Reltime secure funding for its PoA 5G Node Blockchain Project
By FF Newsroom · 12 December 2023
Reltime, a forefront innovator in blockchain technology, is proud to announce that it has received a significant funding approval from the Research Council of Norway. This endorsement and financial support have been received for Reltime's ground-breaking three-year development initiative on "Using 5G Mobile Handsets as node validators in Reltime's Layer 1 Blockchain for Microtransactions."
In June 2023, Reltime had confirmed that it has performed an initial pilot in using 5G handsets as node validators in its layer-1 Proof of Authority Blockchain and would continue to develop this solution. So, the funding decision from the Research Council of Norway is well-timed. This ambitious project aims to integrate the massive computing and scaling power of 5G mobile handsets (as node validators in a layer 1 blockchain) and revolutionize the use of blockchain in handling microtransactions.
Top 3 Project Highlights:
- Innovative Integration: Utilizing the advanced speed and connectivity of 5G handset technology to enhance blockchain efficiency as Node validators, instead of using traditional servers.
- Enhanced Microtransaction Capabilities: Focusing on the growing demand for swift and secure small-value transactions e.g., IoT, machine-to-machine transactions, rural markets.
- Connect the existing Layer 1 Proof of Authority Blockchain with Mobile handset Node: A step forward in blockchain technology, emphasizing security, speed, and reduced environmental impact.