Bezant is a platform that is focused on the development of technological solutions in the sphere of digital payments and e-commerce. The original Bezant definition is a coin that was circulating in X-XIII centuries in the territory of the Eastern Roman Empire. The platform was announced in April 2018 on the BitcoinTalk forum. The project is developed by the Jehmi, Inc. company, led by Steve Tay. Bezant Foundation Limited is the company that was established to perform a token sale for the initial funding of the project. The foundation of Bezant is incorporated in Singapore.
Bezant project review
In the Bezant whitepaper the team mentioned that the modern digital payment industry is constantly growing and it leads to a number of issues. Some of these issues are:
- The digital products’ market is centralized
- App and e-commerce stores are establishing fees that take almost half of all the developer revenue
- Distribution platforms don’t allow payments in cryptocurrency or with non-international credit cards
The Bezant project seeks to fix mentioned problems with its blockchain-as-a-service (BaaS) platform, that will be enterprise-friendly and easy-to-use for the product developers working with the platform.
The platform, ultimately, aims to provide content and digital product developers with an opportunity to gain fair payments for their work. In accordance with the company’s vision, this can be achieved with a small number of changes.
First of all, the platform will provide its users with an ability to establish his/her own private digital stores. These stores will be able to take payments with a local payment methods of the country they’re in. Secondly, the platform will be powered by its native cryptocurrency - BZNT, which will help to eliminate the fees and other expenses inherent to the modern digital content distribution platforms.
The Bezant team plans to implement its service platform on top of the developed blockchain. Its users will be divided in two groups - enterprises and individuals. Individual users won’t be able to work with the platform directly, they will only be able to use it via various decentralized applications.
The Bezant blockchain network itself will be developed with the Hyperledger project technologies and will consist of 4 main entities.
Identity Authentication Service (IAS)
As the Bezant platform is initially private and permissioned, it requires an IAS to remain under the rule of law and give its users an opportunity to act publicly when interacting with content producers.
An application in the Bezant platform is a program built with the Bezant’s software development kit. Applications are interacting with the network representing user’s requests like data retrieval or transaction sending and receiving. The application will have an API to interact with Android, iOS and PC operating systems.
The Bezant network, similarly to any other blockchain-based network, consists of peers. Peers store copies of smart contracts and ledgers in order to achieve consensus. Peers maintain the network and make it fault tolerant, trustful and robust.
Orderers are the users that form blocks in the blockchain. They are sorting transactions performed via the network’s applications and validated by peers. Orderers are needed because the Bezant network does not use proof-of-work. Transactions are performed real-time and are validated based on the trusted user that perfrmed them. It can help to make the network bandwidth much bigger than the same of modern popular blockchains like Bitcoin and Ethereum.
Bezant token is a ERC20 standard token. The total supply of BZNT is one billion tokens. Initial distribution of the tokens was performed with the ICO. The Bezant ICO was performed on May 3, 2018 and managed to raise 30 million United States Dollars in ETH. 50% of all tokens were available for the purchase.
Bezant (BZNT) price and market performance online via CoinMarketCap:
The Bezant cryptocurrency is traded on such exchanges as: