Its recent partnership with Microsoft Azure attracted the attention of blockchain community to Emercoin project. CoinFox spoke with Jason Cassidy, Chief Communications Officer at Emercoin who believes in the bright future of public ledger.
CoinFox: Basic question: What is the difference between bitcoin and Emercoin?
Jason Cassidy: Emercoin differs from Bitcoin in several ways. We focus on the development of innovative, scalable blockchain services and are a hybrid PoW / PoS system. This provides more security than a traditional Proof of Work system and saves considerable resources in the mining process. To further secure the Emercoin blockchain we have implemented the STUN protocol:
To discover its external IP-address, the client does not use only one server owned by a private company (as do all other Bitcoin derivatives). Instead, Emercoin uses a standard mechanism based on the proven and mature specification RFC5389 (STUN) which uses 263 geographically distributed redundant servers. This makes simultaneous service denial virtually impossible and reduces the possibility that a third party can easily collect all user IP-addresses.
CoinFox: What are your most popular products?
Jason Cassidy: By the far the most popular services we have are EMC SSL and EMC DPO. EMC SSL is our secure socket layer solution that utilities the Emercoin blockchain. This opens up many options for use like passwordless authentication across the Internet. EMC DPO is our digital proof of ownership solution for physical or digital goods and services. Proof of ownership resides on the trusted Emercoin blockchain and acts as a tamper proof replacement for the current systems used today. These services have many applications in virtually every sector of business so it makes sense they are receiving considerable attention.
We are constantly developing new tools and services that push the limit of blockchain innovation. There will be several big announcements later this year regarding our long term commitment to being the top blockchain in the World for business and personal use.
CoinFox: What do you expect from the partnership with Microsoft?
Jason Cassidy: The expectations from the Microsoft partnership are that we are able to bring forth all of our EMC services into the Azure cloud during the first half of 2016. Given Azure's broad user-base that is predominately oriented to Enterprise, Emercoin is a natural fit as many of our services are Enterprise-centric. We approached Microsoft last year with a proposal to come into the BaaS, giving examples of how each service fits into an existing customer segment, vision for integration, etc. They were interested and we were eventually welcomed into the Blockchain-as-a-Service platform.
Once Microsoft is completed their selections for candidates, the staging area will be full and the next step is integration of the services into the BaaS. This is where another rigid vetting process will take place, looking at the stability and security of the offering. The question of viability is addressed well before a candidate is brought into the BaaS staging area.
CoinFox: What is your opinion concerning the block size debate?
Jason Cassidy: Being deeply connected to the industry, I certainly do follow all relevant Bitcoin news and the block size debate is center stage these days. Emercoin has already begun looking at solutions for the issue of blockchain inflation as a major area of innovation, including block size. We are constantly working on solutions today that will have an impact in the future, so there is the utmost confidence that this will an area that Emercoin excels at given our dedication to the broader issue. The Transaction Optimizer is just one of many examples of how Emercoin creates solutions to real world problems.
CoinFox: How do you see the future of blockchain?
Jason Cassidy: As with any paradigm-shifting technology, there will be severe growing pains along the way to prominence. Blockchain technology is incredibly disruptive in all the right ways, and it has the ability to impact the World in the way the printing press, the combustion engine, agricultural (farming) advancements, electricity and of course, the Internet. These all changed the way humanity interacted with each other, unleashing a tidal wave of innovation. We are beginning another such phase as every industry on Planet Earth is positively impacted by shared ledger technology. The future is very Bright, so jump in and join the party or get some shades on.