Blockchain technology is highly innovative and needs to be accelerated. Panasonic and IBM have partnered with Constellation Network to introduce “Blockchain of Blockchains.” The technology is highly innovative. It is a Hypergraph distributed ledger technology that is developed over several years. It promises to revolutionize the way blockchain networks interact and function.
The launching of it is to coincide with Constellation’s Global Metagraph Hackathon, which is a virtual event and to run between July 15 and September 9, 2024. The hackathon offers a platform for web3 and web2 developers to build on the new blockchain. It is to compete for a share of $100,000 in Constellation Network’s cryptocurrency, $DAG. It is learned that the most successful project will be awarded with prize money of $25,000.
Constellation Network CEO Ben Jorgensen highlights the advantage of the Hypergraph technology. He emphasized the importance of interoperability and collaboration across different blockchain networks. The Hypergraph aims to unify the networks to provide a secure as well as interoperable infrastructure to support decentralized AI, tokenized assets, IoT edge computing, decentralized finance as well as other emerging Web3 applications.
The Hypergraph technology introduces concept of “metagraphs.” It can be any type of Layer 1 decentralized application (dApp) network or even legacy Web2 networks. The flexibility allows Hypergraph to support various blockchains. It ensures seamless integration and interaction between different systems.
The partnership also includes some more notable entities such as SIMBA Chain, the C14 cryptocurrency on-ramping service, the Stardust Collective and the National DigiFoundry. The collaborators include members from the US National Science Foundation, the US Space Force and the US Department of the Treasury.
Hypergraph network stands out with its fast and feeless transactions. It is built on a DAG-based infrastructure and microservices architecture.
