Get All Access for $5/mo

Bithumb Global Launches Open Blockchain Protocol 'Bithumb Chain' Bithumb Chain is a core infrastructure which connects many moving pieces in a finance ecosystem.

By Shipra Singh

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

shutterstock

In what could open up a once closed ecosystem to the world and offer an all-in-one solution for all DeFi use cases, Bithumb Global has come up with Bithumb Chain. The company claims that Bithumb Chain is a core infrastructure which connects many moving pieces in a finance ecosystem.

Bithumb Global, one of the leading cryptocurrency exchanges in the world, launched the product at the Bithumb Family Conference in Seoul, South Korea on Wednesday.

How is the solution different?

Bithumb Chain will enable transfer of value, the flow of information and vertical business integration within a shared blockchain ecosystem. It is designed as a supplement to existing products, services, and infrastructure which will help every product and platform of the Bithumb Family to capture value from both upstream and downstream of the trading business.

The Chain integrates a variety of technologies, such as an innovative exchange-as-a-service, a protocol profit sharing protocol, ValueNet Domain Name System, an exclusive OBFT hybrid consensus model, PK-based authority control system, blockchain network settlement and other features that enable usability into the value network of the blockchain.

The company claims Bithumb Chain will be helpful for developers, traders and entrepreneurs alike. By connecting one of the world's largest community hubs with a decentralized open protocol equipped with all the features required to build a new financial ecosystem, the blockchain solution seems to have the potential to become a tipping point for mass blockchain technology adoption.

Shipra Singh

Entrepreneur Staff

Freelance Journalist

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

News and Trends

Former Cleartrip CEO Ayyappan R Eyes Quick Commerce with FirstClub

After stepping down as Cleartrip's CEO earlier this year, Ayyappan brings his expertise from leading positions at Flipkart, including his role as chief business officer at Myntra.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

Growth Strategies

Amazon To Improve Services In Tier II, III Cities: Samir Kumar, Country Manager

The bigger share of our business is coming from Tier II,III and beyond, says Samir Kumar, country manager, Amazon India