Toda.Network Corp and YouBase Inc. form Joint-Venture to Deliver on Blockchain’s Promise of Digital Sovereign Identity Management
YouBase.OT (“On TODA”) Corp is an independent company with unrestricted access to utilizing both technologies
San Francisco, California - Toda.Network Corp. the organization created to foster the growing ecosystem of blockchain companies built on the TODA protocol (“On TODA” or “OT”), is announcing a joint venture with YouBase, a platform enabling the use of individual-centric, private and personal life data across applications.
The TODA protocol enables blockchain projects to deliver on security, efficiency, confidentiality, scalability and interoperability, the 5 fundamentals that define the raison d’être of blockchain technology.
“This joint venture will support our long-term goals including making it easier to build distributed, individual-centric applications on YouBase.OT. Our platform accelerates distributed application development by making it simple for developers to use the tools that they already know,” said Leonard Kish, CEO of YouBase.OT. “Toda.Network accelerates our goals by enabling blockchains to efficiently scale while offering true confidentiality, and most importantly, decentralization for better security.”
Toda.Network supports an ecosystem of companies that are built on the TODA Protocol, or “On TODA” (OT). The TODA protocol is a network protocol, referred to as a blockchain “layer-zero” that works as a foundational layer and serves as an evolution of TCP/IP. In a network topology, TODA would be layer 3 and 4 combined, the same as TCP/IP. This foundation enables blockchains and applications using blockchains to scale to billions of users and handle millions of on-chain transactions per second at near-zero cost.
“TODA is a long awaited response to the exploitation on Bitcoin that began 6 years ago, which lowered the bar so drastically on expectations of the technology. TODA is an ongoing quest to bring the promises of the Blockchain to life,” said Toufi Saliba, co-author of the TODA protocol and CEO of Toda.Network. “Traditional blockchains can either continue to use TCP/IP or realize their true potential by implementing OT.”
YouBase’s current investors include Eric Topol, MD, Founder and Director of the Scripps Translational Science Institute, Shawn Owen, CEO of SALT Lending, and Andrew Hoppin, the co-founder of CoverUs.
The entire round of financing for the joint venture formed between Toda.Network and YouBase was raised in a single effort during a demo on Toda.Day on May 21, where 11 companies showcased their products built On TODA.
“The YouBase team previously completed a pilot with two Toronto companies, Self Care Catalysts and MedChart, to build health assets. We are now expanding that pilot. Self Care Catalysts has 50,000 users. Our goal is to reach a million users on the YouBase platform in the next year,” said Kish. “Partnering with Toda.Network will bring the usability and scalability we need to get there.”
About YouBase.OT
YouBase.OT is a joint venture formed by YouBase and Toda.Network. YouBase creates richer digital experiences by giving individuals sovereignty over their life data. YouBase provides a framework for portable, persistent and private life data across applications on Bitcoin bip32. For developers to build on this data, YouBase makes distributed application development quicker and easier by reducing custom development and allowing developers to use the tools they know and integrate with cryptocurrencies, blockchains and distributed data on a seamless data architecture. Learn More: https://www.toda.network/youbase-ot
About Toda.Network
Toda.Network launched in 2018 to enable projects to deliver on the promises of the blockchain. The company has formed and continues to form and onboard alliances, startups and joint ventures that are building on the Toda.Network. The TODA Protocol is a network protocol and modification of TCP/IP that enables value management and transfer over the packet layer and below the operating system in a fully decentralized setting, without reliance on a ledger. TODA enables businesses and blockchains to efficiently scale as the numbers of users scales. Tested data shows 1 transaction per second (txps) for 800 devices dispersed geographically in a permissionless decentralized setting. This equates to a low of 1 Million txps for 800 Million user devices at only the cost of the network itself, with no leakage to a third party or to a different class of users. This means no miners, no cloud, no database, and no servers - nothing in the middle. Toda.Network’s focus is security first, then efficiency, confidentiality, scalability by design and enabling P2P interoperability with no third party. The TODA Protocol is permissionless, so anyone can build on it. However, leveraging Toda.Network's "know how" is available only to projects with significant potential by either licensing or creating a strategic alliance with Toda.Network