Introducing Ayetu: A Robust Financial Layer for Users Across Africa

Introducing Ayetu: A Robust Financial Layer for Users Across Africa

As 2024 ramps up, we’re looking forward to everything that the year has in store for GoodBlock’s robust suite of Web3 products. With that in mind, we’re excited to unveil the branding and roadmap for the Africa-based blockchain project, Ayetu! In this update, we’ll be diving into what Ayetu is and the inspiration for the branding, as well as diving into what our community can expect to come out of the project in the coming months.

Ayetu: Making Financial Services Accessible to Everyone Across Africa

Ayetu, is a private blockchain, designed to serve as a settlement layer for financial transactions across the continent of Africa. It combines GoodBlock’s leading infrastructure with an enhanced version of the Antelope tech stack in a way that allows financial applications to be built in compliance with local regulations across Africa.

The goal of this is to create a fairer financial system for users across Africa. It was this goal that inspired the name Ayetu. Yetu means “our” in Swahili, with the A in the name standing for Africa. So, Ayetu essentially means “our Africa”, a fitting name to a project that aims to create more equitable financial tooling for communities in countries across the continent.

This branding kicks off a new era for the project. One that begins with a heavy focus in Nigeria, where much of the project’s core team is based. The team is also currently undergoing an executive search for a CEO that can help take Ayetu to the next level.

Unveiling the Ayetu Roadmap

The most exciting news this week has been the release of the Ayetu roadmap, presented by the core Ayetu team. The presentation covered six critical areas that will be focused on in the coming months:

  • Partnerships
  • Core Protocol Improvements
  • Web Interfaces
  • The Mobile Super App
  • The Ayetu Token Bridge
  • The No-Code App Development System
  • Exchange Launches

Check out the video below to learn more about the mission of Ayetu and for an in-depth look at the roadmap for the year ahead. It’s going to be an extremely exciting year for the entire Ayetu community!

Work is Ramping Up Quickly

The team is concentrating on what will be critical to complete in the first two quarters, with the efforts deepening throughout the second half of 2024. Progress is well underway, with the team working tirelessly over the past several weeks on a website, block explorer, and whitepaper.

There are already a number of partners beginning to integrate their projects with the Ayetu technology. Kanda Weather has been deployed and is recording atmospheric data on-chain. Additionally, GreenEarth Agro’s Ghanaian Regenerative Agriculture project is already recording agricultural and IoT data.

Partnerships have also been announced with LazyLabs, formerly known as Fortis, to develop the Mobile Super App, as well as Detroit Ledger Technologies, who will build out the Ayetu Block Explorer. 

GoodBlock is excited to be involved in Ayetu as an technical and infrastructure partner. The technical team at GoodBlock has been working steadily to build out our robust Privacy API and PII servers, as well as our easy-to-use interfaces.

An Exciting Year Ahead for Ayetu

With the new branding officially unveiled and a robust roadmap released to keep the project on track, it’s going to be an epic year for the Ayetu community. Together, with help from our key partners, there will be a lot more announcements released and milestones reached in the coming month.

Learn more about Ayetu by heading to Ayetu.net, connect with the community on Telegram and stay in the loop on upcoming announcements by following Ayetu on X. While you’re at it, don’t forget to follow GoodBlock on X for more updates on Ayetu and all of our other Web3 projects. We’re happy to have you along for another year of building innovative solutions for some of the world’s most pressing problems.

GoodBlock Partners With KOY Network: Bringing Scalable Financial Infrastructure to Africa

GoodBlock Partners With KOY Network: Bringing Scalable Financial Infrastructure to Africa

GoodBlock Partners With KOY Network: Bringing Scalable Financial Infrastructure to Africa

GoodBlock® is excited to announce their partnership in the upcoming launch of the KOY Network. KOY Network is Africa’s super computer, a distributed financial infrastructure, powering trade through payments, logic and other digital services. GoodBlock’s CEO, Douglas Horn, will be working in the role of CTO for the network, with GoodBlock offering technical support as the network evolves.

It’s an extremely exciting time for the KOY Network, with the Antelope Access program open for the foreseeable future. To celebrate this epic milestone for the ecosystem, GoodBlock is running a contest on our Twitter! Stick around to the end of this article to find out how you can win part of a 2000 KOYN prize pool!

Please note that nothing in this article should be construed as financial advice.

How KOY Network is Revolutionizing Digital Infrastructure in Africa
The KOY Network is positioning itself to solve some of the biggest financial problems in countries across the continent of Africa. Historically, the continent of Africa has been left behind by traditional banking systems despite the large amount of wealth created in the nation’s natural resources. Instead of the efficient banking system that Western countries are familiar with, the financial system in Africa is made up of a series of fragment monopolies across local jurisdictions, which benefit the companies providing the financial services, rather than the people using those systems. The user experience of these systems are also lacking, relying on old cellular networks, dated technology and long settlement times.

KOY Network aims to overcome these challenges, bringing cutting edge financial infrastructure to users across the continent. By operating as a private blockchain protocol, based on the powerful Antelope tech stack, KOY Network will allow local financial service providers to build financial applications on top of it, which abide with varying local jurisdictions. The network will then tie together numerous local economies across the nation in ways that have never before been possible. With the continent of Africa being home to the youngest population worldwide, KOY Network aims to capitalize on the opportunity to introduce leading financial services to young people across the nation.

“Africa is absolutely ready for the leap forward into Web3 commerce,” said Betty Waitherero, founder of GreenTrace.io. “Being the first chain built specifically for the African continent, I am hoping to see businesses that are built by African developers that specifically meet African needs and can work in our emerging economies. I see Koy Network providing the tooling and infrastructure to bring communication, financial technology and online economies to life for African people.”

How GoodBlock Designed the World’s Fastest Blockchain on KOY Network
GoodBlock is excited to be a part of the KOY Network launch team with GoodBlock’s CEO, Douglas Horn working in the position of the network’s CTO. With a strong background in both technical infrastructure and Web3 development, as well as a notable involvement in the launch of several groundbreaking blockchain projects, GoodBlock is well positioned to ensure that KOY Network emerges as a leading example of what is possible when cutting edge technology is combined with impactful real world use cases.

“Over the past 5 years, I was working on Telos, and we made a lot of functional economic innovations there. But those were solving the problems of 5 years ago,” noted GoodBlock CEO, Douglas Horn. “The problems of today are much different, and being able to use what I’ve learned over the past 5 years is an exciting opportunity. KOY Network is a really cool economic tool that allows us to solve a lot of new problems that would not be possible in any other system.”

A key part of GoodBlock’s role has been designing the technical infrastructure the KOY Network will run on. Of all Block Producers across the entire Antelope ecosystem, GoodBlock has the fastest validator available. This was achieved through a combination of leading hardware components and innovative software refinements.

On KOY Network, the GoodBlock team is able to take things to the next level, thanks to its private design. With public Antelope blockchains, throughput needs to be optimized to accommodate the speeds of the slowest node on the network. This puts a significant ceiling on the network’s ability to scale effectively. Because KOY Network is a private network, all nodes can be optimized to the maximum specifications for effective throughput.

The GoodBlock team plans to implement similar design choices to their public Antelope node across all private nodes on KOY. With this in mind, the team estimates that the KOY Network will be up to 4x faster than any other Antelope network. The team will also have the ability to prove this through dedicated mainnet tests as opposed to the testnet tests that other networks utilize. Additionally, this will be showcased with sustained speeds. The goal of all of this is to achieve the accolade of world’s fastest blockchain.

The Unique Economic Advantages of KOYN Utility
GoodBlock has also been heavily supporting the network through tokenomic design for its native token, KOYN. Under Horn’s leadership, the team has developed a series of notable economic improvements that will set the network apart from other economic systems, both in Web3 and traditional finance.

Perhaps the most notable design choice when compared to other Antelope chains is that KOYN is not an inflationary token. There is 1 Billion KOYN in existence and there will always be only 1 Billion KOYN. A key reason this is possible is because, unlike most other networks, KOYN is not utilized as payment for network validators. Instead, service providers will pay KOYN Network outside the system for the network resources. This allows the value of KOYN to be dictated strictly by its unique utility and not as a means to pay infrastructure providers.

The utility of KOYN is quite unique in that it acts as an atomic intermediate trading token for value exchange between local currencies in Africa. Again, thanks to the network’s private design, the economic system is able to achieve new functions that are not possible on public blockchains, with transaction rewards being returned to token holders through staking rewards. Also unique to KOYN is a fund where, every day, KOY Network sets a daily price for KOYN, based on government exchange rates in local jurisdictions across Africa. This fund will then be available to buy back KOYN at 5% below the daily exchange rate. This is part of an automatic fund that will grow overtime in order to maintain reserves for this function. This greatly reduces the volatility of KOYN, making it even more effective from a utility standpoint. Between the lack of an inflationary mechanism, the ability to sell KOYN back to the network at any time, and an attractive staking rewards program, GoodBlock designed KOYN to stand out when compared to other network tokens.

KOYN Token Fair Sale
We’ve had many people in our community and the Antelope ecosystem asking how they can acquire the KOYN token that powers the network. The KOY team is currently running a token presale to allow those interested to access the token at a competitive rate.

In order to honor the founders roots in the Antelope ecosystem, the team is running #AntelopeAccess, a program where people can join the KOY Telegram channel and swap their Antelope based tokens for KOYN. Once that program ends, a token sale – called Fair Sale – will be opened up from the KOY Network website, which will take USDT from the Ethereum blockchain.

Join the #KOYNLaunchParty for a Chance to Win 200 KOYN!
To celebrate the launch of KOYN and GoodBlock’s involvement in the upcoming launch of the network, we are running a contest for our community! We will be giving away 10 prizes of 200 KOYN.

Here’s what you need to do to enter for a chance to win:

  • Go to koy.network and learn all about what makes KOY so unique.
  • Head to our X Profile and find our pinned Tweet: https://twitter.com/GoodBlockio/status/1706794428139032703
  • Like the Tweet.
  • Comment on the Tweet and Tag 3 Friends.
  • Quote Tweet the Tweet, and write what you love about KOY Network with the hashtag #KOYNLaunchParty.

Each action will grant you one additional entry in the contest, which will run from September 26 to October 3 at 4:00pm UTC, and winners will be announced on October 6.

The #KOYNLaunchParty is Just Getting Started!
We hope our community is just as excited as we are for this new milestone in Antelope innovation. GoodBlock is grateful to be a part of such an epic project alongside a talented community of builders. Stay tuned for more articles soon where we’ll be diving into both the economic design and technical advantages of the KOY Network, as well as the massive impact it will have on the continent of Africa.

Don’t forget to take part in the #KOYLaunchParty contest for a chance to win 200 KOYN. If you don’t win, those interested will still be able to acquire KOYN through the KOYN presale which is coming soon.

Be sure to follow GoodBlock on Twitter to stay in the loop on all the latest news from KOY Network, dStor, decide and more.

GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance (decidevoter.app) and Decentralized Cloud Storage (dstor.cloud). Vote for goodblocktls, and learn more at goodblock.io.

KOY Network is a distributed ledger system designed to support smartphone apps serving Africa and its diaspora situated across the globe. Learn more at koy.network.

GoodBlock Website: https://goodblock.io/
KOY Network Website: https://koy.network/

GoodBlock Social Media:
GoodBlock Twitter: @goodblockio
dStor Twitter: @dStor_cloud
decide® Voter App Twitter: @decide_Voter

Medium: https://medium.com/goodblock-io
LinkedIn: https://linkedin.com/company/goodblock
Telegram: t.me/goodblocktls

KOY Network Twitter: @KoyNetwork

 Disclaimer:
The information provided in this article is for informational purposes only and should not be construed as financial or legal advice. Investing in cryptocurrencies and blockchain projects involves risks, and readers are encouraged to conduct their research and seek professional advice before making any financial decisions. GoodBlock and KOY Network do not endorse or provide investment recommendations for any specific cryptocurrency or token.

 

AWS Outage Causes Huge Revenue Loss

AWS Outage Causes Huge Revenue Loss

On Tuesday, June 13th, Joshua St. James, co-owner and chef at Valiant the Sandwich in Salem, Oregon received some terrible news on his day off. His leads informed him that their online system wasn’t working, and they were having all kinds of problems. Little did they know, Amazon Web Services had crashed, and they were among thousands who were impacted. The outage lasted several hours.

Valiant the Sandwich opened in May 2020, “in the middle of a freaking pandemic,” as St. James puts it. The restaurant features gourmet sandwiches, a rotating menu, and a full bar. Early in the pandemic, St. James worked 14-hour days, prepped and cooked the food himself, while manning the counter. They’ve been popular since the beginning, and online orders have always been a major part of their business. Due to the centralized nature of Amazon Web Services and the vast number of entities that rely on them, an outage from the central hub can have wide sweeping impacts.

“I didn’t know it was an AWS issue,” St. James said. The outage took place right in the middle of lunch time at the local sandwich shop. On the weekend, most orders are in-house, but in the middle of the week about 50% of their lunch orders are online — and they weren’t coming in. Valiant’s website is hosted by Toast, a point of sale (POS) service which is running on AWS.

When St. James looked online, he wasn’t able to place an order. He explained, “Online orders at lunch on a Tuesday are crucial. Half of the orders at the particular time of day are online orders, so the revenue loss is significant. It created a massive issue for that particular day.”

He also could not get in to ensure the third party orders, like DoorDash, GrubHub and UberEats, were coming through. “When I called the service desk at Toast, they couldn’t even look at my account. They had no idea what was happening. They couldn’t see anything on my end or do anything for anybody,” St. James reported. Wondering if others were suffering the same, St. James contacted a few other colleagues around town who also used Toast, and they were all having the same trouble.

“For us on the west coast in the middle of lunch time… there’s thousands and thousands of restaurants that use this service.” (62,000 in the US, as of March 2022.) Even if places had a 10% reduction, as opposed to a 50% reduction [in revenue], that’s a massive amount of loss,” he said.

Restaurants often have pretty slim margins as it is. “They have staffing they have to pay for, and they need every one of those sales. Especially restaurants like ours — we never had a lot of money behind us, and that rolls into payroll….Even $500 makes a difference in a restaurant like ours,” St. James disclosed. The restaurant’s payroll was due to come out that week, as well, adding additional stress.

Toast has redundancies built in for outages, which is great for online orders, but St. James couldn’t even get into the backend to assess or make a plan. He never expected he would have to worry about this kind of downtime. “Those of us that have been doing this for a while oftentimes fix things with the tools that we have, but that eliminated any other tools that we had,” he said.

When asked about choosing a different provider, he said there are no options. “It’s pretty much the industry standard — that particular company, they’re some of the best,” he said. There are other POS processing companies, such as Square, but like Toast, they are attached to AWS. “For them it’s a bigger issue because they’re the ones that really don’t have any options, but that, in turn, hinders what kind of protection they can offer,” St. James concluded.

Compared to large corporate entities, the implications of this sort of disruption are incredibly significant for small businesses. Those are the risks businesses are currently accepting when depending so heavily on a single tech giant. Which is why many are currently seeking decentralized alternatives in the world of Web 3, such as solutions integrating blockchains in the Antelope Coalition, which boast greater security, privacy and control of data.

Antelope coalition chains, Telos, the UX Network, WAX and EOS all have documented TPS (transaction per second) speeds ranging from a minimum of 4000 TPS to over 30,000 TPS. In addition, the Antelope Coalition has the benefit of Trustless IBC (inter-blockchain communication) which can provide unlimited TPS and scalable solutions via horizontal scaling. These are the numbers needed for a POS system to work effectively in the real world. With Trustless IBC, app developers are now building high-performance solutions in the Antelope Coalition.

Because of the fundamental technological nature of Web3, the Amazon crash that negatively impacted so many businesses like Valiant the Sandwich on June 13th, will become a thing of the past for businesses utilizing apps built with technology similar to what is being built by developers in the Antelope Coalition.

 

 

GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance (decidevoter.app) and Decentralized Cloud Storage (dstor.cloud). Vote for goodblocktls, and learn more at goodblock.io.

Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the EOSIO codebase.

GoodBlock Resources and Social Media:

Website: https://goodblock.io/
Twitter: @goodblockio
Medium: https://medium.com/goodblock-io
Telegram: t.me/goodblocktls

 

Leaping forward on EOS Independence Day

Leaping Forward on EOS Independence Day

We’ve got a very special episode of Around the Block for you today! Join Douglas Horn and several key leaders from each network in the Antelope Coalition; Yves La Rose from the EOS Network Foundation, Guillaume Babin-Tremblay from UX Network and Lukas Sliwka from WAX network. This is the first time all leaders have sat down to talk in this format and it’s an important time as today marks EOS Independence Day! Today the EOS network officially upgrades to Leap 3.1 and takes control of their codebase as a community.

We’ll talk about the launch of Antelope Leap 3.1 and how this marks the beginning of a new era for all Antelope powered blockchains. On top of discussing the current upgrade to Leap 3.1, we chat about what this means for the future of all our respective blockchains and what the community can look forward to!

Follow Antelope.io on Twitter: https://twitter.com/antelopeIO
Follow Yves on Twitter: https://twitter.com/BigBeardSamurai
Follow Guillaume on Twitter: https://twitter.com/eostitanBP
Follow Lukas on Twitter: https://twitter.com/LukasRepublic
Follow Douglas on Twitter: https://twitter.com/Douglas_Horn

More on EOS Independence Day
What Antelope means to the community
More on Antelope’s website
Leap 3.1 features

Crypto BS:
More on the Ethereum Merge
Why finality increased after the Merge

Special thanks to the team at Corduroy Earth for producing this video, vote for their BP, Telosculture on the Telos Network!

GoodBlock is hiring! Check out open positions at goodblock.io/careers

GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance  and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.

Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.

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GoodBlock Resources and Social Media
Website | Twitter | MediumTelegram

 

Antelope.io Announced at Last!

Antelope.io Announced at Last

In this episode of Around the Block, join Douglas, Erika, Leah, and special guest Daniel Keyes from EOS Nation and Pomelo. They’ll tell you all about the newly-named Antelope codebase. And you’ll hear about all the latest from Pomelo too!

LINKS:
Follow Daniel on Twitter
Follow Pomelo on Twitter 
EOS Nation
Check out Pomelo
About Public Goods
Learn more about Quadratic Funding
All about Antelope 
Antelope Press Release
Antelope Announcement with Douglas

Crypto BS:
Chasing Down Tornado Cash On Tornado Cash Sanctions
More on dev arrest

Special thanks to the team at Corduroy Earth for producing this video, vote for their BP,  @Telos Culture  on the Telos Network!

GoodBlock is hiring! Check out open positions at goodblock.io/careers

GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance  and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.

Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.

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GoodBlock Resources and Social Media
Website | Twitter | MediumTelegram