Japanese blockchain startup Chaintope launches Tapyrus, an open-source public blockchain to mitigate governance issues

FUKUOKA, Japan, Nov. 14, 2019 /PRNewswire-PRWeb/ --AChaintope Inc., a Japanese blockchain startup, has launched a public blockchain protocol named 'Tapyrus', pioneered by the in-house development team led by Chaintope's renowned Chief Technology Officer, Shigeyuki Azuchi. Tapyrus is open source and available from today.Over the past few years, the number of blockchain-powered applications has been increasing, but the underlying technologies have unsolved challenges. Bitcoin, for instance, is probably the most decentralised blockchain among other public and private chains. However, having a decentralised network without a proactive central authority makes it difficult to add new functionality or to completely recover from unexpected incidents. Also, public blockchains which allow anyone to participate in verification and block generation are struggling with slow transaction speeds and privacy concerns.To avoid these major constraints of public blockchains, many organizations opt to implement private blockchains whose network accessibility is limited to permissioned participants. Governance, in the context of private blockchains, is in fact better understood and therefore more manageable than in public blockchains. However, some technical advantages that public blockchains are generally known for, such as transparency and resistance to data falsification, are neglected.Tapyrus is therefore designed to overcome these governance-related challenges. While maintaining permissionless participation and data transparency, a platform built on Tapyrus can be effectively operated by selected federations. The rest of the network participants are able to verify and view transactions recorded on blocks, which prevents federations from tampering with protocols or data within their network. This type of governance was found effective through an ongoing Proof of Concept conducted by Chaintope in the Malaysian supply chain industry. For example, suppliers, shippers, and retailers serve as federations who are responsible for item data while consumers are able to verify the data with a mobile application. By launching this new type of blockchain, Chaintope intends to assist businesses and organisations in moving their blockchain experimentations forward to the next stage across industry.Additionally, Tapyrus allows various new types of functionality to be added according to specific business needs. Chaintope's blockchain solutions work together to form a multi-layer protocol in which traceability and transaction speed are greatly improved, while at the same time solving the governance problem a?? things which were previously mutually exclusive.
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