewith or to enforce a User Agreement.

3. Collection And Use Of Information Using Cookies.

As with many state-of-the-art Internet sites, the Site uses “cookies” to enhance the functionality of the Site and to make transactions and other activities more convenient and efficient for Members, Contributors, Users or Clients. A “cookie” is a file stored locally on computers used to access the Member, Contributor, User or Client account that contains information relating to a Member, Contributor, User or Client's past use of the Site. For example, a cookie may contain information previously entered on a Site form, which may be recalled as default information when that form is accessed at a later time. This prevents re-entry of frequently used information each time a Member, Contributor, User or Client account is accessed. Cookies are also useful in streamlining log-in and in preserving transactional information between sessions. Cookies will likely play an increasingly important role as we enhance the ability of Members, Contributors, Users or Clients to customize the functionality of the Site to better meet their needs and preferences. Most Internet browsers include preference settings that allow users to be notified and control whether cookies are transferred to their computers. Please review Your browser's documentation or “help” feature for more information on that functionality. Although disabling cookies will not affect a Member, User or Client's ability to transact business on the Site, it may make such activities more time consuming.

4. Linked Sites.

The Site may contain hyperlinks through which other Internet websites may be accessed by Members, Contributors, Users or Clients. Hdac Technology AG is not responsible for and cannot make any assurances regarding privacy, or other policies or practices of the operators of such websites. Such links are provided only for the convenience of our Members, Contributors, Users or Clients, and the presence of any link does not imply that Hdac Technology AG endorses, approves or is responsible for such websites.

5. Security.

Hdac Technology AG is very concerned with the security of information relating to our Members, Contributors, Users or Clients' use of the Site and has implemented systems and procedures to prevent unauthorized access to that information including the use of Secure Sockets Layer (SSL) connection and password protection. Each Member, Contributor, User or Client will create its own username and password, the secrecy of which is the sole responsibility of the Member, Contributor, User or Client. In the event the integrity of a Member, Contributor, User or Client’s password is compromised, the Member, Contributor, User or Client shall immediately change its password.

6. Updates To The Privacy Policy.

Hdac Technology AG may update this Privacy Policy from time to time as new features and services become available on the Site and to keep pace with technological developments. The new terms shall be effective ten (10) days after they are initially posted on the Site. It is the responsibility of the Member, Contributor, User or Client to review the latest terms. If You do not agree with updated Privacy Policy, You should immediately cease use of the Site and the Services.