International startup AERUM raised $ 1 million from Russian investors to develop a blockchain protocol for decentralized financial applications
The international blockchain startup AERUM, which has created a platform for decentralized blockchain applications, has raised $ 1 million from private investors Sergey Paramonov and Rostislav Kishenkov. The founder of the project, Alexander Randarevich, also took part in the round..
The money is used to create a consortium of developers to launch of the AERUM protocol. The project brought together specialists from the USA, Ireland, Asia, Central and Eastern Europe.
AERUM is the next generation of financial blockchains. The consumers of the AERUM product will be decentralized communities and organizations relying on P2P payments, programmable economies, micropayments and social loans. The startup provides a complete and ready-to-use infrastructure for building and using decentralized applications (dApps) for B2B and B2C. The project uses cross-network decentralized Atomic Swaps for a barrier-free exchange of assets with other blockchains through the AERUM wallet. Users can make transactions within one network or seamlessly with other networks.
AERUM carries out transactions at a speed that is 30-50 times higher than that of Ethereum. The platform provides 2-second block time and 5-second real-time transaction execution. AERUM allows further scalability by creating additional networks using the same decentralized consensus mechanism that allows throughput of 100,000 transactions per second or more.
One of the first partners of AERUM was the CINDX project – it is a trading platform or hub where you can find a highly rated trader whose effectiveness has been confirmed on the blockchain. Traders get a client base to increase income, as well as a marketplace to sell investment products. In terms of the marketplace, the AERUM protocol allows CINDX participants to conduct transactions with zero commission in 5 seconds.
In early October, an agreement was signed with the Veracity project. Both teams are testing the integration of the AERUM protocol with Veracity. Veracity's decentralized protocol verifies and protects physical assets throughout their entire lifecycle. The project protects against counterfeiting and fraud in a variety of industries and provides accurate and consistent information at every stage of the product lifecycle. The project is a leader in the market for protecting art objects from counterfeiting using the blockchain.
Sergey Paramonov, investor of AERUM: «More than 40 thousand transactions are made on Etherium every day. However, Ether's problem is that transactions are very slow and require high fees. The AERUM project attracted me by the fact that its protocol allows you to reduce the transaction time to 5 seconds and make transactions free, in addition, the startup operates in a huge market, because more than 250 thousand developers around the world are engaged in projects on Etherium, who develop more than 1000 decentralized applications.».
Project CEO Alexander Randarevich has been working in FinTech since 2000 as a developer, product manager, architect, and then strategist. Specifically, he served as CTO for international finance startup Rahaxi for 7 years. In his luggage, Randarevich has experience working on projects in cooperation with SEB, Wirecard, Natixis and other major banks.
The project is currently campaigning for further funding as part of the private placement phase and is preparing to launch public crowdfunding in White paper mode..
text: Ivan Malichenko, photo: Aerum official page Facebook.com