Gladstone Arantes, head of blockchain initiatives at the Development Bank (BNDES), gave new insight about the development and technical data of the Brazilian Blockchain Network
Gladstone Arantes, a director of the Brazilian Development Bank , gave new details about the progress of the Brazilian Blockchain Network, a project that has been in development since 2018. The network will be created on top of the Hyperledger Besu 2.0, which uses a proof-of-authority consensus mechanism. The final goal of this project is to move public spending to the network in order to increase the transparency of these fund movements.
Proof-of-authority means there will be no mining on top of the chain, and that state actors will maintain control of the network. This follows the premise of simplifying the operation of the blockchain, so it’s possible to be easily understood by anyone wanting to examine it.Arantes explained that the Brazilian Blockchain Network will serve as a starting point for institutions to build their applications on a trustable platform without having to reinvent the wheel.
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