Top Ranking Software Enterprise Doubles Down on Blockchain and DeFi
Nov 17, 2020
L-Iklin, Nov 16, 2020 (Issuewire.com) - Data Access Worldwide, creators of the DataFlex development suite (ING Bank, Coca Cola Co.), staked close to one million BIND (a cryptocurrency) to participate in the Compendia Blockchain as a validator.
The software enterprise is best known for its app development suite DataFlex, used by enterprises such as ING Bank, Coca-Cola, and ABN AMRO Bank.
In 2018, Data Access had already voiced their interest in the blockchain industry by partnering with the cryptocurrency platform nos.io.
Now, Data Access launched a validator on Compendia, a decentralized network for open databases, staking nearly one million of the network's native cryptocurrency - BIND - locking the coins for the maximum duration of one year.
Complementing its Database Oracle features, Compendia also offers a suite of DeFi (Decentralized Finance) solutions such as a wallet app with Ethereum connection, a crypto exchange (bind.exchange) for trading BIND against ETH, and yield farming (bind.farm) which pays interest to BIND holders.
"Compendia is the Wikipedia of databases for apps, services, blockchains, smart contracts, IoT, A.I. and more.
Think of Compendia as an oracle network, but instead of serving one piece of simple data for one specific topic, the network can serve full data collections from many sources relating to any topic."
-- Excerpt from the Compendia Introduction
The blockchain's BIND coin represents votes. BIND can be staked (locked for a duration) to increase the number of votes that an account is worth.
Since validators (the network's miners) depend on votes in order to mine blocks and earn rewards, they commonly choose to share their mining income with voters.
Because of this, BIND holders receive frequent rewards simply by holding BIND and setting a vote for a sharing validator.
Staking can increase a voters' power (and thus their reward share) by up to ten times depending on the stake duration (three months up to one year).
Instead of becoming a sharing validator relying on third-party voters, Data Access took a more aggressive route:
The enterprise staked close to one million BIND themselves - for the maximum duration of one year - in order to vote their validator into a forging position, and as an investment in the future of Compendia's database technology:
"Data Access Worldwide has been highly interested in the Compendia platform. It is a true and meaningful blockchain initiative that we support by providing high quality, continuous validation services."
-- Excerpt from the Data Access validator profile.
The BIND coin can be purchased as wBIND on bind.exchange (powered by the Uniswap exchange). wBIND can be swapped to BIND at a 1:1 rate in the DeFi panel of the Compendia wallet.
Compendia is acclaimed for being the first full-feature blockchain built with the ARK Framework to officially partner with ARK.io (creators of the ARK Public Network and framework).
To find out more about Compendia, visit https://compendia.org.
To learn more about Data Access Worldwide and their DataFlex development suite, visit DataAccess.com.
Media Contact
Dean van dugteren
Source :nOS Limited
This article was originally published by IssueWire. Read the original article here.
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