[PRESS RELEASE – BVI, September 22, 2021]
Blockchain platform Xfinite has announced its collaboration with Algorand Foundation, to build trust with public and permissionless infrastructure for a borderless economy. Xfinite and Algorand Foundation both have the mission of building an inclusive ecosystem, improving the way people interact with blockchain solutions.
Algorand Foundation aims to enhance blockchain development by leveraging its protocol and open-source software to reduce the barriers to blockchain adoption. Algorand’s technology gives everyone the opportunity to benefit from a scalable, fast, and trustworthy ecosystem combining a strong collaborative community with technology companies, developers, and users of the platform. Its consensus mechanism is pure proof-of-stake (PPOS), bringing even more security, speed, and sustainability to online transactions. Algorand is a world leader in carbon-negative technology. It also allows users to make payments at lower fees in a fraction of time.
It comes along with Xfinite’s vision to encourage blockchain mass adoption and revolutionize digital media, through innovation using customer experience, data-driven engagement, and ecosystem economics to support community growth. With this major partnership, Xfinite is developing modern and unique use cases running on blockchain technology. Using the technology behind Algorand, Xfinite can support brands and creators, offering a new way to interact with their consumers, whilst the audience is rewarded for consuming high-quality content. The Xfinite Entertainment Token, XET, is designed to reward Xfinite’s users and creators through tokenizing engagement and creating a circular economy. XET has been listed on MEXC on 15th, September 2021.
Algorand offers features such as Algorand Standard Assets (ASA), a standardized Layer-1 mechanism to represent any kind of asset on Algorand’s blockchain. That means fast, secure, and low-cost operations like never seen before, once they are built directly into Algorand’s Layer-1. Through this robust blockchain, Xfinite reduces common challenges in the market like bad processes, intermediaries, fees, and delays, creating an incredibly efficient platform for users and organizations.
Xfinite is a blockchain-based platform designed to re-establish trust between consumers, content creators, and publishers. The Xfinite ecosystem helps the media and entertainment industry combat advertising fraud by increasing transparency and creating a new habit of engagement. Xfinite has established various partnerships with global corporations in order to drive innovation and create new use cases for blockchain technology. Recent partnerships include Dailyhunt, SpiceJet, and Eros Now.
About Algorand Foundation
The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.