The unified corporate information portal "Openinfo.uz" has recently integrated the "Token.uz" solution, becoming the first platform in Uzbekistan to do so. Developed by United Integrator - UZINFOCOM, the "Token.uz" pilot project has operated under the Special Regulatory Regime for the circulation of crypto-assets since January 29, 2024.
This integration is expected to boost investor confidence and improve market transparency by providing stakeholders with access to immutable and tamper-proof records. Additionally, it signifies Uzbekistan's commitment to fostering digital transformation and innovation in the financial sector.
Token.uz states that private blockchain networks offer a distinct advantage over public ones, as access rights and participation are controlled by the network operator. Many companies opt to deploy private networks to retain full control over infrastructure and access rights. Tailoring solutions to meet client objectives, private network owners often utilize the Proof-of-Authority (PoA) consensus mechanism.
Proof-of-Authority (PoA) Consensus Advantages:
Efficiency: PoA delivers higher throughput and faster transaction confirmation compared to alternatives like Proof-of-Work (PoW) and Proof-of-Stake (PoS), ensuring swift and seamless operations.
Security: With known and responsible validators maintaining network integrity, PoA-based networks offer heightened security and reliability, instilling confidence in data integrity.
Scalability: Boasting fast transaction confirmations and high throughput, PoA-based networks are inherently scalable, capable of efficiently managing large volumes of transactions without compromising performance.
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