Bison Trails, a blockchain infrastructure platform-as-a-service company, is working with Provenance to enable secure participation in its public proof of stake network that enables traditional financial institutions to offer blockchain services.
Provenance is a decentralised, open source, proof of stake blockchain designed specifically for real world financial applications such as home lending, banking, payments, fund management, and equity management and trading. Bison Trails is supporting Provenance by providing secure validator infrastructure for those interested in participating in the network, and supporting the growth, security, and adoption of the chain. Bison Trails has deep expertise in the Tendermint ecosystem, supporting multiple Tendermint-based chains including Cosmos, Terra, Oasis, and Crypto.org.
“We’re excited to collaborate with Bison Trails, a leader in blockchain infrastructure, to provide infrastructure to Hash holders to run validator nodes on the network,” says June Ou, Executive Director at Provenance Blockchain Foundation.
“We’re proud to support Provenance in its mission to transform the financial services industry for the better,” says Joe Lallouz, CEO of Bison Trails. “The launch of Provenance to a public Tendermint blockchain opens the door for the growing adoption and new applications of blockchain technology in financial services. With our secure, reliable infrastructure, and strong experience with the Tendermint ecosystem, we make it easy for Hash holders to participate in this innovative new network.”
Participants stake Hash, the native token, to run a node on Provenance. Hash is both the means of payment for transactions as well as a method of governance of the blockchain, meaning the many numerous financial marketplaces leveraging Provenance hold Hash in order to interact on the blockchain.
Provenance is a blockchain built to facilitate marketplaces and exchanges for buyers and sellers of digital assets. It reduces third-party intermediation and internal staffing costs while promoting greater transparency and liquidity, allowing for new kinds of financial engineering and business opportunities.
