LOS ANGELES–(BUSINESS WIRE)– RYT today launched its Layer-1 blockchain, a
groundbreaking platform built on its patented Proof of Majority (PoM) consensus mechanism,
designed to address the core limitations that have held back blockchain from mainstream adoption:
speed, scalability, accessibility, decentralization, and energy efficiency.
RYT isn’t just about technology — it’s about real-world impact. With a robust pipeline of large-
scale deployments across multiple industries, RYT is poised to drive meaningful change on a
global scale. From secure national digital ID systems and government-backed digital currencies to
accessible savings and investment solutions, streamlined healthcare records, and faster, more
affordable international remittances, RYT’s technology is designed to turn these innovations into
reality.
In fact, RYT is already making waves in Pakistan by partnering with a community-based savings
platform that will target the tens of millions of people that use outdated, informal, and inefficient
practices to save and distribute money. This offering, which is planned to launch in May and has
the backing of several large financial institutions, represents just one of the many exciting
partnerships that will be announced this year.
Behind RYT is a team with proven experience in finance, technology, and entrepreneurship. CEO
Steve Durbin brings over two decades of experience from the world of investment banking and
private equity. Chief Architect Jeff Mahony, a fintech pioneer who founded the platform
SaveDaily, has spent over 30 years at the forefront of financial technology innovation. COO
AbdulQadir Mohidin has built a track record of success guiding fintech initiatives in the U.S. and
the Middle East. This leadership team has personally invested millions to realize their vision.
“We built RYT to bring the benefits of decentralized technology to practical, everyday
applications,” said Steve Durbin, CEO of RYT. “Our focus is on solving real-world problems —
improving access to financial services, streamlining processes, and empowering individuals and
institutions. We believe RYT has the potential to improve how people around the world interact
and transact.”
A New Approach to Consensus: Proof of Majority
RYT’s Proof of Majority consensus model is central to its ability to deliver on its promises:
• True Decentralization: PoM allows all network participants to contribute to block
creation and validation, fostering a more democratic and secure system.
• Accessible and Efficient: The low computational requirements of PoM mean that even
devices with limited processing power, like smartphones, can participate. This also
translates into significantly lower energy consumption compared to traditional Proof of
Work blockchains.
• Reliable and Inclusive: PoM ensures all valid transactions are processed and the network
is designed to be resistant to common attack methods.
• Minimal Network Load: By transmitting smaller data packets, PoM reduces bandwidth
demands, making the network more accessible in regions with limited infrastructure.
RYT: Building a More Inclusive Digital Future
RYT’s launch marks a significant step forward for blockchain technology. By prioritizing real-
world applications and building a platform that is both powerful and accessible, RYT is laying the
groundwork for a future where the benefits of blockchain are available to everyone.
For additional information, please visit www.ryt.io.
About RYT:
RYT is a pioneering Layer-1 blockchain ecosystem designed for speed, scalability, security, and
real-world usability. With applications spanning supply chain management, identification, real
estate, and national digital currencies, to name a few, RYT represents the next evolution in
blockchain technology.
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Source: AETOSWire
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