Blockstack, a San Francisco-based startup is now building new decentralized apps using its open-source developer platform. The startup company currently working in the stealth mode is developing these apps to store data with the user so that he does not have to take help of centralized databases or servers.
The decentralized network of Blockstack has been created with the aim that there should not be even a single point of control or failure. Thus, the platform build by the startup does not look as if it has been developed by one company but looks similar to a decentralized ecosystem. The startup team used its 25 years of experience in developing enterprise and designing services for big companies like Google and Uber.
The American startup company is now facing its big challenge to accept corporate governance after starting off as a single corporation. At present, the network of Blockcstack uses open-source platform offering open membership and using consensus mechanism.
In its blog post, the company currently working on new decentralized apps stated that it is determined to tread new paths to introduce corporate governance structures so that the goal of a decentralized and robust ecosystem is accomplished.
Some of the initial steps that Blockstack is taking to shift its working towards decentralized governance include the formation of the nonprofit platform, forming an independent US entity, focusing primarily on Blockstack’s PBC activities, and forming and using its Signature Fund to support the development of its decentralized ecosystem, Blockstack reported.
At present, the platform supports several blockchain protocols such as Credits, Hyperledger, EOS, and Hedera Hashgraph. Blockstack gets rid of the requirement to organize various infrastructures and nodes for building the decentralized applications, the Bitcoin Exchange Guide reported.
New decentralized apps that are built on this platform can help save data on several blockchains with its additional utilities such as user management, notifications, KYC/AML, and analytics. Since in a decentralized ecosystem no one owns the blockchain, it is possible for a user to walk off with his blockchain.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]