Tortola, BVI – February 23, 2024. The Tanssi appchain infrastructure protocol is announcing a collaboration with Phyken, a green energy asset tokenization platform. This integration facilitates the creation and management of green energy assets in the blockchain space, enhancing the efficiency and scalability of transactions facilitated by deploying an appchain on Dancebox, Tanssi’s TestNet.
"Collaborating with Tanssi is a significant stride towards advancing our capabilities in relation to our blockchain infrastructure. This collaboration reflects Phyken's dedication to leveraging innovative technologies to promote sustainable energy solutions. By utilizing Tanssi's infrastructure appchain, we enhance our blockchain's efficiency and scalability, enabling more effective management and fractionalization of renewable energy RWA." — Abhishek Chatterjee, Co-Founder.
Integrating Renewable Energy Assets into Blockchain
Phyken Network plans to integrate renewable energy assets with blockchain technology by developing a Layer application chain, aiming to make sustainable investments widely accessible. This initiative particularly targets providing access to those traditionally excluded from such opportunities by fractionalizing assets for global reach. As part of its strategy to streamline integration, Phyken Network will become a parachain—specifically, an appchain within the Polkadot ecosystem. Upcoming developments include launching its native token, $KEN, and establishing a decentralized exchange (Phyken DEX) for trading assets. The project is focused on leveraging Web3 infrastructures to foster renewable energy investments and sustainability.
The deployment of an appchain by Phyken Network is driven by dual objectives: firstly, to facilitate the fractionalization of green energy assets, and secondly, to integrate Real World Assets (RWAs) using the Substrate modular framework. This strategy underscores a dedication to sustainability and the pursuit of a more environmentally friendly future through the application of blockchain technology. Below is an overview of the strategic initiatives of Phyken Network:
Phyken Network aims to make green energy investments accessible by using blockchain to fractionalize Green Renewable Energy Assets (GRWAs).
It operates on Polkadot, enhancing security and interoperability for green Real World Assets (RWAs).
With a focus on sustainability, Phyken targets a growing global RWA market, expected to expand significantly by 2030.
Plans include launching a native token ($KEN), a decentralized exchange (Phyken DEX) for assets, and a DeFi protocol tailored for green RWAs.
These initiatives aim to democratize access to sustainable investments and foster a cleaner energy future.
Phyken Network's Strategic Deployment of Appchains on Substrate
Deploying an appchain is key for Phyken Network, aiming to simplify green energy assets' blockchain integration. Substrate’s modular framework, known for its flexibility and high customizability, enables Phyken to tailor its blockchain for optimal green energy and Real World Assets (RWAs) management. This setup boosts efficiency, governance, and security, ensuring Phyken's platform is scalable and secure for sustainable investments.
Substrate's modular design enhances Phyken's adaptability and interoperability within the blockchain ecosystem, which is essential for keeping pace with market and technology shifts. This strategic use of Substrate facilitates broader access to sustainable investments, aligning with Phyken's mission to democratize green opportunities. Phyken establishes a robust foundation for growth and innovation by employing Substrate, underlining the strategic importance of appchain deployment for a cleaner energy future.
Tanssi’s Role In Supporting Phyken’s Appchain Deployment
Navigating the complexities of launching a parachain on the Polkadot network and leveraging Substrate's intricacies, including infrastructure setup, parachain auctions, and crowdloans, presents a significant challenge. Phyken faces additional hurdles such as onboarding block producers, integrating wallets, and configuring oracles. Tanssi significantly simplifies this process for Phyken, reducing deployment time from months to minutes, and offers a comprehensive suite of appchain infrastructure resources to streamline management.
Tanssi's support for Phyken extends beyond simplification to enhance blockchain adaptability for green energy assets through pallet fractionalization and the integration of custom logic. This collaboration introduces key advancements like the integration and whitelisting of collators for efficient block production and transaction validation, alongside the development of custom Remote Procedure Calls (RPCs) for improved blockchain communication. These efforts not only streamline operations but also innovate blockchain flexibility to meet Phyken's unique needs.
Furthermore, Tanssi's pre-configured Substrate and EVM templates expedite the development process, allowing Phyken Network to focus on its core mission of green energy asset fractionalization and Real World Assets (RWAs) integration. This collaboration equips Phyken Network with the tools for rapid deployment, customization, and extensibility within a developer-friendly environment. Enhanced security measures, combined with seamless interoperability ensured by Tanssi, create a robust and efficient platform for Phyken's operations within the Polkadot ecosystem.
This strategic collaboration equips Phyken Network with the means for rapid innovation, allowing it to adapt swiftly to market and technological shifts, thereby advancing its goal of promoting a cleaner energy future with less operational overhead.
Accelerate Your Journey to Appchain Innovation with Dancebox
Aligned with our dedication to supporting Web3 developers and initiatives such as Phyken Network, Tanssi presents Dancebox, our TestNet environment. Designed to simplify the appchain deployment journey, Dancebox acts as a conduit from idea to launch, facilitating a straightforward and effective development process. → Get Started with Dancebox.
About Tanssi Network
Tanssi's appchain infrastructure protocol is built to simplify and accelerate appchain deployment using ContainerChains. When an appchain connects to Tanssi, it becomes a ContainerChain, accessing a developer-friendly and permissionless environment that provides infrastructure as a service. As a result, appchains can be deployed in just hours— a significant leap from the typical months-long process. On top of this, Tanssi also benefits from the shared security and native interoperability of the Polkadot Relay Chain. Learn more at tanssi.network.
About Phyken Network
Phyken Network is a Layer Appchain and #DeFi protocol on Polkadot, building an #RWA asset fractionalization protocol, particularly emphasizing renewable energies and solar power on the blockchain — Secured by Polkadot.
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