Everex, a FinTech and Blockchain development company, is launching its latest venture. This new venture is called Chainy, and it joins the other three products that Everex developed so far – Cryptocash, Ethplorer and the Everex Wallet. Chainy will help advance Everex’s stated goal of filling in the gap in the financial system, to make it cheaper, more accessible and more secure.
What is the Chainy Blockchain Signature Engraving Dapp?
Everex is launching the Chainy Dapp on the Ethereum blockchain. This Dapp will basically allow users to permanently engrave information on the Ethereum blockchain. That information will remain unchanged on Ethereum until the blockchain is extinct – if it ever disappears. The advantages of using an independent Dapp such as Chainy to engrave critical information on a blockchain are the following:
- Tamper proof engraved information will always remain on the blockchain, preventing phishing attacks through short links – AEON short links.
- This Dapp will provide proof of existence. This feature is especially important when users want to check a signature for example – which in this case would be engraved in the blockchain.
- Users will also be able to engrave a message on the Ethereum blockchain and encrypt it so only certain other users will be able to see it. This message will remain on the blockchain eternally.
Chainy will be able to survive Everex
Chainy is an independent, smart contract issuing Dapp. This means that it is designed to survive Everex should something happen to the company. the Dapp will remain active on the Ethereum ecosystem no matter what happens to Everex. In the event that something happens to Everex or if the company decides to abandon the Chainy project, all the information that users engraved using the Dapp will remain available through open source viewers or the Ethereum API.
Chainy is a very useful Dapp for the smart contract era. It will help the trustless nature of blockchain transactions, specifically on Ethereum. Any user will be able to check signatures, links and messages in a secure way. They will be able to check this using signatures on the Dapp for instance. If the implementation of tis Dapp succeeds, Everex might even see the benefit in adapting the features of this Dapp to other blockchains. The concept is clearly not limited to Ethereum, and it can bring the same benefits to users of other blockchains.
Click here to read more about how to use Chainy.