Testnet of Petale’s Vortex Blockchain is live

Testnet of Petale’s Vortex Blockchain is live

Vortex is a fast, secure, scalable, cost effective and energy efficient blockchain built to bring trillions worth of real-world assets on-chain through tokenization. Start exploring the Vortex testnet today and stay tuned for the upcoming mainnet and security token launch.

Today, we’re excited to announce the testnet launch of Vortex, an EVM compatible Layer 1 (L1) blockchain offering investors, asset managers and financial institutions easy access to create, trade, and interact with tokenized real-world assets. Petale Vortex is designed to bring trillions of illiquid assets on-chain and facilitate investment flows towards the real economy at internet speed.

Vortex will serve as both a home for Petale’s on-chain products and services, and a compliant ecosystem where investors and issuers could create and interact with tokenized real-world assets. Vortex is incubated inside Petale, leveraging our team's experience in critical satellite communications encryptions solutions for aviation, fighter jets, and space telemetry applications, as well as optimization of IP communications, cloud infrastructure, and high-speed networks (3G and 4G).

Today, we’re accepting the first applications for network validators. We’re also preparing for the upcoming launch of the mainnet that will coincide with the launch of Petale’s security token and white paper, expected in a few weeks.

So, what is Vortex?

As a decentralized exchange, Vortex was built to be one of the best places for investors, asset managers and financial institutions to issue, trade and interact with tokenized assets on-chain:

  • Secure and fast: Vortex is built with the security and speed you need to power liquidity flows into tokenized assets, handling up to 50M+ transactions per day. It leverages the underlying security of Ethereum and EVM compatibility, along with Petale’s audited best practices enabling anyone to confidently issue, trade and interact with tokenized assets on-chain.
  • Exponential scalability: Vortex nodes are designed to deploy and retract nodes based on network demand. A single node’s capacity can be multiplied by 30 in the case of specific events such as network congestion. This brings all the necessary scalability, as a lung in a human body, to expand and retract based on demand.
  • Energy efficient: Vortex is designed with sustainability in mind, making it a blockchain infrastructure with an inherently minimized carbon footprint. As the nodes auto-scale on demand, they consume much less energy, and all the security tokens in the network already exist, which means there is no need for additional energy consumption to produce tokens.
  • Compliant and transparent: Vortex wallet addresses are generated upon verified identities. As all transactions are public, and the usernames are pseudonymized, Vortex provides a transparent secure and compliant environment for tokenized asset management.

Why are we building the Vortex?

To bring billions of assets and users on-chain, we strive to facilitate interactions between investors, asset managers, and financial institutions with tokenized real-world assets. To rapidly grow, access to such products and services needs to be easy, accessible, and secure for anyone. To achieve this, we rely on the following core principles:

  • Fostering economic growth: We’re building the Vortex to allow easy, secure, fast, and compliant transfers of value between the crypto economy and the traditional economy to boost investments and stimulate economic development across the globe. Vortex in its vision, consists of an open financial network seeded with Petale’s premium products, users, and assets.
  • Upgrading asset management: Vortex is built to better serve how people and companies interact with assets. Today, asset management is siloed which makes it slow and expensive, which can lead to errors, delays, and higher costs. By transferring ownership rights on-chain with tokenization and smart-contracts, the Vortex provides frictionless asset management experience combined with all the security and transparency that characterize digital assets. We’re entering the asset management revolution, and Vortex is designed to streamline a system that benefits traditional investors and asset managers with the new economy.
  • Decentralization and governance: With the Vortex, we’re building a decentralized network and strong governance. Network nodes are spread-out across continents to ensure a native geographical decentralization of operations. Additionally, network validators are carefully selected organizations with different interests to ensure a strong governance decentralization. Finally, the Vortex Governing Council, which will be later publicly unveiled, will provide additional governance components that will ensure self-sustainability of the network and its underlying assets.

What’s next?

Our focus is ensuring a successful deployment of the Vortex. In the weeks ahead, we’ll share our whitepaper and provide information about Petale’s security token that lives on the Vortex.

Start engaging with Petale today:

Petale Discord

Petale Twitter

Vortex Testnet Explorer

Become a Vortex Node Validator

Security Token reservation

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