SAN FRANCISCO, March 26, 2019 /PRNewswire/ -- TOP Network, the world's first blockchain powered cloud communications network with over 60 million users, and Algorand, a new foundational pure proof-of-stake blockchain platform, have entered into a strategic partnership to collaboratively research and develop scalable blockchain services and infrastructure components on the public chain platform.
"The partnership between TOP Network and Algorand is beneficial for both parties," said Silvio Micali, Turing Award winner, and founder of Algorand. "TOP Network's progress at building service-level applications complements the foundational academic research and theory that Algorand has transformed into a decentralized, scalable and secure pure proof-of-stake consensus platform. We look forward to working together with TOP Network to develop new, scalable blockchain solutions that can deliver the potential of blockchain technology to the masses."
Powered by its high performance blockchain and business-level components, TOP Network offers a wide array of cloud communications services to applications, such as messaging, calling, VPN, CDN, IoT data sharing and more. These functions are powered by service nodes, which will be incentivized by massive transaction volumes brought from the porting of three successful pre-existing DApps developed by the TOP Network team. Dingtone, a social VoIP app, CoverMe, an end-to-end encrypted messaging app, and SkyVPN, a virtual private network app, will bring 60 million users to the ecosystem. The Algorand platform will have access to these pluggable decentralized cloud communications services, and they will also gain access to a massive user base to help jumpstart adoption of the protocol.
"The partnership between TOP Network and Algorand marks the beginning of a fruitful relationship," said Steve Wei, founder and CEO of TOP Network. "With Algorand's strong research approach, and TOP's robust pre-existing user base along with blockchain powered cloud communications infrastructure, we can work together to provide reliable and powerful real-world solutions."
About TOP Network
TOP Network is a decentralized, open cloud communications network powered by blockchain technology. TOP Network offers low-cost, privacy preserving, and secure cloud communications services such as messaging, calling, VPN, CDN, IoT data sharing and more.
TOP Network also functions as a general purpose high performance public blockchain, designed to handle real-world businesses of any size, catagory or volume. Powered by innovations such as a three layer network architecture, two-layer sharding with DPoS-PBFT consensus, and a two-layer Block-Lattice DAG structure, TOP Network scale to hundreds of thousands of on-chain transactions.
TOP Network was founded by serial entrepreneur Steve Wei and his colleagues in late 2017. Steve was one of the earliest employees of WebEx in the 1990s. After WebEx, he founded a successful video conferencing software company which was acquired by Huawei in 2010. In 2012, Steve co-founded Dingtone, a publicly listed company operating popular communication apps such as Dingtone, CoverMe and SkyVPN. These apps, having attracted over 60 million users in total, will be ported to TOP Network upon the launch of TOP's public-chain, generating huge volumes of transactions in the TOP ecosystem.
TOP Network has closed $11 million in private investments from prestigious institutional and individual billionaire investors, including DHVC, Fenbushi Capital, NEO Global Capital (NGC), Ontology Global Capital (OGC), LD Capital and more.
Algorand is building technical innovation for the Borderless Economy. Its pure proof-of-stake protocol is the first-of-its-kind to support the decentralization, scale and security needed for billions of users to build opportunity and fulfill the promise of blockchain technology. Led by a team of luminaries from academia and technology, Algorand also has proven business leadership and is backed by innovative firms such Pillar, USV, and more, representing a broad based, global investment group.
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