Reltime successfully pilots 5G Mobile Handset as a Trusted Node Validator in Layer-1 Blockchain
Oslo, Norway, 26 June 2023 - Reltime AS, an award-winning provider of next-generation Web3 platform services has today announced the successful trial of using 5G mobile handsets as trusted node validators in its Layer-1 Proof of Authority (PoA) Blockchain.
This groundbreaking development brings the unprecedented potential for secure and decentralized applications (dApps), enabling a more interconnected digital future. The new blockchain platform can handle unlimited tenants, and each tenant can use 5G mobile handsets acting as node validators and Decentralized Autonomous Organizations (DAOs), an intelligent system to distribute and manage entity-level asset ownership.
Leveraging the high-speed data transfer and security capabilities of 5G networks, Reltime has created a scalable blockchain infrastructure that taps into the ubiquitous nature of mobile phone technology. The power to participate in a PoA consensus mechanism can now extend to anyone with a 5G mobile handset, making decentralization truly global. With the successful conclusion of this pilot, unlimited tenant environments with non-custodian wallets can now be created by businesses which across different regulatory frameworks and markets.
This breakthrough is particularly valuable for Telecom operators. When handsets serve as node validators, it allows for much more efficient use of operators’ existing infrastructures for exploiting Web3. In Reltime’s PoA blockchain, only the authorized nodes can validate transactions which ensures the highest levels of security. This is especially important in the telecom industry as it manages huge volumes of sensitive user data. This development also opens for innovative decentralized applications (dApps), e.g., P2P transactions, decentralized cloud storage and IoT connectivity. All of this means new services and revenues. This new role of the handset also brings decentralization down to the individual device level which can reduce latency, and increase transaction speeds, thus enhancing the overall user experience.
"Through this innovation, we are not just ensuring optimal performance but also establishing a new operational framework for Web3’s enterprise adoption. We have also integrated a robust identity protocol in our platform which makes each mobile phone node exceptionally secure and trustworthy, a vital element especially considering several DAOs that serve the multi-tenant ecosystem. Reltime is now making blockchain technology more accessible, more usable, and more global than ever before, said Frode van der Laak, Co-founder, Inventor & CEO of Reltime.
This pilot project's success lays the foundation for diverse applications that can truly harness the power of a secure and distributed network. DAOs and other ecosystem participants can now tap into the potential of having a plethora of node validators, effectively decentralizing, and securing their platform operations. Reltime is not just shaping the future of blockchain, but also redefining how individuals and organizations use this transformative technology. The successful pilot of integrating 5G mobile handsets as node validators in a Layer-1 blockchain is a significant milestone in this journey.
About Reltime AS
Reltime is revolutionizing the financial and digital services industry with its advanced Web3 platform. Reltime has developed its own Layer-1 Proof of Authority Blockchain with zero transaction and gas fees. The platform includes a range of applications such as non-custodian wallets, SuperApp, loyalty programs, payment solutions, lending services, QR codes, CBDCs and digital fiats, and utility tokens. Additionally, the Reltime platform provides customer administration features like eKYC, identity management, SLA, and reporting. By incorporating a decentralized identity, Reltime is driving the next generation of digitization in supply chain management, tokenization, asset ownership, and global trade.
For more information about Reltime AS, visit www.reltime.com
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