Scallop Chain: Built on Cosmos and Secured by Biometric Bridge
Last updated
Last updated
DappRadar that the first quarter of 2023 saw a loss of $373 million due to hackers and vulnerabilities. Despite this significant figure, it is worth noting that it is only a small portion of the $5 billion stolen in the previous quarter.
In a world where data breaches and identity theft are too common, Scallop Chain stands out as a unique solution offering digital self-sovereignty. With Scallop Chain, users can maintain secure access control to their data while enabling safe interactions between different organizations and devices.
What sets Scallop Chain apart from other blockchain ecosystems is its use of biometric bridge technology for authentication. This groundbreaking feature connects biometric data to a user's digital identity on the blockchain, providing a more secure and streamlined process for accessing and managing data.
Instead of relying on traditional authentication methods, Scallop Chain connects biometric data to a user's digital identity on the blockchain. This allows for a more secure and streamlined process, providing peace of mind to users. With our cutting-edge technology and a strong focus on security, Scallop Chain is paving the way for the future of blockchain authentication.
Furthermore, Scallop Chain is built on the customizable and interoperable network, making it a flexible and scalable ecosystem that allows for custom blockchain applications to be developed quickly. It is also EVM compatible, enabling developers to use Solidity, the most widely used smart contract language on Ethereum, to create decentralised applications (dapps) on Scallop Chain.
Cosmos is known as the "Internet of Blockchain," and it stands out from other crypto blockchains due to its two core concepts- interoperability and customization. The interoperability allows these blockchains to communicate with each other and work together effectively, while customisation offers the ability to tailor blockchains to specific needs. In creating a decentralized yet optimized ecosystem, Cosmos aims to build networks that can manage multiple crypto blockchains efficiently.
With its unique features, Scallop Chain is often called a "bank on a chain" as it offers banking capabilities to retail and business customers. By providing robust regulation and control, Scallop Chain is shaping the future of banking and enabling users to manage their digital assets securely. Some of the unique features are:
Regulated: Scallop Chain is the first blockchain to be regulated, integrating KYC and AML modules in its consensus mechanism.
Fast: With Byzantine fault tolerance patch, Scallop Chain provides consistently secure and blazingly fast performance.
Scalable: The use of ZK-Rollups enhances the network's scalability, allowing for faster and more cost-effective transactions.
Interoperable: As it is built on Cosmos, Scallop Chain is highly interoperable, enabling easy communication and exchange of information and assets with other blockchain networks.
Secure: ZK-Rollups add an additional layer of security and privacy to the Scallop Chain, which is critical for safeguarding assets.
Financial technology developers can take advantage of Scallop Chain's regulated banking capabilities to build secure and transparent banking apps that comply with relevant regulations and laws. Additionally, developers can create SCLP-based crypto tokens that utilize decentralized storage and management features, enhanced security, and transparency. Scallop Chain's multichain Dapp capabilities provide unlimited scalability and interoperability, making it an ideal solution for the ever-evolving world of financial technology.