InBlock (CEO Sangwoo Chae) is continuing its innovative steps in the digital asset market by issuing ‘Metacoin’, a cryptocurrency based on Hyperledger Fabric, through close collaboration with global IT company IBM. In particular, while Hyperledger Fabric, a private blockchain technology of the Linux Foundation led by IBM, recently added its own token issuance and exchange functions through updates, InBlock has already proven its technological superiority by successfully implementing trading technology for ‘Metacoin’.
InBlock’s ‘Metacoin’ is significant in that it is the first cryptocurrency issued based on Hyperledger Fabric, a private blockchain widely used worldwide. Even IBM was surprised by InBlock’s innovative security technology and assigned InBlock to the presentation session at the ‘IBM THINK 2019’ event. This is a clear example of InBlock’s blockchain technology and the achievements made through collaboration with IBM.
InBlock emphasizes that Metacoin, developed based on IBM’s powerful private blockchain technology, overcomes the structural limitations of the existing public blockchain consensus algorithm and provides enhanced security. In particular, Metacoin’s key feature is that it maximizes security by applying IBM’s ‘LinuxOne’, a mainframe of the international Common Criteria (CC) EAL5+, which is recognized as the highest level of security in the first financial sector, to the cryptocurrency system.
Based on this unrivaled security technology, InBlock is expanding its business into various service areas such as ‘Issue Token’, which allows anyone to create their own issued coins, ‘Meta Wallet’, which allows safe storage of coins, and ‘MetaScan’, a blockchain transaction information recording system, and is contributing to the development of the blockchain ecosystem. InBlock is expected to play an important role in raising the security standards of the digital asset market and building a reliable blockchain ecosystem through continued cooperation with IBM in the future.