Nuco Builds Tokenized Blockchain 'Bridge' for Enterprise Applications

Nuco, a startup founded by a group of former Deloitte employees, has released a new white paper detailing its latest blockchain initiative.

Jul 17, 2017 at 1:00 p.m. UTC
Updated Sep 11, 2021 at 1:32 p.m. UTC

Nuco, a startup founded by a group of former Deloitte employees, has released a new white paper detailing its latest blockchain initiative.

Dubbed Aion, the proposed technology aims to connect different blockchains, including private networks operated by enterprises. The idea is that, as more companies turn to the technology for a variety of applications, there will need to be a public layer through which these future networks can communicate – and that's where Aion comes in.

As the white paper outlines, Aion would act as a kind of "bridge" between those networks, serving as "a mechanism to transfer data and value securely between them." Aion, as a public blockchain, will utilize a token aimed at incentivizing the various parties involved in both validating transactions and putting up the resources to transact between the different networks.

The paper explains:

"The AION 1 itself can be used to deploy decentralized applications on, as well as will maintain a public record of transaction between bridges. Essentially, facilitating a network that is to blockchains what the internet is to computers."

Aion's public nature is notable among enterprise-facing solutions on the market today, which have tended toward private, permissioned networks in which only approved parties can participate. Aion's "Connecting Network", according to the paper, would link both private and public networks alike.

Nuco also details a built-in governance structure that functions by way of a voting system, with the aim of creating "a truly democratic government" through which proposals can be made and weighed by nodes connected to the network.

The release of the white paper comes just over a year after the team founded Nuco, which grew out of Deloitte's internal blockchain efforts. Since then, the startup has inked several partnerships, including one with the TMX Group focused on creating a blockchain-powered natural gas exchange.

Bridge image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
The Curious Case of Coinbase's India Communications Strategy

Reverberations remain from the company's ill-fated Indian launch.

Reverberations remain from the company's ill-fated Indian launch.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Asia: Crypto Carbon Trading Is Racing to Clean Up Its Act; Cryptos Drop Even as Stocks Rise

Carbon credit protocols have had a difficult time in recent months but have been working to improve the way they operate; bitcoin outperformed other major cryptocurrencies in Thursday trading.

Carbon credit protocols have had a difficult time in recent months but have been working to improve the way they operate; bitcoin outperformed other major cryptocurrencies in Thursday trading.

CoinDesk - Unknown
3
CoinDesk - Unknown
Terra Devs Need a Home. Other Blockchains Are Courting Them

Armed with multimillion-dollar ecosystem funds, chains like Polygon and Kadena are trying to woo coders whose work is endangered by Terra’s meltdown.

Armed with multimillion-dollar ecosystem funds, chains like Polygon and Kadena are trying to woo coders whose work is endangered by Terra’s meltdown.

CoinDesk - Unknown
4
CoinDesk - Unknown
Circle Recommends Against a Digital Dollar, and Ethereum Beacon Chain Suffers Longest ‘Reorg’ in Years

The most valuable crypto stories for Thursday, May 26, 2022.

The most valuable crypto stories for Thursday, May 26, 2022.

CoinDesk - Unknown