Japanese blockchain developer Chainbow has launched a second-layer protocol for Bitcoin SV (BSV), the latest product to be brought to market by the firm.
The NOTE private information protocol follows on from other products such as a digital currency wallet, payment services and O2O platforms, and enables CRUD—the creation, reading and deletion of data, along with user rights, for managing information on the blockchain.
?: For more information ⬇️⬇️⬇️https://t.co/XB1WVWN6kw
— Bitcoin Association (@BitcoinAssn) April 8, 2020
The platform also facilitates data encryption and decryption, as well as data sharing rules, rights verification and data storages history rules.
Alongside the protocol, Chainbow has launched its first app built for the platform, in NoteSV—a tool for protecting and securing data stored on the blockchain. Similar to existing password management tools like Lastpass and 1Password, the technology includes features such as password generation, password security and two step authentication.
Notes recorded on the system are instantly written to the blockchain, encrypted by elliptic curve cryptography, with all modifications stored on BSV. With the help of microtransactions, notes are permanently written to the BSV blockchain, creating an immutable encrypted record of data.
NoteSV is already available for Windows and Mac users via its desktop client, with plans underway for a release on the App Store and Google Play by the end of this month. After the app goes live for mobile, users will be able to sync data across each of their devices through the BSV network.
The app connects directly to the BSV blockchain, allowing users to benefit from the security and performance of distributed data, without relying on centralized or backup servers.
The product is the brainchild of Chainbow founder Li Long, an engineer with over 20 years’ experience. It follows from his 2019 rollout of O2O, a platform for managing credit on the blockchain with support for tens of millions of data points.
A notable supporter and early adopter of BSV, Li Long said, “Eleven years after Bitcoin’s creation, BSV’s recent Genesis upgrade will bring to the world a 100% reliable blockchain cloud. Right now, we’re witnessing this vision and that’s why I decided to be a part of this early on.”
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.