Tbilisi, Georgia, Jan. 13, 2023 (GLOBE NEWSWIRE) — Konsta is a new blockchain platform that serves the purpose of web3 app developers. It aims to prevent costly cyber attacks on businesses. Its protected transaction features make it difficult for hackers to infiltrate the system. According to its co-founder, Aleksandr Kents, the increasing prevalence of cybercrime highlights the need for secure systems like Konsta.
With the new development, Konsta addresses several challenges faced by end users in the blockchain industry through web3 application development, including performance issues for high-load applications such as games, scalability for payments on DEXs, and lack of protocol-level protection against DeFi hacks.
Web3 development firm focuses on addressing these issues, Konsta Blockchain offers higher transaction processing speeds and faster block completion than current EVMs and allows higher value and potentially suspicious DeFi transactions to be verified by specialized validators known as Notaries. These Notary validators, which are certified independent organizations, manually validate “protected” transactions every 24 hours. These transactions are put into a pool to be picked up by the Notary, and when it’s their turn to add blocks, all other validators are suspended.
Additionally, apart from the web3 development services, Konsta Blockchain uses a Proof-of-Authority Consensus mechanism, which eliminates the possibility of a 51% attack. This mechanism allows each node on the Konsta Blockchain to add a specific number of blocks to the blockchain at a specific time. Konsta presents itself as an alternative approach to transaction reversibility that is more efficient than current solutions.
Konsta Blockchain has been composed of the founders of various companies. Vladimir Nikitin, Venture Partner at Shima Capital, acts as Venture Advisor for Konsta. The company also has a team of technical advisors including Artyom Harutyunyan, co-founder of Blockstars Tech, and Yegor Havrylenko, co-founder of EvaCodes. The Konsta team includes Aleksandr Kents in charge of business development and Andrey Smekhov as product owner. Together, they bring a wealth of experience and expertise in the blockchain and Web3 area to Konsta.
“With $3.7 billion hacks in 2022, the market has no chance to leave everything as it is,” says Yehor Havrylenko, co-founder of EvaCodes about the new development. “The further we go; the more security solutions are needed. That’s why Konsta came up with the hybrid consensus model. We make the blockchain model work in a more stable way thanks to a combination of the classic Proof-of-Stake protocol and securing transactions on many levels via Proof of Authority, protecting it from hacks and abnormal transactions. And using a hack-free protocol, Konsta was able to prevent up to 99.8% of all hacks that happened before.”
Venture Partner at Shima Capital Vladimir Nikitin expressed his view on the new progress on Konsta by stating,
“Konsta found the middle ground to simultaneously provide developers with the security kit while making it decentralized enough to keep the Web3 narrative clear and protected enough for people to seamlessly use crypto the way they would have used the bank.”
Konsta therefore thrives on rebuilding Web3 Development Company’s trust in America’s Web3 security, making cryptocurrency investment safer, and providing a secure platform for people to quickly spend their money with minimal risk. Konsta plans to launch its product at the end of October and invites Alpha users to test the service and assess its potential.
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