ChronoBank announces technical partnership with Emercoin
The time-based cryptocurrency initiative will be working closely with the Emercoin team across a number of key areas to bring added value to both parties.
ChronoBank, a blockchain project designed to disrupt the short-term recruitment sector by connecting employers with those selling labour, will be partnering with Emercoin — a well-known and established cryptocurrency platform — across several elements of shared interest.
Emercoin offers diverse blockchain services for businesses and individuals, providing a wide range of facilities that increase transparency, security and reliability. ‘ChronoBank recognises the contribution that Emercoin is making to the blockchain infrastructure that will in future underpin many varied applications, and looks forward to leveraging that knowledge and capability for our own business,’ commented Sergei Sergienko, CEO of ChronoBank. Reflecting the importance of Emercoin to the ongoing success of the project, ChronoBank is now accepting the EMC currency as part of their crowdfund, with the intention of holding it on a long-term basis and working together to bring greater value to it.
Areas of collaboration
ChronoBank will be working with three separate elements of the Emercoin platform, each of which brings something new and valuable to the project. Additionally, Emercoin will consult with ChronoBank concerning advanced financial instruments.
emcSSL is a scalable infrastructure for passwordless authorisation of web services. Certificates are created locally, with the blockchain acting as a decentralised trust store for hash sums. This unique approach means that emcSSL is immune to system-wide disruption caused by technical failure or malicious attack. Neither is it possible for a single authority to interrupt activity for users.
emcSSH provides a bridge between OpenSSH and the Emercoin blockchain, allowing for secure and decentralised management of public key infrastructure (PKI). OpenSSH can be configured to retrieve SSH credentials from the Emercoin blockchain, which can either be managed directly by users, or managed on behalf of a group by administrators in charge of specific services.
emcDNS is a new service that enables the storage of universal name-value pairs on the blockchain, in broadly the same way that NameCoin does (though without the specialisation on .bit extensions). Emercoin also supports distributed DNS services, and every Emercoin wallet contains a built-in DNS server.
‘Working with Emercoin to implement and further this suite of blockchain-based technologies will put ChronoBank in a very strong position to decentralise our infrastructure and provision of our services to the greatest extent appropriate — with benefits for up-time, security and confidence,’ comments Sergienko.