GAGARIN Partnership with 5ireChain
5ireChain is a blockchain project that aims to shift the paradigm of blockchain technology from a for-profit model to a for-benefit model by embedding sustainability and social impact into the project’s runtime logic. The project is developed by an organization called 5ire which also includes 5ire VC, 5ire’s venture capital arm; and 5ire Labs, 5ire’s research and development hub.
The Focus on Sustainability
One of the main features of 5ireChain is its focus on sustainability. The project aims to align the interests of the blockchain with those of society by promoting the adoption of blockchain technology in areas where it can have a positive social impact. This is achieved by incentivizing activities that contribute to the achievement of the United Nations Sustainable Development Goals, such as reducing poverty and promoting sustainable economic growth. 5ireChain is a fifth-generation blockchain that will bring a shift in paradigm from a for-profit to a for-benefit by embedding sustainability and social impact deep inside the project runtime logic, and ensuring that the activities which are aligned with the United Nations Sustainable Development Goals either on-chain or in the real world are highly incentivized with the cutting-edge multilayered Proof-Of-Fire consensus mechanism and reward distribution engine.
Multilayered Consensus Mechanism
Another key feature of 5ireChain is its use of a multilayered consensus mechanism, which aims to increase the scal ability and security of the blockchain. This is intended to overcome some of the limitations that have hindered the widespread adoption of blockchain technology in the past. The 5ireChain project also plans to promote democracy and governance, which aims to ensure the longevity and sustainability of the project, which can help to build trust in the technology and increase its adoption over time.
Funding and Investment
The project has raised 121 million dollars in funding, which suggests that there is significant interest in the idea of promoting sustainability and social impact through blockchain technology. This significant amount of funding highlights the interest in the project and its goal of promoting sustainability and social impact through blockchain technology.
It’s important to keep in mind that investing in any project, including blockchain projects, carries risk and it is important to conduct thorough research and due diligence before making any investment decisions. This includes researching the project’s technology, the team behind it, and the use of funds, among other factors.
Overall, 5ireChain is an ambitious project with a goal of promoting sustainability and social impact through blockchain technology. The significant investment in the project suggests that there is interest in this idea, but it’s important to do your own research and due diligence before making any investment decisions.
5ireChain is a layer-1 EVM compatible smart contract platform that focuses on developing a for-benefit blockchain ecosystem based on the Sustainable Development Goals (SDGs) defined by the United Nations (UN).
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