Yetta announces ICO of European Commission funded Blockchain Research and Development – Blockchain News
Since the emergence of Bitcoin in 2009, governments and municipalities around the world have taken notice and have funded Research and Development to further advance Blockchain technology and to assess its potential within local economies.
The European Union has led the way with Horizon 2020, the biggest EU Research and Innovation program ever with nearly €80 billion in funding. A significant portion of the Horizon 2020 budget has been allocated for the research and development of leading Blockchain technology.
Most notable projects include D-CENT, Decentralized Citizens Engagement Technologies, a Design of Social Digital Currency; DECODE, a Smart Contracts Virtual Machine blueprint for realizing a Decentralized Citizens Owned Data Ecosystem; and PIE NEWS, a social digital innovation for addressing poverty, lack of income, and unemployment.
Leveraging these technologies, the Yetta Blockchain offers keen advancements over both Bitcoin and Ethereum with its Tier-3 Network Node Architecture and Blockchain consensus algorithm, called Proof of Trust (PoT). Other enhancements include multiple wallet types, three levels of irreversibility, multi-signature encryption (CypherSig), and a hundred-fold leapfrog in scalability and transaction speed.
The goal of Horizon 2020 is to ensure Europe produces world-class science, to remove barriers to innovation, and to make it easier for the public and private sectors to work together in delivering innovation. “We are excited about the strategic partnership with the Yetta Foundation to commercialize the Blockchain technology we have developed within the EU,” states Dennis ‘Jaromil’ Roio, the Chief Technology Officer, Dyne.org, the technology development partner for the above cited EU projects.
By coupling research and innovation, Horizon 2020 is helping to foster economic development and to create jobs with its emphasis on excellent science, industrial leadership and tackling societal challenges.
Yetta plans to release the Yetta Blockchain and the Yetta Virtual Machine based upon the DECODE OS. “The plan is to also deploy real-world Decentralized Applications (D-Apps) spanning across the Social and Civic Sectors as well as the Public and Private Sectors,” states Darrell Hubbard, Chief Innovation Officer.
Unlike other Smart Contracts Platforms, the D-Apps Store will comprise a portfolio of decentralized open source smart contracts applications all monetized on a common cryptocurrency, yetta (ÿ).
yetta (ÿ) is a global monetary innovation advancing the current state of the art in digital currency, peer-to-peer payment systems, and decentralized smart contract applications.
yetta (ÿ) is a Hebrew name meaning “ruler of the household,” where, in this context, ruler is money and household is the global economy.
The purpose of the Yetta ICO is to raise funds to transition the current EU funded technology from laboratory to real-world and to support the design, development and deployment of smart contract innovations. “With proper funding, Yetta could lead the next generation of thought and progression in the Blockchain ecosystem,” states Sven Moeller, Head of ICO Advisory, Swisscom Blockchain.
The purchase of yetta (ÿ) entitles the purchaser to membership in the Yetta Foundation and represents a purchase of value in the Yetta Blockchain Proof of Trust Network. To register and to learn how to participate in the upcoming Token Generation Event (TGE), visit yetta.io.
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